Missed Fortune Super Blog

A Savings Vehicle That Makes All the Difference

Missed Fortune – Don’t Lose the Financial War

Posted on | June 20, 2010

missed fortune super blog itunes 150x150 Missed Fortune   Dont Lose the Financial War

Tax-Payers Versus Tax-Eaters

Many Americans grasp at the hope of a 401(k) taking care of them in their retirement years.

Even after taking huge hits over the last 5 years where most people still don’t have now what they had in 2006, 89 percent of Americans continue to pay into these systems. Why?

Dan Sullivan wrote in the spring edition of The Global Thinker:

“All entrepreneurs today are in a war, whether they realize it or not. They are in the crosshairs of an enemy who wants to make their businesses less successful and less profitable. The war can be stated quite simply, it is between the tax generators and the tax eaters. It is between those who are productive in society and those who live off of others productivity.”

This is important to understand. Taxes are being used less and less for the public good. Instead, they are financing the lives of people who are not giving anything back.

Tax-Eaters want to increase government spending, increase permanent entitlement programs, and increase the number of permanent government jobs.

Understand that the creation of every one of these new jobs is an attack.

Currently 55 percent of people are Tax-Payers. 45 percent are Tax-Eaters — people taking more in social benefits than they pay in.

Over the next 4-8 years there should be a shift over at least 10 percent, increasing the Tax-Eaters in our society.

Why is all of this an issue?

Government Promises are Shaky Ground

This will have dire consequences for all the hard-working people planning their retirements based on the promises of others.

For example, consider the shell game being played in New York. The New York Times writes:

“Pension costs for the state and municipalities are soaring as a result of enhanced retirement benefits for public employees and the decline in the stock market of the past 2 years. Again, given the declines in tax revenues and larger budget short falls, the governments are struggling to come up with the money to make the contributions.”

If cities and states and even corporations continue to borrow money from retirement pools to pay retirement benefits to the beneficiaries, at some point the well is going to dry up.

It is time to take your retirement into your own hands.

Learn to Protect Yourself

Learn to safeguard yourself against the ups and downs of the market. Too many people tolerate market volatility. They suffer from the “that’s just the way it works” mentality.

That is only the way it works if you let it work that way.

You have worked and continue to work hard. You should have the peace of mind knowing that in your retirement years that nest egg will be there for you.

Learn to understand that when the economy goes down you don’t lose and when it goes up you make money. And that money you make can be in a tax-free environment.

Learn the index lock-in and reset strategies and shift your thinking away from trying to time the market.

Over a five-year period you should have a 50 percent increase in your retirement savings. If this isn’t the case, if you are down or barely even, this may not be the effective strategy that so many have been sold on.

Meet with a Missed Fortune strategist to learn how you can win the financial war.

Related Articles:

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

Be Sociable, Share!
  • more Missed Fortune   Dont Lose the Financial War

Comments

Leave a Reply






Warning: Unknown: open(/home/content/36/3927036/tmp/sess_mue3cnhlj7ikhabnl9qj49ue15, O_RDWR) failed: No such file or directory (2) in Unknown on line 0

Warning: Unknown: Failed to write session data (files). Please verify that the current setting of session.save_path is correct () in Unknown on line 0