I hope this is the beginning of the end for Hillary. I have no idea how this will turn out on November 8th, if I could know that I’d be rich – and I’m not.
If she does win I’m already planning on moving my heritage 401Ks into my traditional IRA. I’ve read that the left is already having the legislation written at various prog think tanks to enable them to confiscate our retirement accounts and replace them with something under government control that would be tied only to T-bills and which we would not be able to leave to our heirs. Hopefully this would not apply to IRAs. Under Hillary they would also go after inheritances through taxation voiding inherited wealth. Further hope is that creating living trusts will be an effective means of protecting family assets. Anything the progressives see as low hanging fruit is at risk to fund their socialist, vote buying schemes.
I have heard the same thing and share your concern. I was thinking of moving a lot of our retirement account into gold.
I will not say I am stupid but I will say that I am uneducated in finances and think that any financial planner wants to sell you something he/she will make a profit from.
In 2000 we suffered a massive loss in our retirement account. I surely don’t wish that to happen again as we are at an age where we won’t be able to recover from it.
I wish I could ask Ted Kennedy how he sheltered his assets and paid literally nothing to the Feds upon his death…
One approach that is used is to create a charitable trust(s) and buy cash value insurance policies. So you create a trust that gives some large amount to charity of some form. It may pay you the rest of your life as well. Your deductions greatly help you pay for or entirely pay for the life insurance. This enables you to pass on the value of your estate to your heirs without tax. It has been about 16 years since I dealt with the subject. The trust have names like Charitiable Remainder Annuity Trust (CRAT) and CLUT.
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