In this week’s Hidden Wealth Review, I teach that the “tax gotchas” just keep on coming. I want to share a story about a client who works for the federal government. He is fed up with the tax that he has to pay back to the government due to his federal government employee retirement plan. The Required Minimum Distributions (RMDs) are causing him to be taxed to the max.
After consulting with him, we were able to help him remove the large and unnecessary retirement account tax target on his back , using certain sections of the tax code. His challenge was that he was single with two daughters. He was fearful of where tax rates are going, he was concerned about the 15% growth tax that Congress wants to impose and he was very afraid of the non-spouse inherited, five year liquidation rule, which would send 50 cents of every retirement dollar to taxes, instead of to his daughters.
Here’s the good news. We eliminated the federal government and the IRS from his retirement. We moved his funds into a position that allows him to pay the tax from someone else’s pocket. Now his money will grow tax-free, he can take tax-free distributions whenever he wants (he no longer has RMDs) and there is no negative tax impact on his Social Security. Best of all, his daughters will now receive three times more money, all tax-free!
This past week, I conducted two annual client reviews. For the last decade, one client earned 9.49%, tax-free. The other client averaged over 11%, tax-free for the last decade. Let us teach you how you can enjoy these same types of returns, while avoiding unnecessary tax gotchas.
This coming Tuesday, I’ll be teaching my Tax Freedom Webinar. This no-cost, no-obligation educational event teaches you how to get the government out of your retirement so that you keep more of your money for you and your children. Register and attend now, before tax rates go up and the stock market goes down (again). Learn the steps you need to take in order to protect yourself from unnecessary tax gotchas and market crashes .
To register, 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 you must hurry and register.
-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,