I’m sitting dock side at a beautiful Marina in the town of Point Loma enjoying a quiet birthday respite. It was quiet until Wilma, Betty, Barney and Fred showed up and popped a squat a few socially distanced feet away.  All was peaceful until a conversation about The Coronavirus Air Relief and Economic Security Act (CARES Act) of all things, got a little heated.  Well that got me thinking, which is never a good thing according to my lovely bride by the way.  There are a host of features and implications of this Cares Act and as most things “government” they can be complicated.  That said, I thought we would break down a few of the key pieces that you should be aware of:

A host of IRA experts including mentor Elliot Raphaelson, and the illustrious Ed Slott believe that the IRS will eventually issue a revision to its policy and allow all RMDs taken out this year to be eligible for rollover.  What I enjoyed the most about the conversation Wilma and the gang were having is that they were aware of changes and the impact those changes could have on them and their retirement lifestyle.  All too many of us leave too much of our future to “hope” and that is simply not a successful strategy!  Always remember, keep it simple, and “The More you Learn the More you Earn” (and keep)!

 

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