This week, I met with a 72 year old client named Mary. Mary was facing her IRA Required Minimum Distributions (RMDs). Her RMDs caused 85% of her Social Security income to be taxed. The dollar amount that Mary was losing every month with her Social Security being taxed was $300. This was all Mary’s money that she had paid into the system and to which she was otherwise rightfully entitled. Not only that, her income with her RMDs also caused her Medicare premium to increase by $200 a month. So, Mary’s income was decreased by $500 each and every month!
Originally, there was no tax on Social Security income. Then, the government said they would tax no more that 50% of the income. In 1993, the Clinton administration raised that taxable amount to 85%. It’s just a matter of time before the government taxes 100% of your Social Security income.
Mary is now saving a lot more! She learned how to get the IRS out of her IRA and eliminated her RMDs. Mary is now also saving $500 a month by eliminating the unnecessary tax on her IRA income. In addition, she avoids the extra $300 a month of income tax on her Social Security and the $200 a month of additional Medicare premium. All that amounts to $1,000 of extra, tax-free money in Mary’s pocket each and every month. Let me ask you a question, could you use an extra $12,000 a year? In addition, when Mary passes, three times as much money will go to Mary’s daughter and grandchildren, all tax free!
If you want to increase your retirement income by $1,000 to $2,000 a month (or more), we can teach you how. This coming Tuesday, I’ll be teaching an introduction to these techniques in my complimentary educational webinar. This no-cost, no-obligation event teaches you these and other proven strategies from my book, The Baby Boomer Retirement Breakthrough.
At this simple, log-on and learn opportunity, you’ll learn the five greatest retirement traps and the core four retirement success criteria. In addition, for registering and attending, I will gift you an e-copy of my book, The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.
To register for this educational webinar, simply go to www.RetirementProtected.com, enter the required information and submit your registration. Once you’ve registered, you’ll receive an email containing a personal link to join Tuesday’s event. These events fill quickly so hurry and register.
-Spouses are encouraged to attend this event together-
(855) No Tax 2 U
Here’s to your Hidden Wealth,