Padilla Financial Group LLC

Padilla Financial Group LLC Certified Retirement Financial Advisor - Retirement financial planning services and life insurance p

06/19/2026

Here is a tax saving tip when your parent's own their home and want to pass it onto their kids:

Never let your parents gift you their house. Do what wealthy people do.

1. I'm retiring and I'm passing the house onto my child.

2. Don't put it in their name.

3. If you do, they will owe thousands in taxes!

Since the parent's owned the house for many years, 20-30+ years, it has appreciated greatly in value.

Which means if you transfer the property into the child's name today, they'll be on the hook for paying the capital gains tax when it is sold.

The taxes cannot be that much since you bought the property for example $100,000 and now it's valued at $600,000.

If you transferred the property into their name and sold it today, they'd owe approximately $135,000 in capital gains tax.

That's quite a bit.

So what should you do instead?

You should place the property into a living trust and name the child as the beneficiary.

So when you pass away, they can inherit the property tax-free through a stepped-up cost basis. (Speak to a financial advisor and lawyer.

Okay, so how do I place my house in a living trust?

A. Get a copy of your current deed.

B. Then you'll prepare a copy of the new deed.

C. A lawyer will use a quitclaim deed or a grant deed.

D. On that form, the grantor will be the parent and the grantee will be the living trust.

E. After you finish the form, you'll want to sign and date it in front of a notary.

Then take it to your local land records office and file it there.

And once that's complete, your home will be in the trust.

Where did you learn this?

I spoke to my financial advisor, John Padilla, CRFA, CLTC, MMC
609 577 5358.

05/28/2026

"Social Security benefits are tax-free."

This is one of the most damaging misconceptions I hear. In reality, up to 85% of your Social Security benefits can be taxed if your income exceeds $44,000 as a married couple.

That means even modest IRA withdrawals can push you into the “tax torpedo,” where an extra $1,000 withdrawal can result in $1,850 of taxable income, effectively doubling your tax rate from 22% to over 40.7%.

It’s a hidden trap that catches unsuspecting retirees every year.

I’ve seen couples on fixed incomes unintentionally trigger IRMAA surcharges just from one unexpected capital gain or a poorly timed IRA withdrawal. Do you even know what IRMAA is?

The result?

A Medicare Part B premium jump from $174.70 to $244.60 per month — adding over $1,680 in annual healthcare costs.

These are preventable mistakes that compound fast, especially in retirement’s most vulnerable years.

Just this week I told several long time clients that they should not or can not take social security now. Many thought they could stop working and automatically collect social security. This is not a good idea for most people.

Are you thinking of taking social security? Are you aware you could be taxed on most of it?

Give me a call and I'll let you know the do's and don'ts BEFORE you make a big a costly mistake.

609 577 5358 is my direct number or [email protected]
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05/07/2026

Thank you Mr Secretary!
Concerning Social Security payments, my contributions were made for over 40 years on every salary I received. Those jobs may not have always been the work I wanted to be doing at the time, BUT I always had a job. The Social Security check is now (or soon will be) referred to as a "Federal Benefit Payment?" I'll be part of the one percent to forward this.

I am forwarding it because it touches a nerve in me, and I hope it will in you. Please keep passing it on until everyone in our country has read it. The government is now referring to our Social Security checks as a "Federal Benefit Payment." This isn't a benefit. It is our money paid out of our earned income! Not only did we all contribute to Social Security but our employers did too. It totaled 15% of our income before taxes.

If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security. If you calculate the future value of your monthly investment in social security ($375/month, including both you and your employers contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved! This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month.

That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the Social Security Administration. (Google it – it’s a fact). This doesn't include the 4% of people 34-65 who worked & contributed but passed away before they were ever able to draw payments.
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.

Instead, the folks in Washington pulled off a bigger "Ponzi scheme" than Bernie Madoff ever did. They took our money and used it elsewhere. They forgot (oh yes, they knew) that it was OUR money they were taking. They didn't have a referendum to ask us if we wanted to lend the money to them. And they didn't pay interest on the debt they assumed. And recently they've told us that the money won't support us for very much longer.

But is it our fault they misused our investments? And now, to add insult to injury, they're calling it a "benefit", as if we never worked to earn every penny of it.

Just because they borrowed the money doesn't mean that our investments were a charity!

Let's take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government.

Find a way to keep Social Security and Medicare going for the sake of that 92% of our population who need it. Then call it what it is: Our Earned Retirement Income.

99% of people won't Cut and Paste this to their timelines. Will you?

Please, for the sake of our country, Copy & Paste. It's important. Then type Done!

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