Go to College and get 'Solutions' to investment issues
After two years in business, The Solution People are still going strong.
Here is what "Tony and Angela" had to say about their exciting adventures in higher education:
Most American taxpayers know that the US national debt has breached the $20 trillion mark and is rising rapidly. In 1929 the national debt was $17 billion and accounted for only 16% of the Gross Domestic Product or GDP. This means that for every dollar that came into the US Treasury, only 16 cents was paid in debt obligations. It was 58 years later in 1982 when the debt crossed over $1 trillion and accounted for 34% of GDP. According to usdebtclock.org, the debt is currently just over $22.5 trillion and accounts for 106% of GDP. This means that for every dollar that came into the US Treasury, approximately $1.06 is paid in debt obligations. The debt is capitalized which means the interest is added to the debt itself so it will continue to increase rapidly, especially as interest rates rise.
The national debt and the interest associated with it are only two of the main expenses of the US budget. Medicare, Medicaid and Social Security costs are high and expected to rise as well. David Walker, former Comptroller General for the US under Presidents Clinton and Bush and board member for the Committee for a Responsible Federal Budget testified before Congress in 2008. His testimony illustrated the need to make significant budgetary changes that involve cutting expenses, raising taxes or a combination of the two by 2025.
He was able to show that, if these changes were not implemented the US would not be able to continue to pay its obligations. Preliminary data suggests that The US Tax Cuts and Jobs Act of 2017 has helped to increase tax revenue into the Treasury, which should help ease the fiscal situation, but it may not be enough to prevent some of the need for tax increases in the future. Since we’re not always in a lower tax bracket in retirement, proper positioning is key. Social Security Income taxation can also become an issue in retirement and should be minimized as much as possible.
We are The Solution People, an independent financial advisory firm that focuses on minimizing taxation and optimizing Social Security Income in retirement. The retirement roadmaps we create for our clients are designed to maximize cash flow by producing as many tax-preferred income streams as possible. Doing so insulates their hard-earned wealth from the effect of potential rising taxes. This is important because current tax rates are historically low. We are often asked whether it is better to contribute to a Traditional IRA/401k or a Roth IRA/401k. There are different schools of thought on this question.
Ultimately, it depends on what a person believes taxes are likely to do and the ideal amount of funds to accumulate in each type of retirement account; taxable, tax-deferred and tax-preferred. It is critical to know the ideal balances so we can move our clients toward maximum cash flow in retirement.
We have been teaching a course called The Changing World of Retirement Planning through the Continuing Education Department at the Wenatchee Valley College. Our goal is to educate the community. The course is open to anyone who wants to learn how to insulate themselves against the potential of rising taxes in the future. In this class we go into detail on how to attain the ideal balances in these accounts to minimize taxation in retirement in case taxes are increased after retirement.
Our next class is this Fall quarter so check the catalog for dates and times. We are The Solution People and our passion is helping our clients preserve and grow their wealth so they can spend their retirement with peace of mind.
Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Global Prosperity LLC are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents.
Contact WVC or Tony Velickoff: firstname.lastname@example.org.
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