Okay folks, let's stop the nonsense. Senator McCain proposed temporarily changing the rules requiring that people begin withdrawing money from retirement accounts at age 70 1/2 because he needed something to say. No one will have to sell stock at depressed values because of this rule as the NYT implies today.
The reason no one will have to sell stock is that the law only requires a withdrawal of approximately 4 percent of the account. Virtually no one is going to have a retirement account that is 100 percent invested in stock when they are 70 years old. This means that they can make their withdrawal from money invested in money market funds or other assets. They will not be forced to sell their stock at depressed prices. Let's stop this nonsense.
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