Retirement changes You Need to Know

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19 Jan 2023 Financial Planning Podcast

Ep 9: SECURE Act 2.0 – Retirement Changes You Need to Know

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.

So today, Scott will provide an overview for you in this episode by walking through some of the finer points of the SECURE Act 2.0. Plus, we’ll also spend a few minutes talking about the inflation adjustments to retirement plans that are coming and how much more you’ll be able to contribute.

Here is some of what you will learn in this episode:

The RMD age pushed back again from 72 to 73. (3:14)
The penalty for missing an RMD withdrawal has been reduced. (5:50)
People in their early 60s will have another chance to increase catch-up contributions. (7:33)
People paying off student loans might have the opportunity to receive their company 401(k) match. (10:18)
Inflation adjustments are being made in retirement accounts. (12:37)

If you have any questions about what we discussed or anything else in your financial plan, email us at office@bulmanwealth.com

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Ep 9: SECURE Act 2.0 – Retirement Changes You Need to Know

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