The SECURE Act includes roughly 100 new rules for retirement affecting both individuals and businesses – all with tax implications and various effective dates. These are the most expansive changes to retirement rules in 40 years.
The SECURE Act 2.0 may do a lot to help secure Uncle Sam, but I’m not so sure about the rest of us.
RMD age hikes may not be the blessing you think. The question just might be who is more secure? Retirees or future government spending?
Congress labeled it the SECURE Act, because it’s a better sell to the public. But, what Uncle Sam really wanted to do was make their spending programs more secure – hence, securing reelection.
IRAs are popular choices as a retirement vehicle, today holding over $11 trillion in assets, estimated to comprise more than one-third of all retirement assets. What’s interesting is that naming trusts as IRA beneficiaries has become more common.
Remember when we heard the SECURE Act eliminated the stretch IRA for most all non-spouse beneficiaries?
Rollover advice isn’t always straightforward – it’s often conflicted. There are issues you should address before you act.
RMDs are back for 2021! Make sure you don’t get his with penalties.
This major change will bring in $15.7 billion in tax revenue by 2029, according to the joint committee on taxation in their report on the bill, H.R. 1994. And, guess whose money they want? Yes, yours.
It’s an election year, and while the headline topics dwell on the border, January 6th, the age of the candidates, and all the rest, few are talking about the “3rd rail” of politics: social security.
You can expect a few politicians will come up with innovative approaches (they know will never reach the floor for a vote), but it does make for good campaign sound bites. It can be confusing.
Believe it or not, you’ll have a number of options available to you – and it pays to do your homework before making decisions that could be irrevocable – and costly.
