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 original SECURE Act of 2019 extended the age from 70 ½ to 72 where you are required to take Required Minimum Distributions (RMDs) from your IRA accounts. Now with the passing of the Omnibus Bill, SECURE Act 2.0 extends Required Minimum Distributions (RMDs) beginning date to age 73, starting in 2023. If you are nearing retirement, you need to stay up to date on these changes, and how they may affect your retirement portfolio. Pay attention to the details including how the penalties for not taking withdrawals on time will affect you… ✅ SUBSCRIBE to NOT being a transaction ever again... ✅ Like us on Facebook! ✅ Follow us on Twitter! ✅ Check out our site for more tips With the passage of SECURE Act 2.0, Required Minimum Distributions (RMDs) are phased in over the next 10 years. Here’s the breakdown of when you need to take RMDs: In phase #1: RMDs will now start at age 73, starting in 2023. If you have already started RMDs, this will not change for you. If you tur

Your starting RMD age (likely) just changed. Do you know how it affects your income and tax plan in retirement? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to At the end of 2022, SECURE Act 2.0 was passed, and with it, changes are coming to the retirement planning space. RMD rules, QCD limits, retirement contributions, 529 to Roth Rollover, and more... All of these areas are seeing some massive adjustments. In today's video, we talk about 3 major changes coming to required minimum distributions. Timestamps: 0:00 Your RMD Age is Changing... 0:12 SECURE Act 2.0 Explained 0:48 The New RMD Rules 1:42 No Roth 401k RMDs/25% RMD Penalty 3:17 How will this impact your retirement tax plan? - - - - - - - - - - - - - - Always remember, "You Don't Need More Money; You Need a Better Plan" 🍿 Subscribe to our channel: 🏆 Join our Weekly Email