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So, taxes, and inflation, will reduce your purchasing power and erode your wealth faster than anything. And this is why we really have to look at tax planning strategies going into retirement. Now notice I said tax planning, right? Because tax planning is something that takes place right now, for
Okay, the 250 that we put into the income bucket, that account that we chose to use for him, which was an income annuity, in five years will generate over $27,000 of income for him for the rest of his life. Amazing. And if he dies, the remaining balance will
And in retirement, it’s still the same money comes in, money goes out, but where the money is coming in from is what changes, because when you retire, the paychecks gonna stop. But bills, taxes, and all the things that you promised yourself that you were going to do in
To see a full schedule of our TV airtimes, please click here. *A Roth conversion may not be suitable for your situation. The primary goal in converting retirement assets into a Roth IRA is to reduce the future tax liability on the distributions you take in retirement, or on the
For most people, if you ask them, you know what, what guaranteed sources of income you’re gonna have in retirement. And most people say, Well, we’re gonna have social security. That’s it. And you say, well, is that going to be enough money for you? And they say, No, it’s
People are not money managers, they’re doctors, they’re nurses, they’re, they’re union workers. They’re tin workers. They’re iron workers, they’re landscapers, they’re contractors. They do what they do really well. But you’re asking these people now to take their 401, K’s, and now have them figure out how they’re going
If you’re trying to fund your retirement through Bitcoin, it might mean that you’ve waited a little bit too long to start saving, right? Please don’t, don’t roll the dice with 40 years’ worth of work and high-risk stuff when you don’t have to.
Tesla, you know, everybody thought they were a hero for buying Tesla until went down 70%. I’m not against the market. What am I against is gambling with 30 to 40 years’ worth of work.
Social Security was only designed to cover about 30 to 40% of your salary. That’s about it. So, you know, it’s a big income drop. Sure. And for most people retiring today, the only guaranteed source of income that they’re going to have is Social Security.
