RMDs

Required Minimum Distributions & Social Security

Required Minimum Distributions (RMDs) are the one drawback to retirement plans like the 401k and traditional IRAs.  While the law was recently changed to increase the age that RMDs must begin to 72, the distributions can push people’s income up…

The CARES Act and Deferred Savings Accounts

In a post on baxterbulletin.com, The Savvy Senior’s Jim Miller addresses the retirement account changes implemented as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, specifically covering the matter of hardship withdrawals, loan limits, and required minimum distributions (RMDs).…

Congress Passes the “CARES Act,” Including Relief Payments to Social Security Recipients

The “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” passed today in Congress, designed to provide for substantial stabilization in America’s economy during the unprecedented medical crisis sweeping the country. As approved, the Act provides critically needed funding in…

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