As if retirement wasn’t already complex enough, congress went ahead and added/changed a bunch of rules as part of their latest spending bill, dubbed “Secure 2.0” following the original “Secure Act” of 2019. The new/updated rules in this bill don’t have quite the impact of some of the items in the first bill, but what it lacks in significance, it makes up for in volume.
This is a totally reasonable question for someone to be asking. In fact, it’s a question I have asked myself many times over the years and will continue to ask for as long as I do this job. Believe me, if there is a way to reduce my clients’ downside risk without harming their upside potential, I want to know about it at least as badly as you do!
Why is the headline image for this post a pair of Golden Retriever puppies instead of a scary looking chart of the stock market? Because wouldn't you rather see a picture of a pair of Golden Retriever puppies😊?
The backdoor and mega-backdoor Roth IRA contribution/conversion might be extinct after 2021. As part of the Democrats’ House Ways and Means proposal, Roth IRA conversions of after-tax contributions will not be allowed starting in 2022.