A Seniors first Year of Retirement and the Financial Reality.

 

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.

Tax Reality for my first year of Retirement

by Don Bobbitt, 2015

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IWas Just Thinkin’ – IRS Agents, FBI Agents

Just Chewing on my Cud, Why?

I was Just Thinkin’

With the mistakes of the FBI relative to catching terrorists being blamed on a manpower shortage, I just had an epiphany.

Obama stuck a provision in his omnipotent Obama-Care Bill that allowed for the hiring of over 15,000 new IRS agents to catch Americans who cheat on their taxes.

At the same time, the FBI doesn’t have enough agents to track every potential terrorist that enters and leaves our country.

SO…… Let’s take the money for at least half of those potential IRS agents and hire more FBI Agents.

This way we get better protection for ALL Americans working against potential terrorist threats, and the IRS can still have 7500 more people to catch those of us who try to claim our dogs as a dependent.

It Looks Good to Me!

Don

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Deferred Taxes – the Catch-22 for Baby-Boomers and other Retirees

Check out my Hub article on the realities of being a Retiree and having an IRA that continues to shrink much faster than planned.

DEFERRED TAXES – Another Catch-22 for BABY BOOMERS with a 401K or IRA

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Don Bobbitt