After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. The financial planning industry has been keeping an eye on this bill for some time so it wasn’t a surprise, but there are a few wrinkles that many weren’t expecting.
Listen to today’s episode to see what you need to know and learn four ways the new changes might impact you. This won’t cover everything because there are more than 90 provisions in the SECURE Act 2.0, but this should give you some planning opportunities to discuss with your advisor the next time you meet.
Here’s some of what we’ll discuss in this episode:
- Required minimum distribution age is moving back again. (1:39)
- Changes to the catch-up contribution for people over 50. (6:40)
- A new option to roll money from a 529 plan to a Roth. (9:35)
- A few different Roth changes in this bill as well. (14:18)
- Getting a company match in your 401k while you’re paying student loans. (15:58)
- Shari’s overall feelings on the SECURE Act 2.0 changes. (19:09)
If you’re ready to start putting off your financial planning, we make it easy to set up a time to meet and have that first appointment. Visit our online calendar here to begin.
