How SECURE 2.0 can affect your retirement planning
SECURE 2.0 is an extension of the original SECURE Act of 2019, with an overall goal of making it easier to put money aside for retirement. This video details the provisions of the law that were in effect before 2024, provisions that are coming on line this year, and provisions taking effect in 2025 and beyond.
0:00 Introduction
0:38 What is SECURE 2.0?
1:33 Provisions in effect before 2024
2:27 Provisions taking effect in 2024
4:25 SECURE 2.0 in 2025 and beyond
To learn more about RMDs in general, click here: • What is a Required Minimum Distribution?
For additional information on IRA Contributions, click here: • IRA 101: Contributions
The original video on 529 Plans can be found here: • Saving for college the tax free way with a...
Additional Information and Resources:
The summary text of the entire SECURE 2.0 Act can be found here: https://www.finance.senate.gov/downlo...
Kiplinger.com: "The SECURE 2.0 Act makes major changes to 401(k), IRA, Roth, and other retirement savings plans": https://www.kiplinger.com/retirement/...
HR representatives share their successes with automatic 401(k) enrollment: https://www.reddit.com/r/humanresourc...
nerdwallet.com: "What Secure 2.0 Act Means for Your Retirement": https://www.nerdwallet.com/article/in...
The Tax Geek on the Site Formerly Known as Twitter: @taxgeekusa
The Tax Geek on Reddit: www.reddit.com/r/askataxgeek
Image and footage credits:
Storyblocks.com
Wikimedia Commons
NO ARTIFICIAL INTELLIGENCE WAS USED TO WRITE, EDIT, ANIMATE, VOICE, OR EDIT THIS VIDEO
Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Creator Music
Outro Music: "Modern Attempt" - Track Tribe under license from YouTube Creator Music
DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or financial advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or financial professional.