Rule #1: Tax rates will go up by 2030. The Fed needs huge sums of money to pay for unfunded obligations, so taxes will have to go up; otherwise, the country will go bankrupt. Rule #2: In a rising tax environment, there is a mathematically perfect…
The 12 Rules of Tax-Free Investing (Updated and Revised) Read More »
David kicks off the conversation by laying out the 3 basic Life Insurance Retirement Plans (LIRP) and how you can find the best one for your particular situation. For David, an LIRP is like marriage – it’s a long-term commitment that you only ever…
Which LIRP is Best For You? Read More »
David kicks off the conversation by revealing that tax rates will revert to where they were in 2017 – you have only four years to take advantage of the historically low tax rates and do a Roth conversion. David explains that most people will try…
The Roth Conversion Mistake That Could Sink Your Retirement Read More »
David starts the conversation by pointing out that more and more financial experts are convinced that tax rates will rise dramatically to pay for unfunded obligations in the future. One way to protect yourself against rising tax rates is to do a Roth…
The Top 5 Ways to Protect Yourself from Higher Taxes Read More »
Gain Peace of Mind and Empowerment with These Meaningful Financial Moves Widowhood is one of the highest financial risk factors women can face, with an increased risk of falling into poverty after losing their late spouse’s income. Social Security benefits are also cut, anywhere from 33% to 50%, and further losses can be accrued […]
Widow Financial Planning: Three Helpful Tips to Move Forward Read More »
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Fixed Annuities are long term insurance contacts and there is a surrender charge imposed generally during the first 5 to 7 years that you own the annuity contract. Withdrawals prior to age 59-1/2 may result in a 10% IRS tax penalty, in addition to any ordinary income tax. Any guarantees of the annuity are backed by the financial strength of the underlying insurance company.
Converting an employer plan account or Traditional IRA to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences including but not limited to, a need for additional tax withholding or estimated tax payments, the loss of certain tax deductions and credits, and higher taxes on Social Security benefits and higher Medicare premiums. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.
