MILWAUKEE, Sept. 2, 2016 /PRNewswire/ -- Every day for the next 20 years, 10,000 Americans will be turning 65 – roughly 73 Million people1. The challenges and obstacles to retire and remain retired could never be more relevant. Retired business owners, executives, and professionals are invited to a free, special briefing focusing on the reduction of income and estate taxes on their IRA and 401(k)'s.
"Retired business owners, executives, and professionals face significant challenges and obstacles to enjoying the rewards for a lifetime of labor and sacrifice," said Don Mathias, CFP®.
With the top 10% of income earners paying over 70% of all Federal income taxes, the triumphs of success come with new mandates for preservation and protection of those accumulated assets.
Today, Americans who retire at 65 increasingly live to age 100. Imagine being 78 years old, in great health, full of life and running out of money. AARP reported that 2 out of 3 older Americans fear running out of money more than dying. "The fear of running out of money is not unfounded," said Mathias.
This new seminar educates and equips retirees against the little-known mistakes and costly missteps that can derail their plans in retirement. The fast-paced, 77-minute presentation explores the keys to a meaningful retirement. It also covers 6 major retiree pitfalls and concerns: Living too long, running out of money, increasing taxes, rising health care costs, not passing on family values, and the dangers of wealth for the next generation; along with the unknown dangers and pitfalls that stand in every retiree's path.
Mathias continues, "Most retirees want to more fully enjoy retirement, yet they are uninformed about the many dangers and obstacles they face. For example, running a foul with the IRS retirement account rules can cost a bundle."
In an article titled, "IRA Rules Get Trickier" the Wall Street Journal reported that, "Uncle Sam is about to get a lot tougher on individual retirement account mistakes – and that could trip up investors who aren't careful."2 The IRS levied over half a billion dollars in fines in just a two-year period for missed withdrawals and contributions that break the rules.
The seminar uses traditional examples to show attendees how to utilize income tax deductions, manage double taxation on retirement accounts, mitigate capital gains taxes on stocks, bonds, and real estate, and reduce and potentially eliminate income taxes on your IRA or 401(k).
"There will be nothing to buy at this briefing," said Mathias. "Our goal is for everyone to leave fully understanding that they have more options than they knew were available."
About Don Mathias:
Don Mathias, CFP®, is a financial educator, wealth strategist, and retirement planner. Mathias shares his financial wisdom and insight at Economic Forums presented by Alliance Wealth Management Milwaukee, and through their series of Public Education Seminars. In addition to sharing his expertise, he is a lifetime learner, and a CERTIFIED FINANCIAL PLANNER ™ professional.
Don and his wife Larisa, enjoy hiking, gardening, and managing their hundreds of thousands of honey bees especially during harvesting season.
Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person's situation. While we are familiar with the tax provisions of the issues presented herein, as financial advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professionals. Alliance Wealth Management Milwaukee, is located at 135 S. 84th St., Suite 135, Milwaukee, WI 53214. Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPIC. Raymond James Financial Services is independent of Alliance Wealth Management. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER ™ in the U.S.
1 US News & World Report, March 23, 2012.
2 Wall Street Journal "IRA Rules Get Trickier" June 22, 2012.
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SOURCE Don Mathias, CFP