The Greatest Generation

It has been stated that nearly 80 percent of the wealth in the United States is held by those over the age of 65. How did this happen? Is this not the generation born into the Great Depression and World War II? In Tom Brokaw's book, The Greatest Generation, he writes, "They answered the call to save the world from the two most powerful and ruthless military machines ever assembled... They faced great odds and a late start, but they did not protest. They succeeded on every front. They won the war: They saved the world. They came home to joyous and short-lived celebrations and immediately began the task of rebuilding their lives and the world they wanted. They married in record numbers and gave birth to another distinctive generation, the Baby Boomers. A grateful nation made it possible for more of them to attend college than any society had ever educated anywhere. They gave the world new science, literature, art, industry, and economic strength unparalleled in the long curve of history. As they now reach the twilight of their adventurous and prosperous lives, they remain, for the most part, exceptionally modest."

AG Financial Solutions is blessed to have the opportunity to serve many of you who are part of this "Greatest Generation." We see time and again the fruits of a lifestyle characterized by living within one,s means; prudent saving; tithing; and most importantly, acknowledgment of God's ownership of all with which He has entrusted us.

This generation is facing an interesting phenomenon that was not expected. Over the years, dollars were carefully saved and invested in retirement accounts such as IRAs, 401Ks, and 403Bs. The concept was to invest "pre-tax" dollars and then withdraw them at retirement when they would expect to be in a lower tax bracket. Guess what has happened? People have resisted withdrawing money from their retirement accounts as they have seen their tax-deferred assets grow dramatically. Now as they approach their 70th birthdays (regulations provide that retirement accounts must make mandatory minimum distributions by age 70 1/2), the minimum distributions they must take, as well as other income and retirement benefits, will drive them into their highest tax bracket ever. At this same time, many are concerned about rising costs of living, especially health care.

AG Financial Solutions has solutions to this dilemma that can deliver current income tax deductions; reduce taxable income; provide secure, generous fixed rates of return; and allow you to defer income to a future time or need. At your passing, the residual can go to bless ministries at home or around the world, turning "The Greatest Generation" into "The most Generous Generation."

If you have any questions regarding retirement solutions or estate planning, please contact your Regional Consultant or AG Financial Solutions office. They would be pleased to show you a customized plan that will meet your needs.