General Discussion
In reply to the discussion: I was at a small dinner party the other night. Towards the end of the evening a conversation [View all]still_one
(92,251 posts)further.
There is no question that the policies of this administration have created the downturn we are in. Uncertainty is driving it, and there is good reason for that uncertainty.
The suppossed tax bill is not going to be as beneficial for a lot of people as they have been pumping. In fact, people who had itemized deductions will find that because the standard deduction has been increased, they can't itemize deductions anymore, and with the removal of the personal exemption, plus the limits placed on those who can itemized deductions on items that will hurt those in the blue states the most, will leave that group of folks with very little tax benefit, and very likely a loss.
Even those who don't itemize deductions, will find that the removal of the personal exemption is just a smoke and mirror con game that was perpetrated on most of the public, and the tax gain they do realize will be offset by the cost of healthcare insurance premiums, and cost of food and materials aggravated by his wonderful trade war
For those that are the right age, a Roth IRA, or conversion of part of a traditional IRA to a Roth is an ideal vehicle.
For MRD, I would hope some of that distribution can be reinvested into quality interest paying bonds or bond funds, along with quality dividend paying stock or stock funds, and that one is able to wait out when they recocver.
Problem is that a lot of folks don't have the luxury to "wait it out", because they need the money for living expenses, and unfortunately, as long as the policies, both economic and otherwise continue in the direction they are going, any recovery may take some time to occur