By Joe Jarvis
Lice, cockroaches, and root canals all have better approval ratings than Congress.
Congress controls government spending. And nine out of every ten people say the government doesn’t spend tax dollars wisely.
57% say tax rates are too high.
(But only 13% want to cut right to the heart of the issue and abolish the IRS.)
And whatever side of the aisle you’re on, the voters’ choice of President seems to be getting more ludicrous with each election cycle.
We all agree there is plenty to bitch about when it comes to the government.
But I’m still waiting for people to realize that you can ignore most of what the federal government does.
I don’t cast a ballot on election day. I vote with my life choices.
Sure I’ll criticize the US government; they certainly deserve it. But I don’t fight them. I just step aside, find the loophole, and get on with my life.
When one loophole closes, another opens. For instance, I plan to move to Puerto Rico and pay a total tax burden of 4% by taking advantage of the amazing tax incentives of Act 20 and 22.
Identifying how to navigate around the beast is a much more valuable outlet for my energy compared to campaigning, rallying, or arguing.
Yet some people are hopelessly stuck in the system.
A recent survey found that 80% of millennials worry Social Security won’t be there for them when they retire.
And they’re right – it won’t. The Social Security Administration admits it will run out of money in 2034.
Luckily, millennials have decades, sometimes almost half a century to go until retirement.
You can’t save Social Security by voting, running for office, or rioting in the streets. It’s already over $50 trillion short on the promises it’s made.
But you can take your retirement into your own hands.
In the modern “gig” economy, it’s common to have side income, if not full-time self-employment income. Anything from selling on eBay or Amazon, driving for Uber, freelancing, or even babysitting dogs counts.
And a lot of that money can be stashed in a Solo-401(k), tax-free. You can contribute up to $19,000 as an employee, and even more as your own employer to this retirement plan. Then you have much more flexibility to invest these funds for your retirement as you see fit.
For instance, you could buy a property, rent it out on Airbnb, and all the profits would go back into the Solo-401(k), earning you money for retirement. Or you could purchase silver, gold, or even crypto-currencies, and hold it in your own safe (in cold storage hardware wallets in the case of crypto).
And this is the type of retirement plan millennials are going to have to get used to. It might seem like more work and more hassle up front. But taking retirement into your owns hands is a real solution, not a false sense of security based on lies the government has told you about providing for your retirement.
But that’s what is so empowering about modern times. Never before in recorded history have individuals had so much power to direct the course of their lives, to move across the globe, start a business, or work from anywhere.
And if you don’t know how to do it, you can find out how… online, for free.
But looking for stability and security from the government is a fool’s errand.
Especially since the same path that led past generations to prosperity is simply not available to young people today.
Young people are paying more for college, making less than past generations, and still living with their parents.
They are getting married later, having fewer kids, and a quarter of people in their 20’s are having no sex at all, because of their financial situation.
It’s like young people feel trapped, and are longing for an escape.
Solo-401(k)s are one option to take control of your retirement back.
But there are so many other escape hatches from the broken system. For instance, 36% of Americans claim they would move to another country for a tax-free future.
If you make $104,000 or less, the foreign earned income tax credit means you will pay no taxes to the US government if you move abroad.
So over 1/3 of Americans can make their dreams come true by relocating to a friendly foreign tax jurisdiction.
And that’s the sort of thing that will actually produce meaningful change in your own life, and cast a vote in favor of a better government.
Because the government isn’t going to magically reform Social Security, lower taxes, and eliminate red tape.
Rest assured no sane politicians will be elected in 2020.
Take that energy that so many of your peers pour into fruitless political campaigns and petitions, and put it instead towards designing your own future.
Then you won’t have to worry about Social Security—or any other crumbling government promise—because you won’t be depending on it.
You can read more from Joe Jarvis at The Daily Bell.