It was rough in the stock market over the last week. On Monday, February 6th, the Dow Jones Average fell 1,100 points. That’s a lot of points, but it’s not the whole story. While the media draws you in with a bold scary headline they did not explain or support why the market dropped so suddenly.
Allow me to share with you a story from a long time ago…
In the late 1980’s after graduating college, I moved into an apartment that was rather basic . . .
IRAs and 401(k)s today are the main source of retirement funds for new retirees. These have replaced the defined benefit pension plans that your parents and grandparents relied on upon to fund their retirements. Unfortunately, many avid savers in IRAs and 401(k) plans may not realize they are setting themselves up to pay huge tax liabilities when they are forced to take mandatory withdrawals when they turn 70 1/2. Even with the lower tax rates enacted in December 2017, some married retirees . . .