How SECURE 2.0 can affect your retirement planning

[@ELconomics101]

Top of the morning Coach!!

[@cruiz526]

Your videos are so helpful as I am studying! Can you make a video explaining the basis of securities, particularly stock options?

[@TheTaxGeek]

That subject is certainly on the radar for 2025. But it is a complex subject that would require some research to properly explain to people. Good luck with your studies.

[@miguelcubero3440]

Im curious, what is the benefit of removing form 8880, if it will be matched anyway from the IRS to their employer plan or IRA. Sounds like just some extra strings attached. But doesnt really affect the bottom line for the IRS in any tangible way. (All that said, I didnt read the provision so this opion is really an uNqualified one 😅)

[@TheTaxGeek]

The biggest problem with the "Saver's Credit" is that it's limited to tax liability. Many taxpayers have income low enough to claim the credit, but their low taxable income doesn't generate enough tax to be able to take the full Credit. I believe that the "Saver's Match" removes that limitation, giving most taxpayers more, but, by depositing the match into a retirement account (a) helps lower income people save for retirement and (b) cuts down on potential fraudulent Savers Match claims.

[@miguelcubero3440]

@@TheTaxGeek That is a good rational, especially when you mentioned about the potential to reduce fraudulent claims. That makes way more sense now, thanks!

[@miguelcubero3440]

❤

[@cruiz526]

I can't imagine making it to age 72 and then having to wait until you are 73 with all these age increases

[@TheTaxGeek]

You don't have to wait until you're 72 or 73 to take distributions--you can take them at any time. That age is when you MUST start taking distributions, whether you need to or not. In this case, the later the age, the better.