In this week’s Hidden Wealth Review, I teach about three common government “gotchas.” Required Minimum Distributions (RMDs). The money you saved into your 401(k) or IRA will trigger RMDs when you are 70.5-years old. This pushes you into a higher marginal tax bracket. As a result, you pay higher taxes on all of your income. Taxes on Social Security. When you’re forced …
In this week’s Hidden Wealth Review, I teach not to gamble your retirement on next year’s election. If a Democrat gets elected, you will face what I call The New Triple Retirement Tax Threats. Here are those three threats. Repeal of the Step-Up in Basis proposed by Former Vice President Joe Biden. If the step-up in basis is repealed then, when your …
In this week’s Hidden Wealth Review, I teach how there’s never been a more important time to re-engineer your retirement. One of the most important moves is making your retirement resilient to taxation. There couldn’t be a more important time to do this than right now. After two decades as a Wealth Architect, I’ve learned that it’s difficult to plan confidently for …
In this week’s Hidden Wealth Review, I borrow from comedian Chris Rock’s routine and remind you that we don’t pay taxes, they take taxes. Because of the taxation focus of the 2020 Democratic candidates, taxes are going to be a big deal. Federal appellate judge Learned Hand once said that, in our country, there are two tax systems; one for the informed …
In this week’s Hidden Wealth Review, I teach how to not have the “hell” taxed out of you. New York Mayor and Democratic hopeful Bill de Blasio, wants a “fair“ tax rate of 70%! As a follow-up to his statement during the recent Democratic debate, Mayor de Blasio created a website, TaxTheHell.com. If you’re between the ages of 55 and 75 years …
