From RMDs to student debt, SECURE 2.0 has something for everyone. Fidelity Viewpoints Key takeaways The penalty for failing to take an RMD decreased to 25% of the RMD amount, from 50%, and 10% if corrected in a timely manner within 2 years for IRAs. As of 2024, RMDs are no longer...
If our prayers aren't answered, let's hope our 401(k)s and IRAs don't get taxed out the wazoo come distribution time. If our hopes for a well-managed government are crushed, then surely we'll havedeveloped multiple income streamsby retirement so no one event can get us down! Inflation...
whichever comes later. The only exception is that you can make a one-time switch from one of the other two methods to the RMD method, which will normally result in a smaller payment. This might
the regulatory concern is that the deferred payments would cause the plan to violate the RMD rules.Under the RMD rules, a participant in a defined contribution plan generally must begin taking required minimum distributions by April 1 after the later of attainment ...
Although the Obamacare individual mandate has been repealed, the HSA rules haven’t changed so this strategy is still valid! Conclusion It’s great that all the tax-avoidance strategies I’ve written about over the years (except for the Roth IRA Horse Race) have survived the new legislation...