Treasury: Seniors Must Take Retirement Account Withdrawals This Year

mandatory IRA withdrawal

AS my IRA shrank I saw how devastated the account would be if I had to make the usual annual withdrawal. My congressman was most favorable to a suspension but it will be a year late, and my already pitiful IRA is much worse off. why wasn't 2008 included? congress will have many questions to answer!

Miriam Null of CT @ Jan 10, 2009 08:20:49 AM

Congress and Treasury Should Take Blame

The broad stock index S & P 500 has been cut in half since the end of 2007. To force seniors to take MRD in 2008 based on valuations at the end of 2007 is like a double penalty. Both congress and the treasury should have acted to prevent this double hit on senior citizens that have worked hard to save some wealth for retirement years. The melt down in equities is partly due to government policy (cheap money) and lack of regulations and for the government to not look out for senior citizens welfare is really bad.

James Farley of AZ @ Dec 29, 2008 14:50:12 PM

Texas - Place to Retire

We moved to the Houston area from New Jersey last year when my husband retired. We got more for our buck house-wise and the income tax is gone, but property taxes are basically the same and no one tells you about the horrible flood insurance required until you go to get a mortgage.

Hedy Vahabzadeh of TX @ Dec 22, 2008 09:36:58 AM