This could be an opportune time to consider transferring wealth to future generations—by transferring assets (at lower values) and taking advantage of historically low interest rates. As the world continues to face these unprecedented times, we at Fairman Group Family Office want you to know that we are available to help you with all your financial planning needs.
The January 2020 edition of Fairman Group Perspectives highlights the retirement plan changes, Medicare costs, and college costs and trends.
While there are several positive outcomes to the SECURE Act, such as being able to contribute to an IRA beyond age 70 ½ and increasing the Required Minimum Distribution (RMD) age to 72, there is also a potentially negative outcome regarding inherited IRAs.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is one of the biggest pieces of legislation regarding retirement plans in recent memory. As with any update to the tax and retirement planning landscape, it’s important to review your particular situation to understand the potential effects of these changes.
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