How the SECURE Act Will Impact Retirement Savings #AskTheMoneyGuy Subscribe today to stay up to date with our latest shows and highlight videos …
You might also like
12
replies
How Can We Help You?
Our Promise
It’s our responsibility to evaluate and assess your financial situation and only make recommendations that are in your best interest, and we do so with integrity & transparency.
Contact Us Today
1355 North Main Street
Suite 500
Bountiful, Utah 84010
801.690.5899

Retirement accounts were designed to allow people to save money and have a comfortable retirement – not to provide a large fortune and a perpetual stream of income for their children and grandchildren. There have been many abuses – Mitt Romney has $100 million in a Roth IRA, which was not exactly what Senator Roth had in mind.
The exemptions for the 10 year rule are the most interesting… spouse can still stretch, which is fine by me!
Looking forward to your upcoming program on the SECURE Act!
Hey MoneyGuys, can y'all please touch on the ways I can pay my student loans with a 529 with the SECURE act. I'm 28yrs old. I'm not sure it's good because it takes time for the assets to appreciate in value before using them for my public and private loans. I would love to hear your take!
Are you going to do any content on the new W4? I went to update my withholding and was confused by the new form and how to best fill it out.
I enjoy the show very much guys! My question is if I am investing correctly at work. I am contributing equally into a 457 Deferred Comp Plan and a Roth Salary Deferral. I am 45 years old and just don't know if that was maximizing my money potential.
I love your show you always give a dumb guy like me the meat and potatoes.. my sister at 40 years old just died she left me her roth IRA worth 65k.. I can only keep this account for 10 years I'm using 15k of it to be debt free what should I do with they other 50k I have a fully funded roth?? I do have a young child I would love to set up for the future and dont wanna bet on college??
My son and daughter have all tools and resources they need to fund their own retirements.
Have been listening to you for about 6 months and really appreciate your content. We took early retirement 6 years ago (downsized) and have been living on a pension and some withdrawals from retirement funds. Last year finally found out the benefit of converting some of those funds to Roth so we made our first conversion at that time. Plan to convert some more this year. Looking forward to hearing more about SECURE Act and how that will affect us and heirs (if we are fortunate enough to have some funds remaining for heirs), also what may happen tax-wise to any funds not converted before we take Soc. Security in 3-9 years… Thank you for what you do!
This is not my current situation but worth understanding – what does it mean for inherited IRAs that are with the beneficiary? Are they grandfathered in and the 10 year rule does not apply?
More importantly, are there any "good" ways to obtain a similar (not necessarily the same) benefit of the old stretch IRA? Funny anecdote but good hypothetical – my Pre-K aged son says he wants to marry my wife. I replied, "That's not an acceptable estate planning strategy." 🤣 Bypassing the ick factor and assuming adult aged, what if? What are the ramifications? Spouses take over the account as if it were their own, right?
So what’s the game plan for someone that inherits a large traditional IRA? Let’s say you make $50k a year. You inherit $5mil at 30 years old. Those distributions are going to be treated as income. So you’re taking over $500,000 a year (due to growth compounding as you go through 10 years).
You’re going to get taxed like crazy than what you’re used to. I’m not a fan of this act unless I’m missing something. It doesn’t seem like a good thing.
Secure Act BOOOOOO…..