April 13, 2019

How You Can Pay Less In Taxes

SMR 25 | Pay Less In Taxes

 

Paying tax is a mandatory obligation imposed by the government for public purposes. In reality, as citizens of society, we are overtaxed without knowing where the government wastefully spent that money. Still, many politicians would like to impose a tax increase for the people. Tim expresses his thoughts stating that raising taxes won’t actually fix anything. He reveals that there’s a way to potentially drop down a tax bracket or two on a current investment – gas and oil. Learn and be informed as he shares what we can do to pay less in taxes.

Listen to the podcast here:

How You Can Pay Less In Taxes

There are lots of events going on in our economy, in our nation nationally and locally. I have attended a Governor’s Prayer Breakfast with some friends. I didn’t know it was a thing. I haven’t heard about it before but I think it’s been going around for years. It’s not a democratic or republican deal at all. There are lots of people there, business owners and politicians. It was nice. It was nice. There were some coffee and some food. The governor spoke for fifteen minutes. How does that affect what we’re doing here? Unfortunately, I think we’re getting ready to see a nasty governor’s race going on. I’m not looking forward to the commercials and all that.

When you turn on the TV or you read, there are lots of things going on in global politics. I get so mad at some of these career bureaucrats, some of these career politicians who would probably starve if they had to get a real job and not be on the government paycheck by being a politician. They have to have some skills to get elected, for people to vote for them unless they just live in a dumb state like New York. Where they habitually and continuously elect idiots. That’s my problems with politicians is most of them love to make rules and tell us how we should live, yet they don’t live by the same rules.

If you’re going to make a rule for somebody or give advice to someone, then you better be following that advice too, in my opinion. That’s why I get on here and hammer out about three strategies that I’m convicted by, convicted in what I do. I show people exactly what I’m doing with my own money. I’m not here talking about annuities, mutual funds or REITs because I don’t have money in those. All those necessarily aren’t all bad, but I’m only going to talk about things that I have my own personal money and that I firmly believe in. Let’s talk about the word if. If you knew what to do with your cashflow and assets so that you could invest in yourself and your family, would you want to learn how? If you knew you could have a massive impact on you and your family by making a few financial changes, would you?

If you're going to make a rule for somebody or give advice to someone, then you better be following that advice, too. Click To Tweet

If there was a way that you knew you could avoid paying double taxation on Social Security, would you want to know how? If any of those things make sense to you, call me. I’m in the beginning stages of writing a book and it’s all about the tax code. It’s all about the current tax code. I was talking about Social Security and I want to read another article that I talked about, the follow up with the article that I read. I think Uncle Sam, sometimes it is bad. He behaves badly, he’s greedy. This article is titled Four Ways that Uncle Sam will respond to its $75 trillion Insolvency. I told you that the US government reported a negative net worth of minus $75 trillion. I told you where that you could go download that report and look it up to make sure that it’s real.

Bad Uncle Sam

According to the Treasury Department’s Annual Financial Report for Fiscal Year of 2018, the US government is hopelessly bankrupt. I’m not talking about this, trying to stoke fear and panic. It’s quite the opposite. I’m hoping that this conversation results in calm optimism. The point is that it’s an important conversation to have because a number as large as $75 trillion absolutely has consequences. To believe that any nation can be so desperately insolvent without suffering any negative impact was just plain foolish, debts have to be paid, obligations have to be met. At some point with numbers these gruesome, something has to break down. This is not a dire prediction or wild conspiracy theory. It’s an arithmetic certainty.

Remember, this isn’t even my analysis. The government itself acknowledges its $75 trillion insolvencies. The Social Security Administration acknowledges that its trust funds will run out of money in fifteen years. That’s on their website. This is happening. Let’s take a look at the government’s very narrow playbook. Number one, ignore the problem. Politicians are already acting as if nothing is wrong. Sure, occasionally you’ll hear someone complain about the debt or there will be a debt ceiling shutdown, but no series alarm bells are ringing, and because they don’t make a big deal over the debt, no one else does either. Everyone just goes along as if there’s not a problem. Number two, they raise taxes. This is highly likely. It’s my core belief and what I talk about all the time, taxes. If you don’t think we pay enough in taxes, if you believe that as a citizen, you don’t pay enough in taxes, don’t call me. We’re not going to get along.

