Season 2 Episode 54: Changes in the SECURE Act for 2024 – and we answer your questions

Everyday Wealth

Jean Chatzky

Investing, Business, Education

2 • 935 Ratings

🗓️ 15 January 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

The SECURE 2.0 Act that passed in December 2022 has over 90 provisions to encourage more people to save for retirement. But weeding through those provisions can be daunting. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean and wealth planner Isabel Barrow go through some of those changes that may have a big impact on retirees and pre-retirees, including provisions to employer matching contributions for student loan payments, 529 plans and Roth IRAs.

Later, Jean and Isabel answer listener questions, like how much to withdraw annually from 401(k) plans in retirement, what to expect from Social Security in the future, and what options are available for health care coverage for retirees before age 65.

Ms. Chatzky receives cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore has an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show).

This show is pre-recorded, and any callers are prescreened.

The information being provided is for informational and educational purposes only and should not be construed as advice. You should consult a financial advisor to help determine the best options for your particular circumstances.

Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from your qualified tax and/or legal professionals to help determine the best options for your particular circumstances.

© 2024 Edelman Financial Engines, LLC. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All advisory services provided by Financial Engines Advisors L.L.C., a federally registered investment advisor. Certain services provided on an educational and guidance basis only. Results are not guaranteed. Produced January 2024.

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Content is for educational purposes only.
0:01.8	Consult a financial advisor or conduct your own due diligence if investing.
0:04.6	The show is pre-recorded.
0:05.6	Everyday Wealth is produced and created by Edelman Financial Engines and hosted by Gene Chatsky.
0:09.5	Ms. Chatsky is not an employee or client of the firm.
0:11.8	She receives fixed cash compensation as host and for related activities and therefore has an incentive
0:16.2	to endorse Edelman Financial Engines and its planners.
0:18.4	For additional information, please see W.W.
0:20.1	Edelman Financial Engines.com Every Day Well.
0:22.7	The 2022 top 100 independent advisory firm ranking
0:25.4	issued by Barron's is qualitative and quantitative,
0:27.4	including assets managed by the firm, technology spending,
0:29.7	staff diversity, succession planning, and other metrics.
0:31.9	Firms elect to participate, but do not pay to be included in the ranking.
0:34.6	Compensation is paid for use and distribution of rating.
0:36.6	Awarded September 2022 based on data within a 12-month period.
0:39.5	Investor experience and returns are not considered. At the intersection of life and money,
0:45.0	this is Edelman Financial Engines' everyday wealth.
0:48.0	With personal finance expert Jean Chatsky
0:51.0	Edelman has been ranked by Barron's as the number one investment
0:55.2	advisor in the country. Now here's Gene Chatsky.
0:58.4	Hey everyone, I'm Gene Chatsky. Thanks so much for joining me today for everyday well. So one of the things that has
	...

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