A reminder for our retired friends and clients age 70 1/2 or older. Once again in 2010 the federal government will require minimum distributions from retirement plans in an effort to collect tax revenues from those of you who saved for your golden years. We will help you make informed decisions as to when, how, and from which accounts to make your withdrawals. For our friends and clients still in the workforce we encourage the use of ROTH 401(k)'s and ROTH IRA's to help reduce the tax burden you will face upon reaching that wonderful age. As the federal government continues to thirst for revenue we encourage the use of as many retirement savings plans as possible and as tax efficiently as possible. It is never too late to start saving for retirement.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).