Taxes and inflation: Where do we stand?

By Paul Cross

Annuity National Brokerage Co.

Gold, it’s easy to buy, easy to sell and has never been worth zero. So the commercial goes. The reality is, gold has been known to lose 50 percent of its value in a short time span and, historically, it took 26 years to recover.

Billionaire George Soros recently sold off nearly $800 million of gold bullion and Soros also slashed stakes in gold and silver mining companies during the first quarter. Gold is now "the ultimate bubble," Soros has declared, sparking fears that prices for the precious metal may soon suffer a tumble.

It’s true the golden years of retirement now require more money to withstand taxes and inflation just to maintain one’s standard of living. Financial universities and economists around the globe have concluded that income annuities can provide an income for 40 percent less than a traditional stock, bond and cash mix.

America is where the people, not the government, the people make impossible dreams come true.

The baby boomer generation of hardworking, intelligent, innovative Americans now becoming known as the golden boomers brought the greatest prosperity and financial growth ever to America and to the world. The golden boomers created personal wealth with the largest sources of income for the people and the largest revenue ever for the federal and state governments.

Where did we go wrong?

Taxes and inflation are now eating us alive as people scratch their head and ask themselves, where did we go wrong?

It wasn’t the people that went wrong. The people worked hard, saved and paid taxes while accumulating wealth. The government with the largest revenue ever couldn’t and didn’t manage to save a dime. During an era when they should have created substantial reserves they created colossal debt. Colossal debt that is now eating us all alive.

The golden boomers and seniors are searching for ways to combat inflation and taxes with the most efficient means to transfer wealth to their family heirs.

Tax-deferred growth in annuities puts tax dollars to work for you and compounds tax-deferred growth on tax dollars help combat both taxes and inflation. Tax-deferred growth inside annuities can now develop tax-favored streams of income for family heirs by converting big tax balloon payments into streams of income.

For golden boomers life insurance is now, more than ever, a precious asset. Single premium universal life and modified endowments can greatly increase an inheritance income-tax-free.

Taxes and inflation: How do we stand as a nation?

Taxes, inflation, market losses, bailouts and now austerity. Now is time to search out money smart ways to enjoy a richer lifestyle while protecting assets for family heirs.

The time to act is now.