U.S. life expectancy declined by 2 years in 2020 largest drop of high income countries.

I think you are overstating the tax penalty. For someone age 72 with a $1,000,000 401k balance, the RMD factor is 27.5, which amounts to 3.65% of the principal. Tax is only paid on this 3.65%, which counts as income. Depending on your tax bracket, and other retirement income, you could pay a max of 37% of this as tax, or much less than that.

https://www.investor.gov/financial-...tors/required-minimum-distribution-calculator

The disadvantage of the RMDs are that the withdrawal is forced, whether you need the money or not. However, if you withdraw from a 401k, you can put the amount that is not needed for spending into a Roth IRA, for which there are no RMDs and the withdrawals are not taxed. In essence, this is a forced IRA rollover.

I agree, however, that well-off retirees (or, mostly their heirs) would benefit from the propose rule change of 75 minimum age for RMDs. For most people, this is most likely a non-issue.

 

What are we backing ?

 

We? I'm referring to the DNC folks on the hill and their fear mongering over COVID and propaganda efforts! Fauci/WHO didn't come cheap

 

Danm Now Joe making it so we all die earlier. What a disaster.

 

Agreed .. was a full on state sponsored propaganda effort .. of the most insidious kind. Fauci is so conflicted up the yang ... not even funny .. Pfizer dictating our HC policy.

 

Yuppers..

 

Got that right .. That Jab kills healthy people - a risk of harm far greater that the risk of harm from Covid -- never mind Omicron which has mutated into something no more nasty han a normal flue.

 

This is only the beginning. Food giants and big pharma regulate our government and have secured a steady stream of wealth from tax payers. When you pay your taxes, just know that a portion is being used to make people sick.

 

Giftedone. Where the hell do you come up with that crap,your chances of dying are FAR HIGHER if you have NOT BEEN VACCINATED AGAINST COVID.