In this week’s Hidden Wealth Review, I teach that The Wall Street Journal reports Social Security and Medicare are going to cost retirees. There are two retiree dependent programs that require more investigation. I refer to these programs as “Mediscare” and “Social Insecurity.” The Social Security program’s costs will exceed its income this year for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits. This is three years sooner than was expected just a year ago. This is partly due to lower economic growth projections, according to the latest annual report that the trustees of Social Security and Medicare released this past Tuesday. The program’s income comes from tax revenue and interest from its trust fund. 

The trust fund will be depleted in 2034 and Social Security will no longer be able to pay its full scheduled benefits unless Congress takes action to shore up the program’s finances. Without any changes, recipients would receive only about three-quarters of their scheduled benefits from incoming tax revenues.

The report also states that Medicare’s hospital insurance fund will be depleted in 2026, three years earlier than last year’s report anticipated. The nation’s aging population is boosting the costs of Social Security and Medicare, while revenue gains lag due to slower growth in the economy and the labor force.

With Medicare, the challenge that catches many clients with whom we meet is higher premiums. People who have money trapped in 401(k)s and IRAs are forced to start taking Required Minimum Distributions (RMDs) at the age 70.5. The income from these RMDs causes many to experience an increase in their Medicare Parts B and D premiums by hundreds of dollars per month. These increases can sometimes be staggering, especially for those who have not prepared a solution to avoid these higher forced premiums.

From a Social Security perspective, many people are surprised at how easy it is for 85% of their Social Security to be taxed in retirement. Medicare and Social Security are broken and you need to plan now to effectively deal with these hidden retirement taxes.

Medicare and Social Security are the two biggest expense line items in the federal budget. Congress is giving all the warning signs that there are going to be issues with these programs. You are going to pay more for Medicare and you’re going to be paid less by Social Security. Any guesses as to where the Federal Government will look for the money to preserve these two programs? Higher taxes is their answer. Be prepared and you can avoid these costly retirement traps.

Here’s the good news. This coming Tuesday, I will be teaching how to avoid paying higher Medicare premiums and how to avoid having your Social Security taxed in retirement. Many of you have shared your concerns about the impact that rising medical costs will have on your retirement. By simply removing taxes from your retirement income, you can increase your income by $1,000 to $2,000. By not paying that money to Uncle Sam and/or to Medicare or Social Security and keeping it for yourself instead, you can offset those higher medical costs that will only be going higher.

Join us this coming Tuesday for my introduction on how to grow your money without tax, access your money without tax and transfer your money without tax. I will teach you how you can do all of that without subjecting your Social Security to taxes or being forced to pay higher Medicare premiums.

One client recently told me that his only complaint about financial advisor Chuck Oliver is that he wished that he had taken the time to learn these strategies and solutions sooner. The summer is a great time of the year to settle down, get some focus and figure out how to fit together all of the pieces of your retirement puzzle.

To register, go to, 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.

There is no cost and no obligation for this webinar. I encourage you to register now because these events fill quickly. Just for registering and attending, I will gift you an e-copy of my 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 hand held device for this event. Our proven retirement and financial solutions are best for; people positioning themselves for retirement or who want to navigate better through their retirement. People who have saved $200,000 or more for retirement. People who are facing a capital gain on the sale of a property or a business worth $200,000 or more and those with taxable income over $200,000.

-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