Ep 31: Breaking Down the EARN Act

Money Chic: Financial Education with Shari Rash

A recent article from The Hill breaks down the potential EARN Act working its way through our government right now. Sort of like a Secure Act 2.0, the EARN Act could change essential things about retirement planning.

One of the biggest changes could be to RMD age requirements. It may push those RMDs to 75 for more tax growth. It also allows pre-retirees to save $10,000 more between the ages of 60 and 63. So, what do we think about these possible retirement planning changes and how could they make planning more flexible?

The article mentioned in today’s show: Senate retirement bill benefits wealthy Americans | The Hill

What we discuss on the show:

1:29 – RMD age moving to 75

6:53 – Saving $10,000 more between 60 and 63

8:27 – It allows you the flexibility to save more

9:42 – Are Roth IRAs really a gimmick?

13:26 – B-partisan support for this bill

Get additional information: https://greenwaywealthadvisory.com/podcast/