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capitalize
In this week’s Hidden Wealth Reviews, I teach how you can capitalize on a gift from our government. I know this sounds sarcastic, especially during tax season but, the time to act to reduce your taxes is now in 2022. I want to share the three P’s that can have the most impact on taxes for Baby Boomers, retirees and business owners; Prepare, Prevent and Protect!
The Investment Company Institute found that, as of 2020, only 20% of U.S. households owned a Roth IRA. Let me ask you a question, if you were a farmer, would you rather pay tax on the seed or tax on the harvest? Naturally, you would want to pay tax on just the seed. Now is the time to save taxes, while account values are down, while taxes are on sale (before they increase) and before many taxpayers won’t be able to do a Roth conversion if the government changes the rules.
Right now, taxes are on sale, making it the perfect time to convert your retirement savings into a vehicle where it can grow in a favorable tax environment, as opposed to a more tax-risk environment. The longer you defer paying taxes, the more tax you have to pay in the future as well as more taxes that your children will be forced to pay. Quite simply, deferred taxes equal increased taxes.
Click Here to learn about this government gift and why now is a great time to take advantage of it in a few different ways.
Roth IRAs are truly a gift from the government but, many people haven’t taken Uncle Sam up on them. Now is a great time to do just that. While taxes are on sale, you should be “stocking up” by converting your traditional IRAs through strategic Roth conversions.
Taxes are at near-record lows so, the only place for them to go is up. There is a window of time before the Tax Cuts and Jobs Act sunsets in 2026 and tax rates revert to their previously higher levels. If you like saving money then your should be really happy, this tax sale will save you and your heirs even more money.
Many clients choose to do Roth conversions because, unlike a traditional IRA, a Roth IRA doesn’t require you to take money out for Required Minimum Distributions. A traditional IRA requires you to pull out money starting in the year after you turn 72 years of age. However, some people may not need that money at 72 and would rather continue growing it tax-free for their beneficiaries, surviving spouse, emergencies and more flexibility in the future.
Learn How To capitalize on a gift from our government!
This coming Tuesday, at my Wealth Protection Webinar, I will be teaching about how to best plan to prepare, prevent and protect using two vitally imperative strategies to take advantage of this government gift.
- Roth IRA Conversion – This involves moving the proper amount of money from a “tax me later” status to a “tax me never” position and then using a little-known tax deduction to help offset the conversion tax
- Roth IRA Alternative – This unique strategy allows you to grow, distribute and transfer your retirement savings, all without tax! It also features no market losses and unlimited growth potential to safeguard your hard-earned savings.
You’ve worked hard for your money. Imagine, more financial success, less stress, less worry and learning the most strategic ways to cash in on this government gift. But you need to act quickly, this gift may be taken away soon. There are rumblings that the current administration may move to restrict who can take advantage of Roth IRA conversions and what types of assets can be owned in a Roth IRA.
Take advantage of one of the few (and far between) gifts from our government while it’s still available. Let’s get to work! Learn what you can do to save yourself an enormous amount of tax, starting right now, in 2022. This Tuesday, at my Wealth Protection Webinar, I’ll be teaching strategies designed for those who like to save and keep more of that savings for themselves.
To register for Tuesday’s no-cost, no-obligation, log on and learn financial educational event, simply follow these four simple steps:
- Go to www.RetirementProtected.com (or scroll down to the form below).
- Select the webinar date/time you prefer.
- Enter your information thoroughly – make sure to double check your email address.
- Click “Reserve My Spot!” to submit, that’s it!
Once you’ve registered, you’ll receive an email containing a personal access link to join Tuesday’s event. Don’t forget to add it to your calendar!
This misguided administration’s plans are targeting high income earners and strong savers in 401ks and IRAs. These are the people who will benefit the most from our proven solutions. Solutions with a track record of measurable results.
Register for your preferred webinar time now because these events have proven to fill up fast.
Those who attend this event will receive a complimentary copy of my latest eBook:
The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.
Spouses and Significant Others are Encouraged to Attend This Event Together
Chuck Oliver
Wealth Strategist | Best-Selling Author
We help Baby Boomers and Retirees thrive in retirement through a clear retirement road map that provides market correction and tax protection to optimize income and assets!
www.TheHiddenWealthSolution.com