The Weight Of Your World Understanding The New Reality Of Your Retirement Future(1st Edition)
Authors:
Ryan L Morelli
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ISBN: 1692102192, 978-1692102197
Book publisher: Independently published (September 10, 2019)
The Weight Of Your World Understanding The New Reality Of Your Retirement Future 1st Edition Summary: Have you planned on tax rates doubling during your retirement years? If not, that could end up being your biggest mistake.David Walker was the Comptroller General of the United States for 10 years under Clinton and Bush. He said, "Our government has made a whole lot of promises that, in the long run, it cannot possibly keep without huge tax increases."There is enough data for a more than convincing argument that taxes are going up. We already know the current tax code will expire in 2025 and in 2026 taxes are going higher. Unfortunately, getting into a lower tax bracket in retirement is not something that happens by mistake; it takes proactive and strategic planning.If you're in your 50s or beyond, your strategic planning approach is a lot different than if you're in your 20s, 30s, or early 40s, simply because by this time your assets are primarily established. If you're younger, you can change where precisely your contributions are placed. When you're older and have amassed wealth in different types of asset classes, you have the challenge of moving those assets out of the places that are subject to taxation and strategically into buckets that are not.What you will learn in this book:• Why the threat of increased taxation is no joke and how to protect yourself• How Social Security and Medicare cannot survive without significant increases in taxes and decreases in benefits• How the American taxpayer is responsible for paying private pension defaults and the impact that has on your financial future• Why uncontrolled deficit spending by Congress can and will be detrimental to your retirement• How to minimize overall risk in the stock market by using different asset management strategies and insurance contracts• Why Reverse Dollar Cost Averaging can play havoc on your retirement nest egg• How a single Long Term Care need can bleed your retirement dry quickly• And much, much more"Everything a politician promises at election time has to be paid for either by higher taxation or by borrowing." -Margaret ThatcherWe are at the beginning. Although hardly discussed today, in the coming years, this subject will be a common. Increased taxation is coming, and your pockets will be lighter unless you prepare for this possibility. I hope you learn a lot and enjoy the book.
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