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Changing Rules for Retirement Savings - Bankrate

In the last days of 2022, the Secure Act 2.0 became law, thus changing the rules governing your retirement savings starting in 2023. For one thing, the age at which you must start taking Required Minimum Distributions (RMDs) from your tax-deferred savings has gone up from age 72 to 73, and will eventually go up to age 75. That’s good news for those who want to leave their money grow a bit longer before starting withdrawals and paying taxes thereon. But the Secure Act also contained a number of other changes which are also good news for affected seniors, as explained in the Bankrate article by James Royal.

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