What's the SECURE Act Mean to you?
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What's the SECURE Act Mean to you?
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During this 18th episode of the Simplifynance Podcast, host Rachel Stewart discusses the SECURE Act, what it means, and what parts might be relevant at this stage in life.
Episode Highlights:
- What is the SECURE Act and when it passed
- Company retirement plans now include part time employees
- Penalty free withdrawals for expanding families
- Life stage cash flow restrictions and credit card thoughts
- Using leftover funds from 529 plans
3 Key Points:
- The SECURE Act is a law that aims to strengthen someone’s ability to prepare for retirement.
- It’s crucial to work with an advisor BEFORE making withdrawals from retirement funds to cover newborn expenses.
- 529 account owners can actually withdraw up to $10,000 tax-free for to pay down qualified education loans on behalf of the beneficiaries.
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