SMR 25 | Pay Less In Taxes

Pay Less In Taxes: Most politicians love to make rules and tell us how we should live, but yet they don’t live by the same rules.

 

I encourage you to write a check for more of your taxes, for more money to go to the US Treasury Department. They’re probably not going to turn down your gift. We are so overtaxed as citizens in this country, it’s absolutely ridiculous. I will never vote for a tax increase. We have plenty of money. We wastefully spend it and it’s ridiculous. Even if they had a plan for a new bridge, which we so need here in Baton Rouge, crossing the Mississippi River, probably somewhere around Addis or Plaquemine, I wouldn’t vote for a tax increase on that. Do you know what happened the last one? They built it in Saint Francisville that eight cars go on per day. These politicians are just stupid because they’re not spending their own money. I do think taxes are going to be higher in the future. Is the government going to raise taxes?

This is highly likely because it’s the most politically palatable option. The Bolsheviks are already coming to power under a mandate to soak the rich. They want wealth taxes, dramatically higher income taxes, corporate taxes, surtaxes, etc. The problem is, it won’t help. Since the end of World War II, tax rates in the United States have been all over the board. Back in the 1960s, the wealthiest pay the highest marginal rate of 90%, now the highest is 37%. I’ve been saying for years, taxes are on sale. During that period, corporate, individual and capital gain rates have bounced around like a drunken pinball. Yet throughout at all, despite how high or low tax rates have been set, overall tax revenue measured as a percentage of GDP has been more or less the same. US tax revenue average about 17.7% of GDP. You’re in, you’re out, regardless of what actual tax rates are.

If Uncle Sam Defaults

In other words, the US government’s slice of the economic pie is about 17.7% plus or minus a very narrow range. In the fiscal year 2018 for example, the federal government’s tax revenue was 18% of GDP. The point is they could jack up tax rates to the moon, but actual tax revenue won’t budge at all. You’d think they would recognize this, that eight decades of tax data would make them think, “If we can’t increase our slice of the pie, why don’t we just try to make the pie bigger?” No, they fall back on the same old soak the rich mentality because it gets them elected. Can the government default? Since raising taxes won’t actually fix anything, their next move is to default. This could mean either defaulting on their creditors, people who own the debt or defaulting on their obligations to taxpayers like Social Security.

Debts have to be paid, obligations have to be met. Click To Tweet

That’s already happening. In the 2018 annual report, the Social Security Administration stated that its trust funds would run out of money in 2034. After that, they’ll have no choice but to dramatically cut benefits for current and future Social Security recipients. Imagine paying to the system for your entire life under a promise that you’ll receive certain benefits, only to have that promise broken. That constitutes a default and it’s already in the works. Defaulting on creditors is a tricky one. The top owners of the US debt are as follows, the Social Security Administration. Yes, it’s true. Social Security is the top US debt holder. If Uncle Sam defaults on Social Security, that program was even more royally screwed.

The Federal Reserve, the Fed owes trillions of dollars’ worth of US debt. If Uncle Sam defaults, it would wipe out the Fed’s solvency and create an epic currency crisis for the US dollar. Foreign creditors like China. If the Fed defaults on the Chinese, it would create a global financial crisis as nearly all foreigners would dump their US bonds, borrowing costs would skyrocket as a result, bankrupting the government. None of these is a good option, which leads to number four, inflation. For thousands of years, governments in financial distress resorted to debasing their currencies and creating inflation in order to make ends meet. Governments like inflation because it slowly reduces the value of the debt that they borrowed.

