In light of this weeks events, interesting reading if you haven't already read it.....Rich Dad's Prophecy - Why The Biggest Stock Market Crash In History Is Still Coming & How You Can Prepare Yourself & Profit
A prophecy from 2002......
http://www.dol.gov/ebsa/faqs/faq_consumer_pension.htmlThis book was written (with Kiyosaki's co-author and partner, Sharon Lechter, C.P.A.) in 2002. All of the predictions made in this book are right on track - if not ahead of schedule.
The primary "prophecy" is that a MAJOR stock market upheaval is coming in 2016. This is the year when an estimated 2,282,887 "baby boomers" turn 70 - and are required BY LAW to make mandatory withdrawals from their 401 (k) accounts. In 2017, the number of people turning 70 jumps by 700,000 to 2,928,818, and keeps increasing every year thereafter.
Federal law sets a mandatory date by which you must start receiving your retirement benefits, even if you would like to wait longer. This mandatory start date generally is set to begin on April 1 following the calendar year in which you turn 70½ or, if later, when you retire. However, your plan may require you to begin receiving distributions even if you have not retired by age 70½.