To demonstrate the enormity of the Federal deficits consider the following:
If we were attempting to repay $1 Million, we could do that by paying $1 every second for the next 12 days.
If we were attempting to repay $1 Billion, we could do that by paying $1 every second for the next 31 years.
If we were attempting to repay $1 Trillion, we could do that by paying $1 every second for the next 31,000 years.
Now, Multiply that dollar figure times $10.70 or $10.70 every second. Get the picture?
And you are funding a tax deferred retirement account at the recommendation of your financial advisor? See if your advisor will sign an agreement with you to pay the difference in your tax bill if rates go up in the future. To date, all of our NEW clients’ former advisors refused to sign an agreement. Why in the world do people put money in retirement plans to be taxed at a higher rate later? Because most financial advisors want your money - they are paid for assets under management - not what’s best in the long term for you and your retirement. Your retirement plan is their retirement plan.
|
