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Required Minimum Distribution Changes for 2023

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

JUST IN: Huge Spending Bill Passed Into Law Impacts YOU & All Senior Citizens! 🚨

In today's video, Marvin Musick from Medicare School announces the breaking news of a HUGE spending bill passed into law recently that impacts YOU & all Senior Citizens! In the 1.7 trillion dollar spending bill, 14.1 billion was allotted for the SSA, Social Security Organization to help them with their customer support crisis due to the SSA budget decreasing over the years while SSA beneficiaries are 21% higher. Secondarily, this new law includes a package of provisions, known as the Secure Act 2.0 which will expand workers' access to retirement plans and gives senior citizens the ability to contribute to and maintain those accounts. The Secure Act was put into law in 2019, and this is being viewed as a new and improved version of those laws. Secure Act 2.0 passed this year, which means big changes for all senior citizens after this huge spending bill passed into law. SECURE is an acronym for "Setting Every Community Up For Retirement Enhancement"

MASSIVE Changes to RMDs: What Retirees Need to Know! | Required Minimum Distributions

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