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There are penalties for overstuffing retirement accounts
Many Americans don’t save enough for retirement; some people save too much, at least according to the IRS. There are tax laws that limit how much you are allowed to contribute to retirement accounts; if you save too much, you face being penalized. There are penalties if you fail to take enough out of your retirement accounts. So, what is the average person to do? Liz Weston explains what you need to know to stay on the right side of the IRS’ rules. Read Ms. Weston’s article here…
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