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SECURE 2.0 / Changes to 401K, IRA and 529


SECURE 2.0 / Changes to 401K, IRA and 529 are explained in detail. 00:00 Intro 00:26 Required Minimum Distribution (RMD) 02:27 RMD Penalty 02:59 RMD for Roth 401K 03:18 Catch-up contribution 05:35 Backdoor Roth / Mega Backdoor Roth 05:49 529 Changes References: Other Related Episodes: Why HSA is better than 401K?: Tax Loss Harvesting: LinkedIn: Twitter: Web: #VijayMohan #InvestmentInsights #InvestmentInsightsEnglish #SECURE2.0 #taxPlanning DISCLAIMER: The content of this video is my own opinions and is for information purposes only. It is not intended as a substitute for professional financial advice. It is only intended to provide education about investments....(read more)


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The new SECURE 2.0 Act has been signed into law, bringing with it a number of changes to 401K, IRA and 529 plans. The changes are intended to make it easier for individuals to save for retirement, and to make it easier for employers to offer retirement plans to their employees. Under the new law, employers are now allowed to automatically enroll their employees in 401K plans, and employees can opt out if they choose. This makes it easier for employers to offer retirement plans without having to worry about employees opting out. Additionally, employers can now offer matching contributions up to 5% of an employee's salary, and employees can now make catch-up contributions of up to $10,000 per year. The new law also makes it easier for individuals to save for retirement by increasing the amount that can be contributed to a traditional or Roth IRA. Individuals can now contribute up to $7,000 per year, up from $6,000. Additionally, the law increases the amount that can be contributed to a 529 plan from $2,000 to $10,000 per beneficiary. The new law also makes it easier for individuals to access their retirement funds in the event of a financial emergency. Individuals can now withdraw up to $100,000 from their 401K, IRA or 529 plans without incurring a penalty. Additionally, individuals can take penalty-free distributions of up to $5,000 from their retirement plans to pay for qualified birth or adoption expenses. Overall, the new SECURE 2.0 Act makes it easier for individuals to save for retirement and access their retirement funds in the event of a financial emergency. It also makes it easier for employers to offer retirement plans to their employees. These changes are a welcome addition to the retirement savings landscape, and will help individuals prepare for a secure retirement. https://inflationprotection.org/secure-2-0-changes-to-401k-ira-and-529/?feed_id=68020&_unique_id=63e033d97123d #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #529 #BuildingWealth #contributionlimit #ETF #Finance #FinancialIndependence #investmentinsights #investmentinsightsEnglish #Investments #ira #MutualFunds #PersonalDevelopment #personalfinance #requiredminimumdistribution #retireearly #retirementplanning #RMD #ROTH401k #SECURE2.0 #secureact2.0 #sharemarket #Stocks #USDesi #VijayMohan #BackdoorRothIRA #401k #529 #BuildingWealth #contributionlimit #ETF #Finance #FinancialIndependence #investmentinsights #investmentinsightsEnglish #Investments #ira #MutualFunds #PersonalDevelopment #personalfinance #requiredminimumdistribution #retireearly #retirementplanning #RMD #ROTH401k #SECURE2.0 #secureact2.0 #sharemarket #Stocks #USDesi #VijayMohan
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