Ep 33: Five Times The SECURE Act 2.0 Might Impact You

Liz Whitteberry |
 

The SECURE Act 2.0 was passed in January, and it is still confusing to most people. Today we're going to talk about five times the SECURE Act could impact you, whether you're working, retired, or planning for your legacy.

Intriguingly, the Secure Act 2.0 has provided more tools and options for retirement planning. However, it's up to you to seize the opportunities these changes offer! Join us for this episode to delve deeper into these vital modifications and ensure you're well-equipped to retire on your own terms. Don't forget to consult with a financial advisor like Liz to navigate these key considerations effectively.

 

Here’s some of what we discuss in this episode:

  • The increased catch-up contribution limits that will come into effect in 2025

 

  • The changes in Required Minimum Distribution (RMD) ages and how these changes impact your retirement strategy

 

  • The new regulations for inherited IRAs and how they affect your beneficiaries Considering the tax implications for your heirs + how Roth conversions and updated beneficiary designations can benefit their financial future

 

  • Considering the tax implications for your heirs + how Roth conversions and updated beneficiary designations can benefit their financial future

 

  • The exciting option of rolling unused funds from a 529 plan into a Roth account for your child or grandchild.

 

Featured Quote

 

“You need to review any trusts that have been written. If they were written before the SECURE Act, and they're named as a beneficiary on an IRA or a 401k, then the language probably is going to force the opposite of what you intend, because the rules have changed so significantly.”