The SECURE 2.0 Act, was similarly enacted at year-end on December 29th, 2022. The legislation seeks to reform how Americans prepare for retirement while juggling current spending needs. Following is an overview of its key components.

Don’t forget to take your 2021 RMDs before year-end! Once you reach age 72, you must start taking withdrawals from your traditional retirement accounts to avoid tax penalties.

2 tax-efficient & strategic ways that may help you use/avoid RMDs in the future include:

+ Roth Conversions

+ Qualified Charitable Distributions (QCDs)

If you're planning a Roth conversion or evaluating the tax implications of Roth contributions, consider the barbell strategy for your retirement planning.