We’re more than halfway through 2023 and we’ve already seen the impact SECURE Act 2.0 has on retirement planning. These first six months have given the financial industry time to identify some of the potential pitfalls that the legislation creates for retirees.
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will walk you through these key planning items that SECURE Act 2.0 made adjustments to help you identify areas where you might need to make changes of your own. The reason why these pitfalls exist is because they deal with major planning conversations like Roths, catch-up contributions, and required minimum distributions that are moving back again. All of these things can have a big impact on your long-term success, so we want to stay on top of it now.
We’ll cover all the significant changes you need to be aware of, but we’ll also close out the conversation with insight into Social Security strategies and how to get the most out of your benefits in retirement.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
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redefiningwealth.info
lswealthmanagement.com
Schedule a Review: https://redefiningwealth.info/schedule/
Timestamps (show notes):
2:52 – Catch-up contributions with different tax implications starting in 2024
8:22 – Investing when your employer doesn’t match contributions
10:44 – The RMD age moving once again and it impacts income planning
14:33 – The flexibility provided by a Roth 401k
17:29 – Other significant changes that you need to be aware of
20:09 – Using Social Security to work as an investment for you
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