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Missed Fortune – Keeping Your Money Safe is Now More Important Than Ever

Posted on | March 31, 2013

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Lessons From Cyprus

The government in Cyprus recently sought to seize a certain percent of their citizens’ bank accounts in order to stave off national bankruptcy. The original plan to bailout their national economy was to levy a 6.75% tax on all bank accounts with up to 100,000 Euros and a 9.9% tax on accounts above that threshold.

When the president of Cyprus called upon their parliament to pass this measure, it sparked a run on the banks and further destabilized the entire 17-member European Union.

The impact almost instantly ricocheted into the global financial markets which shows how truly connected these markets can be.

This unprecedented action should have people everywhere considering what they can do to better protect their money from such acts of desperation.

There is a powerful lesson here for those who are paying attention and it’s that the days of the economic markets going endlessly upward are gone. People who are keeping their serious future money in IRAs and 401(k)s are counting on the Dow Jones or other indexes to start an extended period of growth. They’re going to be in for a rude awakening if they believe that the upward spiral of growth from the 1990s is going to return.

The question you should be asking yourself is “what am I doing to protect my serious cash?”

This is the time to be considering what’s known as a strategic rollout that will move your retirement money out of that 401(k) or IRA. This way, instead of putting off those taxes for some future perceived advantage when you think you may be in a lower tax bracket, you get those taxes over and done with. Then you get your money into a vehicle where it can safely accumulate tax-free from that day forward.

The strategies that make this possible have been safely grandfathered into the IRS code for well over 100 years. They are perfectly legitimate and, most importantly, they work.

Breaking Free From the Crowd

Those who will enjoy a brighter financial future are the individuals who consciously choose to take ownership of their futures instead of relying upon the government to take care of them in their golden years.

There are good ways, better ways and best ways to prepare for retirement. At one time the IRA and the 401(k) were each considered a good way to save for the future. But this is no longer the case. Not only do you face the prospect of higher taxes by the time you reach retirement, but also as we see in the case of the nation of Cyprus, the world markets are still subject to unpredictable behavior.

If you think that you’re safe because your money isn’t in the bank but is instead in the market, it’s still in great potential danger from economic uncertainty.

Even Roth IRAs, which were considered a better way than a standard IRA, can no longer be thought of as the best way to build a retirement nest egg that enjoys liquid assets safely earning a predictable rate of return.

The bottom line is that there are better ways to save and to enjoy tax-free income in your retirement.

With the right strategies, you can sleep soundly at night knowing that regardless of who may be raising taxes, no matter what is happening in the markets, you don’t lose money.

In 2008 when the market in America dropped 40% for the second time in a decade, a lot of people were bewildered. The $100,000 that they had in their retirement accounts was now only worth $60,000. Every $1 million they had socked away was now only worth $600,000 and many felt that they had lost their future.

On the other hand, folks who understood and used the Missed Fortune strategies were not troubled because they didn’t lose a dime of precious principal. Better still, when the markets did experience growth, these folks got to participate in the upside immediately.

That’s what you need to be doing. You need to protect your money from higher taxes, rising inflation and ongoing market uncertainty.

Learn exactly how to do this by visiting with a wealth architect today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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