January Collier Scoop

Dear Valued Client(s),

Recently, our government passed the SECURE act (Setting Every Community Up for Retirement Enhancement Act), which took effect on January 1st this year.

I have attached a one-page summary that highlights some of the key changes, as well as, some additional detail regarding the specific provisions. Below are the Cliff Notes version of the changes we think impact our clients the most.

  • If you are under 70.5 and not currently required to take distributions from your retirement accounts, you can now wait until 72 to start those required distributions.

  • If you still have working income, you may be eligible to make a deductible contribution to your retirement accounts each year, regardless of age.

  • If you inherit a beneficiary IRA from a non-spouse, you will now have to liquidate the account in 10 years. Does not apply to existing Beneficiary IRA’s.

If you are affected by these adjustments, someone from our team will be contacting you in the next few weeks and let you know your options. We understand these changes could raise some questions so feel free to call us at 303-741-5040.

Sincerely,

Your Collier Financial Family

Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through Collier Financial, Inc., a registered investment advisor and separate entity from LPL Financial.

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