Retirement Elevated Podcast with Sean Lee

The SECURE Act - RMD & Inherited IRA Surprises

What’s the latest news about the SECURE Act and inherited IRAs? The SECURE Act was the death of the stretch IRA. Previously, inheritors were allowed to stretch out the withdrawals of the inherited IRA over their life expectancy. The SECURE Act that was enacted at the beginning of 2020 changed things to the 10-year rule. But is it what we thought it was?

 

Read more and get additional financial resources here: https://wp.me/paeqsR-c7 

 

What we discuss on this episode: 

0:20 - Sean is living the spring dream.

1:20 - The RMD rule in the SECURE Act is not what you think.

2:36 - What is the new rule?

5:04 - What happens if someone leaves you money in your prime income years?

7:05 - Are you tax planning?

8:45 - What questions should you ask your advisor?

Getting The Right Mindset For Retirement

Have you stopped to think about what you want retirement to look like? Past your financials, retirement planning has a lot to do with your goals and wants when it comes to how you plan to spend your time. Today, Sean talks with Daniel Allgaier, CFP®, about the mindset and the end goal when it comes to retirement.

 

Read more and get additional financial resources here: https://wp.me/paeqsR-bU 

 

What we discuss on this episode: 

2:07 - When you build your financial plan, what’s the math problem? 

3:38 - What will you do in retirement?

5:30 - Retirement is a big change.

7:59 - Have a mapped out plan about your time in retirement.

10:13 - Act as if you’re retired already.

13:28 - Are you prepared for what retirement is?

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