LAKE MARY, Fla. (PRWEB) January 28, 2020
Lake Mary, Florida top financial planner and wealth advisor Chuck Oliver, owner of The Hidden Wealth Solution, recently launched his January 2020 edition of his retirement and your tax guide where readers will learn how to protect their retirement from taxes with the removal of the stretch IRA rule changes and the new Required Minimum Distribution rule changes.
Oliver stated, “We help baby boomers and retirees thrive in retirement by protecting them from over-paying taxes. The new SECURE Act rules create a serious risk for many IRA’s becoming IOU’s to the IRS. Many people don’t realize it but there is a significant difference between tax accounting and strategic tax planning. We teach clients strategic tax planning so they can avoid costly tax exposure pitfalls and gaps in their overall financial plan. Based on one’s financial and lifestyle goals, strategic tax planning will help lessen one’s tax burden and free up money to save or spend. We help Baby Boomers and Retirees thrive in retirement by teaching them how to avoid costly tax mistakes, so they pay less and keep more. The Retirement and Your Taxes downloadable guide for 2020 will provide critical and timely clarity on the new rules for IRA’s that will drastically impact retirement income and inheritances. Future politicians are pushing for higher tax proposals while the funding for this is being targeted through higher taxes imposed on retirement income and future inheritances. The most exposed are those who have strongly saved in IRA’s. The Government has now made it clear in how and who will be paying as the projected 15.7 billion needed is to come from IRA inheritance taxes. With the recent passing of The SECURE Act those who are left with an inheritance will be severely impacted. Beneficiaries will have a 10-year window to draw down all the money on an inherited IRA and after a decade they are required to withdraw all of the funds and close the account. There are new required minimum distributions (RMD’s) age rules with this new law. These drastic changes are what is making retirement today so different from prior generations. Baby Boomers now will be the first generation that will need to self-fund and self-insure their own retirement and the government just made retirement security even more challenging. In my downloadable guide I have a section that summarizes the changes that come along with The SECURE Act, I also discuss the changes with the required minimum distribution (RMD’s) as well as income taxes on social security benefits.”
To download Oliver’s newest guide visit: https://thehiddenwealthsolution.com/taxes-saved/
Oliver and his team at The Hidden Wealth Solution have been guiding clients for over a quarter of a century to help them keep more of their hard-earned money. They address questions about pension planning, 401K’s, ROTH IRA’s, calculating a tax bracket, inheritance and taxation, capital gains tax, along with several others. Over the years Oliver has published several books and some articles can be found on his website: https://thehiddenwealthsolution.com/ to further guide Baby Boomers on how they can keep more and spend less in tax. Strategies like deferring the age for claiming social security to using your home as a source of equity to fund your retirement. Signing up for Medicare and being smart with tax withdrawals should also be taken into consideration.
Oliver added “Baby Boomers and Retirees don’t realize the savings in having a comprehensive lifetime income plan. Simple steps like Roth IRA conversions has never been more important. The new IRA rules make Social Security planning more important on when to file. Strategic Social Security planning can result in an extra $100,000 in retirement income. Another often overlooked are for many Baby Boomers is their largest single asset they are sitting on being the often overlooked asset of home equity. Downsizing your home can make a major improvement to retirement income. Selling while the value of homes are up and interest rates are down is a key timing strategy and also to get access to the maximum amount of tax-free home equity money. The American college has confirmed the importance of a reverse mortgage in retirement planning under certain cases. For more information or to expand your knowledge, visit Oliver’s articles on his website located at:
Oliver and his team of wealth architects are located in Lake Mary, Florida at 250 International Parkway, Suite 146, Lake Mary Florida, 32746. Their office is located roughly 19 miles east of Downtown Orlando and 44 miles southwest of Daytona Beach. Their clients are located throughout the U.S. and many of them have come to join the Hidden Wealth Solution after hearing Oliver present in his weekly webinar.
Those interested in learning more are encouraged to attend one of Oliver’s weekly wealth protection webinars where he discusses current events in Washington, new laws on the table and how retirement accounts may be affected. To register for this free event, Baby Boomers and those approaching retirement are encouraged to visit online at: https://retirementprotected.com/
Space is limited and the next series of webinars are scheduled for Tuesday January 28th, February 4th, 11th, 18th and 25th. Times available to attend are 11AM EST, 3PM EST, 7PM EST, 8PM EST and 10PM EST. Space is limited and fills up quickly.
Oliver stated, “I highly encourage people to learn how the new rules for retirement will impact them. Those interested in learning how they can thrive in retirement can register for my webinar where I will share additional insights into why it’s important to take a closer look at your retirement accounts and how a Baby Boomer can make simple changes to lessen the impact of current and future government tax laws.”
Fore more information or to speak with a financial advisor in Lake Mary, Florida at The Hidden Wealth Solution, Baby Boomers are encouraged to call 407-478-1599 or visit online at: https://thehiddenwealthsolution.com/.