IRAs Come With Strings Attached; Are There Safer Retirement Alternatives?
Most people planning for retirement probably would prefer some predictability as they plot out their post-work futures, but financial professionals say the reality they face is that uncertainty surrounds the stock market, tax rates and the future of Social Security.
And even one of the most popular retirement-savings tools – the Individual Retirement Accounts (IRA) – can get more complicated than many people realize, limiting a retiree’s control of their money, retirement planners say.
“We’re supposed to believe we’ll pay lower taxes on our future IRA distributions,” says Jeff Brummett (www.greenlinefinancialservices.com), a financial talk show host, public speaker, and the author of The Worthless IRA: How To Keep Wall Street and Uncle Sam From Getting Their Greedy Little Fingers On Your Hard-Earned Money.
“An IRA gives Wall Street the use of our money with no promise it will be there when we need it. Even if it is, one must remember we have a partner in our traditional IRA/401k account. When one considers our astronomical national debt combined with the fact that only one-third of baby boomers are drawing social security (or medicare) benefits today, does anyone really believe tax rates are not likely to go through the stratosphere in order to support these programs in the future?
“Fifty million baby boomers have yet to turn 65. All will have done so by 2030. Math says Uncle Sam will likely increase his percent of ownership on our tax-deferred IRA account values by raising taxes on withdrawals. How else will he pay for these two retirement entitlement programs? Both are broke today with a third of baby boomers drawing benefits. The math is the math!”
Brummett breaks down three ways strings are attached to IRAs and provides two retirement-money alternatives he says are safer:
IRA Strings
Most IRA holders must invest in a securities-based financial product. “This is a product of risk, and retirement is a critical and certain need,” Brummett says. “Wouldn’t it be more logical and responsible for everyone to be able to invest a portion of their cumulative life savings into an investment offering certainty? Why not allow these retirement IRA savings instruments to include a variety of safe-money financial products?”
You can’t withdraw until age 59½. If you take money out of an IRA before 59½, the IRS imposes a 10% penalty. There’s also the possibility of a marginal tax rate increase that the withdrawal might cause. “Studies by Fidelity and Vanguard have indicated that over 40% of people with IRAs and 401(k)s withdraw from those accounts before they’re 59½,” Brummett says. “And long-term, whether stock values rise or fall, the only guaranteed beneficiary is Uncle Sam and the financial elite of Wall Street.”
You must begin withdrawing at age 70½. “IRA rules restrict your activity not only on the front end, but also the back end,” Brummett says. “The key back-end requirement is that at age 70½ you must start withdrawing a minimum amount each year, which is subject to income tax. We give up far more control of our money than one might think, and it can severely hurt our financial future if taxes are increased in the future.”
Retirement Alternatives
Tax favored cash-value life insurance. Cash-value life insurance can offer its owner a source of non-taxable income if properly designed and executed. “Most people have been purposely – and incorrectly – taught to believe that the only benefit of owning a life insurance policy is the death benefit,” Brummett says. “Permanent cash-value life insurance policies often have great living benefits, allowing the owner to leverage multiple non-taxable cash benefits contained within the policy while still living.”
Fixed-index annuity. “Protecting principal and providing income are the two most important objectives for anyone approaching retirement,” Brummett says. “In a variable annuity, there is no principal protection, and the owner must sometimes pay an additional fee to include a spouse in the living benefit. Fixed-index annuities offer lifetime income protection with zero to 1% fees, and they have 100% protection of principal from market risk.”
“What most retirees need today is not more of Wall Street’s version of diversification - diversification of market risk,” Brummett says. “What they need is diversification from market risk and a healthy dose of guaranteed income.”
About Jeff Brummett
Jeff Brummett (www.greenlinefinancialservices.com) is a radio talk show host, public speaker, and the author of The Worthless IRA: How To Keep Wall Street and Uncle Sam From Getting Their Greedy Little Fingers On Your Hard-Earned Money. His radio show, “Safe Money,” airs on 700AM WLW in Cincinnati, Ohio. He is one of the most sought-after financial public speakers in the tri-state area of Indiana, Kentucky and Ohio. Brummett, the past president of a two-time Inc. 500 company, has spent 25 years in entrepreneurial leadership and executive management.
