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Protect Yourself from Tax
In this week’s Hidden Wealth Review, I teach what you can do to save tax in 2022. This week, I want to share two case studies as examples of what you can do.
Click Here to review two examples of how we helped client couples cut their taxes and protect their retirement with two unique Hidden Wealth Solutions!
The first clients are a retired couple from Illinois looking to get better through retirement. Next year, he’s facing Required Minimum Distributions (RMDs). She’s a number of years younger than he is. He had not yet transferred his work retirement account to an IRA.
They don’t really need the money from his RMD, yet they are still forced to take it. The only thing this RMD would do for them was to push them into a higher tax bracket, requiring them to pay more state and federal income taxes.
We were able to teach them how to transfer his work retirement account into a traditional IRA to his spouse, with no tax. We then taught them a strategy to convert a traditional IRA to a Roth IRA without paying the tax from their own pockets. By the time they get to his wife’s RMD age, their new plan is to not have any RMDs forced upon them, because their money will be in a Roth IRA, where it’s protected from taxes for both themselves and their family.
If you are already retired, but you haven’t rolled over your retirement account to an IRA and your spouse is younger than you, there are great things you can do to have opportunities to save taxes!
Our second couple are trying to get to retirement. They are both in their fifties and the husband is looking to retire in five years.
In most cases, until you’re 59.5 years old, you usually cannot access the money in your employer’s retirement plan. However, if you’re not 59.5 yet, you can still access your retirement (tax-free) by transferring the money from your 401(k), 403(b) or 457 plan to a spousal IRA. This allows access to more investment options with less cost and less risk plus, it gives you more time to do Roth conversions before you are forced to take RMDs. It’s always easier to prevent a higher tax liability today than it is to clean up tax exposure later.
Both of these couples also learned how to do what we call a rich man’s Roth alternative. Using this solution, you can grow your money tax-free; no federal or state income tax, no capital gains tax, no RMDs, no inheritance tax to your family and no tax to Social Security or Medicare.
LEARN What You Can Do to Protect Yourself from Tax in 2022!
I want to teach you what you can do to pay less tax, starting in 2022. Imagine, less tax to help offset this higher inflation. Learn now what you can do to lower taxes starting in 2022. Register now to attend Tuesday’s Wealth Protection and Preservation Webinar. Discover how you can start paying less tax.
To register for Tuesday’s no-cost, no-obligation, log on and learn financial educational event, simply follow 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!
Joe Biden’s tax plans are targeting high income earners, those with large capital gains as well as those with estates valued over $3.5 million. We find those higher income earners of $200,000 or more or those who have saved $1 million or more benefit the most from our proven solutions with a track record of measurable results.
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!