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The Tax Bomb in Your Retirement Accounts
- How the Roth IRA Helps You Avoid It (Scandlen Sustainable Wealth Series, Book 2)
- Narrated by: Amy Barron Smolinski
- Length: 1 hr and 33 mins
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The Tax Bomb in Your Retirement Accounts
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Summary
John and Judy are in the 12-percent tax bracket. But when they took $10,000 from their IRA, they had a 50 percent tax increase. Why?
When John died, Judy’s income went down by 33 percent, but her taxes went up! Why?
Isn’t interest on municipal bonds tax free? Then why did it cause John and Judy’s taxes to increase?
When Judy took out $20,000 to take her daughter on a cruise, it cost her $9,908 in taxes. Yet when Jane did the same, it cost her nothing. And they both have $80,000 in total income. Why?
When Bob took out $10,000 from his IRA, his taxes tripled. Why?
Why did Bob’s Medicare premiums nearly double when he took out an extra $10,000 from his IRA?
When Jenny, a divorced gas station attendant making $35,000 a year, inherited an IRA from her mom, she lost 25 percent in federal taxes. Why?
In this audiobook, we’re not only going to answer these questions, but we’re also going to show you what you should be doing now to avoid the stealth tax increases retirees face but are ignorant of...until it's too late.