Ted Steier

Love your show! I would like to birng up something you could help me and many others with! I have emailed both the Senators and Representatives that represent me about what I know is going to cause a big problem for older retirees, like myself – but have received no response. I am very concerned that the Required Distributions from my IRA are going destroy my IRA account. Because at the end of 2019 the stock market was very high, my Required Minimum Distributions are much bigger than my account can afford to pay out now without devastating my future retirement years. My investments are in mutual funds so when the distributions have to go out they liquidate enough shares to make to distributions. With my account down over 40% from what it ended the year each payment will be more than the account can reasonably pay out and still offer me future years of income. My wife and I can get by with a smaller distribution that might somewhat safeguard the future certainty of our retirement years. These distributions that have to be made also put somewhat of a strain on the Stock Market because I am one of literally millions of retirees that have to take distributions so the trustees of the IRA’s have no option except to liquidate shares at prices that are already low. I have been told that a Minimum Distribution Requirement was once before given a holiday and it should be done again. You have a national audience, one of which I am a consistant watcher, so I know if you would bring this up the message would get to the President and members of Congress. I sincerely hope that you will do this and I would really appreciate knowing that you even read this and that I would get some sort of reply unlike my elected representatives, Sincerely, Ted Steier