He’s gone and done it now. Joe Biden is officially targeting your IRA and 401(k). If you value your retirement savings, you need to listen right now. I’m Bryan Ellis. This is Episode #327 of Self-Directed Investor Talk.

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Hello, Self-Directed Investor Nation, all across the fruited plane! Welcome to the SHOW OF RECORD for savvy self-directed investors just like you.

Joe Biden, Democrat candidate for President of the United States, has tried to slip in a doozy of a tax policy change that, frankly, will hit me and you right in the pocketbook… and he’s trying to make sure that nobody knows about it by not bringing any attention to it.

But this has not escaped the watchful eye of the team here at Self-Directed Investor Talk.

On today’s page, which being that this is episode #327, that page is, of course, SDITalk.com/327… On that page, I’ll link to the sources from which this data comes so you can judge it for yourself.

But here’s the bottom line: If you elect Joe Biden as president, your IRA and 401(k) tax benefits are going to be slashed. Period.

The specifics of the policy are not yet well described by the Biden campaign, because I suspect they’re trying to avoid the absolute CRAPSTORM that will result whenever the public gets wind of this. But it’s such a clear and obvious negative that, well… I’ll just read a quote to you from RollCall.com that has some good coverage of this issue. The quote is:

The former vice president’s "drastic" proposal, in the words of one industry lobbyist, would upend existing tax preferences for retirement saving in 401(k)-style plans. The Investment Company Institute, which represents mutual funds, exchange-traded funds and other investment vehicles in the U.S. and abroad, has already promised opposition.

So, my friends, it looks something like this:

Under the current system - which has worked beautifully for decades - when you contribute money to a traditional IRA or 401(k), you get to deduct that contribution against your taxable income.

And old creepy Joe… it will work the same way under his system. But with one “little” caveat.

Joe will still let you take a deduction for your contribution. But he’s going to limit the amount of that deduction to some as yet underdetermined top rate… probably 26% according to current expectations.

So that means that, for those of you higher income earners - of which there are many in the SDI Talk audience - and whose marginal tax rate is not a mere 26% but is 32% or 37% or even higher…

Well… you’re just out of luck. Sure, you can still make the contributions… only your tax benefits will be puny under Joe Biden versus how every other President - Democrat and Republican - has handled things in the past.

But that’s not the worst of it, my friends. What happens whenever Washington begins to limit a tax benefit? The answer is always the same: They limit it EVEN MORE in the future.

So mark my word: If you elect Joe Biden and let him begin to slash your tax benefits on your IRA or 401(k) now… it’s just a matter of time… a matter of VERY LITTLE TIME… before somebody decides that even Joe didn’t slash your tax benefits enough…

...and soon enough, the tax advantage to your IRA and 401(k) is gone.

But you have a choice. You can make sure that doesn’t happen. If you’re made the connection that voting for anybody but Joe Biden could be a wise decision, you’ve reached a wise deduction indeed.

Oh… and a quick note… the latest edition of Self-Directed Investor Magazine is now out, and it’s a SPECTACULAR edition, if I do say so myself. If you’d like a complimentary copy, just send a text message to my office to request it and we’ll take care of you. The phone number is 678-888-4000…. Again 678-888-4000.

My friends… Invest wisely today and live well forever!

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