You know, people like to say, “Focus on the things you can control.” I like that sentiment a lot because you’d drive yourself crazy worrying about all of things that impact our lives on a daily basis that we’re not in control of.
Charles R. Swindoll had a great quote about attitude and to paraphrase part of his quote, “Life is 10% what happens to me and 90% of how I react to it.”
I bring all of this up because there are policy changes in Washington that will have a major impact on your retirement plans. By the way, none of this is meant as a political statement but rather a look at how policy and changes continue to happen and have impacts that most of the general public really isn’t aware of.
Did you know the 2014 US Federal Tax Code used by the IRS was 73,954 pages long? Think about this for a moment. If you devoted yourself to reading and understanding 100 pages of the Tax Code everyday it would take you a little over the next 2 years to get through it. Oh, and by the way, by the time you finished it 2 years later, there would have been two more years of changes and additions. Get the point?
There’s just no way the general public understands how all of the government’s policy changes impacts their finances and retirement planning.
Getting back to the beginning, do you control all of the policies from Washington that could potentially impact you? Of course not, which brings me to restate the paraphrased quote by Charles R. Swindoll, how are you reacting to it?
So, let’s make sure we’re all taking control of the things we can control, and instead of getting frustrated by all of the changes, just remember Mr. Swindoll’s quote and if you react by taking a proactive approach you’ll feel more in control.
