To stay current with all that’s happening in the financial world and beyond, I do quite a bit of reading. Here are a few items I came across this past week I thought were worth sharing.
Congress set to pass SECURE act at last minute, impacting retirement planning and increasing taxes (Forbes)
In this bill that Trump is likely to sign, there will be some significant changes to IRA accounts and 401K plans beginning in January. This article covers them in detail. Here are a couple that stand out.
For IRA’s, the age when required minimum distributions must start increases from 70.5 to 72. And in what is essentially a tax increase, inherited IRA’s will now have to be depleted within 10 years instead of over the beneficiary’s lifetime. This may require some changes to estate plans, especially those involving trusts.
Boomers have outgrown real Christmas trees (Washington Post)
As someone who saw my parents switch from real trees to an artificial one after my sister and I left home, this article makes sense. Still, I’m shocked that only 21% of households have a real tree.
The top infographics of 2019 (Visual Capitalist)
It’s the time of year for lists. And since it’s the last year of the decade, there are also an impossible number of “The top (insert category here) of the decade”. Here’s one I like that’s finance related. Number 16 is eye opening.