Social Security Taxes

Because inflation is so gradual around 3% annually, no one kicks up much of a fuss, even though it steals prosperity year after year. Most likely they’ll continue to print money in an attempt to create inflation and inflate the debt away. These are all things that are a reasonable person should plan on. Higher taxes, higher inflation, defaults on Social Security. This is based on the government’s own data. It’s not anything to fear. There are plenty of solutions. I have some of those solutions. Number one, the way the government taxes us on Social Security, most folks don’t even realize they’re going to pay taxes again on Social Security. If you want to see how to avoid that hurdle, call me. I’ll show you what to do. I’m going to show you how to take advantage of the current US tax code.

SMR 25 | Pay Less In Taxes

Pay Less In Taxes: Raising taxes won’t actually fix anything.

 

You’re more than likely if you’re reading this, we share some beliefs. What I find is that most people are doing the opposite of what their beliefs are with their money. “Hollis, what do you mean?” For instance, let’s say me. If someone asked me, “Hollis, do you think taxes are going to be higher or lower in the future?” I’m going to say, “Jimmy, I think they’re going to be higher.” “Hollis, if you believe that, what are you doing?” “I’m not contributing any money to a 401(k).” “Hollis, why not?” “I think taxes are going to be higher.” Why would I want to postpone the tax to take the money out at a higher rate? If I thought taxes would be lower in the future, then I will be putting as much money as I could in the 401(k) or an IRA.

I can avoid the tax now to pay the tax later on at a lower rate when I’d take the money out. I believe just the opposite. I think taxes are going to be higher in the future. I have no guarantee. I don’t have a crystal ball. It’s what I believe. My behavior with my own money, my own funds, I’m doing what I believe. I am avoiding putting money in a 401(k) or IRA. I would rather pay the tax, let the money grow tax-free, when I take it out, I’m done paying the taxes on it. Not only that, one of the strategies that I like when I take the money out down the road, it is not even reportable to the US government because the IRS recognizes it as a loan. You don’t even put it on 1040. When I learned about this years ago, I couldn’t believe it. You get the income and you do not report it on 1040 when you file your taxes.

Therefore, not making your Social Security be taxed by this, what they call BS provisional income. The government has absolutely stuck it to us, making us pay taxes twice on Social Security. Again, I share this often about my parents. The government loves people like Hollis and June Day. They were typical textbook blue-collar workers who the government forced to pay into Medicare and Social Security, just like we’re forced to. We don’t have a choice. The government, as I say, every paycheck pretty much gives me the middle finger and says, “Screw you, Hollis. We can manage your money better than you. Give it to us in the form of Social Security.” That’s exactly what I think the government’s thoughts or when they make me pay into the biggest Ponzi scheme ever invented, ever been established is the Social Security system.

Educate yourself and decide. Click To Tweet

My parents, Hollis and June, paid into it for all those years. They worked all those years. Neither one of them ever collected a dime, a penny from Social Security or Medicare. They both passed away. Mom died at 54 years old of ovarian cancer. My Dad died at 64 years old from a pulmonary embolism. My Dad was nine years older than my mother. My mom died first. My dad died seventeen months later. They never got a dime from Social Security. This is the deal. I want you to know this. I’m sure Hollis and June Day are not the only two people that’s happened to before or you start withdrawing Social Security and you only collect a year of payments, but you’ve put into it for 40 years as a worker. It happens often. I know it happens as well that on the flip side, people live to be 100 or 95, and so maybe they’re taken out more than they put in.

How can Social Security not have a bunch of excess money if that’s the rules? Why Social Security’s website are they saying they’re going to be bankrupt, the trust funds are out of money in 2035. Not only that, but they’re also double taxing Social Security. They’re not only not giving benefits to people or the heirs because obviously if my mom and dad worked all those years as they did and instead of Social Security, let’s just say they put it into a bank or they put it under their mattress. At least when they died, it’s passed down to their heirs, to the children. It’s not with Social Security. You die, nobody gets anything. Think about that. How could Social Security not have access? I know why. More than likely, a high probability, there’s a bunch of idiots, crooks receiving benefits that have probably never paid in or had put very little in. That’s why.

