Posted on | January 30, 2011
- gold viagra 3000mg
- generic cialis usa
- viagra on heart medication
- buy viagra iframe
- order discount viagra
- is 25mg of viagra enough
Protect Your Money Now While Tax Rates Are Low
Thank goodness we have a two-year window in which taxes will not be going up. Mark my words – they will probably go up after that.
Why? In four years, our National Debt has increased from $9 trillion to $14 trillion.
That’s an additional $5 trillion in debt that we will need to deal with sooner or later. The new healthcare legislation is on its way as well.
The Congressional Budget Office said that by mid-century, the average middle-income American will be paying 50 to 60 percent of his income in taxes. We can’t afford it.
Even if they don’t raise taxes in the near future, the government hasn’t increased the tax threshold.
It used to be that the threshold automatically increased based on the cost of living. Now, the government will take a quarter of every dollar over $68,000 for married couples filing jointly and over $34,000 for single people.
On top of that, 41 out of 50 states tack on a 6 to 8 percent state income tax.
So when folks retire and start withdrawing money out of IRAs and 401(k)s, they see a third of their money going to income tax.
They’d have to withdraw $150,000 a year to net $100,000. At that rate, your nest egg will dry up pretty quickly if you’re unprepared.
You have a two-year window to start getting your money out of IRAs and 401(k)s. You need to employ a strategic rollout and put your money into safe, conservative vehicles. These vehicles accumulate tax-free, withdraw tax-free and transfer tax-free.
The Tax and Inflation Power Curve
You must protect your retirement funds from what I call the Tax and Inflation Power Curve.
Higher taxes will reduce your savings and inflation will make your dollar worth less over time. I believe we’re headed for both.
Indexing protects me from inflation by tying my money to the things that are inflating.
With indexing, it doesn’t matter if the economy was what it was 10 years ago. If it went up and down in the meantime, I can show you how to make 8 or 9 percent – essentially doubling your money every 10 years.
You need to create your own economic stimulus and save yourself, because Big Government can’t. You need to know that IRAs and 401(k)s are not the best ways to get out of debt. You need to know that sending more payments to the mortgage company is not the best way to get out of debt.
Now is the time to convert your traditional plans to better vehicles.