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Nine Changes from The SECURE ACT You need to know by Michael Tannery

Nine Changes from The SECURE ACT You need to know by Michael Tannery

Last week’s blog Timeout was a lead to the coming weeks as being focused on how to make you “wealthier”.  We interrupt the planned schedule to give you the latest change to your retirement, estate, and tax planning courtesy of Congress and President Trump.  These changes are going to impact all of you in your planning and financial life.

As has become usual practice, Congress passed some meaningful tax legislation as it recessed for the holidays.

THE SECURE ACT

In one of the new meaningful laws, passed on December 19, you will find the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act).

The SECURE Act made many changes to how you save money for your retirement, how you use your money in retirement, and how you can better use your Section 529 plans.

Whether you are age 35 or age 75, these changes affect you.

Here are nine of the changes.

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Four Steps to Wealth in 2020 by Michael Tannery

Four Steps to Wealth in 2020 by Michael Tannery

Happy New Year to you and your family.

Tina and I were excited to see 2019 close the curtain and the dawning of a new year and a new decade.  Last year we had all the fun we could handle in one year.

What is Wealth?

According to merriam-webster.com Wealth is an abundance of valuable material possessions or resources.

Resources, of course, can mean valuable resources yet what are resources?  Do they always mean money?  No, valuable resources also include our time, our health and our community and of course money.

Over the next four weeks, I am going to set out ideas for you in ways to make your life “wealthier”.

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