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Joe Biden, the President-Elect of the United States, has proposed changes to traditional IRA and 401k plans that could potentially impact millions of Americans who rely on these retirement accounts for their future financial security. These changes could significantly alter the landscape of retirement savings, and it is essential for those investing in such plans to understand what these alterations would mean for their financial futures. Firstly, Biden has proposed removing the traditional tax break for high earners contributing to 401k plans, meaning that those with a higher income would no longer be able to claim the tax benefits they currently enjoy. The proposal also includes a change to the tax-deductible contributions that such earners are eligible to make to traditional IRAs. Se
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)