Ep 87: SECURE Act 2.0 Impacts on Your Retirement (Part 1)

<p>Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up.</p> <p> </p> <p><strong>Here’s some of what you’ll learn in this episode:</strong></p> <ul> <li>Background on the original SECURE Act and what that changed. <strong><em>(2:51)</em></strong></li> <li>The new ages for Required Minimum Distributions. <strong><em>(5:23)</em></strong></li> <li>Important Q&A surrounding SECURE Act 2.0. <strong><em>(7:49)</em></strong></li> <li>How you can use this new RMD rule to your advantage. <strong><em>(9:51)</em></strong></li> <li>Delaying the RMD age could also help delay when Medicare surcharges start. <strong><em>(13:06)</em></strong></li> <li>Roth change 1 – Eliminating RMDs for all Roth accounts. <strong><em>(13:54)</em></strong></li> <li>Small business owners can utilize the ability to create a SEP Roth. <strong><em>(16:22)</em></strong></li> <li>Employer contributions are now eligible for Roth treatment. <strong><em>(17:50)</em></strong></li> <li>High-wage earners are going to be required to use the Roth for catch-up contributions. <strong><em>(19:20)</em></strong></li> <li>How the Secure Act 2.0 could provide more benefits to a 529 plan. <strong><em>(22:01)</em></strong></li> </ul> <p> </p> <p><strong>Learn more about SECURE Act 2.0:</strong> <a href= "https://www.kitces.com/blog/secure-act-2-omnibus-2022-hr-2954-rmd-75-529-roth-rollover-increase-qcd-student-loan-match/?utm_source=ActiveCampaign&utm_medium=email&utm_content=SECURE+Act+2+0%3A+Later+RMDs%2C+529-to-Roth+Rollovers%2C+And+Other+Tax+Planning+Opportunities++%5BNEV%5D&utm_campaign=NEV+Wednesday+Email"> <em>https://www.kitces.com/blog/secure-act-2-omnibus-2022-hr-2954-rmd-75-529-roth-rollover-increase-qcd-student-loan-match/?utm_source=ActiveCampaign&utm_medium=email&utm_content=SECURE+Act+2+0%3A+Later+RMDs%2C+529-to-R