Higher Taxes and Reduced Benefits are Your Future

by TheProAdvisor on October 19, 2010

I want you to honestly ask yourself two questions:

  • First, are taxes likely to be higher or lower in the future?
  • Second, are government benefits likely to be larger or smaller in the future?

I think most Americans would agree that based on the current economic situation and government spending, that taxes must rise in the future.  This is due in large part unfunded obligations (think money that government doesn’t have but has already spent) needed to pay for a myriad of social programs that the government of the United States has committed to – namely, Social Security, Medicare & Medicaid, and Health Care Reform (Obama Care) to name just a few.

What isn’t as clear to many is the likelihood that these programs will also need to reduce benefits paid out in the future as well.  This means that these programs will provide ever shrinking benefits for today’s working generations.

Don’t believe me?  As it stands today, the unfunded obligations these programs represent are staggering – more than $110 Trillion (that’s 12 zeros) and climbing (Source: www.USDebtClock.org).

That is $40 Trillion more than the combined total of the Assets of the United States – that includes the personal assets and income of the US citizenry and all US businesses, as well as the governments tax generated coffers.

Frankly, the politicians in Washington, DC can’t afford, and the sheer size of the problem won’t allow, a tax-only solution.  The only remaining uncertainty is when they will implement these required changes and how drastic the changes will be.  No matter what the final answer is – it will affect you and your family.

With that, the question becomes – What are you doing to protect your income today and your benefits tomorrow?

These may seem like contradictory problems – and under the government’s plan they are.  The government can’t provide you with a single solution that protects you from rising taxes today and still guarantees you an income benefit in the future.  Even worse, the government’s projects of future benefits are completely factious and definitely NOT guaranteed to be there when you and your family need them most.

So what’s the answer to this problem?  Actually it’s pretty simple – there is one group of professionals that can solve your problem and it’s not the government, your local politician, or even your employer.

The answer is your local “Financial Professional.”  I bet you didn’t know that a “Financial Professional” can offer you multiple options today that can provide you and your family with income protection, tax advantaged growth, and a lifetime of guaranteed future benefits.

From ROTH accounts to annuities with guaranteed income options to cash value life insurance, there are solutions that can and will work for you and your particular situation.  No matter which of these options it is, you owe it to yourself and your family to get the facts – don’t wait, schedule an appointment with your local “Financial Professional” today and get you financial future headed in the right direction…before it’s too late.

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