The SECURE Act of 2019 represented the biggest update to retirement law in over a decade. Now, Congress is deliberating on what “SECURE 2.0” legislation might entail.
In March, the House passed the Securing a Strong Retirement Act with a bipartisan 414-5 vote. The Senate is still weighing numerous proposals for their version, the Rise & Shine Act.
Proposals under consideration include:
*Raising the Required Minimum Distribution (RMD) age to 73 (eventually 75)
*Increasing catch-up contributions to $10,000
*Creating Roth versions of SIMPLE and SEP IRAs
Reconciling these bills will take time, but it’s clear that SECURE 2.0 could bring about another raft of significant changes for business owners and employees. As always, I’m keeping an eye out for what you need to know and will be in touch as events develop. Please contact me if you have questions about planning your retirement.
Little things to keep in mind for life after work. Decades ago, there was a book titled, What They Don’t Teach You at Harvard Business School. Perhaps someday, another book will appear to discuss
...Read MoreUnderstanding mandatory retirement account withdrawals.If you are approaching your seventies, get ready for required minimum distributions. You may soon have to take RMDs, as they are called, from one
...Read MoreFinancial Planning isn't a "one size fits all" approach. Each individual and couple has their own unique situation and goals for the future.
...Read More
Any media logos and/or trademarks used on this website are the property of their respective owners and no endorsement by those owners of the advisor or firm is stated or implied.
Investment Advisory Services are offered through Maisch Financial Partners,LLC., a New Jersey state registered investment advisor. Insurance sales are offered through Maisch Financial Group, LLC. Our advisors and insurance reps may offer clients advice and/or products from each entity. No client is under any obligation to purchase any insurance product. No statements made shall constitute tax, legal or accounting advice. You should consult your own legal or tax professional on any such matters. *Guarantees provided by insurance products are backed by the claims-paying ability of the issuing carrier. Certain guides and content for publication were either co-authored or fully provided by third party marketing firms. By contacting us, you may be offered information regarding the purchase of insurance and investment products.
The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation.
