The Bank of England has decided to hold interest rates steady, despite a recent slowdown in inflation. This decision comes as policymakers weigh the impact of rising energy prices and supply chain disruptions on the economy. The bank’s Monetary Policy Committee has opted to maintain rates at 0.1%, citing the need for further economic data before considering any changes.
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Taking Your Required Minimum Distribution (RMD) Right Now Could be a Brilliant Move for Retirees
Investing in retirement accounts like IRAs and 401(k)s offers tax advantages, as contributions are tax-deductible and earnings are tax-deferred until withdrawal. However, starting at age 73, individuals must take required minimum distributions (RMDs), which can create a tax burden if reinvested improperly. Taking RMDs during market downturns can be beneficial, as it allows investors to withdraw more shares, reinvest them in taxable accounts for potentially lower capital gains taxes, and reduce future RMDs. Full Article
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