The Biggest Changes for 401(k) Retirement Savers in 2023

Discover the latest changes in retirement savings for 2023, as part of an omnibus spending bill signed by President Joe Biden. Learn about the ability to roll over money from a 529 college savings plan into a Roth IRA, the option for employers to treat employee student loan payments as contributions to workplace retirement savings plans and the introduction of emergency savings accounts. Stay informed and make the most out of your retirement savings with this informative video. #401k #investment #retirement...(read more)

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In recent years, the 401(k) retirement savings plan has become increasingly popular as a way for individuals to save for retirement. With the passage of the SECURE Act in 2019, the 401(k) landscape will undergo some of its biggest changes in the coming years. Here is a look at the biggest changes for 401(k) retirement savers in 2023. First, the age limit for making traditional IRA contributions will be raised from 70 ½ to 72. This change will allow individuals who are still working to continue to contribute to their retirement accounts, which can help them build a larger nest egg for their golden years. Second, the required minimum distribution (RMD) age will be raised from 70 ½ to 72. This change will allow individuals to delay taking RMDs and keep their money invested for longer, potentially providing more growth opportunities. Third, the SECURE Act will allow individuals to make penalty-free withdrawals from their retirement accounts if they have a qualifying birth or adoption. This change will provide financial relief for those who are expecting a new addition to their family. Fourth, the SECURE Act will also allow employers to offer long-term, part-time employees access to their 401(k) plans. This change will help part-time workers save for retirement, which is often difficult for them to do. Finally, the SECURE Act will increase the maximum age for catch-up contributions to 72. This change will allow individuals over the age of 50 to make additional contributions to their retirement accounts, helping them to save more for their retirement. Overall, the SECURE Act will bring some of the biggest changes to the 401(k) landscape in the coming years. These changes will provide more opportunities for individuals to save for retirement, which is a critical part of financial planning. https://inflationprotection.org/the-biggest-changes-for-401k-retirement-savers-in-2023/?feed_id=67495&_unique_id=63de385224360 #Inflation #Retirement #GoldIRA #Wealth #Investing #2023changes #401k #529accounts #emergencysavings #retirementcrisis #retirementsavings #RothIRA #studentloanpayments #401k #2023changes #401k #529accounts #emergencysavings #retirementcrisis #retirementsavings #RothIRA #studentloanpayments

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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