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Feb 28, 2020
It's the biggest piece of retirement legislation in decades and could cost you BIG TIME! We're talking about The Secure Act President Trump signed into law in Jan. 2020. If you don't know how it will impact you and your finances, you could lose MAJOR CASH! Steve explains what changes you need to be aware of and most importantly, how to be most tax efficient and create a legacy for your heirs.
Major Changes of The Secure Act:
- It’ll require inherited IRAs to be depleted within 10 years.
- It’ll increase the age for required minimum distributions from 70½ to 72.
- It’ll eliminate the prohibition on traditional IRA contributions for those age 70 ½.