NEW YORK, NY November 14, 2008
/24-7PressRelease/ -- Barack Obama won the November 4 presidential election in a landslide, leaving his supporters ecstatic and his opponents worried that his tax policies will restrict the growth of wealth.
James Burns, author of the new book The 3 Secret Pillars of Wealth: How to Crack Your Wealth Code Using the Tools of the Self-made Billionaires, believes that Obama's proposed tax policies will put a greater burden on those who have amassed even moderate wealth. But he also believes that establishing a comfortable retirement is always possible.
"Having Obama as president may affect tax rates, but it doesn't affect the fundamental principles of investing that have guided people to wealth since the beginning of this country," says Burns. "You can still create a secure future for yourself and your family."
In The 3 Secret Pillars of Wealth, Burns discusses in-depth the implications of an increase in the capital gains tax, the estate tax and the taxes on 401(k)s. He reveals that many of these taxes can be minimized through smart financial planning and that it is up to each investor to understand and control their own wealth.
"It's important to realize that smart planning is key to keeping as much of your wealth as possible," says Burns. "As an example, families can avoid much of the estate tax through gifts to beneficiaries while the benefactor is still alive."
Other tips from The 3 Secret Pillars of Wealth include:
Educate yourself about any taxes that may affect you
Remove cash from any assets that are underperforming or that are now subject to higher taxes
Deploy those assets into tax-protected vehicles like municipal bonds
Secure your investments by making sure they are in accordance with your long-term goals
Review your financial plan regularly to make sure you are taking into account any new legislation that may have been passed
"If you aren't considering how new tax policies might affect your future returns, you aren't really in control of your finances," says Burns.
An attorney and a former member of the United States Marine Corps Force Recon, James Burns has two degrees in law and one in taxation and international tax. He has over seventeen years of combined financial, real estate and legal experience.
For more information, contact the author directly at Jambur64@cox.net.
White Diamond Press and author James Burns chose Arbor Books, Inc. (www.ArborBooks.com) to design and promote The 3 Secret Pillars of Wealth: How to Crack Your Wealth Code Using the Tools of the Self-made Billionaires. Arbor Books is an internationally renowned, full-service book design, ghostwriting and marketing firm.
(The 3 Secret Pillars of Wealth: How to Crack your Wealth Code Using the Tools of the Self-made Billionaires by James Burns; ISBN: 0-9801620-0-9; $19.95; 193 pages; 5½" x 8½"; softcover; WHITE DIAMOND PRESS)
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