I am discussing what to do right now to take advantage of what could be the greatest stock market opportunity in a lifetime. I am offering a free master retirement plan to anyone in the world because right now I believe is a singular, unique point in the stock market’s history where unbelievable world-class companies are deeply discounted. Call me at 770-622-9145 to receive a free master retirement plan that will be completely customized for your needs. I believe history is going to show that this was the greatest opportunity ever in the stock market.
Part 2 of 3 Chances are that you will live a lot longer than you think. But how will you pay for it?
It is a fact that we are living longer than ever before. And there is a very good chance that you will live a lot longer than you think. That may seem like good news on the surface, but it also comes with significant financial challenges. Learn how to ensure your money will last as long as you do. In this segment I will discuss how Social Security can be one of your best defenses against longevity. We will discuss strategies that the Social Security administration will never tell you. We will also discuss the need for a diversified income plan. We will discuss the particular aspects on building a diversified income plan. We will show you how to turn your current savings and investments into an income workhorse with our income analysis which is free. There is no cost and no sales pitch and no products to sell. This is your chance to learn about the different opportunities and options that can help you generate income in retirement while minimizing risk. To get this free analysis, be one of the first 15 callers to listen to this podcast and call us at 770-622-9145. If you are the kind of person who needs to make the most out of every dollar you save for retirement listen to this podcast and then call us at 770-622-9145. The last place you want to be is 85 years old, full of life and flat broke. Learn how to ensure your money last as long as you do!
27 Apr 2020
Part 1 of 3 - The Financial Challenges of Living Longer & How to Ensure Your Money Lasts.
It’s a fact, we are living longer than ever before. And there is a very good chance that you will live a lot longer than you think. That may seem like good news on the surface but it also comes with very significant financial challenges. In this three-part series you will learn how to ensure that your money lasts as long as you do. There will be three different segments to this series. Part one will set the stage which is going to define the overall significant impact of living longer. Part two will cover Social Security and will discuss how it’s one of the best defenses against longevity and strategies that the Social Security administration will never tell you. Also in part two I will be discussing the need for diversified income sources and what those sources may look like. The final part will discuss the skyrocketing cost of healthcare and long-term care as well as the fact that inflation can rob your retirement savings and the critical choices you have as it relates to these items.
22 Apr 2020
Not Having a Strategy to Withdraw Money From Your IRA or 401K is a Huge Tax Trap Waiting to Happen!
Contributing to your 401(k) is easy. But when you withdraw this money, that’s when things get complicated. And if you don’t have a plan, it can cost you thousands of dollars in taxes, fees, and penalties. The key is to plan well in advance of ever needing this money. If you hate paying taxes now, just wait until you start withdrawing money from your retirement plans. When you turn 70 1/2, required minimum distributions kick in, and you can be forced to sell your investments and withdraw money from your retirement accounts whether you want to or not. And you’ll never get this money back again. This leads us to sequence of returns risk, the risk of retiring in a bear market. You will have to withdraw because of required minimum distribution‘s or simply to have money to live on. But if the market is down you could be in big trouble. Withdrawing money when your accounts are in the red can and this will have grave consequences. The returns during your first 5 to 10 years of retirement are critical to your success. Retiring in a bear market could destroy your savings and investments and those who just happened to get lucky and retire in a bull market fair significantly better than those that don’t. Even if short term volatility averages out into strong long-term returns, retirees could still be in hot water if the sequence of those returns are bad at the very beginning of retirement. It is also important that you develop tax diversification. You do not want to have too many assets that are taxed the same way or at the same time. This accentuates the significance for having proper tax diversification. In my experience, it’s one of the most underrated financial planning concepts. We must build into your withdrawal strategy tax diversification such that you have three baskets of money. The three baskets of money are the taxed always basket, the taxed later basket, and the taxed rarely, if ever, basket, Also One of the best ways to take control of your taxes in retirement is by figuring out the right timing and the right amount of money to convert into a Roth IRA because that will allow you to withdraw money and pay zero taxes when you do. It’s a financial game changer for you and your family. Another benefit of a Roth is that there are no early withdrawal penalties to worry about. If you withdraw from a Roth account before 59 1/2, you only pay taxes on your earnings. We build this into your dynamic withdrawal strategy. I can only build for free a dynamic withdrawal strategy for my first 25 listeners of this podcast. To receive it and schedule a meeting so that we can customize this for you, and the meeting can be virtual, call me at 770-622-9145. You can also email me, woody@cpa4wealth.com.
