Please Click the Video to Watch This Important, Short Message
In this week’s Hidden Wealth Reviews, I teach that you can avoid paying more, the earlier you start tax saving planning, in 2024. Many people are now beginning to understand the harsh reality of taxes in retirement by using our free resource at RetirementTaxCalculator.com. This retirement planning tool will allow you to see, in 30 seconds, the tax risk road on which you are currently traveling.
Let me ask you as question. If you wouldn’t put all of your eggs in one retirement savings basket, why would you put all your retirement savings in one tax basket? The tax sale that was created by the Tax Cuts and Jobs Act (TCJA) will expire in the next two years. See how you can stop paying more by learning what you can do, right now, in 2024!
When the TCJA expires, those with taxable incomes between $40,000 and $500,000 will see their taxes rise anywhere from 10% to 15%, according to the Peterson Foundation. Where do you feel taxes will go if the U.S. now spends more in gross interest on $34 trillion in debt than it spends for national defense?
Who holds the IOUs on all of this debt? Well, if you have an IRA, it’s really an IOU to the IRS! Present day, this country spends a whopping $2 billion a day just on interest. The compounding fiscal cycle created by this debt will continue to damage our children and grandchildren.
Whether you’re already in retirement or even five years from retirement, it’s never too early and it’s never too late to get a head start to be sure you’re being tax smart. Learn how much lower your taxes can be. Discover how to not pay more by learning, in 2024.
The two greatest retirement myths for the clients we help are:
- You stop paying more taxes in retirement.
- When you retire, you’ll be in a lower tax bracket.
In my over 25 years of experience as a retirement planning specialist, I have seen that, for those who are strong savers in tax deferred savings vehicles such as 401(k)s and IRAs, the tax on those accounts is a multiplier often beyond the amount of your balance. In other words, the tax that you will pay on the distributions from tax-deferred retirement savings accounts can surpass your current account balance. This not only increases your taxable income, which can push you into a higher marginal tax bracket, it triggers other government claims on your money in the form of tax on your Social Security income benefits and Medicare surcharges. This coming Tuesday, at my Tax Protecting Your Retirement webinar, I will be teaching strategies that allow you to prevent Uncle Sam from becoming your biggest retirement partner.
Click Here to learn how two clients, Dave and Steven, discovered their tax risk road and how they were able to avoid paying large sums of unnecessary taxes.
Until he met with us, Dave was on track to pay four times the amount of tax that he could legally pay. Dave learned how to use a little-known tax deduction (for which he qualifies) to strategically rollout money from his traditional IRA into a Roth IRA. We showed him how he could use this deduction to offset the taxes that would have normally been due on the conversion. This way, he doesn’t have to pay the taxes out of his pocket. Dave now has a strategic plan for removing his retirement from the tax system and he has insulated himself and his family’s inheritance from the IRS.
Steven was in his mid-forties. He went to RetirementTaxCalculator.com and learned that he was going to pay three times more in taxes than his current total IRA balance. He was on track to pay $2.9 million in total taxes. If he just did traditional Roth conversions, he would have only paid $352,000 in taxes, savings over $2.5 million in taxes alone! However, by using strategic Roth conversions in conjunction with that little-known tax deduction, Steven now has a plan that will enable the offset of his Roth conversion taxes.
How Big is Your Retirement Tax Bill?
LEARN MORE ABOUT TAX SAVINGS
The U.S. is paying $2 billion a day in interest and the Biden administration is already looking for $30 trillion in new taxes by 2030. Don’t you want to learn how much more in unnecessary taxes you can legally avoid, especially before taxes rates go up? This is the time to learn how to not pay more starting now, in 2024.
Make your New Year’s tax savings resolution, now! First, go to RetirementTaxCalculator.com and learn, in 30 seconds, how much tax exposure you have. Then, register for Tuesday’s no-cost, no-obligation financial educational event by following these four simple steps:
- Go to www.RetirementProtected.com (or scroll down to the form below).
- Select the webinar date/time you prefer.
- Enter your information thoroughly – make sure to double check your email address.
- 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!
Strong savers in 401(k)s and IRAs and high income earner are the people who will benefit the most from our proven solutions. Proven solutions with a track record of measurable results. Imagine less stress, less worry. Peace of mind retirement protection.
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.
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!