Our nation is busy trying to choose two candidates who will campaign against each other to
see who America considers the best one to be the new President. Unfortunately it isn’t going
to matter because neither side in this election wants to discuss the ridiculous financial situation
we find our selves in now. We owe others $19 Trillion and by the time the new President is in office
it will be closer to $22 Trillion. The new figure will puts us at about $1 Trillion in interest every year!

Now before I move forward I know that everybody has heard almost every candidate talk about their
new tax plan that will balance our budget in 4 years, 6 years in a decade etc. By the time any of these plans are operating you will see that the time limit isn’t correct. Even if it was correct our
national debt will be at $30 Trillion plus, which will take decades to close out.

I bring this all up to suggest a new strategy for preparing your retirement successfully. When I was young and buying my first house it was considered my future bank. Once I had some equity I could always use it to clean up my financial shortfall. It worked most of the time but it has to be forgotten
now because you will need as much equity as you possibly can get to make it to, and then through
your entire retirement.

There are two things that will stop your retirement dreams that you need to know: not enough equity
in your house to get you through to the end, and the U.S. Government coming after your money to keep the nation afloat. Social Security will not be there for everyone and with more mismanagement
it won’t be there for anyone. So what is a person to do?

The current tax laws for selling your house are very fair and very helpful. If you have lived in your house for two years and want to sell it for a profit: (a.) if you are single you get the first $250,000
of profit tax free or (b.) if you are married you get the first $500,000 of profit tax free. That will go a
long way toward a comfortable retirement. If you have a house with enough equity for your age, and
you are over 62, you can get a reverse mortgage which gives you a stipend of money or pays off your
mortgage or both and you don’t have to pay it back.

You need to start now because it appears our leaders are going to be more of a hindrance
than a help. It is time to put the oars in the water and start moving away from the waterfalls just
around the bend. It is never to late and certainly never TOO EARLY to get your boat and crew
working together for your common good!! Here’s to a pleasant voyage and a successful landing.

About Roger Schlesinger

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