Secure Act 2.0 - Key Impacts on Your Retirement Planning

01/12/23 • 26 min

Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

The much anticipated Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 recently passed Congress as part of the Consolidated Appropriations Act of 2023. While no single change made in this act will have the same level of effect on your retirement planning as some changes made in the original SECURE Act, passed in December 2019, there are far more provisions in this act that may impact your planning. Hear Tyler Emrick, CFP, CFA discuss some of the more impactful changes and how they will affect your planning and retirement. Here's some of what you'll learn in this episode:

What is the SECURE Act and why another update? (1:23)
Big changes to RMDs including age being pushed back again. (3:22)
The Roth changes that you can start planning for. (8:29)
Catch-up contributions for high-income earners will be required to be Roth. (11:11)
A 529 to Roth transfer will be allowed after 15 years. How can you qualify for that? (13:47)
Additional contribution increases coming in 2024 and 2025. (17:10)
A few other changes that we think you should know about. (20:18)

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

What is the SECURE Act and why another update? (1:23)
Big changes to RMDs including age being pushed back again. (3:22)
The Roth changes that you can start planning for. (8:29)
Catch-up contributions for high-income earners will be required to be Roth. (11:11)
A 529 to Roth transfer will be allowed after 15 years. How can you qualify for that? (13:47)
Additional contribution increases coming in 2024 and 2025. (17:10)
A few other changes that we think you should know about. (20:18)

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Previous Episode

Social Security - Planning Strategies, COLA, and Update

Whether you are trying to understand better how Social Security works or looking to optimize your filing strategy, this episode is for you. Hear Tyler discuss some of the less talked about factors impacting your Social Security claiming strategy. Listen as he talks through his clients' most common questions and concerns. All to help you better understand and maximize your benefits. Here's some of what you'll learn on this episode:

How Social Security as part of income planning has changed through the years. (3:13)
How we help clients identify Social Security opportunities they have. (7:29)
The Cost Of Living Adjustment (COLA) coming in 2023. (16:05)
How we help clients determine their claiming strategy. (20:34)
Where does Social Security fit into the overall retirement planning process. (30:14)

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Next Episode

What are Retirees Doing After Poor Market Returns in 2022

2022 was a tough year for stock and bond market returns. How are retirees adapting to the falling market? What decisions are they making now to set themselves up for success in the future? Listen as Tyler Emrick, CFP, CFA, shares his clients' stories to uncover their questions and how they plan to navigate the challenges posed by the current market and economic landscape. Here's some of what you'll learn in this episode:

Some of the numbers that show just how bad 2022 was for investors. (2:54)
A lot of families are using the flexibility built into their retirement plan. (5:47)
Considering taking advantage of a Roth conversion. (10:28)
We've started taking a closer look at retirees' spending to see how it's changed. (13:16)
What we're looking at inside a client's portfolio. (20:24)

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth