New Secure 2.0 Rules: What Retirees Must Do Now!

In this video, Ed Slott and the host discuss the key changes introduced by the SECURE Act 2.0, which was signed into law on December 29, 2022. They break down its impact on retirement planning, particularly the new Required Minimum Distribution (RMD) age, which increases to 73 for those born between 1951-1959 and 75 starting in 2033. Slott highlights the importance of Roth conversions before RMDs begin to minimize taxes and create tax-free income streams. They also cover changes to Qualified Charitable Distributions (QCDs) and other provisions that affect retirees’ ability to control their finances. With humor and practical advice, Slott stresses the importance of working with a qualified financial professional to navigate these updates and optimize retirement savings.