Chuck Oliver and His Financial Advisors at The Hidden Wealth Solution Discuss the Psychology of the American Worker Preparing for Retirement

LAKE MARY, Fla., Aug. 22, 2019 /PRNewswire-PRWeb/ -- Chuck Oliver, President and CEO of the Lake Mary, Florida based The Hidden Wealth Solution recently launched their online discussion about the 2019 Retirement Confidence Survey (RCS) that was conducted by the Employee Benefit Research Institute (ERBI).

Oliver stated, "In this study 2,000 Americans were surveyed. Half of those surveyed were working and the other half were retired. The goal of this survey was to understand the psychology of people when it comes to retirement savings and their readiness to retire. It was interesting to note some key findings that only 4 in 10 workers have tried to calculate how much money they will need to live on comfortably in retirement, only 1 in 4 retirees consider their debt to be a problem and nearly 9 out of 10 retirees rely on Social Security as a source of income in retirement. These results are pretty astounding, particularly those who don't consider debt to be a problem. Experts say, "debt is the silent killer" and it's crucial to eliminate any debt as soon as possible. According to Northwestern Mutual's 2018 Planning and Progress Study, "The average American now has about $38,000 in debt (excluding taxes), excluding home mortgages. As a top-rated financial planning firm in Central Florida, there are 6 main debts we always advise clients to tackle as soon as possible. These debts include mortgage, credit card, student loans, auto loans, medical and taxes. With these month after month outstanding debts it can make saving for retirement next to impossible for many people. As we guide clients on how to save for retirement we take a look at tax brackets, one's federal tax return from a prior year, tax deductions, any capital gains tax one may be required to pay as well as looking at our Saving Tax Optimization Plan analysis."

In their assessment of the 2019 Retirement Confidence Survey, Oliver and his staff concluded that only 23% of workers are confident they will have enough money for retirement. They also recommend that with so many people heavily relying on Social Security as a source of income, that it is essential for people to claim their benefits at the most optimal time. Oliver added "Education is key for having the best retirement plan. Those considering retirement and those already enjoying their retirement years should be educating themselves on how to maximize their savings and investments as opposed to losing much of their hard-earned savings to taxes. If possible, we recommend people delay drawing Social Security and waiting until at least their 65th birthday to optimize their benefits. If they can wait until age 70 to start drawing from Social Security this would be the best-case scenario in many cases, however, for some this type of delay may not be an option."

To read more about Oliver's online discussion about the key findings of the 2019 Retirement Confidence Survey, visit online at:

https://thehiddenwealthsolution.com/findings-retirement-survey

Chuck Oliver and his team of financial advisors at The Hidden Wealth Solution work with clients all over the United States to help them with retirement planning, tax planning and how to maximize their savings. Oliver stated "We teach clients how to keep more of their money while paying their taxes, but invest in areas that will reduce taxes such as in Special Designed Insurance Contracts, Roth IRA, Health Savings Account (HSA) and others. People don't realize these tools are available for tax savings purposes. It's time for people to get knowledgeable on these tools that are readily available and start making their money work for them and avoid future tax rate risk. There has not been a better time in thirty years to strategically tax plan and to pay the least amount of taxes today to avoid higher tax tomorrow."

The Hidden Wealth Solution is located at 250 International Parkway, Suite 146, Lake Mary, Florida 32746. Oliver and his staff of wealth advisors are available Monday through Friday from 9:00AM EST to 6:00PM EST to meet with clients.

Oliver hosts a free weekly webinar every Tuesday for retirees and those approaching retirement to learn more about retirement savings, tax savings and how to maximize their investments. Those interested in attending his next webinar scheduled for Tuesday August 27, 2019 should register online at:

https://retirementprotected.com/

Oliver offers this complimentary educational webinars at different times on August 27th, starting at 11:00AM EST, 3:00PM EST, 7:00PM EST, 8:00PM EST and 10:00PM EST. In addition to his weekly webinar, Oliver also posts a weekly blog on his website located at:

https://thehiddenwealthsolution.com/category/hidden-wealth-reviews/

On his blog Baby Boomers and retirees will read more about eliminating their tax risk, retirement tax rates and how to increase their retirement income, leave a larger legacy and more.

For further information on how Chuck Oliver and his team of wealth advisors at the Hidden Wealth Solution can help consumers plan for retirement and manage their retirement investments, consumers are encouraged to call 407-478-1599 or toll free at 1-800-825-1766 or visit online at: https://thehiddenwealthsolution.com/

SOURCE The Hidden Wealth Solution