If you're an Arkansas or Tennessee resident, over the age of 55, and have $250,000 or more in a 401(k), IRA, or 403(b) account, you could be on the path to paying significantly more in tax than you should be!
In Smart, Simple, Wealth: How To Get It, Keep It, And Pass It On, Estate and Wealth Planning Attorney Carrie Russom Quraishi, JD, explains the best legal, financial, and tax strategies to protect your retirement and legacy.
Not only are your retirement accounts subjected to income tax, but withdrawals from these accounts can also force you to pay tax on your Social Security benefits. They can also cause you to pay more for Medicare.
While things like market volatility, inflation, and low-interest rates are factors, nothing quite threatens your retirement like TAXES. Assuming you don't define patriotism by the amount you pay in taxes, there are proven wealth protection strategies that can dramatically defend the safety of your retirement savings.
These cutting-edge tax reduction strategies—including Roth IRA conversions, Trusts, life insurance, and many others are purposely under-publicized.
What You'll Discover
- How you can maximize your retirement income while minimizing taxes—regardless of what’s happening in the stock market;
- How you can protect your retirement income, assets, and loved ones against the devastating costs of long term care and nursing homes;
- How you can avoid getting caught up in investment bubbles and other crazes that can destroy your wealth;
- How you can protect your estate from going through a long and incredibly expensive, wasteful, and frustrating probate process;
- How to ensure that the financial legacy you pass to your loved ones is protected against the IRS, creditors, scammers, lawsuits, future ex-spouses, and their own bad decisions;
- How to protect your fortune from going to your children’s future exes;
- How to protect your special needs children and ensure they get the benefit of their inheritance, rather than it getting seized by the state to pay Medicaid expenses;
- How to minimize taxes and other fees going to the government and to Wall Street, instead of to your family;
- How you can avoid accidentally disinheriting a loved one;
- ...and perhaps most importantly, how you can pass on not just your financial and material assets, but pass on your intangible, non-financial legacy as well—your family values, ethics, morals, traditions, and wisdom your family will need to help ensure that the fruits of your life’s work are not squandered by future generations.