No. of Recommendations: 1

Thanks to all for your suggestions and insights. I thought you might find this interesting:

At issue was the problem of a 78 year old with two 'retirement' plans and not taking minimum distributions on either. The first plan was an IRA she had for many years and the second was a 401k with the employer she is still working for. Our friend's tax preparer did call us back. By that time I had already received the information about her current 401k from the posts on the board. Since she is still working she does not need to take a distribution. The tax preparer did not know of the rule regarding the current employer and wanted to know how I got the information. Fortunately, he also advised that her former broker had arranged for the MDR between her IRA and regular account. When she transferred to a new broker in 1999 they had failed to set up the same arrangement so it is only 1999 that we need worry about.

Our friend asked if we thought it was to late for her to get a computer and learn how the internet works. We will soon be looking for a PC for her and she already knows what web site to visit first.

Thanks again.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.