In this week’s Hidden Wealth Solution Insight, I teach that many people are trying to understand the uncertainty and severity of where tax rates in this country are headed. I’ve recently met with several people who took advantage of our no-cost, no-obligation Tax Elimination Discovery Interview. These meetings confirmed a recent poll that showed the three biggest retirement fears of Baby Boomers:
- Running out of money,
- Affording healthcare,
- Maintaining lifestyle.
The biggest danger to all three of these fears is tax. Many Baby Boomers have saved for retirement in accounts such as401(k)s and IRAs. Not only are these accounts pre-tax (meaning that the tax gets paid when the money’s distributed) they also have Required Minimum Distributions (RMD)s. RMDs force savers to take distributions (and pay the tax)starting at 70.5 years of age.
Many people have asked how significant a Hillary Clinton presidency would be for higher taxes. Significant is the key word. The (Bill)ary tax increase calls for a 42% capital gains tax as well as higher Federal tax increases. Taxes will increase regardless of the presidential outcome. This is due to the economic disaster of the Obama administration. It’s policy has put our generation and future generations into a tax increase like no other!
This has led several people to call and ask, “Is it true that there’s a way to get my 401(k) or IRA ‘untaxed’ and not pay the taxes out of my own pocket?” The answer is that there is most definitely a way to do this!
I teach this strategy to CPAs in continuing education classes. One of the CPAs referred to this as an advance Roth IRA conversion strategy on steroids.
I’d love the opportunity to teach you this strategy. I want to teach you how to get your retirement savings out of the tax system and how to pay the tax from someone else’s pocket. Join us this coming Tuesday for 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 without paying the taxes from their own pocket. Simply go to www.RetirementProtected.com and enter the required information.
Register now while space is still available. Learn how one strategy can help alleviate the three greatest Baby Boomer retirement fears.
Here’s to your Hidden Wealth,