What Important Issues Should I Consider Regarding Changes Made By The Secure Act 2.0?

The SECURE Act 2.0 checklist is designed to individuals understand the important changes that affect them as a result of the act. The checklist highlights several key areas of financial planning that will be impacted, including retirement planning, 529-to-Roth transfer, new Emergency Savings Account, and the retroactive establishment of solo 401(k) plans.

It's important individuals to understand and prioritize the chronological order of the new changes so that they can effectively understand the changes. The checklist covers the changes made to retirement planning, including RMDs, employer contributions, and catch-up contributions, among others. It also highlights several new ways of accessing retirement funds without incurring a penalty.

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Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.