This 'Ticking Time Bomb' Could Cost Americans Trillions
There is a “ticking time bomb” coming for many Americans’ retirement nest eggs—but there’s still plenty of time to defuse it before it wreaks havoc on the country’s cumulative retirement savings.
The time bomb is in the form of the huge tax bill many savers will owe when they start taking distributions from widely-used tax-deferred retirement accounts like 401(k)s and traditional IRAs—and that bill is only likely to increase, says IRA expert Ed Slott.
Original reporting by Alicia Adamczyk
The time bomb is in the form of the huge tax bill many savers will owe when they start taking distributions from widely-used tax-deferred retirement accounts like 401(k)s and traditional IRAs—and that bill is only likely to increase, says IRA expert Ed Slott.
Original reporting by Alicia Adamczyk
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