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Time is our most precious resource and I thank you for allowing me to get a few minutes of your time each week. I hope you find the blog helpful and informative. Send me an email if there is ever a topic you would be interested in learning more about. I will research it and write a future blog about it.

Secure Act 2.0 What You Need To Know Thumbnail

Secure Act 2.0 What You Need To Know

If you'll recall, the original Secure Act was passed at the end of 2019. It raised the Retired Minimum Distributions (RMD) age to 72, limited Stretch IRAs to just 10 years, allowed you to pay off $10,000 of your student loans with a 529 plan, and mostly encouraged employers to provide better 401(k)s. Secure Act 2.0 provides additional changes, almost all of which are great for savers, investors, employees, and employers. Let's go over them.

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Tax Implications Of A Lifetime Monthly Pension Versus A One Time Lump Sum Cash Payment  Thumbnail

Tax Implications Of A Lifetime Monthly Pension Versus A One Time Lump Sum Cash Payment

Many of you will contemplate retirement this year and despite what the news is telling you, if you have a pension plan sometimes referred to as a defined benefit plan at your current employer, this could be a great time to retire. Most pension/defined benefit plans give you the option of taking a series of lifetime monthly payments or a one time lump sum cash payment. This is not a decision to take lightly or a decision to make quickly. This decision will affect you and your family for decades and even generations to come. And it has tax implications!

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