Background on Secure Act 2.0
out again. If you were born between 1951 and 1959.
Your required minimum distribution age will be 73 if you were born in 1960 or later. You don’t have to start taking distributions from your Ira at 70 until 75.
For folks that have some non-retirement assets and some IRA assets, it gives us a couple more years to be strategic about how we deal with those for tax purposes.
years so that they would have more money later on. In a sense, securing their retirement by not forcing them to take distributions when they maybe didn’t want to.
So, this is certainly something you want to think about from a planning standpoint.
average tax rate lower rather than all of a sudden paying a whole bunch of taxes all at once.
This is where some planning and maneuverability come in. If you are lucky enough to work for an employer who offers a match on your retirement plan and also has a Roth 401K option, and the plan will allow for it – you should consider whether electing to have those
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