Left ReelingLeft Reeling
Economic uncertainties and the full weight of a bear market have many Americans reeling. The squeeze is on for workers: They can't borrow against their homes (that is, those who still have homes). Their credit card limits are being lowered. Yet, the need to save aggressively for retirement has never been greater especially for baby boomers. Here are the high and low points of 2008 regarding retirement
Michael J. Jones
Economic uncertainties and the full weight of a bear market have many Americans reeling. The squeeze is on for workers: They can't borrow against their homes (that is, those who still have homes). Their credit card limits are being lowered. Yet, the need to save aggressively for retirement has never been greater — especially for baby boomers.
Here are the high and low points of 2008 regarding retirement accounts. Let's start with the bad news and get it over with.
Draconian
As monstrous markets ate away at retirement accounts, the Treasury Inspector General for Tax Administration (TIGTA) recommended ways to better police required minimum distributions (RMDs) and to increase collections of the 50 percent excise tax penalties ...
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