Being the same age as President Trump, however a few billion dollars poorer, I wish he would focus on making the lives of his fellow seniors. For most of all, we barely have enough savings to pay our monthly expenses, yet alone to anticipate what financial surprises to come,
What a nice to hear from my financial advisor that in a couple of months I will have to declare 3.75% a year of my investments as income. Crap, right when I thought I was doing good, the government is telling me that it is payback time. President Trump. fellow “Oldie But A Goodie”,, can you inform them that in the last two years my social security has gone up a whopping $3.00 dollars a month.
Here is wht I suggest, a great compromise, and if our new president can institute this, I might even have a good reason to get a Trump Tattoo.
- No Federaal Taxes on Social Security.
- No long term declaration of income(3.75%) at at 70 1/2.
- A one time exemption of long term capital gains of any property, regardless if it’s residential or investment.