We have a quick tactical nugget for you on this latest episode of the EmpowHER podcast. In this episode, Michelle Hipskind focuses on dissecting the changes brought about by the 2019 SECURE Act, with particular emphasis on the elimination of the “stretch IRA,” which imposes a 10-year limit for withdrawals for those inheriting IRA accounts. However, the podcast also sheds light on exceptions like qualified charitable distributions for beneficiaries close to 70 and a half years old.
“Let’s say that you are 65. A parent or an aunt, uncle, someone older than you passes away and leaves you an IRA account or funds from an IRA account. Because you have 10 years to empty that account and you are less than 10 years from 70 and a half, you are allowed to take qualified charitable distributions from that money.” – Michelle Hipskind
This week on The EmpowHER Podcast:
- Understanding the SECURE Act
- Hidden nuggets within the SECURE Act
- Examples of these hidden nuggets in action
About SYM Financial and The EmpowHER Podcast
The EmpowHER Podcast is a platform for women to come together to gain financial insight and strategies with a tribe of brilliant women. This show is brought to you by Financial Advisor Michelle Hipskind, CFP ®. Michelle educates on the many important aspects of financial planning and brings in additional professionals that provide advice in their areas of expertise, giving listeners access to the appropriate professionals that can help solve the problems many women face. In-person events are held in the Fort Wayne, Indiana area. In addition to the podcast, local events, webinars and blogs are available for all women who want to be part of the EmpowHER community.
Email Michell at mhipskind@sym.com with questions, comments, and to schedule a one-on-one conversation.
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Disclosure: Certain links above are to third-party sites and are not affiliated with SYM Financial Corporation (“SYM”). The opinions expressed herein are those of SYM and are subject to change without notice. This material is not financial advice or an offer to sell any product. This podcast is for informational purposes only and does not constitute investment, legal or tax advice and should not be used as a substitute for the advice of a professional legal or tax advisor. SYM reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. SYM is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about SYM including our investment strategies, fees and objectives can be found in our ADV Part 2, which is available upon request.
