[CatOwner]

Look at the bright side for 401k balances. Lower balance means taking a smaller RMD, so you pay less taxes. Biden’s giving those over 72 a tax break.

This year's RMD is based on *last* year's value on December 31, 2021. For mosts, their investments were worth a lot more than they are now. If you are still waiting to take an RMD in 2022, you get to lock in the loss of value since that date.

[damper99]

Yeah, should have said “tax break for next year” since 2023 RMDs will be based on the value at this year’s end.