Good Financial News for Older Retirees

[Carl Shawver]

Here's a bit of good financial news for retirees who have reached the age where they are required to take a Minimum Annual Distribution from their IRA - and pay taxes on it; congress has suspended the requirement for 2009.

"Congress has approved legislation that will give relief to people over age 70 whose retirement portfolios have been hammered by the bear market. The bill will suspend the minimum-distribution rules that force withdrawals from 401(k) plans in 2009. The change doesn’t affect 2008 distributions, although there’s a chance the U.S. Treasury may yet take action on that front."

Read the full article at http://retirementrevised.com/money/m...ended-for-2009

That's the good news. The bad news is Obama is the president come January and we are gonna get screwed. :shock:

Fact is most deputies will be dead before age 70. Just the facts Ma'am.

Fact is most deputies will be dead before age 70. Just the facts Ma'am.

It is entirely possible that the current health emphasis of the office, including abstinence from tobacco products and emphasis on physical fitness, will greatly extend the life expectancy of our deputies.

Wow! :shock: Something good coming out of all that stuff that so many have been whining about. What a surprise!!! 8)

Besides which, what if YOU turn out to be one of the minority that lives well beyond age 70? Are you really going to ignore financial planning for your retirement years based on the expectation that you will die young? Even more to the point - if you think being a deputy dooms you to die young aren't you stupid for not changing career fields? :snicker:

Quit being so negative when someone posts some good news. :cop:

Here some more good news to protect your self. Get out of debt ASAP. Get rid of your mortgage for better cash flow.

I just bought a Special Report on the internet that taught
me exactly how to pay-off my 30 year mortgage many, many
years earlier -- WITHOUT CHANGING MY CURRENT SPENDING!!

By paying off my my mortgage years earlier, I'm going to keep
$10,000's of interest in my pocket.

I just thought you'd like to check it out for yourself.

Please take a look at: http://<font color="#0000FF">http://...=991078</font>

That website explains it all!

Is smoking bad for you. Yes any moron knows this. They also know that 1.2 per 1000 is not enough and we have less then that and loosing more every day. I heard besides what are retiring and leaving, that the ones we got from Pinellas are going back. So we will be even shorter. Oh and with the no overtime rule you will really be earning you money for 1/2 pay.

Is smoking bad for you. Yes any moron knows this. They also know that 1.2 per 1000 is not enough and we have less then that and loosing more every day. I heard besides what are retiring and leaving, that the ones we got from Pinellas are going back. So we will be even shorter. Oh and with the no overtime rule you will really be earning you money for 1/2 pay.

You have wandered far afield from the point of the original post which was good news for current retirees of a certain age regarding minimum distributions from their tax deferred accounts for this year only.

The post had nothing to do with future retirees, how long you will live after retiring or the LEO to citizen ratio in the county.

Try to focus.

:mrgreen:

[Carl Shawver]

The original post of this thread is now obsolete.

It applied only to 2009.

Retirees are now back under the requirement to make minimum withdrawals from their IRAs each year.