The Phaserl


The Catastrophic Law That Mandates A Stock Market Crash

from GoldSilver (w/ Mike Maloney):

Mike Maloney uncovers the disaster-in-waiting that is the ERISA Act. It’s a law forcing the oldest of the baby boomer generation to start selling stocks today. This is the beginning of a mass exodus from the stock market.

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1 comment to The Catastrophic Law That Mandates A Stock Market Crash

  • JMiller

    Mike Maloney is not correct. You are not required to start taking distributions from your IRA at age 70 1/2. Your first required minimum distribution (RMD) must be taken by April 1 of the year after you turn 70½. The required minimum is based on your life expectancy which means the amount is only a small percentage of your total IRAs. Also Mike Maloney says that when you withdrawal money out of your IRA you have to pay tax on it. That is not necessarily the case. In some cases it all depends on how much the amount is. My father has taken minimum distributions from his IRA for the last 6 years and has not owed any tax on the amounts. As far as a stock market crash happening because baby boomers are forced after age 70 1/2 to take minimum distributions is unlikely. Only about 33% of people even have an IRA. Over half of the money in IRAs held by older persons are not invested in the stock market plus you are not forced to take the IRA distribution from the stock portion of your IRA but can be taken from any asset you want. From bonds, from money markets etc…So no, the ERISA Act that requires an annual minimum distribution from your IRA after you turn 70 1/2 does not mandate a stock market crash.

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