Details blurred to protect the guilty. My lovely wife received this letter February 24, 2010.
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About Tony Lima
Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.
The one we received from Merrill Lynch says that they cover the tax considerations for 401ks and IRA. Then, in the tiny print at the bottom if the same flyer, it says “…is not intended as tax advice and should not be relied upon…” Listen to what we say but don’t necessarily believe it.
After all, Merrill Lynch was the pig-in-a-poke in the sale to Bank of America. Don’t worry though, the guy who sold Merrill to BofA is now in charge of cleaning up the bankrupt CIT Group.