Tag Archives: Backfire

New retirement withdrawal rule could backfire in costly way

New retirement withdrawal rule could backfire in costly way

A new law increasing the age you must withdraw from your retirement accounts may come with some unexpected and expensive consequences. President Biden inked in December pushes the age that retirees must start taking required minimum distributions, or RMDs, from IRAs, 401(k)s, and 403(b) plans, to 73 this year, up from 72. That will bump up higher to age 75 in 2033. The delay allows investments to grow tax-free even longer and offers a window to sock more tax-deferred dollars away. But… Source link

Read More »

Will new Jimmy Garoppolo’s new deal with 49ers backfire for Trey Lance?

Will new Jimmy Garoppolo’s new deal with 49ers backfire for Trey Lance?

2022 was supposed to mark the official coming out party for San Francisco 49ers quarterback Trey Lance. It still may be. But Monday’s deal to retain Jimmy Garoppolo pumps the brakes on his coronation. After failed efforts to offload the veteran quarterback via trade this offseason, the 49ers reportedly agreed to a one-year, $6.5 million guaranteed contract with Garoppolo on Monday that includes an additional $9.5 million in bonuses largely attached to playing time. The deal arrived hours… Source link

Read More »

China Is Pariah for Global Investors as Xi’s Policies Backfire

China Is Pariah for Global Investors as Xi’s Policies Backfire

(Bloomberg) — After drawing foreign capital into China’s markets for years, President Xi Jinping is now facing the risk of a nasty period of financial de-globalization. Investors point to one main reason why: Xi’s own policies. Most Read from Bloomberg Money managers once enticed by China’s juicy yields and huge tech companies now say reasons to avoid the country outweigh incentives to buy. They cite everything from unpredictable regulatory campaigns to economic damage caused by strict… Source link

Read More »