Government, Greg, Roth Roth discussed on Coach Pete Financial Safari


So yes, they're talking about increasing that age because we are living longer. They're looking at actuarial tables and as a country we are living longer. But greg. Doesn't make much sense to me. What about you know? No. I don't get it. I I don't know why they're doing that. I don't know why they did it to begin. We do the reason why they don't wanna wait for you to die to tax your counts. So that's what it comes down to as again, we talked about this earlier. They look at your IRA accounts. Elicits Roth Roth. You don't have to worry about. The tax on it. But they look at your accounts, your IRA accounts, your 4._0._1._K K is their money because they've given you the benefit of not being tax right away. Now, all that money has grown and then the growth has grown triple compound. Now, you're going to pay triple taxes on that money. Would you take it out? Crazy. Oh, yes. They're talking about again congress talking. And we know what happens when they talk nothing really happens. But if they do that's good thing you'll be able to put it off until eight seventy two instead of seventy and a half increase the amount that you have to take out also because based on life expectancy. I know what they're gonna do. Greg. Really don't care because that doesn't make much sense. We try to encourage Roth conversion strategies for folks. So you don't have to worry about the government's rules anymore. You pay the taxes based on the rules today. He never worried about what they're gonna do tomorrow because your money is growing tax free. And you don't have to take it out t want to take it out absolutely free to well. Yeah. And so what somebody ask you this, and we gotta get to brokers behaving badly. But so what if you don't need that money? So you still have to take an arm D? But you don't need the money in a good saver all my life. I turned to tables on the government many times because I have a lot of folks that call Saint coach we gotta take this money out. I don't need it. Yeah. Done such a good job of building. Here's what we'll do. Let's turn that you don't like the government. You know, taxing, you know, let's take that money out, but spy life insurance policy that will give your beneficiaries four five six times, which are putting in tex- free in the future. And turn the tables on the tonight your taking a towel asset where they make you pay tax to tax for. Yes, that's going to be a beneficial thing. Your family your Turkey, a lot of people leave a big a big benefit, church course. So again, if the church knows about that, you're gonna get the best. Oh. Every time. It just makes sense. Why not if you don't need money why not turn the dollar? You have to take out and taxable. You take it out a tax on seventy cents take that seventy cents by life insurance policy. They don't give you five dollars you'd be benefit of five dollars to your next of kin Tech's for. Makes a lot of sets because if I had a nickel, and I'd be a millionaire nickle every time someone says, I don't need the money. But the government's making me take it out. Let's take it out and put it to good use then. Yeah. Right or go on a sec second vacation instead of one or whatever you wanna do. Right. But if you really want to multiply those dollars multiplied them tax free than life insurance. No better way than life insurance argue with it in don't forget the life insurance policies can be long term care as well begin. Now, you create a long term care policy to do the right thing. Because like we said earlier the death benefit could come out tax free ahead of time. What your wife to help you pay for your long term care? Those folks if that's something that's of interest to you. And it probably is with everyone. Give us a call and come on in and talk to coach Pete and the team, Greg. I mean, everybody's here. Eight sixty three eight hundred fifty eight that's the number to call or text plan to twenty one thousand. Yeah. It makes a lot of sense. And it's about you know, instead of throwing your arms and saying I don't know what to do. I hate the government or whatever. Eight taxes put the money. Turn the tables put the money, I call it until two financial the tilted against us right now. Let's tilted in our favor. Your eyes got on. Today. But I love the garment like I don't like paying taxes, but I love I mean, we have a great country in the world. But but there's a lot of things that could be changed for the better. I think in when we look at when we're looking at just simple savings and trying to coach people to save make it a lot easier for people to save make it a lot more beneficial in that a lot more people say because Steve if people don't say for their own retirement, and they reached retirement and say for their own healthcare who's gonna pay for it. We are. So the government will when we say the government's going to pay for it who is the government you yet. No government without us in our money, passive. Okay. So when people say, yeah, I'm I'm I'm getting it. I'm getting over on the government getting over on me on a tax payer. Oh, yeah. And so if you pay taxes, you should be in favor of anything. That's that's passed to lower taxes on your savings. Sure. So coach how about a brokers behaving badly. I think you've heard this story. So this is a good one. Hang on, folks. Here we go. The financial safari news network. Episode involves a nearly twenty million dollar Ponzi scheme involved, mostly seniors and Jesus as part of his name William Gallagher. He calls Dallas, Texas home..

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