By now, you know that the U.S. Federal Reserve Board raised the so-called Fed Funds rate by three quarters of a percent—the largest increase since 1994. You may also have heard that the size of the increase took everybody by surprise—a list that includes economists, pundits, journalists and professional investors. The news drove the markets, already teetering on the edge, into bear market territory—defined as a 20% drop from previous highs.
Mark your calendar for THURSDAY JULY 28TH! Vantage is sponsoring a Sounds of Summer live music event at Harmony Park in Arlington Heights. Come visit our booth and grab some fresh popcorn for the concert. See additional details below.
Before the Secure Act was passed in December 2019, most non-spouse beneficiaries of an inherited IRA could “stretch” the period to take distributions from the inherited IRA based on the beneficiaries life expectancy. This was desirable because the beneficiary could usually defer withdrawing the bulk of the funds thereby deferring the bulk of the tax liability as well.