Monday, March 22, 2010

Your Assets are under attack by THEI.R.S.

Your retirement assets are currently under attack. The Baby Boomers have an estimated $45 Trillion dollars waiting to be accessed for Retirement. The low end of this estimate is around $15 trillion and the high end is close to $100 Trillion. These funds are residing in various types of Qualified Plans(401k, IRAs, 403bs, 457, TSPs, etc). These funds many people have prudently saved and invested during their entire working lives. These assets are under attack by: THE I.R.S or THEIRS.
Here is why these assets are under attack: Social Security/Medicare is financially unsound, Increasing Deficit spending by the Federal Government, and a brand new Health Care entitlement program. These problems, PLUS the increase of Tax rates, these funds are under attack. These obligations must be meet, and the Politicians will grab at any type of cash to pay for these programs. $45 trillion is a large enough amount of Assets that will qualify as a target.
Funds inside of a qualified plan will be taxed, even if the tax payer received tax deduction for the contribution into the plan. If your income was TAX exempt, and you contributed towards a TSP, that is double stupid. The tax payer will be taxed at the current tax rates. Based on recent events with the health care program, do you think that rates will stay low, OR go up? My bet is that the tax rates are going up, and many Baby Boomers will lose most of this $45 Trillion to taxes. They will outlive their money, and die broke, UNLESS they find out the parts in the tax code that provide TAX FREE RETIREMENT! Call us to find out which parts of the Tax Code can be used to your advantage to receive a tax free retirement! Once you find out what the tax codes are, you must begin a plan NOW!!! Call 919-352-9260 and cover your assets NOW!

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