Economic Collapse

[trkyhntr]

While most of my savings are in either a Roth IRA account or a taxable brokerage account, I do have a small Traditional IRA. At my age I am required to take a minimum distribution. Last year's was just under $2700. This year I will have to take close to $3400. Since I don't need this to live on, I have been donating the money to 501 (C) 3 charities, such as our local animal shelter. These really do need the money, and by doing this, there is no income tax on what I donate.

https://www.irs.gov/charities-non-profits/charitable-organizations/exemption-requirements-501c3-organizations


Obviously this has been a good year for the market. I guess the democrats are correct when they say it has not been good for everyone, but then again, it never has, and it probably never will be.