My article on the tax reality that I ran into after my first year of retirement.
I am a Baby Boomer, and my whole generation was told to put everything into tax-deferred savings.
The justification to us was that we would be in a lower tax bracket and would pay lower taxes.
Bit two things occurred that have been devastating to so many of my generation.
First, the Income tax system was stripped and rebuilt by Congress over the past couple of decades to where we Seniors, along with the lower middle-class of America are bearing the brunt of our countries tax load.
Second, The CPI index system was changed by Congress to where it is a false indicator of the true costs of living in America, and our Medical Insurance and care system costs have grown astronomically.
These things have made being a retiree a costly and dangerous lifestyle.
Click on the link below to read my article.
by Don Bobbitt, 2015