Ep 166: SECURE Act 2.0 - RMD & Roth Changes (Part 1)
About this episode
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 on this episode:
- RMD age extended to age 73 for some and 75 for others. (1:05)
- The RMD penalty has been reduced. (3:35)
- There are no longer RMDs for any Roth account (5:09)
- Catch-up contributions to company plans will have to do into the Roth for high-income earners. (11:22)
- The ability to move money from a 529 plan to a Roth…with restrictions. (13:31)
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Get every episode summarized
Each time Phil's Tax Hacks publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from Phil's Tax Hacks
Volunteering: The Best Investment You Might Make In Retirement
Phil's Tax Hacks
A New Proposal Might Cap Your Social Security Payments
Phil's Tax Hacks
The Surprisingly Hard Part of Retirement Nobody Warns You About
Phil's Tax Hacks
What Happens to Your Retirement When Your Income Isn't Predictable?
Phil's Tax Hacks