There are two serious risks to your US retirement plan, says Erika Nolan in The Sovereign Society.

First, the average American is not saving enough for retirement, especially with inflation on the rise. Second, pension schemes are coming under increasing scrutiny from lawyers and IRS auditors.

Add the grim outlook for the US dollar into the equation, and it becomes a no-brainer: You should move your retirement plan to another country before its too late…

One way to beat the restrictive US retirement systems of IRAs, 401Ks and other plans is to move your retirement plan offshore.

It’s a little-known approach, but it can spew out huge profits. An offshore retirement plan also demands fewer taxes and plays a greater role in producing and managing your future income.

You’re probably scratching your head right now. I don’t blame you. I did that too in the beginning. I won’t bore you with the details of the Internal Revenue Code that can give your retirement plan some very attractive advantages. Rather, I’ll share with you the threats and challenges you potentially face as you approach retirement and the solutions open to you.

The harsh truth is there are two very real threats to your retirement account.

The Survey Says: “Don’t Even THINK of Retiring Now!”

The first is that you won’t have nearly enough income to sustain yourself in your post-career years.

Surveys repeatedly show that we are NOT financially ready to retire. In a country with a negative personal savings rate, millions of so-called future retirees are simply not planning for the future…especially when US$4 gas, rising food costs, and a flat-out credit crisis are eating away at their savings.

Second, your retirement assets are exposed to several types of risk. Over the past few years, all types of retirement plans have come under attack in the courts. Certain lawyers have made careers out of going after retirement plans just like yours.

In fact, one very well-known attorney in the asset protection field said, “The successful attack on retirement plans is one of the fastest-growing areas of the legal profession.”

Beware of Uncle Sam and His IRS Agents

And it’s not just lawyers you should be concerned with. The IRS continues to take more than their fair share out of retirement plans if you make a “mistake” in reporting.

Our friend and expert retirement professional, Larry Grossman told us a story about a small business owner he knows. This small business owner had the misfortune to have the IRS audit his retirement plan. The IRS agents looked at all his investments over the years and all his paperwork.

The IRS said in effect: “Congratulations. Your investments have been perfectly in line with the rules.” But then the IRS agent asked for a piece of paper dating back to 1981 - a plan amendment required by a 1981 law. The business owner had no idea what they were talking about. (Imagine if the IRS asked you for a paper that was over 25 years old!)

So because of a missing piece of paper, the IRS ruled the business owner’s plan was disqualified and was now fully taxable. The plan totaled US$145,000 and the IRS wanted to take US$60,000 penalty! The owner was forced to settle with the IRS for US$10,000 and got stuck with US$13,000 in legal fees.

As you can see, it’s sink or swim when it comes to planning your retirement.

And What About the U.S. Dollar?

You may think you have plenty stashed away for a post-career rainy day, but if your assets are denominated in U.S. dollars then your retirement plan is already in trouble. As I’m sure you know, the U.S. dollar’s long-term outlook is pretty grim. If the U.S. dollar continues to plummet, then the value of your retirement plan will plummet right along with it.

That only increases your chances of running out of retirement savings half way through your golden years.

Fortunately for you, there are ways to maximize the potential benefits of your retirement plan to ensure these threats don’t affect the quality of the rest of your life.

If you seek positive investment returns, financial privacy, and a secure and prosperous retirement, it’s time to move your retirement plan offshore.

Source: Your IRA is More Flexible Than You Ever Thought Possible