The Most Dangerous Misconception for Retirement!

In this week’s Hidden Wealth Reviews, I teach about the most dangerous misconception for retirement planning, not having a tax plan and misunderstanding what tax planning truly means. The big misconception that is costing retirees, working individuals and business owners a fortune in unnecessary taxes is the failure to distinguish between tax preparation and tax planning. This insight comes from a group of CPAs who focus on tax planning, not just tax preparation.

 If you’ve saved your retirement money into an IRA or 401(k), whether you’re still working or you are already retired, you are sitting on a ticking tax time bomb! We recently shared this concept with a coaching community of nearly 200 people. The overwhelming majority of them had more than 95% of their retirement in tax-deferred accounts. The IRS just can’t wait to get their hands on these accounts.

If you want to see how this impacts you, your retirement or your legacy, go to TaxesSaved.com, watch the no-cost, no-obligation educational webinar and request your personalized Saving Tax Optimization Plan (S.T.O.P.) Analysis.

Here’s why it matters:

• Tax rates are set to increase in the next seven months.
• 95% of clients we meet have 95% of their future retirement savings in tax-deferred accounts.
• Required minimum distributions – many retirees are being taxed on withdrawals that they don’t need, simply because the government mandates them.
• You can’t Roth-convert inherited IRAs – once your children inherit these accounts, their tax exposure can skyrocket.
• $124 trillion is about to transfer – a large portion of this wealth is in tax-deferred accounts that have yet to be taxes. The IRS is counting on this.

Regardless of your age, if you’re a high-income earner, a heavy taxpayer or a heavy saver who knows you’ll have to pay the piper but aren’t sure of your tax bill, it’s time to take action. Go to TaxesSaved.com and watch the complimentary educational webinar that explains how you can eliminate unnecessary taxes with strategies used by the ultra-wealthy.

At TaxesSaved.com, you will find a concise, on-demand, educational webinar that covers two tax strategies under Section 179 and Section 181 of the Internal Revenue Code. These programs have been around for decades and the good news is that you don’t have to be a business owner to benefit.

Let us teach you how you can become a business owner for additional tax savings without having to quit your day job because you incorporated a business into your tax planning strategies. You’ll unlock new deductions and save more without changing your career. This is the kind of planning you’ll learn in the webinar. To view the webinar, go to TaxesSaved.com

If you’ve been told by your CPA that Roth conversions don’t make sense for you because of your income, it’s time to double-check the math. Most people have tax preparers, not tax planners. Planning is what makes the difference, and the numbers don’t lie. If you are a high-income earner, you are exactly who should Roth convert. The sooner you do, the more tax savings you’ll enjoy!

Avoid The Most Dangerous Misconception For Retirement

When you visit TaxesSaved.com, you can watch the educational webinar and request an electronic copy of the book, The New Holistic Retirement, for which I wrote the foreword. This short read will teach you about the risks of rising taxes and the legislative changes that have been occurring regularly over the past five years. It will teach you how to stop gambling when it comes to future tax rates and rules.

Right now, we are facing:

• Higher unemployment.
• Shrinking economic growth.
• Fewer people paying into the tax system with 4.1 million people turning age 65 the next three years .
• $2 trillion in projected deficit spending this year (and higher in the future).

Imagine, removing your income and assets from the tax system. If you’re a high-income earner with significant savings in 401(k)s and IRAs, now is the time to consider Roth conversions. The Tax Cuts and Jobs Act is scheduled to sunset and taxes are expected to rise due to our aging population. We will have more 65-year-olds in the population in the next five years than we have 18-year-olds, a first in our country’s history. Over 4.1 million people are turning 65 each year for the next three years.

You work hard for your money. Take the following steps to request your Saving Tax Optimization Plan (S.T.O.P.) Analysis:

1. Visit TaxesSaved.com – Review the short, insightful webinar that shares two impactful client case studies savings thousands in taxes.
2. Request your S.T.O.P. Analysis – Saving Tax Optimization Plan.
3. Select a Date and Time – Be specific! Choose a date and time to speak with us so we can assess your tax-saving opportunities.
4. Show Up and Learn Your Tax Risk – We’ll walk you through the exact steps you can take to eliminate unnecessary taxes and keep more of your money.

Don’t let taxes strain and drain your income, retirement or inheritance. Visit TaxesSaved.com now to watch the webinar, download the book and take the first step toward eliminating unnecessary taxes and building a tax-free future. Your savings deserve to work for you, not the IRS.

Note: We serve Baby Boomers and Retirees all over the Unites States. We have an efficient, supported process to meet online, as we 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!
www.TheHiddenWealthSolution.com