In this week’s Hidden Wealth Solution Insight, I teach that the first of the Baby Boomers must start taking Required Minimum Distributions (RMDs) from their IRAs, 401(k)s and other tax-deferred accounts. RMDs are legally forced percentage withdrawals from these tax-deferred retirement programs.
The government is licking its chops in anticipation of this huge tax windfall. Assuming just a 15% tax rate, the projected revenue will amount to an extra $2 trillion in taxes by the end of 2016! That’s assuming, of course, that tax rates don’t go up.
I’ve met with hundreds of Baby Boomers over the last 20 years. Almost none of them were in the 15% tax bracket. Most of those with whom I’ve met are in the 20% to 25% bracket. Tax rates are going to increase because 10,000 people a day are retiring, meaning that the government is collecting less and less through traditional payroll taxes. The best place for the government to find additional revenue is in those tax-deferred retirement accounts that the Baby Boomers have built during their working lives.
Don’t become the perfect, life-long tax payer by leaving your money in these tax-deferred retirement accounts. I want to teach you specific strategies that you can use to get your money out of these tax-deferred accounts without paying the tax out of your own pocket!You’ve worked hard for your money, we’ll work even harder to protect it.
The market turmoil that resulted from last week’s “Brexit” vote shows how the global economy can have a huge impact on our domestic stock market. The stock markets are going to be more volatile and taxes are going to increase.
To encourage people to discover how they can declare their independence from unnecessary taxes and market losses, I’m making a special offer, this week. I will gift a copy of my latest book, The Baby Boomer Retirement Breakthrough, The Unfair Advantage for a Safe & Secure Retirement to the first 20 callers who request a no-cost, no-obligationSecond Opinion on Your Wealth Program (much as you would get a second opinion on your health). This book will show you how to avoid the five greatest retirement traps and how to insure that your money lasts for your entire retirement.
To request your second opinion call:
(855) No Tax 2 U
(855) 668-2928
Here’s to your Hidden Wealth,
Chuck Oliver
Best-Selling Author