The Securing a Strong Retirement Act easily passed the House last week. Labeled “SECURE 2.0” by many, given it builds on some of the provisions recently passed by the SECURE Act. Designed to expand retirement plan coverage and increase savings, the proposed changes impact both individuals and companies. Here are
Growing and protecting wealth is a critical part of a successful retirement planning strategy – but the options and associated decisions seem endless. How do you know you’re making the right choices? Watch that first step The first step – and one of the most important – is choosing the
As the Build Back Better Act continues to unfold, more proposals are being revealed to the public – and many major changes are expected to become law. And one area expected to be highly impacted is retirement accounts for high net-worth individuals. Who’s impacted – and how? As stated above,
On Monday, September 13th, the House Ways & Means Committee proposed sweeping changes to retirement accounts for high-net-worth individuals. The proposals are aimed at reducing the dollar value of assets held in Individual Retirement Accounts (IRAs) for these high-net-worth individuals. Below are specific items included in the proposals:
COVID-19 created challenging financial conditions for businesses, individuals, and families alike, with stay-at-home orders and mandated closures forcing many businesses to cut hours, enforce furlough, or terminate employees. This had a cascading effect on income and savings as many of those impacted turned to distributions or plan loans to bridge
529 plans are an investment vehicle that allows taxpayers to save for all levels of education. Contributions are made with after-tax dollars, but accumulated earnings and qualified withdrawals are tax-free for federal taxes. If savings towards education for your child or another beneficiary is a priority to you, this type