Have you heard this term yet? ….. “SOCIAL INSURANCE PROGRAMS” ….. Those who use this term are referring to Social Security, Medicare or perhaps Medicaid.
Today, I want to focus on Social Security.
Maximizing Social Security benefits through appropriate claiming strategies is an important step in improving your retirement success....More Information
Another, complicated step is to minimize your taxes ….by locating assets in the proper type of accounts and tapping those assets in the optimum order.
The combination of higher Social Security benefits and lower marginal tax rates results in more spendable retirement income in the long run and can extend the life of your portfolio, reducing the chance of running out of money.
With that said …… I ask you these questions:
1) Do you think taxes will be higher in the future? (Yes or No) ……..
2) If Yes ….. Do you want to pay them? (Yes or No) ……..
3) If No ….. What are you doing any different this year than you’ve done in the past to help accomplish this?
And Finally ……..
If you were a farmer: Would you rather pay taxes on your seed, you are about to plant: …..OR ….. Would you rather pay taxes on the crop you will reap in the future?
Next Phase Financial - What is your Next Phase?