Word: timebomb
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Dates: during 2000-2009
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...boondoggle for the nation’s taxpayers. Bush and his allies on the Hill, with an eye to the 2004 election, are clearly hoping the $400 billion prescription-drug benefit will woo elderly voters, but the bill is of dubious value to senior citizens, and a fiscal timebomb for younger generations of Americans...
...under age 55. Don't pile into a traditional IRA, because these accounts require withdrawals starting at age 70 1/2. "That defeats the purpose of working longer to keep your capital invested and could throw you into a higher tax bracket," says Ed Slott, author of The Retirement Savings Timebomb and How to Defuse It. Instead, favor a Roth IRA--you'll never have to take a distribution in your lifetime--or a 401(k), with no distributions required as long as you work...