Protect Your Retirement from COVID-19

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Tax Avoidance

Even before the COVID-19 pandemic, the Baby Boomers and retirees with whom we work with had serious concerns about the security and financial stability of their retirement. This includes those who are trying to get to retirement and those who are trying to get through retirement. The risks for retirement are re-surging as a direct result of this week’s ongoing talk of higher taxes and the market swings from two days of 700 point drops.

A recently released nationwide survey found that roughly half of Baby Boomers and retirees agree that the COVID-19 pandemic has made them recognize the need to protect investments against market risk and to protect their retirement income.

According to the online 2019 Tax-Efficient Retirement Income survey conducted by Harris, over one third of current retirees did not consider how taxes would affect their retirement income when they planned for retirement. As a result, many express regret. A third of retirees report that they wish they had prepared better for paying taxes in retirement. This higher tax concern was before trillions of dollars of stimulus were added to the deficit and at least another $3 trillion more going to a vote!

The survey found two in five future retirees are terrified of what taxes will do to their retirement income yet, 35% rarely consider the taxes they are paying or will pay in retirement. Further, less than half of current retirees say they know how to leverage taxable, tax-deferred and tax-free accounts.

The survey also reveals that, even before COVID-19 impacted financial plans, older adults (age 50 and above) had concerns about the uncontrollable and controllable aspects of retirement that could threaten their financial security. By taking the right steps to plan for taxes in retirement, retirees can help offset the negative impact of taxes and crashes reducing their retirement income. An ounce of prevention is worth a pound of cure. The time to protect your retirement money is right now in 2020!

Many people have come to us saying that they don’t have enough time before retirement to recover from more market mayhem. They also don’t know where to put their money to protect themselves from more taxes. One client told me that what they like about The Hidden Wealth Solution is knowing the best strategies with a track record of proven results and how to place all of the necessary pieces together for asset optimization and income maximization. Retirement safety and security.

I’m reminded of some clients from St. Augustine, Florida with whom we met this past week. We taught them how to create a stable, $8,000 a month, tax-free and market protected retirement income. By doing so, they have eliminated the stress and concern over having a safe and secured retirement.

We recently helped a couple in their early eighties. Their concern was that they were going to leave a major tax burden to their daughter. They also wanted to make sure that their retirement savings wasn’t over-exposed to market risk. We have discovered that many people are unaware of the retirement risk road on which they’re traveling and how to reroute their retirement road for safer travels. We can teach you the retirement risk road you’re on and show you the path around unnecessary pitfalls such as market corrections and tax “gotcha’s” that have or will cause Baby Boomers and retirees to not reach, reduce or even ruin their retirement.

Believe in better! This coming Tuesday I’ll be teaching my new Retirement Protection Webinar. I’ll be teaching how you can upgrade to a 21st century retirement. A retirement where you enjoy upside market gains without suffering downside market losses.

To register, go to www.RetirementProtected.com, enter your information and submit the registration. Once you’ve registered, you’ll receive an email containing a personal link to join Tuesday’s event. Let me teach you how to protect your retirement money while there is still time in 2020. Avoid the predicted market losses and protect your retirement income from higher and unnecessary taxes.

I encourage you to register for your preferred webinar time now, because these events fill up fast. Those who attend this event will receive an e-copy of my latest book, The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.

– Spouses Are Encouraged to Attend This Event Together –

Let me leave you with one final thought. You’ve worked hard for your money, don’t needlessly give it away to the the stock market or to government through unnecessary taxes. Let us teach you how you can legally, ethically and morally avoid unnecessary taxes and how to protect your retirement savings from market mayhem. Let’s get to work!