Re IRS penalties etc. vs a gogo bull market.
I have just been informed that an older relative, not out of it but trending, hasn't taken RMDs (large sums, meaning v large accounts) for the last 5y, nor filed returns ... and therefore looks to owe over a half-mil in penalties, taxes, and late fees. Maybe well over.
(This is a 403b, so hey, I wonder if you can sue TIAA for not automatically moving the RMD each year into some nonretirement cash account ... assuming they did not.)
Everything in SP500 ETF, I am told.
Anyway, to slightly soften the grievous sting of this supreme idiocy, I was going to rough-crunch how much extra they made in this almost-doubling bull market over that timespan. Close to a half-mil?
I ask about this only because their heirs will be, rightly, wailing about how many college educations etc. the forfeited moneys could have gone toward. And so on.
(What a dumbass mess, yes.)