Very late in 2019, which sometimes seems like an eternity ago, and with the waiving of mandatory distributions in 2020, due to several comments and questions this week we wanted to briefly remind folks.
RMD – Required Minimum Distributions Commence at age 72 Now!
This week we had several occasions to discuss and remind that as of December 2019 due to the Secure Act RMD’s (Required Minimum Distribution‘s) were moved up from age 70 1/2 to age 72. We will talk about this in much greater detail in our next quarter newsletter along with a more detailed post just directed at the RMD new age requirement and the various other items that were adjusted by the afore mentioned Secure Act!
Stimulus Payment Method Reminder
Also due to repeat conversations …always happy to have as you give us terrific content and others are certainly in the same situation … ok digressing… this week about the method of payment for the stimulus funds. As a reminder the IRS essentially issues us a rebate for the stimulus funds as such they’re using the banking instructions that they had on file for our 2019 tax return. If you had no banking instructions on file they will be mailing the stimulus.
Friday
OK sorry for being a little heavy on a rainy Friday .. here in Texas it’s been very overcast for almost a week which seems like a year this time of the year, but that’s OK enjoy your Friday … have a great weekend will talk to you 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.
December 2019 Podcast Video, Financial Planning and Capital Market Update – By John Kvale
Hello and Welcome to our December 2019 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 and current events!
December – 2019 Video
Financial Planning Tip (s) –
SECURE Act is Signed at the Finish Line of the Year
As mentioned here in our preview post, with a stroke of a pen on the Saturday before the Christmas week, the SECURE ACT (Setting Every Community Up for Retirement Enhancement) – Wow that is a mouthful!
The Biggies:
Tons of planning techniques and lots more to the law, but these again are the biggies!
Capital Market Comments –
FED Pauses and Markets Yawn… Finally
The FOMC (Federal Open Market Committee) led by Jerome Powell and company, FINALLY were able to not lower rates and market participants accepted it… Shhh, lets keep it our secret..haha
Happy 2020!
Have a Great Day – Talk to you at the end of January!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
street-cents
-96.808100
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Posted in Economy, FOMC, General Financial Planning, Interest Rates, Investing/Financial Planning, Market Comments, Monthly Review, Podcast, Tax Related, Video
Tagged Fed Funds Rate, FOMC, House Committee On Ways and Means, Secure Act