Posted on 29 November 2012
By Mark Miller
The U.S. “fiscal cliff” is bad news for retirement security – whether we fall off it or not.
If the White House and Congress don’t steer clear of the cliff, taxes on income and investments will jump, beginning January 1. And if a deal is reached in Congress, it could herald entitlement benefit cuts, higher Medicare premiums for the rich and even caps on pre-tax 401(k) contributions.
How can retirement savers protect themselves? Here’s my distillation of the smartest advice, from a dozen financial planning experts, on sensible defense moves.
Cover photo courtesy of Talk Radio News Service, via Flickr