June 5, 2018
Securities and Exchange Commission
To the and Exchange Commission,
Please stop financial investors from stealing money from older Americans. When my aunt retired, she had money saved up. She went to a financial advisor who convinced her to take out all of her investment and let him reinvest it. He did not inform her of the tax consequences of withdrawing all of the money in the same year.
The fees and bad advise caused her to lose money. The financial advisor was only concerned about himself.
I'm counting on you to make a stronger rule that closes the loophole.
Americans who've worked hard to save for retirement deserve peace of mind about their financial security.
Sincerely,Mrs. Betty Bowden