Posts Tagged ‘IRA’

Now He’s After Your 401(k)

The White House pulls a switcheroo on retirement savings accounts.

How many times have you read financial-advice stories lecturing you to max-out on your IRA, save as much as you can in your 401(k), and even pay taxes now to change your regular IRA into a Roth IRA that will be tax-free until you die?

Well, be careful how much you save.

Read more at Wall Street Journal

Here Comes Obama’s Raid On YOUR Retirement

Yeah, it’s going to do you a lot of good….

President Obama’s budget, to be released next week, will limit how much wealthy individuals – like Mitt Romney – can keep in IRAs and other retirement accounts.

Under the plan, a taxpayer’s tax-preferred retirement account, like an IRA, could not finance more than $205,000 per year of retirement – or right around $3 million this year.

Read more by Karl Denninger at market-ticker.org

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