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Ep 103: SECURE Act 2.0 – Retirement Changes You Need to Know About

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Manage episode 352309497 series 2536126
Content provided by BA Schrock Financial Group. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BA Schrock Financial Group or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up.

Here’s some of what you’ll learn on this episode:

  • The key differences in SECURE Act and SECURE Act 2.0 (1:06)
  • The age for RMDs is moving back even further. (2:52)
  • The penalties for missing RMDs is not nearly as significant. (3:59)
  • The big change to 529 plans that might give you more flexibility. (7:20)
  • Employers have the ability set aside money for student loan payments. (12:27)
  • Some lifetime income options inside 401(k) accounts will be available. Is that a good thing? (17:36)

For more, visit us online: https://baschrock-fg.com/

  continue reading

148 episodes

Artwork
iconShare
 
Manage episode 352309497 series 2536126
Content provided by BA Schrock Financial Group. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BA Schrock Financial Group or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up.

Here’s some of what you’ll learn on this episode:

  • The key differences in SECURE Act and SECURE Act 2.0 (1:06)
  • The age for RMDs is moving back even further. (2:52)
  • The penalties for missing RMDs is not nearly as significant. (3:59)
  • The big change to 529 plans that might give you more flexibility. (7:20)
  • Employers have the ability set aside money for student loan payments. (12:27)
  • Some lifetime income options inside 401(k) accounts will be available. Is that a good thing? (17:36)

For more, visit us online: https://baschrock-fg.com/

  continue reading

148 episodes

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