How Much Tax Will You Pay on Your IRA?

In this week’s Hidden Wealth Solution Insight, I teach that taxes will be mountainous over our lifetimes. We recently conducted a Tax Savings Analysis for a 66 year old man who believed that he would need $100,000 a year to maintain his retirement lifestyle. He was astonished when our analysis showed that one third of his income would be paid to taxes.

It doesn’t matter who we elect as president. Hillary Clinton has already called for higher Federal income taxes, a whopping 42% increase in the capital gains tax and a revision of the estate tax. Under the Clinton plan, we will pay more tax while we live and the government will collect even more tax from our estate when we die. Donald Trump recently increased the tax rates in his plan because his original rates were too low.

The chart below shows how the 66 year old gentleman I referenced earlier needs $153,000 a year from his IRA in order to net the $100,000 needed to maintain his lifestyle. At this rate of withdrawal, his retirement savings will run out in under nine years, before he even turns 75! This assumes that there are no tax increases.

Stop the IRA Tax Trap!

Interesting Chart

Please Click the Chart to View in Your Web Browser

The only way to avoid this tax trap is to have your savings in a safe-savings vehicle that:

  1. Only goes up when the market goes up and never goes down when the market drops and
  2. Eliminates the IRS from your IRA so that you pay no tax on the growth or the distributions.

No traditional IRA can provide either of these things.

For a detailed discussion of this chart, please click the the video above to watch this week’s Hidden Wealth Insights Video Blog.

I’ll be teaching these strategies this coming Tuesday in my no-cost, no-obligation Retirement Protection Webinar. Learn how our clients are able to morally and ethically remove their retirement savings from the tax system and how they avoid the pain of market losses. To register for the webinar, simply go to www.RetirementProtected.com and enter the required information.

Register now while space is still available. Learn how you can get the IRS out of your IRA!

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

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

Tax Free Income
for Life

Buidling a Tax Free
Retirement Plan

Tax Free Income for Life

Listen To Hidden
Wealth Radio

Charles Oliver
On The Air!

Hidden Wealth Radio with Charles Oliver

Learn How To
Retire Now!

Register Now For
Our Live Webinars

Learn How To Retire Now! Register Now For Our Live Webinars

Business
Owners

Building A Tax-Free
Retirement Plan

Learn How To Retire Now! Register Now For Our Live Webinars

Don't Just Take
Our Word

See What Our
Clients Are Saying

Take a look at what our Clients are Saying

How We're Different
From Others

Our Tax
(Savings) Strategy

Our Tax (Savings) Strategy