You would think it would balance out with people that only maybe received a couple of years of payments and they died, that it would balance out with people who are living into their 90s, but the system is broke. In my opinion, in my belief, they’re going to keep means-testing Social Security. If you are married and filing your taxes jointly and you make over $44,000 a year, 85% of the amount of your Social Security that you receive is going to be taxed at whatever tax bracket you’re in. There are several variables right there. We don’t know what future tax rates are. My opinion, my belief, I think they’re going to be higher.

SMR 25 | Pay Less In Taxes

Pay Less In Taxes: Look at the problems this country has because of politicians.

 

If you want to see how to avoid paying taxes in Social Security, and I’m not talking about taking your current income. Taking what you have and moving it to another place. Obviously, if it’s in a qualified account, an IRA, a SEP, a 401(k), yes, you have to pay the taxes on that money when you take it out, when you move it. Pay the tax, put it in another place where the income is tax-free down the road and no, it’s not an annuity. I’m not talking about an annuity. I want to get that clear. It’s not an annuity. Put it somewhere else down the road where the income is tax-free and it grows with compounding interest. I can show you the dollar cost average on this money. It’s a pretty neat strategy that is in the tax code that not many people are familiar with it because it’s not a sexy rate of return. It’s not in your main street media type of investment. I do things different. I swim upstream. I brush my teeth with fluoride-free toothpaste. I do things a little bit different.

I want to keep about the same amount in my pockets. I’ll show you exactly what I’m doing, sit down with you, give you a book or two to read and you make your own choice. You educate yourself and decide this is for you. We can go over capital equivalent value. I like going over that with people, the CEV. Go with the US Tax Code 7702, 101(a), 101(g)(1), 72(e), 72(e)(5) and 86. It’s a section of the IRS Tax Code. Learn what the ultra-wealthy are doing with their money. You don’t have to be ultra-wealthy. We just scale it down to your income. It’s all we’re doing, scaling down. I’m not wealthy, much less ultra-wealthy. I’m wealthy in my family, my beautiful wife and children. As far as finances, I’m not wealthy, much less the ultra-wealthy, but I’m doing what the ultra-wealthy are doing. I scale it down to my income. It beats the pants off on the 401(k) any day.

Senator Elizabeth Warren’s Bill

I have an article. It’s highlighting a couple of things is going on in our country. Elizabeth Warren wants to destroy centuries of legal standards to take your freedom, requires more evidence than to take your money. Criminal convictions depend on the accused of being guilty beyond all reasonable doubt. Civil convictions dependent only on a preponderance of evidence is pointing to guilt. Senator Elizabeth Warren introduced the bill to apply criminal penalties to corporate executives found civilly liable for company misconduct. She’s a habitual liar about her heritage. This is what I call a piece of dung. That’s a scripture word there. She is a piece of dung because she’s saying what she wants to happen to other people, but yet she’s been a habitual liar her whole career. She’s a piece of crap.

It's frustrating the way that the stocks and bonds are advertised. They're called security. There's nothing secure about a security. Click To Tweet

As a former Harvard Law professor, which she got the job because she said she was Native American. Warren must understand the implications of this bill and that makes her very scary candidate to occupy the Oval Office. Philadelphia became the first major US city to ban cashless stores. It seems like it would be a lot easier for those people to continue going to the same stores where they are currently shopping and allow other customers to prefer to shop on Amazon and go to make their own decisions but no, politicians’ zeal. You look at the problems this country has because of politicians. We need this clean slate in DC. Politicians’ zeal to stick it to Amazon outweighs everything else, so they choose instead to outlaw innovation at the expense of consumers. Another victory for the Bolsheviks. Genealogy companies go all in for the federal government.

Oil And Gas Tax Advantages

BMW ends pensions for workers. That’s financial there. The era of US companies is offering pensions is coming to a close. The latest evidence after freezing its two UK pension plans in 2017, BMW will do the same for its remaining US plans. Since 2011, new workers have not been offered a pension, but rather a defined a contribution plan. Workers who formerly had a pension will keep what they have accrued, but not accrue more. Current retirees receiving a pension will not be affected. Times are changing and with current low-interest rates, pensions are not sustainable. Social Security in bad shape too. You could go to Puerto Rico. Puerto Rico has some phenomenal tax advantages to living there. Speaking of the tax advantages, there’s a way to potentially drop down a tax bracket or two on a current investment.

