Tag Archives: Secure Act 2.0

529 to Roth Possible New Rule from Secure Act 2.0 … Long weekend … Friday the 13th!

While researching the afore mentioned Secure Act 2.0 about a week ago… recall this 4200 page monster was released on December 27th, 2022 …

Some talk in the beast is about unused 529’s being able to roll over into a Roth….

This caught the eye/ear and a note was made. A possible use of this came up this week, so further research is needed as there were a ton of hurdles (like a 15 year waiting period, just to name one) to allow this transaction AND we will likely have updates during the year to clarify this possibility.

With a use already a possibility, we wanted to bring this to your attention and let you know we will be doing further research for clarity! yay

Long Weekend

Monday is a Holiday in honor of Martin Luther King day, as such banks, government offices and our office will be closed as well.

Today is a Friday the 13th spooky … enjoy your day and the weekend…talk next week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

December 2022 Financial Planning and Capital Market Review – Secure Act 2.0 – By John Kvale CFA, CFP

Hello and Welcome to our December 2022 … Financial Planning and Capital Market Update!

If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!

Newbies –

We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets thoughts and current events!

Hope you enjoy!

December 2022 Video


YouTube

Financial Planning Tip(s)

Secure Act 2.0 – Passed on 12-27-22 Quietly …. Shhhhh we are working through the details

On December 27, 2022 a HUGE bill … over 4000 pages, was passed…. while not sweeping in our neck of the woods, there is one main adjustment….

RMD – Required Minimum Distributions are pushed out again to age 73! Not Kidding!

Capital Market Comments

Rate Increase – Fed Raised rates for the Holidays

In December the FOMC (Federal Open Market Committee) led by Jerome Powell raised rates, but only by .50% … but it was a raise…

Have a Great Day, Talk to You at the End of January – Happy 2023!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

Seasons Greetings, Happy Holidays, Merry Christmas …. Financial stuff “Heads Up” Secure Act 2.0!

Wishing everyone a Season’s Greeting, Happy Holidays and a Merry Christmas!

As a “Heads Up” in the Financial world, there is a Bill (Secure Act 2.0 aka HR 2954) going through Congress that is likely to pass before years end … Recall in late December of 2019 Secure Act 1.0 was passed and signed into law, only to be lost in the multitude of laws around the virus and relief…

While not into law yet…. a few high points include:

Another increase in RMD (Required Minimum Distributions) age to 73 – currently age 72

401k and other similar increased contribution levels

Will keep you posted… but wanted to let you know we are watching closely!

Best Wishes and Have a Safe and Happy Holidays!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents