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Beth Kaufman Weights in on Impacts of Possible House Tax Package in CNBC

September 20, 2021, CNBC

Billionaire Peter Thiel and others with huge retirement account balances are in lawmakers’ crosshairs.

House Democrats unveiled a tax package on Monday that would force distributions from one’s nest egg if the value of individual retirement accounts, 401(k) plans and other retirement stashes exceed $10 million.

. . .

“It’s not just people like Peter Thiel,” according to Beth Shapiro Kaufman, an estate planner at the law firm Caplin & Drysdale. “I see professionals who have amounts that could be into the two digits of millions, because the period of their working life was a phenomenal period in the stock market.”

However, most people should be able to live comfortably on $10 million in retirement savings, she added.

For the full article, please visit CNBC's website.

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