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Seniors don't need to sell stock

October 19, 2008

Your report, based on a McCain speech in La Crosse, Wis., ("McCain Weighs New Strategy," Oct 10) says McCain has already called for suspending rules that require seniors to sell their stocks at age 70 1/2 in the midst of a financial crisis.

But this is nonsense. Under present rules no one has to sell stock! Stock (or mutual funds, etc.) can be transferred from an IRA or 401(k) (referred to by McCain) to a personal account to satisfy the retirement fund withdrawal requirements.

Peter D. Noerdlinger

Boulder, Colo.

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