What does the new SECURE Act mean for you and your retirement?

At the start of 2020, President Trump signed the SECURE Act. What does the Setting Every Community Up for Retirement Enhancement mean for you? There are quite a few changes that were made to retirement savings options. As a bank, we cannot provide investment or tax advice but we CAN help you be aware of things that could impact your financial situation now or in the future.

In the interest of helping you expand your knowledge of this act and the implications for your situation, we’ve provided a few websites for you to review.

Once you’ve reviewed these websites, check with your financial advisor or tax planner to see what are the best steps for you. We wish you a happy retirement…whenever it happens!

https://www.fidelity.com/learning-center/personal-finance/retirement/understanding-the-secure-act-and-retirement

https://www.investopedia.com/what-is-secure-act-how-affect-retirement-4692743

https://www.fool.com/retirement/2020/01/22/2-ways-the-new-secure-act-benefits-retirement-save.aspx

https://www.marketwatch.com/story/secure-act-includes-one-critical-tax-change-that-will-send-estate-planners-reeling-2019-12-30


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