Sunday, November 30, 2008
Know the law before pulling from retirement accounts
Because stock prices have plunged, your account is probably worth much less than at the end of last year. It's a good article regarding withdrawal.
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Since this money goes into the retirement account pre-tax, the government has mandatory withdrawals beginning at age 70.5; the government wants it's tax dollars.
The calculation however, is certainly interesting, I was unaware that it worked this way. The rules should be revised to accomodate our retirees.
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