In this week’s Hidden Wealth Review, I teach how you can control your tax as opposed to how your tax can control you. I call this CYT – Control Your Tax.
We recently met with a client who had followed traditional retirement advice and saved most of his money into 401(k)s. These accounts were eventually rolled-over into IRAs. He was now age 70.5 and his day of reckoning, when he has to start taking Required Minimum Distributions (RMDs), had arrived. It’s common for RMDs to create a flurry of unnecessary taxes and so it was with him. I want to teach you that it doesn’t have to be that way.
This particular client had done a great job of saving for retirement. He worked hard, saved hard and, unfortunately, he was now getting taxed hard. There’s a difference between someone telling you what you owe and someone teaching you how much less you have to pay.
This client expressed how The Hidden Wealth Solution Tax Strategy, with its legal tax avoidance, amazed him. He said that no one had ever taught him a strategy for how to un-tax yourself.
Unfortunately for him, he had a brokerage account that was throwing off huge capital gains, even though the account itself had actually lost money. This pushed him into a higher marginal tax bracket. He and his wife’s RMDs were nearly $100,000, which pushed their tax bracket even higher. On top of that, 85% of their Social Security income was being taxed! Incidentally, neither he nor his wife’s pensions had a survivor benefit.
We saved this client over $500,000 in tax by getting the IRS out of their IRAs. We completely eliminated their RMDs and removed the anxiety of not having any pension survivor benefit by creating a tax-free, lifetime income for the surviving spouse. Eventually, all their wealth will transfer to their two daughters, totally tax-free!
This coming Tuesday, I’ll be teaching my Wealth Protection Webinar. This no cost, no obligation educational event will teach you one of our proven strategies with a track record of measurable results. Imagine, taking control of your taxes to better your retirement savings and retirement income.
You may not realize it but, your greatest tax deduction is likely sleeping right beside you. Getting spouses coordinated on pension options, filing for Social Security, taking RMDs, etc., can eliminate a lot of unnecessary taxes. Let me teach you how to control your taxes instead of your taxes controlling you.
Avoid the mainstream retirement advice that recommends saving your money in IRAs or 401(k)s and then deferring the taxes until later in life. This fraudulent retirement scheme is designed to make you the government’s perfect taxpayer.
To register, go to www.RetirementProtected.com, enter the required information and submit your registration. Once you’ve registered, you’ll receive an email containing a personal link to join Tuesday’s event.
I encourage you to register for your preferred webinar time now, because these events fill up fast. For those who attend this event, I will gift you an e-copy of my latest book, The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.
NOTE: This is a log-on and learn webinar, not a live workshop. You will need a laptop or PC to join. It is strongly suggested that you NOT use an iPad or a handheld device for this event. Our proven retirement and financial solutions are best for people positioning themselves for retirement, those who want to navigate better to or through their retirement, those who have saved $200,000 or more for retirement and people who want to determine if they are maximizing and optimizing their retirement planning. Our solutions are also suitable for Baby Boomers who want to protect their savings from market losses, pay the least amount of taxes on income, reduce or eliminate tax on their Social Security and create a sustainable, increasing, lifetime income for both spouses.
-Spouses are encouraged to attend this event together-
Or Call
(855) No Tax 2 U
(855) 668-2928
Here’s to your Hidden Wealth,
Chuck Oliver
Best-Selling Author