===============================
Contact:
Weldon Freeman (202) 690-1384
Jay Fletcher (202) 690-0498
WASHINGTON, April 23, 2019 – Agriculture Secretary Sonny Perdue today announced that the U.S. Department of Agriculture (USDA) is now accepting online applications for funding through the new ReConnect Rural Broadband Pilot Program. These funds will enable the federal government to partner with the private sector and rural communities to build modern broadband infrastructure in areas with insufficient internet service. Insufficient service is defined as connection speeds of less than 10 megabits per second download and 1 megabit per second upload. Beginning today, ReConnect funding applications can be submitted at reconnect.usda.gov.
“Reliable, high-speed broadband internet e-Connectivity is critical for economic prosperity and quality of life in the 21st century, from education to health care to agriculture to manufacturing and beyond,” Secretary Perdue said. “We at USDA are very excited to begin accepting applications for funds from this new and innovative program, which will bring critical infrastructure investments to homes, farms, ranches, schools and health care sites in rural America.”
Congress first appropriated funds for the new Rural e-Connectivity Pilot Program, known as ReConnect, in 2018. The program will be a proof-of-concept, enabling USDA to create and implement innovative options for rural connectivity by providing various financial packages to our customers.
In this first round of funding, USDA is making available at least $600 million in rural broadband projects, through $200 million in grants, $200 million in loan and grant combinations, and $200 million in low-interest loans. The application deadlines for each of these funding packages are as follows:
This $600 million appropriation from Congress more than doubles federal funding available through USDA’s longstanding broadband programs. Future rounds of funding for ReConnect will be announced later this year.
For additional information about the ReConnect program, see page 5981 of the February 25, 2019, Federal Register (PDF, 230 KB) and page 64315 of the Dec. 14, 2018, Federal Register (PDF, 286 KB).
In April 2017, President Donald J. Trump established the Interagency Task Force on Agriculture and Rural Prosperity to identify legislative, regulatory and policy changes that could promote agriculture and prosperity in rural communities. In January 2018, Secretary Perdue presented the Task Force’s findings to President Trump. These findings included 31 recommendations to align the federal government with state, local and tribal governments to take advantage of opportunities that exist in rural America. Increasing investments in rural infrastructure, including rural broadband infrastructure, is a cornerstone recommendation of the task force.
To view the report in its entirety, please view the Report to the President of the United States from the Task Force on Agriculture and Rural Prosperity (PDF, 5.4 MB). In addition, to view the categories of the recommendations, please view the Rural Prosperity infographic (PDF, 190 KB).
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov.
#
==================
Testosterone For Women, Estrogen
For Men? Wrong Levels Bring Problems
By Don Colbert, M.D.
You don’t normally think of women needing testosterone and men needing estrogen. But when those levels drop for women and men, respectively, or are way out of balance, a wide range of symptoms may be suffered.
Fortunately, there are ways to correct those levels and restore health.
Ladies first.
Testosterone is considered the manly hormone, yet few women know that they have quite a bit of it in their bodies, primarily when they are young. In their 20s and 30s, their testosterone is in the normal range, but after 40 is when we start to see the decline in levels.
There are numerous factors that push testosterone levels lower – menopause, medications, stress, aging, removal of ovaries, and more. And with that drop, myriad problems can occur. Blood work is needed to confirm suspicions, but persistent symptoms of low testosterone in women are hard to argue away. Among those symptoms are aching joints, depression, inability to sleep, lack of sex drive, migraines, and weight gain.
But the great news is, it’s fixable.
The hormone health zone for testosterone in women
The first hormone women need to optimize is testosterone. It may sound a little strange to recommend testosterone therapy for women, but with it they can benefit enormously. Depression and anxiety usually lift. They can slow or sometimes reverse cellulite, lose weight (especially belly fat), tighten skin, restore libido, improve memory, strengthen the heart, and boost energy levels and stamina.
The benefits of boosting testosterone go further; low testosterone is linked to an increased risk of diabetes, high cholesterol, hardening of the arteries, and weak bones. Low testosterone levels give women many of the symptoms associated with hypothyroidism, which serves as another strong motivator for women to keep their testosterone levels up.
