I could not find any maximum duration for MTing a 401K or IRA. I've been taking RMDs for 11 years now. Can you post a reference?
That assumes 2 things. 1 you are still alive and 2 the government hadn't "confiscated" all of, half of or maybe just 1/3 of your money.
You pay your yearly rent and hope it doesn't get beyond your ability TOO pay. If they come for it for any other reason, you shoot the first one, and as many of the ones that follow as you can before they kill you. That is something the "you-will-own-nothing-by-2030" idiots doesn't seem to get....that many of us own a means of resisting.
Oh yeah and they definitely want the money in your 401k, not that it will be directly be transferred to them, they just don't want you to have it. To the "you will own nothing people" they stayed high every chance they could get, never held down a job, so to them because you went to work almost every day and saved money and are doing good, you should be forced into the same situation they put them selves in. They like equality of outcome.
Ottawa eyes 'pre-loaded stimulus' in Canadians' savings accounts Ottawa eyes 'pre-loaded stimulus' in Canadians' savings accounts - BNN Bloomberg closer than you think! comments - Referring to Canadian's hard-fought savings as "preloaded stimulus" during a time when people have an uncertain economic future is almost comically tone deaf. Hoping people spend money is fine, but I would be worried how they try to encourage it. Nothing alarming yet but I would watch for future talking points about taxation of wealth or anything that would ultimately penalize savings as oppose to encourage spending. and a preview of the crap about to hit the US - now being modeled in Canukastan Fiscal update 2020: Everything you need to know, from childcare to home offices — and trees | National Post
Too late for them here. I cashed in my IRA (which was in mutual funds) in 2005-06, paid the taxes/penalty, and bought bags of 90% silver with it.....at around $6/oz. I know where it is, and they don't.
I remember the saying "power of the purse" the only power we may have left (maybe) is if enough of the 70 + million who did not vote for socialism in mass (a million or more)refuse to pay federal taxes. Unfortunately there was a time when the government feared "we the people" now it is "we the people" who fear the government. I have a new found respect for my ancestor who fought in the Revolution
If the government is illegitimate, then I’d think any proclamation they make (like pay taxes) would also be illegitimate. If the 70-80 million who voted for Trump refused to pay taxes there might just be a crisis that the Dems couldn’t overcome. They could try printing funny money, but they do that now so I’d think more worthless money would just make things worse. Seizing property, how? If the military isn’t totally on your side you might have issues. Things could certainly get sporty in 2021.
Lesson of the past apply today Bonus Army - Wikipedia At 1:40 pm MacArthur ordered General Perry Miles to assemble troops on the Ellipse immediately south of the White House. Within the hour the 3rd Cavalry led by Patton, then a Major, crossed the Memorial Bridge, with the 12th Infantry arriving by steamer about an hour later. At 4 pm Miles told MacArthur that the troops were ready, and MacArthur (like Eisenhower, by now in service uniform), said that Hoover wanted him "on hand" to "take the rap if . and then After the cavalry charged, the infantry, with fixed bayonets and tear gas (adamsite, an arsenical vomiting agent) entered the camps, evicting veterans, families, and camp followers. The veterans fled across the Anacostia River to their largest camp, and Hoover ordered the assault stopped. MacArthur chose to ignore the president and ordered a new attack, claiming that the Bonus March was an attempt to overthrow the US government. 55 veterans were injured and 135 arrested. A veteran's wife miscarried. When 12-week-old Bernard Myers died in the hospital after being caught in the tear gas attack, a government investigation reported he died of enteritis, and a hospital spokesman said the tear gas "didn't do it any good. People remember Hooverville (sorta) but were never taught/forget that Hoover turned the Army loose on civilians. Don't think it can't happen again, it has.... several times in your lifetime...
My great-grandfather did that after losing money in a bank panic in the 1890's. Put everything in gold double eagles and buried it on the farm, where only he knew where it was. Then he died suddenly. Never told his wife the location. Family lost the farm. Noody knows if the gold was ever recovered.
An IRA must be cleaned out in under 10 years after you die. IF the IRA was properly passed to the heir, that 10 years does not apply. If you are a custodian rather than an heir, then the 10 years applies. For YOUR IRA, there;s no specified end date so long as you aren't pushing up daisies. Now, go check with your accountant, 'cause I have made mistakes in the past. I don't make many, but those I do make are HUGE. Davy, you can clean it out as a lump and establish your own account. Think Roth. Thanks to the SECURE Act, in most cases their IRAs will be fully distributed and taxed within 10 years after they and their spouses pass away. There's little need for RMDs now that the SECURE Act's 10-year rule is in place.
