Posted on | May 1, 2011 | No Comments
This week Doug Andrew discussed the following:
Upcoming Free Webinar
Attend our free 90-minute webinar live over the Internet this coming Tuesday, April 26th at 11:00 a.m. pacific (12:00 p.m. mountain, 1:00 p.m. central, 2:00 p.m. eastern), and again at 6:30 p.m. pacific (7:30 mountain, 8:30 central, 9:30 eastern). The topic is “True Asset and Wealth Optimization.” You’ll learn how to choose the right investments for liquidity, safety, rate of return and tax benefits.
All attendees receive a bonus hardcover copy of Last Chance Millionaire, Doug Andrew’s New York Times best-selling book.
Higher Taxes-The Writing Is On the Wall
When the income tax code became a permanent part of our lives back in 1913, it was only around 400 pages. It took until 1954 to grow to nearly 14,000 pages.
By 1974 it was 19,500 pages. In 1986, tax reform simplified the tax code to two thick volumes of nearly 26,300 pages. In 1995 it grew to 40,500 pages.
Today it’s 72,536 pages of tax rules.
Our current tax system punishes people for saving and investing. We should be rewarding people for taking ownership of their future. But the congressional revenuers just doesn’t seem to get it.
A dollar that doubles every period for 20 periods can grow to nearly a million dollars if it’s tax free. If it’s tax deferred it’s only worth about $666,000. The rest is eaten up by taxes.
The Congressional Budget Office estimates that by 2050 the average middle income American will be paying 50-60 percent of their income to taxation.
You want a strategy where your money accumulates tax free. But if it’s taxed as earned you pay an average of 1/3 of it in taxes depending upon your tax bracket.
By the time we hit 2016 or 2017 our national debt may have doubled again, so it’s a safe bet that taxes will be going up.
Now is the time to implement a strategy where your money not only accumulates tax free but stays tax free when you go to access it.
Better Strategies to Keep More of Your Money in Your Pocket
There are grandfathered sections of the Internal Revenue Code that have been around for a lot longer than the sections governing IRAs and 401(k)s. These sections actually give you protection from high taxes.
With the strategies we teach, you’ll learn how to be protected when the economy goes down so you don’t lose money, and during those years when the economy is growing you earn up to 15%.
If you used the indexed tax free insurance contracts that we teach you how to use, you’d have doubled your money, tax free, in the past 10 years.
Your money accumulates tax free, you can access it tax free for gain or for retirement, and when you pass away it blossoms and transfers to your heirs tax free.
This is like a secret to many tax attorneys and accountants who haven’t been taught these strategies.
The three greatest dangers we face are taxes going up, inflation and market uncertainty.
The Bush tax cuts are expiring and tax increases are on the way. But we still have a small window in which to act.
Inflation is going to go up. The cost of living will rise. But inflation can actually help you when you link your returns to those things that inflate when we experience inflation.
The third danger is market uncertainty and volatility but we can show you how to protect your money when the economy goes down and to start growing again at the exact instant it begins to go back up.
Great opportunities are available right now by repositioning your retirement funds that are trapped in tax-deferred vehicles and into something that will be tax free from this day forward.
You’ll need to link your returns, from this day forward, to things that inflate so that inflation actually helps you.
You also need to reposition your money to participate in any upside potential in the market with no downside if the market declines. But now is the time to get into motion.
IRAs and 401(k)s are not the best way to save for retirement. Sending extra mortgage payments to the mortgage company is not the best way to get out of debt. And putting your hard earned money at risk in the market is not the safest way to accumulate wealth.
There are time-proven, better ways and you can make them yours by contacting a Missed Fortune advisor.
Bonus Missed Fortune E-Book: Baby Boomer Blunders The average Baby Boomer has less than $50,000 accumulated for retirement (which means many have less than that), primarily due to bad habits and having money invested in the wrong places where economic downturns can diminish their nest egg. Download this e-book now at www.babyboomerblunders.com.