Phil's Tax Hacks

Ep 166: SECURE Act 2.0 - RMD & Roth Changes (Part 1)

Listen Later

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.

 

Here’s some of what you’ll learn on this episode:

  • RMD age extended to age 73 for some and 75 for others. (1:05)
  • The RMD penalty has been reduced. (3:35)
  • There are no longer RMDs for any Roth account (5:09)
  • Catch-up contributions to company plans will have to do into the Roth for high-income earners. (11:22)
  • The ability to move money from a 529 plan to a Roth…with restrictions. (13:31)

    •  

    For more, visit us online: http://philstaxhacks.com

    Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

     

    ...more
    View all episodesView all episodes
    Download on the App Store
    Phil's Tax HacksBy Phil Putney
    • 4.8
    • 4.8
    • 4.8
    • 4.8
    • 4.8

    4.8

    4 ratings