I start this week’s Hidden Wealth Review with a question. Do you feel a little uncertain about how long this market run up will last and where our economy is headed in terms of taxes, the deficit and inflation? If so, then you are not alone. Many people are concerned and with good reason. There aren’t a lot of good fundamentals that explain why this market is behaving as it is.
Mick Mulvaney, President Trump’s appointee for Director of the Office of Management and Budget was recently asked if he thought there needed to be changes to Social Security. His answer was a resounding, “YES.” The plan is to tax more of the benefit and raise the retirement age. Anyone currently drawing or about to start drawing Social Security should be very concerned.
The last time Social Security was drastically altered was in 1981, under Ronald Regan. The strategy was exactly the same; the retirement age was raised and the amount of benefit exposed to taxes was increased. You can hope that taxes don’t go up but the reality is that they will. With 10,000 people retiring every day, a $20 trillion (and growing) deficit and fewer people paying federal income tax means that Social Security will be changed in a way that it never was before.
Because of the extreme demographic shift in our country,taxes are heading up and the market will become more volatile. I want to teach you how to safeguard your serious retirement savings from both of these risks. To learn what you can do, go to www.RetirementProtected.com and register for my no-cost, no-obligation Wealth Protection Webinar.
At this educational event, I will teach you how to eliminate volatility by locking in your market gains and only have your savings participate in the market when it goes up, but never when it goes down. In this past year, some of our clients earned as much as 15%, tax-free! They did this without taking any market risk and their gains are locked-in so that they never have to worry about losing those gains back to the market.
When you register and attend, you’ll receive an e-copy of my latest book, The Baby Boomer Retirement Breakthrough, where you will learn the top five retirement risks and how to avoid them. It will also teach you my common sense “you’re in control” retirement savings solution.
Here’s to your Hidden Wealth,