Asset protection companies are sending letters about tax risks on trusts and other methods families would pass wealth to their next of kin. In these letters they state it may be wise to release some assets now before the possible changes coming from Deep State this administration.
It is also being suggested to exit out 401ks prior to December due to tax implications.
Market Caution in December… Taxes?
To set the scene… Calpers(California Based Fund) has been lobbying for years to confiscate 401ks so they can manage them and cover up their losses. Washington and the democrats been trying to get this passed and if it did, there would clearly be a revolution. 401ks would ONLY be allowed to select assets that are ‘WOKE or POLITICALLY CORRECT’.
In all fairness, Calpers while doing there best, they have their hands tied. They are FORCED to invest in green companies which is destroying their book. All investments have been made on politics and no based on wealth gains.
Also note, this administration stuffed in the bill that every transaction over $600 will be tracked, including crypto currency. — Yes they are coming for those taxes, free money is never free.
Forced Pension Confiscation?
In the new bill, there are two points you need to be aware of:
- Tracking 600$ or more by IRS
- Small businesses of 5 or more will have 10% of salary placed into Govt approved plans
Keep in mind, you will NEVER be able to withdraw money because you will only be entitled to an annuity.
In Summary:
If there is fear of taxes of gains on 401ks and changes in how they are managed. We may see withdrawals and taking out the profits. So have caution, November and December from what I am hearing may have a Panic in the markets.