No. of Recommendations: 3
Congress designed IRAs as "Individual Retirement Accounts", not as tax-preferred wealth transfer schemes. Congress expected you to spend most of the IRA money while you're still alive.

Congress' actions is filled with unintended consequences. Once in a while it's nice to have it be a positive consequence. Bottom line is they set the rules and then when our money was held captive, they changed the rules.

I'm sure that without kids you don't care about the changes and are fine with the Fed's tax grab. We always intended on using it as an estate plan, making sure our kids would never be dependent on the gov't for their care. AND we were just following the rules that anyone could have also benefited from.

Unless it's a benefit that the fat cat house and congress can benefit from, don't count on it staying long term. Medicare for all? Not going to happen, unless of course once again the congress and house are exempt from the law.

putting in an offer on another rental property today, figuring step up in basis is going to be one of the last perks to go by the wayside since fat cats benefit from it greatly
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