In this week’s Hidden Wealth Review, I teach that taxes are the problem. The worst kind of taxes are deferred taxes. Baby Boomers are the largest generation in history to be forced to remove money from their tax-deferred retirement savings accounts (401(k)s, 403(b)s, IRAs, etc.).
According to The Wall Street Journal, the unexpected tax liability from these accounts has created a shock wave of surprise. The Center for Retirement Research at Boston College reports that people are stunned when they discover that the after-tax balance in their deferred savings account is actually 25% to 33% less because of the IRS’s “tax lien” on these accounts. Even if you don’t need the income, the government forces you to take money out of your 401(k)s and IRAs, starting at age 70½, by mandating Required Minimum Distributions (RMDs).
Baby Boomers taking their first RMDs are shocked when they discover how much more tax they have to pay. To make matters worse, one client told me that, because of her RMD, the government is taxing 85% of her Social Security income benefit.
During a recent consult, a client said he was unaware that you could use the tax code to “untax” IRAs and 401(k)s. He was pleasantly surprised to learn that our safe-savings solution doesn’t force you to take any RMDs either.
Let me teach you an advanced, yet easy-to-understand strategy to convert your IRA so that it’s tax-free from this day forward! This strategy is free from RMDs and their devastating tax impact. Deferred taxes equal increased taxes.
I want to teach you to become a tax-free retiree. To learn, simply register for and attend this Tuesday’s Tax Protection Webinar. This no-cost, no-obligation educational event will teach you the tax-savings strategies that help you to stop the federal government from becoming your biggest beneficiary.
To register, go to www.RetirementProtected.com and enter the required information. Once you’ve submitted your information, you will receive an email that contains a special 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 will teach you the top five retirement risks and the unique solutions that you can use to avoid them.
Here’s to your Hidden Wealth,