Retirement Planning Advisors | KARL KIM, CFP, CLTC
    • Home
    • About us
    • Services
      • Retirement Planning
      • Medi-Cal Planning
    • Resources
      • Articles
      • Products
      • Course Library
    • FREE SEMINARS
      • Seminars Near You
      • Webinar
    • Contact
      • Contact Information
      • Schedule a Consultation

Looking Into Your Future

6/3/2020

0 Comments

 
Picture
​Oracle Karl is going to peer into his magical crystal ball to see what the future effects of all this economic stimulus will have on your retirement.
He sees current US National Debt at $26 trillion. At the start of 2017 it was $17 trillion dollars. 

If a fourth stimulus package is passed, it could very easily be at $30 trillion. The amount of debt that this country has taken on in such a short amount of time is unprecedented.

Why is this important? Because once we get to $50 trillion in debt, every single tax dollar that comes in is going to be used to pay the interest on the debt.

Nothing will be left for Medicare/Medicaid, Social Security and defense, our largest three expenditures.

What can the U.S. do?

We could cut expenses like every day people do when faced with a budget deficit.

Oracle Karl sees the possibility of this happening as non-existent.
The other option is that the U.S. could default on its debt.

If the U.S. did that interest rates would shoot up right away. Cost of doing business would go up, things would get more expensive.

The cost of mortgages would go up and the housing market would collapse.

The value of the dollar would nose dive.

We would no longer be the reserve currency of the world.

Disaster would ensue. Maybe even a global depression.

Oracle Karl thinks this is also not a possibility. 

The last option is for the government to increase income taxes.

Oracle Karl sees this as the easiest fix that the politicians have.

The only question is “How much higher?”

To answer that question, take a look at the historical chart of income tax rates (below).

The horizontal red line is our current top marginal tax rate of 37%.

What’s the old saying, “history tends to repeat itself.”

Historically speaking, we are at a pretty low point for tax rates. The highest this country was ever at was in 1945 at 94%.

​All during the ‘70’s, we were at 70%. During the 1982-1986 we were at 50%.
 
0 Comments



Leave a Reply.

    Picture
    Available on Amazon

    Archives

    June 2020
    May 2020
    January 2020
    December 2019
    September 2019
    August 2019
    July 2019
    June 2019
    February 2019
    December 2018
    November 2018
    December 2017
    November 2017

    Categories

    All

    RSS Feed

CONTACT

Office Hours:
8:00 am to 3:30 pm PST Monday – Friday
Address: 
16700 Valley View Ave. Suite 160 
​La Mirada, CA  90638
Phone:
714-994-0599
800-414-6722
FAX:
​714-994-0525
Picture

QUICK LINKS

My book "Don't Go Broke Paying the Nursing Home" is available on Amazon.com
SCHEDULE A CONSULTATION
Securities and Investment Advisory Services offered through Brokers International Financial Services, LLC, Member SIPC. Brokers International Financial Services, LLC is not an affiliated company.

This site is published for residents of the United States only. Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all of services referenced on this site are available in every state and through every advisor listed. For additional information, please contact Karl Kim at Karl@RPAfinancialcoach.com.

Retirement Planning Advisors, Inc. does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstance.


Website by Weebly Expert
Proudly powered by Weebly
Website by Weebly Expert
© COPYRIGHT 2014 - 2020 RETIREMENT PLANNING ADVISORS, INC. · ALL RIGHTS RESERVED · PRIVACY/TERMS OF USE
KARL KIM /// CERTIFIED FINANCIAL PLANNER™ /// CFP® /// CLTC /// CA LIC #0810324
How Californians can save a fortune on nursing home costs

How Californians Can Save A Fortune On Nursing Home Costs

DOWNLOAD FREE REPORT
  • Home
  • About us
  • Services
    • Retirement Planning
    • Medi-Cal Planning
  • Resources
    • Articles
    • Products
    • Course Library
  • FREE SEMINARS
    • Seminars Near You
    • Webinar
  • Contact
    • Contact Information
    • Schedule a Consultation