09 Oct How traditional retirement accounts can be a financial disaster
American retirees’ biggest fear is running out of money before they die…Having to live beneath the poverty line because of multiple forces working against them…one such force being taxes.
Increasing tax rates are here and promise to only increase under the current administration.
Biden and Congress are just getting started with the taxation of Americans in the most massive expansion of government since Roosevelt’s New Deal campaign in the 1930s.
This is a government that is known for extravagant waste. Take the latest COVID omnibus bill for instance. As millions of Americans and small businesses are struggling with health and financial crises, Congress had a chance to prove that they are “for and by the people.” But instead, they once again gave evil handouts to their favorite special interest and political groups like:
- Millions for Random Countries Around the World:
- $86 million for assistance to Cambodia
- $130 million to Nepal
- $135 million to Burma
- $453 million to Ukraine
- $700 million to Sudan
- 25 million for Pakistan
- Kennedy Center – Another $40 million will be allocated “for the necessary expenses for the operation, maintenance and security” of The Kennedy Center, which received $25 million in another COVID-19 relief bill earlier this year.
Note that the Kennedy Center has been closed!
- And this doesn’t even begin to address the fraud and abuse in Medicare and Medicaid payments rampant in 2020 alone.
Why is this important and how is this related to my tax-deferred retirement programs you may ask? Read on!
Many people thought they were safe and secure in their tax-deferred accounts like 401ks, 403bs, IRAs, and the like. But they bought into the lie that government-sponsored tax-deferred plans are safe. Not so! Someone must pay for these shenanigans. Answer these questions:
- How has the pork-belly spending and waste affected the value of your dollar? (Hint: it has devalued your spending power exponentially with every increasing year)
- How will the artificially suppressed interest rates in a zero-rate world strap us and our children in the future? (Hint: not well – See Japan from the 1990s to now)
- What will your retirement account be worth when you retire or when you need it? (Hint: You nor I have any idea and cannot say with certainty; you can only guess because tax laws are changing, and inflation is rampant)
- What will your tax rate be when you retire and must pay taxes on your distributions? (Hint: you nor I have any idea but guaranteed if the current administration has its way, it will be higher and higher taxes)
Who will pay for this unsustainable printing of money and ridiculous spending? You, Your Children, and Your Grandchildren.
The promises that big corps and the ultra-wealthy will be footing the bill are simply a continuing stream of lies. Come on! Who do you think lobby and make the laws in the first place? No – you and I, our children, and our grandchildren will foot the bill in the form of confiscatory tax increases in the future. Future generations will be paying for decades to come.
HERE IS THE GOOD NEWS!
You don’t have to play in their sandbox!!!
Did you know that you can actually “opt-out” of this system and play in your own banking sandbox?! You can …with Private Banking Strategies.
With Private Banking Strategies you can lock your cash assets into a vault that protects and grows your wealth tax-free ensuring that it is there when you need it most.
There are 7 pillars of the properly structured Private Banking Strategy that makes it the perfect asset allowing you to “opt-out” of the coming confiscatory tax grab and preventing a cash void in retirement:
- Asset Protection
- Tax-Free Growth
- Financial Privacy
- The “Velocity of Money” – Multiple Touches on the Same Dollar
- Guaranteed Compounding Tax-Free Growth – can NEVER GO BACKWARDS
- Guaranteed Financing
- Legacy Value – Tax-Free transfer to heirs
We will provide you with a financial roadmap to rest securely knowing you won’t run out of money and won’t pay unnecessary taxes with this “secret” contract used by the rich and political elite for centuries. Let the 7 pillars of Private Banking Strategies do the work for you as you sit back with your cash in a protected fortress.