New Retirement Legislation: Death to the Stretch IRA? - 224

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 4 June 2019

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Professor Jamie Hopkins (Carson Wealth & Heider School of Business/Creighton University) talks about impacts the SECURE Act could have on retirement planning - particularly the end of the stretch IRA provision, which allows inherited individual retirement accounts to remain tax-deferred. Plus, how to reduce taxes when you have significant capital gains, when you can take tax-free and penalty-free 457 distributions, and whether or not to max out your 401(k). Transcript & show notes: http://bit.ly/YMYW-224

Transcript

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0:00.0	The House of Representatives has passed the Secure Act, setting every community up for retirement
0:06.1	enhancement.
0:07.3	Today, Professor Jamie Hopkins returns to your money, your wealth to discuss what impacts
0:11.6	the first major retirement legislation since 2006 could have on your retirement plans.
0:17.1	Will we finally see the end of the stretch IRA, which currently allows non-spouse beneficiaries to inherit IRAs and their tax-deferred status?
0:24.8	Plus, Joe and Big Al, answer your money questions.
0:27.4	How do you reduce taxes when you have significant capital gains?
0:30.6	When can you take tax-free and penalty-free distributions from a 457 plan?
0:35.2	And why in the world would the fellows recommend maxing out a 401k?
0:38.9	Plot twist, they don't necessarily.
0:41.1	I'm producer Andy Last, and here with our guest, Jamie Hopkins,
0:44.2	are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al-Cloafine CPA.
0:50.7	Jamie's been on the show before, Esquire He's smartest guy we probably ever had on the show.
0:56.0	He's a CFP MBA, RICP.
0:59.0	Now he's the director of research over at our buddy Ron Carson's place.
1:03.0	Carson Well, he was a former professor of taxation at the American College, where he helped co-create the retirement income certified professional,
1:12.9	the RICP educational program, which is extremely popular.
1:16.6	It's a phenomenal program.
1:18.1	So, Jamie, thank you so much for hanging out with us.
1:21.9	Hey, yeah, thanks for having me on.
1:23.6	Yeah, it's amazing, you know, when you say, I think it's probably about a year ago or so.
1:27.8	I was on last, and I was like, man, a lot of, lots changed since then.
	...

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