Forbes: The SECURE 2.0 Act’s Impact on Roth IRAs (December 22, 2022)

Forbes has published an article, “The SECURE 2.0 Act’s Impact on Roth IRAs,” which discusses the impacts Roth IRAs will experience as a result of the SECURE 2.0 Act and how to adjust one’s plans accordingly to these effects. The article begins as follows:

As a special Christmas present to all of us, the Secure Act 2.0 is expected to become law right before the holiday.

The SECURE Act 2.0 caught a ride on the $1.7 trillion omnibus spending bill that was unveiled on December 19. While the bill presents numerous changes to existing retirement savings and withdrawal rules, as my present to you, I’ve jumped right in to analyzing what the sweeping changes mean for your Roth IRAs in particular.

Roth IRAs are good tools for various reasons. As I’ve written in the past, they are underutilized retirement savings and investment vehicles that offer a number of tax and liquidity benefits. They are also a valuable tool for people who don’t have access to an employer-sponsored retirement plan, which is roughly half of private sector employees ages 18 to 64, according to AARP.

I’ll dive into the provisions in the Secure Act 2.0 that will impact Roth accounts and whether they are positive, negative, mixed, or neutral.

Click here to view the full article: “The SECURE 2.0 Act’s Impact on Roth IRAs”

Posted by Melissa Zheng, Associate Editor, Wealth Strategies Journal.

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