Rules for Your Retirement Savings and Distributions Are Changing - 253

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

🗓️ 24 December 2019

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Just in time for the holidays, the Setting Every Community Up for Retirement Enhancement Act, or SECURE Act, has been made law, effective January 1, 2020. Joe and Big Al explain what it means for your stretch IRAs, required minimum distributions, retirement savings and more. Plus the fellas answer your questions on self-employed small business retirement plans and paying off the mortgage. Ask money questions, read the transcript & access free financial resources: http://bit.ly/YMYW-253

Transcript

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0:00.0	Merry Christmas. Just in time for the holiday, the setting every community up for Retirement
0:05.1	Act or Secure Act has been made law. It's effective January 1st, 2020, and today on Your Money,
0:12.5	your wealth, Joan Big Al, explain what this new retirement legislation means for your stretch IRAs,
0:17.7	required minimum distributions, retirement savings, and more. Plus, the fellows answer your
0:22.8	questions on self-employed small business retirement plans and paying off the mortgage. If you've got
0:28.5	money questions, comments, compliments, or complaints, click the link in the description in your
0:32.4	podcast app to go to the show notes and click Ask Joe and Big Al on air. I'm producer Andy Last and here are the hosts of Your Money, Your Wealth, Joe Anderson,
0:40.7	CFP and Big Al Clopine CPA.
0:43.9	Happy holidays, everyone. Tis the season to be jolly.
0:48.6	Hot up the press, Secure Act.
0:50.3	This is probably the biggest retirement act in the last decade, I would say.
0:54.1	Yeah, but that's all BS too.
0:56.0	No, it is.
0:56.4	There's some stuff.
0:57.5	I mean, it's not like the best thing ever.
0:59.9	It's like, this is huge.
1:02.1	But, well, it's the biggest thing in the last 10 years.
1:06.0	Would you agree with that?
1:06.7	Yeah, because there hasn't really been anything besides what the Pension Protection Act of 06.
1:11.3	If you roll the tape back, that's what I said.
1:13.4	It's the biggest thing in the last 10 years.
1:16.5	That's like clickbait.
	...

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