How The SECURE Act Changes Retirement Planning

How the SECURE Act changes retirement planning for you and your children and grandchildren is worth knowing. Here’s a handout you might enjoy as you view the videos below about the SECURE Act.

The SECURE Act (Setting Every Community Up for Retirement Enhancement – they had a government committee up all night working on that one) was passed in December 2019 and and the 2.0 add-on was passed in December 2022. With roughly 100 provisions, mostly around retirement plans, you can imagine there’s both good news and bad news. Despite it’s title, there are some provisions that do more to secure the government and the I.R.S. than the tax payers.

However, there is some good news, too: more time to save, more ways to save, new ways to use your money, etc., but the death of the stretch will provide a lot of payback for the government.

Most of these provisions are effective 2024, but others are pushed out to 2028 – and the impact is far-reaching, all the way from the silent generation to the Gen-Z’ers who will be the recipients of a great wealth transfer in the coming decades.

The benefits that come today, however, do carry a price tag that may very well be paid by our children and grandchildren – securing the government’s income rather than their own.

I’m posting a series of short videos about how the SECURE Act changes retirement planning. More will be added and posted here as well. I hope you’ll find them helpful.

Enjoy! And, if you’d like some help with your retirement planning, Just click on the Getting Started tab or go here!

  1. Video #1: More Time to Save  (11:11)
  2. Video #2: More Ways to Save (13:51)
  3. Video #3: More Ways to Use your Money (11:16)
  4. Video #4: Death of the Stretch! Not good news for your kids and grandkids who may be in their peak earning years when they inherit. (11:18)

Hope you find these helpful. There are more videos in the Video Library under the Resources tab.

Jim

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Jim Lorenzen, CFP®, AIF®

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor. He is also licensed for insurance as an independent agent under California license 0C00742.  IFG helps specializes in crafting wealth design strategies around life goals by using a proven planning process coupled with a cost-conscious objective and non-conflicted risk management philosophy.

Opinions expressed are those of the author.  The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

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Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor. He is also licensed for insurance as an independent agent under California license 0C00742.

Schedule Your 20-Minute
“Right Fit” Introductory Call Now!