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How to make it, spend it, and invest it

1 Oct 2019

Mastering Money 10/1/19

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Post by MoneyRadio Staff

Have you heard about the new Bill that passed in the House of Representatives that would raise the age for taking RMD withdrawals from the current age of 70 ½ to age 72? Well, it still has to pass the Senate, but attorneys and accountants warn that required minimum distribution planning is only a small part of the bill. The IRS will miss almost a billion dollars a year in revenue from moving to age 72. But don’t worry, they still have several ways to take it out of your hide! You need to be aware of how what is known as the SECURE Act will likely affect your estate and tax planning decisions going forward. One casualty is the “Stretch IRA”. it will be done away with. Steve and I will have the details for you today and then former probate litigator and now estate planning attorney LIBBY BANKS joins us for the Q & A. Don’t miss today’s show–MASTERING MONEY is on the air!!!