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 )
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Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)