The investment is oil and gas. I’m a big believer in oil and gas. I think the future is bright. Even if oil prices hovering around $64 a barrel, it’s not bad. When you invest in oil and gas, when you invest your money in the direct participation of oil wells, your monthly cashflow, that’s what you’re going to receive because you’re putting money into drill wells to hit oil. Those monthly checks are going to fluctuate. Number one, because there’s risk involved. Number one, are you going to hit oil? Number two, what’s the price of oil per barrel? Number three, how many barrels per day are being pumped? There’s roughly a 90-day lag period of oil that’s coming out of the ground a day. You’ll get paid roughly in about 90 days. We’re just taking advantage of the US tax code, IRS Section 263(c), 59(e). That’s what we’re following. IRS Section 611, 613 and Section 613(c)(6) and the last one, IRS Section 469(c)(3).

SMR 25 | Pay Less In Taxes

Pay Less In Taxes: MRO, COP, and EOG are the three major players right now in the east and west.

 

That’s what makes it legal. We followed the tax code to a T where you can invest cash in something and potentially get up to 100% deduction in that package. The opportunity is there depending on when the wells are drilled, but you’re no doubt going to get the deduction for probably around 75% to 80% but it could be higher. If you invest your money in 2019, when you file your 2019 taxes in 2020, you can get a deduction. Show me another investment where you get a deduction for putting your money in. The first 15% of income in oil wells, every year is tax-free. The first 15% is tax-free for life into the wells. If for some unforeseen reason, you don’t need the deduction. You can carry it forward for three years.

These laws have been on the books for a while. Ronald Reagan was very instrumental in making these laws. He wanted America, this phenomenal, great, awesome country we live in to be independent of oil from foreign countries and that’s where we are. It’s weird because we’re importing oil, but we were exporting oil. We actually have oil coming in and there’re passing barges leaving as well. I believe in oil and gas. I worked for a company out of Texas, been with them close to eight years and there are two ways to invest money with them. Number one is investing in oil wells. They’re receiving a nice tax deduction. I think it’s awesome that you can drop down a tax bracket by putting your money in an oil and gas well package and getting a nice bottom line deduction on your taxes.

This is not a tax credit. This is a deduction. I don’t know of another strategy out there like this that’s comparable, where you put money in and get the massive deduction. We’re talking massive deductions here. The law currently states up to 85%, but this administration tweaked it and you can accelerate the depletion allowance for that other 15% in year one. It depends on when the wells are drilled in that package. Worst case scenario, you’re going to get probably a 78% to 85% deduction on the money you invest. The whole point of that when you put your money in, once the oil starts coming in, it’s monthly cashflow. I’ve been part of two packages that we drilled the wells, received monthly cashflow, proved that reserves.

When you actually retire, you have conquered the mountain. Click To Tweet

It’s like flipping a house. You buy a house at a discount, fix it up and you sell it, you prove what it’s worth. The two packages that have been, they were a little bit north of 50% rate of return. It was like a 20% return on the basis, but once you factor in the tax deduction and the middle come, they were a little over 50%. That’s solid. Yes, there’s risk involved. I think this company does a great job of mitigating the risk. The technology for oil and gas has improved dramatically over the last years. How they can get down and extract the oil. I introduced you to the company and you take it from there and you ask questions. Learn what wealthy folks do with their money and scale it down to your income. This is stuff you’re not hearing about in the mainstream media. Before this company goes to drill the wells, what has to happen first? They have to go lease the land. How do they lease land? Where do they get money from to lease? Where do ConocoPhillips and Marathon receive their money to go give to landowners to lease land? Where do they get that money from? Those two companies, for instance, are publicly traded companies. You could go buy a Marathon stock if you want it to.

