February 2020 - Keller & Associates CPAs, PLLC

The SECURE Act and Your Retirement Savings

February 21, 2020

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted in December 2019 as part of a larger federal spending package. This long-awaited legislation expands savings opportunities for workers and includes new requirements and incentives for employers that provide retirement benefits. At the same time, it restricts a popular estate planning strategy for individuals with significant assets in IRAs and employer-sponsored retirement plans.

Here are some of the changes that may affect your retirement, tax, and estate planning strategies. All of these provisions were effective January 1, 2020, unless otherwise noted.

Myths and Facts about Social Security

February 20, 2020

Myth: Social Security will provide most of the income you need in retirement.

Fact: It’s likely that Social Security will provide a smaller portion of retirement income than you expect

Social Security Retirement Benefit Basics

February 12, 2020

Social Security benefits are a major source of retirement income for most people. Your Social Security retirement benefit is based on the number of years you’ve been working and the amount you’ve earned. When you begin taking Social Security benefits also greatly affects the size of your benefit.

Staying on Track with Your Retirement Investments

February 1, 2020

Investing for your retirement isn’t about getting rich quick. More often, it’s about having a game plan that you can live with over a long time. You wouldn’t expect to be able to play the piano without learning the basics and practicing. Investing for your retirement over the long term also takes a little knowledge and discipline. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, there are ways to help yourself build your retirement nest egg.

The SECURE Act and Your Retirement Savings

Myths and Facts about Social Security

Social Security Retirement Benefit Basics

Staying on Track with Your Retirement Investments

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