Personal Finance and Investing

progree

(12,103 posts)

2. When I take an RMD, I just transfer it to another "market based so called savings plan"

Sat Dec 12, 2020, 02:42 PM

Dec 2020

though I consider both of them to be quite real. (Yes, and I have to pay taxes on the RMD withdrawal/transfer). I never consider taking an RMD to be some kind of mandate to go spend it.

This Legislation is all about you and I not taking our money out of the Markets . All those market based so called savings plans total in the Trillions.

from the OP:

The argument for an age restriction – which is noted in an official summary of the bill – is “to ensure that individuals spend their retirement savings during their lifetime and not use their retirement plans for estate planning purposes to transfer wealth to beneficiaries.”

Nope, it doesn't ensure that I spend it in my lifetime. I wonder what complete and total idiot wrote that into the bill. A requirement to take RMDs does not impact my spending in the least, at least not in the short-term (though my net worth is reduced by paying the taxes on the RMD withdrawal, so ultimately it could actually reduce my spending over time).

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Highlight:

Congress looking to change or even abolish this key 401(k) provision [View all] question everything Dec 2020 OP

As a Broker Wellstone ruled Dec 2020 #1

When I take an RMD, I just transfer it to another "market based so called savings plan" progree Dec 2020 #2

First of the RMD Wellstone ruled Dec 2020 #3

I think its all about increasing the money doing "Market Investing" progree Dec 2020 #4

Do recall what Wellstone ruled Dec 2020 #5

I didn't realize that companies were required to offer a defined benefit plan progree Dec 2020 #6

Like most so called plans Wellstone ruled Dec 2020 #7

Companies were never required to offer a defined benefit plan. PoindexterOglethorpe Dec 2020 #8