I actually don’t own any Marathon stock, but I do follow it. Their stock is MRO. I follow ConocoPhillips, I follow EOG. Those three companies are the three major players in East and West Feliciana Parish, Amite and Wilkinson County in Mississippi. Even some St. Helena Parish, Pointe Coupee Parish, even the Northern portion of East Baton Rouge. These oil companies are targeting the Austin Chalk Formation. We’re looking at leasing our land to a company. We have 400 acres in Ethel, Louisiana. Beautiful East Feliciana Parish located not far behind the old location to the FS William’s Country Store, where I grew up as a kid going there with my grandparents.

If we lease this land to ConocoPhillips, where’d the money come from? ConocoPhillips, they’re a public traded company, they have shareholders. We’re a small company. We’ve grown tremendously the last several years, but we’re small. We do private equity deals. That’s where we get money. They reward you, they reward the investors. You’re actually called a lender. You can lend your money, they’re going to go pay the landowners these leases and they’re going to pay you a rate of return. It is a way to receive interest on your money without decreasing the basis. I thank my friend Chris for telling me to be bold on that statement there. It’s a way to receive interest without decreasing the basis. “Hollis, I could go do that on a CD.” You could, but you wouldn’t get monthly income on that. If you sign up for a year, a CD’s paying 2.25% maybe.

SMR 25 | Pay Less In Taxes

Pay Less In Taxes: If you believe that people are trying to come to this country because of climate change, there’s no fact in that.

 

I don’t think that they’re paying that. These interest rates are nice. These interest rates have one, two and three-year options. The one-year simple interest option, means you get paid monthly. Does the sound of monthly cashflow interest you? If you don’t want monthly cashflow and maybe the money isn’t an IRA or 401(k), then you may prefer the compounding choice. The simple interest is a monthly payment. It’s a way to receive monthly cashflow, monthly interest checks off your basis. The minimum investment’s $50,000 but the one year term is 8%. That’s not bad. Not a home run, but you put up $50,000 and you’re going to receive $4,000 over the course of a year paid monthly. You put up $100,000 obviously 8% is $8,000. If you want to lock it up for two years, you’re going to receive 8.5%. The three-year option is 9%.

You put up $100,000, you’re going to get paid $27,000 over that three-year terms, basically it’s $9,000 a year over the course every month. Once the note is done, once it’s finished, the one, two or three-year term is done, you receive your basis back. It’s very simple math. That’s why I like it. It’s a very simple arithmetic. The compounding is a little bit different. You put your money up there and you get nothing over the course of one year. At the end of one year, you get your basis back plus 8.3% that it earned. You lock your money for two years, you get 9.23%. You put away $100,000, you’re going to get back $18,459. Besides this and a CD, I know even the phantom fake money annuities can’t do this. Mutual funds can’t do this, REITs can’t. You can see exactly to the penny what you’re going to earn. On the oil well side, no, because that fluctuates. Remember, the price of oil per barrel and how many barrels per day being pumped. This is a fixed interest rate.

You lock away $100,000 for three years on the compounding, if you have some lazy money in an old 401(k) maybe you have a couple of different 401(k)s, you can combine those into a simple IRA. Put away $150,000, lock it up for three years, at the end of the 36 months, you’re going to get your $150,000 back in basis plus another $46,296. That interest rate is 10.28%, three-year compounding yield. That’s pretty solid. You’re not going to hear about this from your strip mall financial advisor. All that money has to go through Wall Street. The minimum amount of the amount to lend is $50,000. Put away $50,000 for three years at the end of a three-year term, you’re going to get your $50,000 back plus $15,432. That is solid. It is not correlated to the price of oil per barrel. It is a secured business loan.

Each business loan is secured by pari passu security interest in the project loan documents preferred via a UCC financing statement in favor of each lender. Perfected liens are created when the lender has files a UCC financing statement with the appropriate authority, commonly the Office of the Secretary of State. This statement specifies the collateral used to secure the loan and gives the lender precedents in the collection process if the borrower defaults. Unperfected liens leave lenders open to possible claims against the collateral by other creditors. The project alone will be secured by liens against real and personal property of the sponsor. Does that interest you? This is a great way to receive monthly income, monthly cashflow without decreasing your principal, without going into your basis.

