Get the IRS Out of Your RMD

In this week’s Hidden Wealth Review, I teach that, if you are a Baby Boomer with over $200,000 saved in IRAs, you are facing what I call the Required Minimum Distribution Dilemma. Required Minimum Distributions (RMDs) are a ticking tax time bomb that I can teach you how to avoid. If you’re already paying RMDs or you are about to start paying them, you need to learn how to sidestep this threat to your retirement peace of mind.

This year, about 2.5 million Baby Boomers are facing the first RMD from their tax-deferred retirement savings accounts. Most of this money is sitting in Individual Retirement Accounts (IRAs).

If you don’t take your RMDs, the government imposes a penalty of 50% of the RMD amount (plus the tax). The amount of your RMD goes up every year. It has been our experience that the amount of money in your IRA is at least equal to the total amount of tax that you will eventually pay on that account, assuming that tax rates don’t increase. We believe that tax rates have only one way to go – UP!

Webster’s Dictionary defines dilemma as “any difficulty or perplexing situation or problem.” RMDs can be very perplexing and the tax issues they present are a definite problem. The hidden danger is that taking an RMD increases many people’s income to the point where 85% of their Social Security becomes subject to income tax.

Here’s how it works; people pay money into a retirement account (IRA). They eventually have to take an RMD and pay the tax on that amount. What’s left over after taxes ends up getting put into another account which the government taxes again! Of course, when the owner of the IRA eventually passes away, any non-spousal inherited portion of the IRA is taxed yet again and a new RMD tax schedule is started on the non-spouse inheritor, regardless of whether or not the inheriting party is 70.5 years of age. 

I want to teach you how to remove RMDs. I want to show you how to get the IRS out of your IRA. Let me teach you how to get the government out of your retirement. This coming Tuesday, I will be teaching, in my Retirement Protection workshop, how to legally, morally & ethically get out of RMDs.

To register for this no-cost, no-obligation educational event, simply go to www.RetirementProtected.com and enter the required information. But hurry, with the first of the Baby Boomers set to start taking their RMDs, these Tuesday events will fill quickly.

Just for registering, you’ll receive my video book, 7 Steps to a Tax-Free Retirement. When you attend my webinar, you’ll receive an e-copy of my book, The Baby Boomer Retirement Breakthrough as an attendance gift.

www.RetirementProtected.com
Or Call
(855) No Tax 2 U
(855) 668-2928

Here’s to your Hidden Wealth,
Chuck Oliver
Best-Selling Author

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