LAKE MARY, Fla., Jan. 28, 2020 /PRNewswire-PRWeb/ -- 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:
https://thehiddenwealthsolution.com/articles/
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/.
SOURCE The Hidden Wealth Solution