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The Your Life, Your Money Podcast helps you thrive in life, wealth and retirement. The show is designed to navigate the complexities around money, building and securing wealth, and achieving financial independence. Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you make smart and sound financial decisions. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety.

Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investment and wealth management, IRAs, 401(k)s, retirement planning, income strategies, pensions, estate planning, social security, healthcare, and much more.

Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow.

Ask Scott your questions by calling 847-235-6989 or check out our podcast website at https://lifemoneyshow.com for more resources.

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  2. Ep 87: SECURE Act 2.0 Impacts on Your Retirement (Part 1)

Ep 87: SECURE Act 2.0 Impacts on Your Retirement (Part 1)

Jan 12, 2023

Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up.

 

Here’s some of what you’ll learn in this episode:

  • Background on the original SECURE Act and what that changed. (2:51)
  • The new ages for Required Minimum Distributions. (5:23)
  • Important Q&A surrounding SECURE Act 2.0. (7:49)
  • How you can use this new RMD rule to your advantage. (9:51)
  • Delaying the RMD age could also help delay when Medicare surcharges start. (13:06)
  • Roth change 1 – Eliminating RMDs for all Roth accounts. (13:54)
  • Small business owners can utilize the ability to create a SEP Roth. (16:22)
  • Employer contributions are now eligible for Roth treatment. (17:50)
  • High-wage earners are going to be required to use the Roth for catch-up contributions. (19:20)
  • How the Secure Act 2.0 could provide more benefits to a 529 plan. (22:01)

 

Learn more about SECURE Act 2.0: https://www.kitces.com/blog/secure-act-2-omnibus-2022-hr-2954-rmd-75-529-roth-rollover-increase-qcd-student-loan-match/?utm_source=ActiveCampaign&utm_medium=email&utm_content=SECURE+Act+2+0%3A+Later+RMDs%2C+529-to-Roth+Rollovers%2C+And+Other+Tax+Planning+Opportunities++%5BNEV%5D&utm_campaign=NEV+Wednesday+Email

 

Read more and get additional financial resources here: http://lifemoneyshow.com 

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