Hey ,
According to a report released by the Government Accountability Office, a nonpartisan organization, high-income households in the U.S. have seen their median retirement account balance almost
double between 2007 and 2019.
Meanwhile, the retirement savings of
middle-class households have remained stagnant, and many do not have any savings at all.
These findings have been blamed on the “rigged” tax code. Sen. Bernie Sanders angrily said, “It is unacceptable that taxpayers are forced to spend billions of dollars subsidizing the retirement accounts of the wealthiest people in America.”
Is this true? Are the poor subsidizing the retirement accounts of the rich? I partially agree with this. However, let me also be quick to say that in as much as the operating environment is not fair, we need to double down on our tax and retirement planning
efforts.
I believe that nothing beats a
good plan. And it begins now. Therefore, to start benefiting the same way the 1% does on tax incentives, let’s double down our tax planning efforts.
If you have stopped consulting with me on your taxes, I encourage you to get started now.
If you are my tax filing client and we only talk during tax season, I also encourage you to start consulting me regularly to plan your taxes. That is the only way to ensure that you retire wealthy and in peace.
Call my office now at 202-618-1297 so we can schedule a meeting, or click the link below.
