What You Need to Know About the SECURE Act

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Americans will be getting the most significant retirement legislation in more than a decade after Congress passed the SECURE Act near the end of 2019. Let’s talk about the biggest changes you need to be aware of, how this can benefit you, and where there might be some concerns.

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The View From The Pinnacle

Americans will be getting the most significant retirement legislation in more than a decade after Congress passed the SECURE Act near the end of 2019. Let’s talk about the biggest changes you need to be aware of, how this can benefit you, and where there might be some concerns.

Apple PodcastsGoogle PodcastsPlayer EmbedShareLeave a ReviewListen in a New WindowDownloadSoundCloudStitcherSubscribe on AndroidSubscribe via RSSSpotify

Click the timestamps below to fast forward to certain points of the episode.

 

Thing’s You’ll Learn Along Today’s Journey

The new year will bring fresh changes to retirement accounts and investors are curious how The Setting Every Community Up for Retirement Enhancement – or SECURE Act – will impact them.

We wanted to get Sean Lee’s perspective on the new legislation that passed in Congress as part of a larger spending bill so we’ll use this episode of Your Retirement Elevated to give you the key takeaways. This is set to bring the most significant changes to retirement accounts in nearly 15 years so it’s something all investors need to pay close attention to.

As Sean points out on the show, this really provides a major opportunity for people if it’s handled strategically, which he will go into detail on. Plus, it’s a chance to really pay attention to taxes and structure a plan to minimize your obligations as more and more wealth is transferred in our country.

It’s definitely an exciting time and many people are curious to see what effect this will all have in 2020. Now is the time to sit down with your advisor and determine the best route for you and your retirement plan so that you can take full advantage of the SECURE Act.

Listen to the full episode or click on the timestamps below to hear a specific segment.

0:12 – Let’s start with what the SECURE Act is.  

1:40 – Some big changes coming to the Required Minimum Distribution rules.  

3:29 – The Stretch IRA changes could be seen as a negative.  

6:38 – Is 2020 a lost year for RMDs?  

8:39 – What affect does this legislation have on small businesses?

11:22 – There will be increased annuity options within retirement plans. Is that good or bad?

14:20 – Removal of age limitations on IRA contributions.

 

Looking Back From The Mountaintop

There are some pieces in the SECURE Act that if you strategically plan properly can have a dramatic effect on your plan. -Sean Lee
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MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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Questions for Sean?

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Investment Advisory Services offered through Elevated Capital Advisors, LLC, an SEC Registered Investment Advisor. Insurance products and services are offered through Elevated Financial Services, LLC.

*Guarantees provided by insurance products are backed by the claims-paying ability of the issuing carrier.

The retirement kit is provided for informational purposes only. It is not intended to provide tax or legal advice. By requesting this report, you may be provided with information regarding the purchase of insurance and investment products in the future.

Investment Advisory Services offered through Elevated Capital Advisors, LLC, an SEC Registered Investment Advisor. Insurance products and services are offered through Elevated Financial Services, LLC.

*Guarantees provided by insurance products are backed by the claims-paying ability of the issuing carrier.

The retirement kit is provided for informational purposes only. It is not intended to provide tax or legal advice. By requesting this report, you may be provided with information regarding the purchase of insurance and investment products in the future.