There’s the fixed interest rate side and there’s the oil well side where we can knock you down a tax bracket or two, depending on how much you invest in your money. A little bit more risk involved when you stick a drill bit 5,000, 6,000 feet deep, obviously. This company has a good track record. They have hit dry holes before, meaning that they drilled a well and there was no oil there. That’s the importance of being in more than one well per package. That’s the importance of that. Everything I do, two of the three strategies that I deal with are tax sensitive. I want Uncle Sam in my life as little as possible. If you believe our government’s too small, don’t call me. If you believe we don’t pay enough in taxes, don’t call me. If you believe we should be paying more in taxes, don’t call me. The government has gotten too big and there are ways to pay less in taxes. That’s what I want to do. I hate taxes and you should too.

Decreasing Tax Liability To The Government

What if there is a way to decrease the tax liability to the government? All you’re doing is following the current IRS tax code. It’s all you’re doing. Does that interest you? I encourage you when you meet with someone to ask them what they’re doing with their own money, and if they’re pitching things to you that they don’t own, just be cautious of that. It’s called eating your home cooking. You’re not hearing me talking about mutual funds. These silly target date mutual funds, these silly annuities where they lock your money up for fourteen years. Some of these companies have fake bonus money. It’s not real. They are allowed to advertise that. It’s very frustrating, the way that the stocks and bonds are advertised. It’s weird. They’re calling security. There’s nothing secure about security. I think oil and gas, going by what I believe is a bright future. The price of oil per barrel fluctuating around $64, $65 a barrel and I’d be happy with it if it went to $70.

You’re going to pay a little bit at the pump. You are going to pay a little bit over $3 a gallon at the pump, but it’s not gouging you. The landowners win, refineries are making money. That’s great. You can listen to ignorant, stupid, elitist politicians who think the world’s going to end in twelve years and it won’t matter. If you believe that people are trying to come to this country because of climate change, I don’t see the facts in that. What would it matter anyway? Think about that. If they’re fleeing their countries for climate change, because that’s the reason, there’s nowhere to flee. Climate change can affect everybody. I’m still amazed by this the political system that we have. We elect these politicians and they get up there, they make the rules and expect us to follow the rules, but yet they do the opposite. That’s called being an elitist piece of crap.

As a society, as a productive citizen of society, we are overtaxed and there’re ways to pay less in taxes. If you want to see how to avoid paying taxes and Social Security, we need to have a conversation. Have you ever had a conversation about the distribution side of your money? If you think of retirement as climbing a mountain and you’re going to work 30, 35, 40 years and you’re climbing the mountain, just like you would in real life, if you’re climbing the mountain for pleasure, you’re climbing Mount Everest, the point of that is to reach the peak. Will you stick the flag at the top? That’s retirement. When you actually retire, you have conquered the mountain. You have retired, congratulations.

You want to come down the mountain, like in real life. If you take you a couple of days to climb a mountain, you want to come down and show your friends and family, your loved ones, the pictures you took off going on the mountain and talk about your experience, that’s coming down the mountain. In retirement, coming down the mountain is the distribution side of your money. You could pay taxes unnecessarily, unknowingly because of where your money sits. It’s things that the government and the IRS are not going to tell you about. It seems that the people that are married to Wall Street are not going to talk about it.

I have these little calculators that sat down with a guy, him and his wife. He told me how much he wanted in retirement. We put it in there for the next ten years. He’d have to make 12% every year. He can’t do that and that is simple math. I like math. I like easy numbers. Let me show you what I’m doing with my own money. You can call me, 202-SAGE. That’s 202-7243. If I pushed a button a day and you liked it, call me or email me. You can go to the website SageMoneyRadio.com. You can send me an email from there. Let’s get together for a hot cup of coffee. I hope you enjoyed this. God bless you, God bless the USA.

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