KeatsConnelly Cross-Border Weekly Best of the Web 2014-10-31

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week’s articles include a piece on the increasing (although still extremely small) number of Americans renouncing U.S. citizenship, an editorial with thoughts on updating RRIF withdrawal rates and view on different economic conditions faced by Baby Boomers compared to what Gen X face as they work toward retirement.

Hundreds of Americans relinquish passports as FATCA tax law comes into force (http://www.financialpost.com/) – The number of Americans renouncing U.S. citizenship increased 39% in the three months through September after rules that make it harder to hide assets from tax authorities came into force. People giving up their nationality at U.S. embassies increased to 776 in the third quarter, from 560 in the year-earlier period, according to Federal Register data published yesterday…

Why Canada needs to update its RRIF withdrawal rules (http://www.theglobeandmail.com/) – For reasons of fairness, it’s time to revisit the rules that require people to withdraw a big chunk of money each year from their registered retirement income funds. A fair approach to RRIF withdrawals is complicated, though. On one hand, we need to consider the needs of seniors who are required to withdraw annual amounts that are quite high in relation to today’s low interest rates and longer lifespans. There’s a strong argument for lowering the minimum withdrawal so that RRIFs last longer…

Four economic energizers made life easy for Boomers: Mayers (http://www.thestar.com/) – As Baby Boomers head into retirement with many having spent too much and saved too little, don’t feel sorry for their plight. Feel sorry instead for the generation that’s behind them, the Baby Bust generation, or so-called Generation X, between about 40 and 55. They have a while to go in their working life and don’t have access to the same once-in-a generation economic energizers that should have fueled an easy exit for the Boomers…

Come back next week for more interesting news and articles. Enjoy your weekend!

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