In this week’s Hidden Wealth Review, I teach how people are laboring over unnecessary taxes. Dictionary.com defines labor as, “productive activity, especially for the sake of economic gain” or “physical or mental work, especially of a hard or fatiguing kind.” I want you to know that it doesn’t have to be that hard. There are easy ways to eliminate taxes from your retirement savings or income.
Almost everyone reading this had to work through mid-May before they got to keep a single penny of what they earned. Everything that was earned before then went to pay our taxes. In other words, the first five months of our earnings go to pay Uncle Sam. It doesn’t have to be that way.
Learn to control the “controlables” and eliminate that which can be predictably eliminated specifically, unnecessary taxes. The risks of not doing so have never been greater.
As you travel or relax this Labor Day weekend, consider the impact of taxes on both you and your children. If you are approaching or you are already age 70.5 consider the tax impact of being forced to take Required Minimum Distributions from your IRAs or 401(k)s. Also, consider the tax impact of these accounts on your children who may inherit them. They will be forced to liquidate (and pay taxes on) these inherited accounts within five years.
You see, the government is very tax hungry. There are 10,000 people retiring every day and leaving the tax roles. The federal government is scurrying, trying to find much needed tax revenues.
Save yourself a lot of extra labor. Learn a smarter solution to eliminating these unnecessary taxes. A Fox Business poll this week showed that eight out of ten people don’t believe that any Trump tax reform will be implemented during the next four years.
In this same Fox Business poll, almost 50% of those polled didn’t even care if tax reform happened. That’s because most of them don’t pay any taxes. But, those of us who do pay taxes will be required to pay a lot more, unless we get a better plan than the IRS has for us.
Learn how to eliminate unnecessary taxes from your retirement. I want to teach you, in just about an hour, how to become a tax-free retiree. If you’re saving money in an IRA or 401(k), let me show you a better way. If you have $200,000 or more trapped in IRAs or 401(k)s let us teach you how to get that money out without paying the tax from your own pocket.
This coming Tuesday, I’m teaching my Tax-Free Retirement Webinar. Register for this no-cost, no-obligation educational event by going to www.RetirementProtected.com. Simply 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.
-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,