Obama’s Budget Would Cap Retirement Accounts
So now we may have a reason to not save/invest as much as possible for retirement. But it's only a "plan" at this time. Stay tuned. Try to keep your stash under $3M for now.
Obama's Budget Would Cap Romney-Sized Retirement Accounts
Obama’s budget plan, to be unveiled April 10, would prohibit taxpayers from accumulating more than $3 million in an individual retirement account. That proposal would generate $9 billion in revenue for the Treasury over the next decade, according to a White House statement released today.
“Under current rules, some wealthy individuals are able to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving,” the statement said.
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.