20 Apr 2020
Hardship due to Coronavirus outbreak? These tax breaks are for you and they are being overlooked.
In response to the Coronavirus outbreak, the “CARES” act was made into law to help stabilize the economy. Much of the CARES act is dedicated to providing stimulus to small businesses, however being often overlooked is the tax break provisions for individuals. In summary, this podcast will discuss the following tax breaks you should consider taking advantage of: 1. Suspension of RMDs for 2020, 2. Extension of deadline to July 15, 2020 for filing taxes and making IRA or Roth IRA contributions, 3. Removing the 10% early withdrawal penalty on distributions up to $100,000 during 2020, 4. Ability to repay early withdrawals within a 3 year period, 5. Income tax on virus related withdrawals can be spread over a three year period, 6. In-service distributions from retirement plans are permitted for ALL participants, 7. Increased retirement plan loan limits from $50,000 or 50% of the vested balance to $100,000 or 100% of the vested balance through the end of 2020, 8. For existing loans, qualified individuals can delay repayment of the loan. Congress defines “directly affected” as an individual, and individual’s spouse or a defendant who has been diagnosed with COVID-19, or experienced adverse financial consequences as a result of being quarantined, furloughed, laid off or having work hours reduced due to COVID-19. Also eligible are individuals who were unable to work due to lack of childcare as a result of COVID-19. An individual whose business was closed or had reduced operating hours as a result of COVID-19 is also eligible. Please contact is regarding your options at 770-622-9145 or email us at woody@cpa4wealth.com. We will build your a customized retirement plan and see which of these individual tax breaks would make sense for you.
14 Apr 2020
Learn 7 steps to achieve financial independence (especially at or near retirement).
Imagine for a minute that you were financially independent. Imagine you were finally in a place where you had enough money saved and enough money coming in so that you didn’t have to work another day in your life. But becoming financially independent doesn’t happen by accident. It only happens when you tackle 7 critical steps! In this episode I share these 7 steps to become financially independent including: 1. A contrarian strategy that could help you get more from your social security benefits; 2. How you could dramatically reduce your taxes, and keep more money in your pocket, and 3. The key to replacing your paycheck after you call it quits. Becoming financially independent on retirement doesn’t happen by accident. We will build a free customized retirement plan for you that addresses all of these 7 critical steps to achieving financial independence in retirement. Call us at 770-622-9145 to schedule your meeting (the meeting can be virtual) which will last about 1.5 hours and we will build this plan for you for free. 770-622-9145
Woody - CPA Wealth Advisors - World Wide Economy Shutdown - Portfolio-What You Should Do Right Now
This is a once-in-a-lifetime opportunity. I firmly believe that we are going to look back at this time and wish we had invested money into the equity markets. It’s an opportunity to re-balance your portfolio, to build a true dynamic withdrawl strategy, to build a true tax efficient investment strategy, and an opportunity to have a solid free master retirement plan. Some of the greatest companies ever to be on earth have pulled back as much as 30%, 40%, and even 50%. I believe whenever they announce that a vaccine is available, the markets are going to reach a new high and we all are going to wish we took advantage of this huge pull back. Call us (and it doesn’t matter where you are in the world), and for free we will build you a customized master retirement plan and absolutely reposition you to take advantage of what could be the biggest opportunity in the stock market history. 770-622-9145
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