Retirement Resources President, Dave Boike Tells His Readers About Some Of The Changes As A Result O
Retirement Resources President and Investment Advisor, Dave Boike, highlights some of the changes that are part of the biggest change to the U.S. retirement system since 2006 and suggests readers meet with their financial advisors to find out how the new act is likely to affect their retirement plans.
Auburn Hills, MI — January 6, 2020— Dave Boike, President of Retirement Resources and co-author of The Ultimate Success Guide with Brian Tracy published a new blog post on the company website entitled, “Welcome To The Biggest Change To The U.S Retirement System Since 2006,” in which Mr. Boike lets readers know there are big changes that they need to be informed about.
Boke writes, “Happy New Year. Happy New Decade. And yes, welcome to a change in the U.S. Retirement system that will affect anyone who has a retirement account.” He adds, “It might be a happy change for some, but not for others.”
According to Boike, “On January 1, 2020, the recently passed Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect. And it will affect everyone who has a retirement account.” He states, “There are multiple changes that could affect account holders immediately, and for this reason you may want to schedule a meeting with your financial advisor.”
“For example,” says Boike, “the SECURE Act increases the Required Minimum Distribution (RMD) age to 72 from 70 ½ and applies to anyone who turns 70 ½ in 2020 or later. Also, if you don’t need income from your retirement plan or IRA accounts, the SECURE Act enables you to defer taxes from those accounts.” He confirms, “That means that if you want to work beyond the traditional retirement age, the later RMD age provides more time for retirement income planning.”
Read the entire blog post at https://www.theretirementresource.org/single-post/2020/01/03/Welcome-To-The-Biggest-Change-To-The-US-Retirement-System-Since-2006
About Dave Boike
Dave is a well-known financial educator, co-author of The Ultimate Success Guide with Brian Tracy, author of High Tide and contributing author of 21st Century Wealth. For over 30 years, Dave has been teaching investors age 55+ how to preserve their assets, increase their income, and reduce income taxes. He has taught Retirement Planning Classes at Michigan State University, Wayne State University and Oakland Community College.
For over 4 years, Dave was featured on NBC25 every weeknight at 6PM, discussing the daily market wrap-up. Many area retirees have used Dave’s advice to enjoy a financially independent retirement.
Dave is a Chartered Financial Consultant, a designation awarded only to the most experienced advisors who have completed a 10-course program of study, through the American College in Pennsylvania, focusing on Tax, Investment, Risk Management, Retirement and Estate Planning. He is an approved Member of the International Association of Registered Financial Planners, the Society of Financial Service Professionals. As a strong advocate of education, Dave recently spoke at The Michigan Association of CPA’s and is teaching a class at Oakland Community College.
Dave’s latest book, High Tide, A Practical Guide for Affluent Retirees to Protect, Profit and Prosper from the Coming Storm, talks specifically on the important challenges retirees are facing today and some new cutting-edge solutions to address those challenges. He teaches you in this easy to read book how to take the steps necessary to achieve your successful retirement.
Dave is Managing Member and Chief Compliance Officer of Retirement Resources, LLC, a Registered Investment Advisory Firm. Every year, since 2011, Retirement Resources has been awarded the 5 Star Wealth Manager of Michigan, which is only given to the top 7% of advisory firms.
This content is provided for informational and educational purposes only. The information, analysis and opinions expressed herein reflect our judgment as of the date of writing and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. All investments carry a certain risk and there is no assurance that an investment will provide positive performance over any period of time. Information obtained from third party resources is believed to be reliable but not guaranteed. Past performance is not indicative of future results.