Tag: Secure Act

From Peter Reagan at Birch Gold Group

If you’re over 50 and planning for your future, you have a lot of decisions to make. You’ll be asking questions like this:

• How much should I be saving?
• How much can I save?
• How can I make up for lost time?

One idea to consider is called catch-up contributions. It’s one of the four secrets of successful savers used to enhance retirement savings.

Here’s a definition, courtesy of Investopedia:

…a type of retirement savings contribution that allows people aged 50 or older to make additional contributions to 401(k) accounts and individual retirement accounts (IRAs). When a catch-up contribution is made, the total contribution will be larger than the standard contribution limit.

For some, catch-up contributions are critical in preserving the ability to retire with financial flexibility. Especially true for individuals who have not been saving for retirement during their life, catch-up contributions may allow some individuals to have tax benefits as they strive to squeeze in retirement savings towards the end of the working career.

Continue reading “The Sneaky Wealth Tax Buried in the SECURE Act 2.0”

Guest Post by Simon Black

There seems to be an unwritten rule with lawmakers that, every time they create a terrible piece of legislation, they give it the most noble-sounding name.

The USA PATRIOT Act from 2001 was a great example. It sounds great. Who wouldn’t love a law named for Patriots?

And yet that was easily among the most freedom-killing laws ever passed in US history, giving the federal government nearly unlimited authority to wage war and spy on its own people.

There are so many other examples– the USA FREEDOM Act from 2015 (which renewed many of the worst provisions of the PATRIOT Act).

Or the HIRE Act from 2010, which created some of the most heinous tax rules of the last fifty years.

Continue reading “Congress courageously sticks US taxpayers with a $6 trillion liability”

From Birch Gold Group

On May 23, the House passed a bill known as the “SECURE Act” (HR 1994). The clever acronym stands for Setting Every Community Up for Retirement Enhancement.

The Senate has yet to pass the bill though, and seem to have delayed it pending some proposed revisions.

According to a Forbes piece, the bill “essentially has 29 provisions” aimed at making saving for retirement easier by providing enhanced access to 401(k) plans.

Continue reading “SECURE Act Reveals It’s Critical for You to Secure Your Own Retirement”