Our daily roundup of retirement news your clients may be thinking about.
Protect your retirement from the government's whims Government policies, particularly changes to tax rates, can have a significant impact on retirement savings that your clients need to be aware of. For instance, the fiscal 2016 budget includes proposals to limit the value of itemized tax deductions for IRAs and 401(k)s and other expenses to 28% and applying the required minimum withdrawals for non-Roth IRAs to Roth IRAs, according to this article on CNNMoney. Investors are advised to protect their retirement accounts from unfavorable tax changes by spreading their savings around so their assets will receive different tax treatment and by developing a strategy that will reduce their taxes on withdrawals from their retirement accounts. --CNNMoney
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