Debt to Dollars: Secure Act 2.0's Student Loan Game-Changer
Everyone's Talkin' Money
Shari Rash
4.6 • 631 Ratings
🗓️ 7 May 2024
⏱️ 45 minutes
🔗️ Recording | iTunes | RSS
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| 0:00.0 | What if instead of you putting 5% towards your 401k, you put 5% towards your student loan debt. |
| 0:17.6 | And your employer matches that 5% with into your 401k. That's what the Secure Act |
| 0:24.0 | allows you to do. And it's pretty cool for the right employee. You're listening to everyone's |
| 0:34.1 | talking money. I am your host, Shauna. And this is the Money podcast that helps you make real changes with your finances. So if you're new here, it's so good to have you. Be sure to subscribe and follow us so you never miss an episode. If you are an ETM fan already, welcome back, my friend. This episode is one you're going to want to bookmark. Do you save for retirement or pay off your |
| 0:57.1 | student loans? That is the $64 million question. I have been asked repeatedly. The good news is you |
| 1:03.6 | might not have to choose between the two. Have you ever heard of the Secure Act 2.0? Well, it's created in |
| 1:09.1 | 2022 and some pretty cool features were rolled out this year |
| 1:12.2 | in 2024, including the provision allowing employers to match retirement contributions in your 401k, |
| 1:19.3 | 403B, et cetera, on your behalf when you are making student loan payments. Okay, this is mind-blowing, |
| 1:25.8 | but what do you need to know? We're Robert Ferrington, the creator of the college investor and America's millennial money expert |
| 1:31.2 | and student loan debt expert, is back on the show to break down all of the ins and outs. |
| 1:36.0 | In this episode, we discussed how the Secure Act 2.0 can help you with your money goals, |
| 1:40.8 | the current status of student loan debt forgiveness, and how you can roll over money from a |
| 1:45.3 | 529 college savings plan to a Roth IRA, it's oh so good. So if you've been scratching your head |
| 1:51.8 | trying to figure out how to increase your retirement plan contributions, you are going to want to |
| 1:56.5 | listen to this episode. All right, let's start talking. We're talking about something on the show that we don't |
| 2:02.5 | cover a lot. And this is, you know, very timely money news. There was the Secure Act 2.0 that came out. |
| 2:10.4 | And there's a lot of really juicy bits in there that I know you are the expert on. And these are things that I think we really |
| 2:19.9 | need to know about. You know, one of the things that, you know, the Secure Act kind of talked about |
| 2:27.6 | was this idea for employers to match their employee student loan payments with contributions |
| 2:33.3 | to their retirement accounts. And I know |
| 2:35.4 | that we are just as a nation so far behind when it comes to retirement savings, you know, |
... |
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