Retirement and Taxes

Hi:

While I'm on the topic of Retirement Savings Plans and taxes, there certainly are many things to think about.

It does give me pause when I think of the taxes I pay every year and what our wonderful government does with the money. I know many others who think the same way.

One of the problems is the cost of living here. My gas bill for one month was $450.00! By the time we pay for the various insurances, taxes, and utilities we have little left of our monthly income.

Another issue is employment insurance. Did you know, for instance, that if you work after the age of 65 you must pay into employment insurance but are unable to collect it if you are laid off? This is just another form of straight taxation dressed up as a benefit. Who has the energy to challenge these rules? This is discriminatory.

As we become older and a bit wiser we do have opportunities to look around and see how others have managed their life. They are not working as hard and are enjoying life more.

Looking at the big financial picture certainly is important. Our life energy is limited and the government's ability to tax is voracious.

M.