Baby Boomers, Einstein, IRA discussed on Retire Y'all Radio

Automatic TRANSCRIPT

And that might cost you seven eight nine hundred dollars per month fifteen hundred dollars a month for husband and wife you need to factor that into the whole plan now here's one thing that came out of the affordable care act plan many baby boomers are like us is cool in my opinion i think it's bad but you can take advantage of it if there's anything that government is good at its writing legislation that's smart people can take it vantage of right right and in my opinion you take advantage of the law the way it's written and you get paying a nickel more in taxes this foolish the pursuit of tax avoidance is probably one of the most intelligent i forget who said this quoting was einstein or something the pursuit of taxes voidance is the most intelligent thing a human being could could pursue so what's happening is when you are retired at the age of sixty and let's say you have a tremendous amount of money and what's called non qualified money meeting money that's outside of an ira and all you were living on is that non qualified money while the governor it looks set you even if you have a million dollars a non qualified money in two million dollars in iras the government looks at you like your impoverished so your health insurance will be fully subsidised because you don't have any quote unquote earned income in all the government has the ability to look at is what you're earn income is and if you're living off of your dividends and interest or your living off of.

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