Sadly, most doctors are taught to prescribe only low doses of estradiol (in pill format, which is not good) and no testosterone whatsoever. In fact, doctors usually choose not to address hormone issues at all. They will tell you “normal ranges,” and if you happen to be low, they will usually prescribe you a medication for the symptoms. But that will never get your health back.
What your body needs is bioidentical hormone therapy. You may need to find another doctor, someone who will treat your low-testosterone symptoms with bioidentical testosterone.
I have found boosting testosterone levels with pellets to be effective and efficient. They raise levels quickly, and you don’t need to come back for another treatment for three to four months, and sometimes six months. Testosterone injections are the next-best method if pellets are too pricey, followed by testosterone creams.
I suggest women in their 40s start monitoring their testosterone levels. The time to start optimizing them is when the hormone levels go below 50-60 percent of upper range or when symptoms develop. When your testosterone levels are optimized, life is great!
Now for you men
Yes guys, it’s true: Even men need estrogen. There’s just a delicate balance that needs to be understood.
Estrogen is one of those things that is good for you in the proper amounts but bad if you have too much or too little of it. Just the right amount of estradiol is good for bone strength, sperm count, cholesterol metabolism, healthy libido, and clear thinking, just to name a few of the known values of estrogen in men.
Usually, however, it is too much estrogen in men that is much more common. This occurs when testosterone levels decrease due to aging, obesity, lifestyle, a lack of exercise, stress, endocrine disruptors, and so on. Too much estrogen has been found to promote abnormal clot formation or blood clots, and excessive estrogen levels may also increase the risk of stroke.
A healthy man usually needs to maintain at least a 10-to-1 ratio of testosterone to estrogen. When the ratio is far below 10-to-1, estrogen levels are too high, and that brings with it a host of ailments. Among the symptoms I’ve seen in men who have too much estrogen in their bodies are brain fog, blood clots, gynecomastia (man boobs), lack of erections, lack of sex drive, and low sperm counts.
There’s also a higher risk for prostate cancer and heart disease when estrogen (estradiol) levels in men are too high.
Too little estrogen, and you also have a lack of sexual interest, few erections, and no libido. It’s also not healthy for the brain to have super-low estrogen levels, nor is brain fog a symptom that anyone enjoys.
The hormone health zone for estrogen in men
Optimizing estrogen levels in men usually coincides with their testosterone levels. They are linked; raise testosterone, and estrogen usually rises; lower testosterone, and estrogen usually lowers. Remember, the goal is for at least a 10-to-1 ratio.
When men start using testosterone cream, shots, or pellets, some of the testosterone aromatizes, or converts, to estrogen. Some men have excessive aromatization, especially older men and men who are obese. To stay in the estradiol hormone health zone, men will need to take a hormone-regulating supplement called DIM (Diindolylmethane), 150 mg twice a day. It is the safest way to lower estrogen without the fear of going too low.
For men who have never had their estrogen levels checked and believe they might have the symptoms of high or low estrogen, ask for blood work that gives you your estradiol level. Then you and your doctor will know what to do to treat it. Estrogen levels are usually pretty easy to treat in men.
It may be surprising that men need to watch their estrogen levels, but it’s one of those things that they must be aware of. When we were learning to drive, we were all taught to watch for the “blind spots.” Those spots aren’t dangerous in and of themselves. But when you need to take action, the blind spots are suddenly very important.
Don Colbert, M.D. (www.drcolbert.com), is the author of Dr. Colbert's Hormone Health Zone. He has been a board-certified family practice doctor for more than 25 years and has offices in Orlando, Fla., and Dallas. The author of over 40 books, he wrote two New York Times best-sellers – The Seven Pillars of Health and Dr. Colbert’s “I Can Do This” Diet – has sold more than 10 million books and treated 50,000-plus patients. Dr. Colbert is a frequent show guest of Christian leaders Joyce Meyer, John Hagee, and Kenneth Copeland and has been featured on The Dr. Oz Show, Fox News, ABC World News Tonight, and in periodicals such as Newsweek and Reader’s Digest.
