That's so ridiculous. Go up the chain and find out where on earth they got that policy. They could be costing people a lot of money.
More Quotes from Ed Slott:
You've got to watch your income this year like no other year, ... Your Tax Questions Answered.Ed Slott
If you've planned a late wedding it may pay to put it off a few days into 2000 because the savings over (both) your lifetimes may pay for a few weddings for the kids.
Ed Slott
You used to think that you couldn't afford to make a mistake, but now it's really true. You need a ruling if you make a mistake and it can be corrected, but now it's just more important that you do things right, or that your adviser does everything right.
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A defined-benefit Keogh would allow you to sock away a lot more, with the amount you contribute depending on your age and compensation. It makes the most sense for someone older making a significant amount of money.
Ed Slott
So a working couple can contribute a lot more with a Roth 401(k). Each spouse can put 15,000 into a Roth 401(k). It's an opportunity to put a lot of money away that you'll never again have to share with the government.
Ed Slott
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Based on Topics: Money & Wealth QuotesI really wanted it to be organic and coming from my heart. So, I think maybe the initial thought of wanting to go in that direction, I had to wait until things happened in our world and in our country that fired me up enough where the words came out organically.
Joan Jett
The most learned are often the most narrow minded.
William Hazlitt
Once the object has been constructed, I have a tendency to discover in it, transformed and displaced, images, impressions, facts which have deeply moved me.
Alberto Giacometti