In this week’s Hidden Wealth Review, I teach that taxes today are more than double what they were when JFK was president. In 1961, the average tax, per tax-payer (adjusted for inflation) was $15,000 a year. Today, that amount has ballooned to $35,000 a year!
Two of the biggest reasons for these tax increases are Medicare and Social Security. Government forced Required Minimum Distributions, also referred to as RMDs, are another common form of hidden tax. Don’t wait until you are forced out of your savings at age 70½. RMDs often cause up to 85% of someone’s Social Security to be taxed.
Back in 1961, Social Security wasn’t even taxed! Certain taxes, such as the Medicare tax, various surtaxes and the Obamacare tax didn’t even exist. Today, it’s not unusual for people to pay more taxes in retirement than they did when they were working!
But, it doesn’t have to be that way. Focusing on eliminating your exposure to RMDs altogether can save you a lot of tax. Learn how you can un-trap the money you have in an IRA and how to get more than 90% of your IRA out, tax-free.
Learn how you can eliminate taxes on your retirement savings and retirement income. If you’re still working or self employed, let me teach you how to eliminate $20,000 (or more) in unnecessary taxes. If you have a highly appreciated asset that you want to sell, such as a business or real estate, learn how to legally pay zero tax on the sale.
It’s important to get your retirement savings and income protected so that you don’t have to pay all of these hidden taxes. It’s particularly critical right now because our national debt is growing at more than $1 million a minute, which is causing a lot of volatility, uncertainty and it will eventually lead to even higher taxes!
Let me teach you, in about an hour, how to be a tax-free retiree. To learn, please go to RetirementProtected.com, and register for my no-cost, no-obligation Retirement Protection Webinar. At this event you will learn what many CPAs don’t even know. A retired CPA recently told me, “Most CPAs know nothing about these things. The majority just fill out tax forms. People are more concerned with what the IRS can do to them then what they can do to help themselves.”
Learn how to protect yourself from unnecessary tax. Go to www.RetirementProtected.com, enter the required information and submit your registration. Once you submit your information, you will receive an email containing a personal link to join Tuesday’s event. Spouses are encouraged to attend this event together.
When you register and attend the webinar, you’ll receive an e-copy of my latest book, The Baby Boomer Retirement Breakthrough. This book teaches you the top five retirement risks and the unique solutions you can use to avoid them.
Here’s to your Hidden Wealth,