Timothy Sumer

Stretch IRA's, RMD's, Inherited IRA's , QCD's and IRA penalty free distribution exception for IRA.I'll give you an explanation of the 5 parts of the new law that are most likely to impact your finances. RMD changes and Stretch IRA is dead. Check out www.bradrosley.com for many educational posts. brad@fortunefinancialgroup.com... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The SECURE Act, which came into effect on January 1, 2020, introduced significant changes to retirement planning . One of the most significant changes is the elimination of the Stretch IRA provision. This provision allowed non-spouse beneficiaries of an IRA to stretch out distributions over their lifetimes, significantly reducing the tax burden on inherited IRAs. However, under the new SECURE Act, non-spouse beneficiaries must distribute the entire IR

The Secure Act passed in 2019 and has some big implications for tax planning specifically when it come to passing on generational wealth. For year the stretch IRA has been a planning staple. A way for kids, grand-kids, etc to minimize the tax implications of inheriting a large sum of qualified retirement account money. Starting in 2020 the rules around inherited IRAs will change drastically. Now more than ever, ROTH conversions ans properly structured cash value life insurance policies should be considered as part of your overall retirement and estate planning strategy. To see our views on retirement planning check out our free course: Have other questions: Book a Time to chat here: OR Send us your question here: ... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA https://inflationprotection.org/secure-act-tax-changes/?feed_id=5044