Excel in Retirement

Where financial planning becomes understandable. David brings interesting stories each week to listeners of his Excel in Retirement show along with actionable ideas that may help listeners avoid pitfalls that many people face in their retirement. David C. Treece began his career in the financial services industry in 2011. He is an independent financial adviser. He has passed the Series 65 securities exam, and he is health and life insurance licensed in several states. David’s financial advisory firm focuses on retirement income planning.David worked for two other financial advisors before founding his firm in 2018. David launched Clients Excel because he has a desire for his clients to have a second to none experience when it comes to their financial planning for retirement. David relentlessly strives to be the best at helping people prepare for retirement.The bedrock of David’s ethos is treating others as he would want to be treated.David works tirelessly to continually bring pertinent content to our clients and friends through our weekly newsletter and podcast. Through these, David brings informative content that may aid you in preparing for retirement. Through his financial planning work, David’s hope is that his clients are empowered to have a confident financial future.David and his wife, Mallory, have a daughter named Amelia and rescue dog named Oscar. They also have a backyard flock of chickens that Amelia loves to tend. David and his family are active in their church in Spartanburg. He is also a volunteer mentor with JumpStart, which is a ministry for people who have been recently released from prison.

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Excel in Retirement

Taxes are on Sale! Ep. 101

May 25, 2022 • David C. Treece • Episode 101

Our business is growing! We’ve grown each year of our existence and we are on track to continue that pattern this year. We are growth minded, client focused, and desire to continue to serve new clients. Like most businesses, we were required to innovate during the COVID pandemic and fortunately, we came out of that situation stronger than we were.

We are growth minded, client focused, and desire to continue to serve new clients. Like most businesses, we were required to innovate during the COVID pandemic and fortunately, we came out of that situation stronger than we were.

Taxes are on sale right now. We may have talked with you previously about how it may be a good idea to convert your tax-deferred accounts to tax-free Roth accounts. If you believe taxes will be higher in the future than they are today, then this may be a good idea. We are thirty trillion dollars in debt as a country and our unfunded obligations are fatiguing to consider. The writing seems to be on the wall that taxes will have to be much higher than they are today to continue funding our government.

We’ve been able to skirt this issue in the last decade because America has been able to print more money to buy bonds and equities. But we can’t even do that now, or at least not right now. We printed too much money during the pandemic and it’s what’s causing our inflation issue. In order to tame inflation, the government is now increasing interest rates. Meaning, the government won’t be able to print more money to keep the wheels of industry turning or to make up its gap in funding. This means taxes are at an even higher likelihood of increasing than they otherwise were.

Now you may be scratching your head thinking “but why are taxes on sale?” As of last Friday, the S&P 500 was down 18.14% for the year. If you have $500,000 in your 401k and it’s down 18.14% you now have $409,300. When the market is down there is less to pay taxes on to convert to tax-free. At times, we may be able to create a situation for select clients where they will receive a bonus to enable them to make up some of their losses.

If you’d like to discover more about this, click here to schedule a 15-minute call with me.

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