EVG Research Team here, and this news has us checking our customer records to see if Mitt Romney might be an EVG member.
One of our most popular “Black Box” strategies at EVG is freeing your IRA from stocks and bonds to build real wealth tax-free.
Now we’re certainly not endorsing anyone for US President - we’ll stay out of those weeds. We’re not even trying to say anything positive about the candidates other than this:
At $100 million, Mitt Romney isn’t just familiar with this EVG strategy... he’s extremely good at it.
But is it for everyone? Or just another one of the many...
Loopholes of the Rich and Famous?
Not at all.It’s a strategy anyone with an eligible IRA can take advantage of to build wealth... even though IRAs were only meant to provide a comfortable retirement, not riches.
The maximum annual contribution to an IRA is $6,000 – or $5,000 if you're under 50. And typically, the person managing your IRA (the “custodian”) invests the funds in stocks and bonds.
If your IRA just happens to buy shares in a young company that skyrockets to 100 times the purchase price, then you just turned that $6k into six-hundred thousand dollars.
So the value of your IRA can explode if you get lucky OR you know what you’re doing.
And Mitt Romney, just like EVG members, knew what he was doing.
Because another way to skyrocket your IRA besides hitting a lucky stock is to “free” it from your custodian’s stock picks and invest in a company you know has potential – your own!
Romney may have done the same thing by investing in Bain Capital or a related firm.
This takes some paperwork and legal maneuvering. But as we’ve covered before, a Federal tax court has settled the matter and this “Black Box” strategy is completely legal.
It does invite the question, though?
Why Build Wealth Inside Your IRA?
Moreover, why would Romney stockpile $100 million in an IRA?
It’s for the tax advantages.
When you start an IRA, you can choose to pay taxes when you withdraw the money in retirement... OR you can choose to pay taxes now and withdraw tax-free once you reach age 59 and a half (as long as your IRA is more than 5 years old).
That means if you contribute $6,000 to your IRA, and you choose to pay taxes on that $6,000 now rather than later... if it balloons to $600,000.00, you owe no taxes!
That means it’s possible that much of Romney’s $100 million IRA is tax-free income.
This may smell bad to people who plan to vote against Romney or think millionaires shouldn’t avoid taxes.
But it is the law of the land that made it possible. And according to Justice Learned Hand, there’s no obligation to pay more than the law demands:
Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes.
Justice Learned Hand,
in Helvering v. Gregory
Who Else Wants to Grow Wealth Tax-Free With the Money Inside Your IRA?
It’s not too late to take control of your IRA and start growing tax-free wealth.
If you haven’t already dived into Module #10, “How to Legally Free Your IRA and Invest the Money Wherever You Choose,” now is the time. And EVEN IF you didn’t pay taxes on your contributions upfront.
As you’ll discover in the lesson, it’s possible to roll your traditional IRA over to a Roth-IRA where your wealth can grow tax-free. You’ll have to pay some taxes now, but then you’re off to the races.
Many EVG members use their self-controlled IRAs to invest in silver, gold, commercial real estate... one member even wrote in to say they purchased livestock! Real, living cows!
Again, this is one of our most popular “Black Box” strategies.
And if a Presidential candidate worth $250 million is doing it, you can bet it’s worth trying out.
To take advantage of this “Black box” Strategy of the ultra-rich, go here now:
How to Legally Free Your IRA and Invest the Money Wherever You Choose
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