What Secure 2.0 Changes Mean For Your Retirement - 6/11/24 | Market Sense | Fidelity Investments

[@rb95051]

Miss the online webcast but glad I can catch up here. Good job!

[@celestial_sphere3]

I really enjoy the videos and events Fidelity puts out. I think this is a great thing. Keep up the good work.

[@fidelityinvestments]

You're welcome; glad this was helpful!

[@mannyortega6094]

If im paying a loan currently,can i do the secure 2.0 loan ?

[@HongNguyen-nt4kq]

What’s if the beneficiary not working, can we transfer money from 529 to his Roth IRA? Please advise

[@fidelityinvestments]

We appreciate you reaching out, Hong. To start, we recommend working with a tax advisor to review your personal situation as we cannot provide tax advice. That said, we're happy to share some general information on this topic. Starting this year, 529 account owners can roll over up to an aggregate lifetime limit of $35,000 from a 529 plan into a Roth IRA for the benefit of the 529 plan beneficiary. The rollover is subject to the yearly contribution limit and must be in the same name as the 529 plan beneficiary, among other limitations. The 529 plan must have been in existence for at least 15 years prior to the rollover and any 529 contributions made within the last 5 years are ineligible. We have more information on our website, which you can review below. Understanding 529 rollovers to a Roth IRA: www.fidelity.com/learning-center/personal-finance/529-rollover-to-roth Let us know if you have any additional questions!

[@Username_CC_]

Great show!

[@fidelityinvestments]

Thank you for the kind words, CC!

[@nazeercurry5248]

Great information 🎉🎉🎉🎉

[@fidelityinvestments]

We're glad you found it useful!

[@nazeercurry5248]

@@fidelityinvestments you're welcome 😊

[@tlar1272]

On one end of the spectrum, they are talking about not saving enough for retirement. A few minutes, they are talking about growing your savings until 75 for RMD. Is the assumption that they are working until 75? Or that they have 8 (75-67) years of savings outside of a 401k / IRA?

[@vladseva2327]

Exactly my thoughts.

[@vladseva2327]

I think the RMD change has nothing to do with helping people to save for retirement. This change helps rich people to avoid taxes. I guess that is why it was passed so easily by the congress. And all other changes are not so meanful in improving saving rates that she decided not to even mention them lol...

[@alrocky]

Q1 Changing RMD to 75 has no connection to assumption to working to 75. RequiredMD does not prevent you from withdrawing sooner and while working have no 401(k) RMD.

[@MeltingRubberZ28]

Tax deferred retirement accounts are a scam for most. Index funds are tax efficiency and long term cap gains for married couple is 0% up to 95k. Roth/taxable is all thats necessary for most. Take the company match for 401k and do the rest elsewhere.