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In this week’s Hidden Wealth ReviewI want to talk about the importance of loss prevention with tax protection. A return on taxes (meaning the elimination of taxes which can be legally avoided) is a predictable return. By using proven solutions that have a track record of measurable results, you can significantly increase your retirement income using special provisions that are still available while we have the Tax Cuts and Jobs Act (TCJA). But some of these solutions will disappear once the TCJA is officially abolished or it finally sunsets.

The absence of the TCJA will have a significant impact on those who have:

  • Saved $500,000 or more in tax deferred accounts such as 401(k)s, IRAs and 403(b)s.
    • Please note, you will pay over four times in taxes whatever amount you currently have in your taxed deferred accounts (at today’s tax rates)!
  • A net worth of over $1 million, exclusive of a primary residence. This net worth qualifies for a current 100% tax deduction in the same year when many Baby Boomers and retirees are drastically reducing their taxes. They are using this deduction to zero out Roth conversion tax!

There are things you can do to still take advantage of protecting your money in 2020 but the time to do so is fading fast. The time to act is now!

Here are a few examples of loss prevention and tax protection that are impacting Baby Boomers and retirees in 2020:

  • Bill and Sandra were in their early seventies. They told me that taxes were killing them. They were now being forced to take Required Minimum Distributions (RMDs) and these were pushing them into a higher marginal tax bracket. Many older retirees have told me that, if their older self could talk to their younger self, they would tell themselves to get the money out of these tax deferred accounts well before retirement or to not put money into these ticking tax time bomb accounts at all.
  • Irvin is from Illinois. He’s concerned because there are a lot of states, like his, that are looking for ways to raise more taxes. Illinois is one of three states that doesn’t currently tax retirement income. However, this issue is on the ballot. Irvin wanted to eliminate taxes from his retirement anyway and, with this issue now up for a vote, it’s a great time to take care of this challenge.
  • Joe and his wife had moved from Illinois to Tennessee to escape higher taxes. His goal is to have his money safe from being lost to taxes or a stock market crash or correction.

We are helping one of our clients, Veronica, to retire. We were able to show her how she could do so by the end of the first quarter of 2021. We were able to help her Roth convert $1 million out of her tax-deferred accounts and, using a special provision in the TCJA, we were able to zero out the tax on the Roth conversion. She will begin retirement with a tax-free income that will grow from $51,000 a year to over $80,000 a year and last for the rest of her life. As a bonus, she has no downside market exposure. Her retirement now has loss prevention protection, her retirement income is insulated from the IRS and her savings are protected from any market losses.

Another client, Randy and Carrie, are from Florida and they have been retired for a few years. Using the same TCJA provision that we used with Veronica, they were able to Roth convert $300,000 out of their tax-deferred retirement accounts and zero out the taxes. They were worried sick because they have saved over $3 million in tax-deferred accounts. Their RMDs were going to be starting at over $175,000 a year! This pushes them into a higher marginal tax bracket, taxes over 85% of their Social Security and causes them to pay a Medicare Parts B & D premium surcharge. The RMDs are projected to cost them over $20,000 in government gotcha’s. Now, they have eliminated all of these dangers.

This coming Tuesday, at my Wealth Protection Webinar, I will be teaching how you can still save taxes on your money in 2020. This will likely be the last opportunity for those who are serious about protecting their money in 2020.

With the election’s unknown outcome time frame and the end-of-year coming, there will not likely be another chance to get a plan in place before the end of the year. Don’t kick yourself for sitting on the sideline. If you are serious, the time to act is now! Many will be Biden tax blindsided if they allow their tax savings planning to get away and the Tax Cuts and Jobs Act gets abolished!

You’ve worked hard for your money! Let me teach you the top solutions to reduce your taxes and eliminate the risk of market corrections. If you are serious about protecting your retirement money while we’re still in 2020, Tuesday’s event is a must attend. Imagine, more financial success, less stress and less worry.

This event is for those who have a net worth of $1,000,000 or more as well as for those who have saved at least $500,000 or more in IRAs and 401(k)s and who want to protect their money while we’re still in 2020.

To register, follow these four simple steps:

  1. Go to (or scroll down to the form below).
  2. Select the webinar date/time you prefer.
  3. Enter your information thoroughly – make sure to double check.
  4. 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 no-cost, no-obligation educational event will teach you how to avoid a taxed to the max situation for yourself and it will teach you how to avoid passing taxes along to your children.

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

Note: We serve Boomers and Retirees all over the Unites States. We have an efficient, supported process to meet online, as have been doing for over 20 years. Our online meetings are private, the access is restricted and we never share our meeting link with anyone who’s not a part of the meeting.

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!