The vast majority of wealth and assets of pre-retirees are held in tax deferred codes such as the 401K and IRA. If you fall under this category, you are exposed to future tax risk and increases. The Individual Retirement Arrangement (IRA) leads you to believe it’s your individual account. In reality its part yours, part the IRS. The IRS gets a guaranteed stream of taxes from it for the rest of your life. Use the link below to schedule a meeting today.

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Disclaimer: This video is for Informational purposes only. Information provided in this video does not address any individual’s personal situation. A professional advisor should be consulted to assess your individual financial needs and goals before implementing any of the opinions presented.

Transcript
Hello I’m Nathan Wilson with GuideSpring Wealth Strategies, Investment advisor and Certified Tax Specialist. One of the first conversations I have with a potential new client that has taken advantage of a complimentary consultation is to educate them on why I call the Individual retirement account or the IRA the IRS’s retirement annuity. The vast majority of wealth and assets of pre-retirees is held in tax deferred codes such as the 401K or the IRA. And often times with the potential new client I hear phrase, something they say like I have $500,000 in my IRA, and what they should say is I have $400,000 in my IRA, there’s $100,000 unpaid tax loan to the IRS, because the taxes are embedded in your IRA as well as your own money. The problem with that is you don’t control taxes in retirement, a yet to be elected congress sets the tax rates that you will pay in retirement. And the mathematical fact of this scenario is with our rising cost of our national debt and the essential strain of the entitlement programs that are caring for the aging baby booming population such as social security payments, Medicare, Medicaid are causing a strain on our fiscal and our financial well-being as a country and are going to force a dramatic increase in taxes in retirement, thus carving a greater and greater share out of the net worth that you’ve saved for those retirement years. If you’d like to talk about an alternative to the IRA and the fact that it’s an IRS’s retirement annuity guaranteeing a stream of payments to them the rest of your life, we can discuss a Triple Tax Protected investment tax codes that protect you from capital gains tax, protect you from income taxes, protect your heirs from inheriting an unpaid tax bill. If you’d like to talk further about this please use the schedule a consultation button below and I look forward to chatting with you soon…(read more)

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