During this special webinar with David McKnight, financial planner Mark Byelich and David discuss the prediction of rising tax rates in the near future and the crucial need for individuals to position themselves to be in the zero-percent tax bracket when they retire. The conversation delves into tax rates for high earners and speculates on the future trajectory of tax rates in the coming years. They explore the possibility of the 25% and 28% tax brackets continuing to exist or the potential implementation of a 32% tax bracket by 2026. David emphasizes that the inevitability of rising tax rates stems from the necessity of addressing the national debt at some point. As inflation rises, interest rates increase as a means to combat it. However, the problem lies in the fact that the cost of servicing the debt right now remains unchanged from a decade ago due to historically low interest rates. If interest rates were to rise to combat inflation, the cost of servicing the national debt would skyrocket to the extent that it would consume a significant portion of the federal budget. Consequently, raising taxes becomes imperative to resolve this predicament. Thus, for those planning to retire and seeking to avoid being burdened by the inevitably high future tax rates, a zero-tax planning strategy becomes essential.
Schedule a meeting with Mark at: https://go.oncehub.com/webinarfollowupconsult
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MJ Byelich & Associates, LLC dba Attleboro Wealth Management is a Registered Investment Adviser. This program is solely for informational purposes. Advisory services are only offered to clients or prospective clients where MJ Byelich & Associates, LLC dba Attleboro Wealth Management and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by MJ Byelich & Associates, LLC dba Attleboro Wealth Management unless a client service agreement is in place.