The United States government has made trillions of dollars in promises for programs like social security and Medicare—the government simply can’t afford to keep these promises. Some experts have suggested that tax rates may increase dramatically to keep these programs solvent.
One of the most overlooked factors in retirement planning is taxes. If you’re like most Americans, you have saved the lion’s share of your retirement in tax-deferred accounts like a 401(k) or IRA. These accounts will likely be your largest source of retirement income, and every dollar of income withdrawn from these accounts is 100 percent taxable. With an average effective tax rate of 20 percent, 20 cents on every dollar withdrawn will be lost to taxation.
Taxation is a real threat to today’s retiree. With a soaring national debt and many unfunded entitlement programs, taxes are certain to rise, compounding the taxation problem. Our workshops on taxes in retirement are designed to teach you the best retirement strategies to help you insulate your assets income from taxation. Sign up for one of our courses today.
Topics covered at this retirement planning workshop include:
- Why experts say tax rates could double
- How rising taxes will affect your retirement cash flow
- The “catch-22” of 401(k)s and IRAs
- How lost deductions affect your taxes in retirement
- How to be 100 percent certain you are being as tax efficient as possible with your retirement income planning
- How to position your retirement investments in the most tax-advantaged way possible
- How to take full advantage of 401(k) and IRA contributions to maximize tax deductions
- Distribution strategies for maximizing tax advantages to reduce taxation
- How to deduct advisor fees charged in IRAs and 401(k)s
- How to withdraw money from IRAs, tax-free
- Roth IRA conversions
- How to contribute to a Roth IRA regardless of your income level