Should We Be Concerned About New Wealth Tax Proposals?

There’s a lot of talk in Congress about forcing wealthy Americans to pay more in taxes. The latest example of that is a bill that would impose a new tax on all stock trades.

But, could these things actually end up costing all of us more?

On this episode of the Retirement Solutions Show, we discuss whether we should be concerned about these new tax proposals.

The bottom line

A proposal is just a proposal. Worrying about it now could lead us to make fear-based decisions, which never ends well. If tax changes are made, we can adapt to them (if necessary) at that time.

Other topics discussed in this episode:

  • [7:18] How do we know if the amount we’ve saved for retirement will match the amount we need?
  • [13:15] The general age at which we can best benefit someone.
  • [19:15] Could a market crash be considered an opportunity?
  • [25:49] How to prepare for challenges that might force you to retire earlier than planned.
  • [34:16] How to start the estate planning conversation
  • [44:52] Advice for those inheriting retirement accounts

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