Men’s Health: The Wisemen Retreat

The Wisemen Retreat

About The Wisemen Project

The Wisemen Project is a men’s holistic health group that melds proven, ancient techniques of movement, breath work and meditation with cutting edge scientific research. The group was formed as a powerful antidote to the seemingly endless noise, stress, disease and disconnection in our modern world.

The primary pillars center around:

  • Fuel: Our food and what we “feed” our brains.
  • Mind: Cultivating resiliency and proper brain function.
  • Move: Movement to heal the mind, body and soul.
  • Rest: Dialing in the proper amount, type, and frequency of rest to allow mind and body to recover and grow.
  •  Social: Community is interwoven within the fibers of our ancestral DNA, helps to reduce stress/anxiety, improve mental health, and increase our lifespan.
  • Wealth: Perspective, action, discipline, and reflection to cultivate an abundance mindset.

About The Retreat:

Tucked in the northern-most terrain of the Pocono Mountains, situated a couple of hours away from NYC and Philadelphia, the retreat will be hosted at The Barn at Boyd’s Mills.

The retreat aims to be an opportunity to disconnect from modern stressors and practice proven principles to optimize your health.

Activities:

  • Exercise, functional movement
  • Daily hikes
  • Deep & extensive breath work
  • Cold baths & fire
  • Grounding/earthing
  • Stress reduction modalities
  • Qigong/meditation
  • Nourishing and sustainable foods, chef prepared meals
  • Human connection/reconnection

Why wHealth Advisors is sharing:

“It is health that is real wealth and not pieces of gold and silver.”

– Mahatma Ghandi

Our long-term goals, visions, and portfolios are more likely to be derailed if we neglect our health. Health itself is a priceless wealth and we strongly support investing in it while you can.

As someone who is personally passionate about men’s health and follows evidence-based protocols for personal health optimization, I (Dennis) am very much looking forward to the activities and connection that this retreat is sure to offer.

Please feel free to pass this info along to anyone you think could benefit. There are 16 seats available and the early bird discount ends in December.

SIGN UP:

The early bird discount ends on 12/1/2021 – sign up now while seats are available.

Disclaimer:

There is no financial incentive or underlying remuneration for wHealth Advisors in promoting this event.

 

 Federal Tax Proposal – A Summary

TAX

The Biden administration recently announced a number of tax proposals to fund new government investments. The current version may not be the final form, but many of its features are likely to become law. Below is a summary of what is most likely to impact families.

Income Tax Rates

  • Increase in the marginal tax rate: The top marginal tax rate would increase from 37% to 39.6% for income greater than $400,000 if you file as single and $450,000 if filed as married filing jointly (MFJ). These changes would go into effect for the 2022 tax year.

 

  • Increase in the top long-term capital gains rate: The highest marginal long-term capital gains rate would increase from 20% to 25% for incomes higher than $400,000 (single) or $450,000 (married filing jointly). The change in rate to 25% would be effective as of September 13, 2021 unless a sale was already under contract prior to that date.

 

  • S Corporations: Business profits from S corporations will be subject to a 3.8% surtax for taxpayers with Modified Adjusted Gross Income (MAGI) above $400,000 (single) and $500,000 (MFJ).

 

  • Section 199A QBI Deduction: To be phased out for those earning over $400,000 (single) or $500,000 (MFJ).

 

  • Additional 3% surtax on ultra-high income: An additional flat tax of 3% would be applied on any MAGI above $2,500,000 for individuals filing as married filing separately or above $5,000,000 for MFJ or single.

Retirement Strategies and Plans

  • Roth conversions will no longer be allowed for high income individuals:
    • New rules would prohibit all Roth conversions for taxpayers in the highest ordinary income tax bracket (39.6%) beginning January 1, 2032.
    • Roth conversions of after-tax funds will be prohibited for ALL taxpayers beginning January 1, 2022. This would eliminate backdoor Roth as a planning strategy.

 

  • Restricts contributions to IRAs or Roth IRAs for high net worth individuals if:
    • Taxable income is greater than $400,000 (single) or $450,000 (MFJ) AND the total value of IRA and defined contribution plans exceed $10,000,000.
    • The limitation does not apply to contributions of employer plans such as a 401(k), SEP IRA, or pension plan.

 

  • Change in Required Minimum Distributions (RMD) for individuals whose aggregate retirement account size exceeds $10,000,000:
    • Imposes RMDs on large retirement account balances if:
      • Taxable income is greater than $400,000 (single) or $450,000 (MFJ), AND
      • The total value of IRA and defined contribution plans exceed $10,000,000

 

  • If combined balance is between $10,000,000 and $20,000,000, the owner must distribute 50% of the amount of the account balances in excess of $10,000,000.
  • If the balance is greater than $20,000,000, the RMD would be 100% in excess of $20,000,000, plus 50% of any amount over $10,000,000.

Additional Changes

  • Wash Sale rule: This will be expanded to include cryptocurrency and other digital assets, commodities, and foreign currencies.

 

  • Estate Tax Exemption would be reduced: Would revert back to $5,850,000 per person and $11,700,000 per couple. This was scheduled to happen in 2026, but under the new proposal, it would get accelerated to 2022.

 

  • Increased child tax credit and monthly advance payment extended until 2025: Monthly advance payments of $250 per qualifying child aged 6-17 and $300 per child below the age of 6 would continue.

 

  • Assets held within grantor trusts may become part of taxable estate: This would potentially eliminate the benefit of certain estate planning techniques, namely Irrevocable Life Insurance Trusts (ILITs).