Broker Check

Schwab's Insight on the SECURE Act

| January 29, 2020

Good morning.  Schwab’s recent article reports on six things we should know about the SECURE Act:


  1. RMDs start at age 72 now, not 70.5, but only for those who turn 72 on 1/1/2020 or later
  2. Traditional IRA contribution can be made after age 70.5, if you’re still working
  3. Qualified Charitable Distributions are allowed still at age 70.5
  4. Inherited IRA rules have changed—if you have one, check with your tax pro to see if the changes affect you or if you are grandfathered in to old rules
  5. Penalty-free (but not tax-free) withdrawals for birth/adoption expenses are now allowed
  6. 529 education savings plans can be tapped to pay student loans, up to $10k per person


Click here for the article.  Contact me with any questions about your financial planning or investments, or if you need referral to a great tax, insurance, or legal professional.


Thank you.




Garo Linck Partoyan

Potomac Wealth Strategies, LLC

1800 Diagonal Road, Suite 600

Alexandria, Virginia  22314

(703) 746-8195 phone

(855) 347-9483 fax


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