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Changes in RMDs and Small Business Struggles

May 14, 2020

The Principle:

It seems like each week brings us a new thing to consider as we continue to get you ready for retirement, so let’s discuss the changes in RMDs and legislation that’s trying to help small businesses.

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

Honest Takes – Changes in RMDs:

Hindsight is always 20/20, but what would Brian have done back in February before the market went down?

A lot of people scaled back at the beginning of the year, whereas some clients wanted to get more aggressive in their investments. It’s important to keep perspective on the market and how it can’t always be going up.

Right now, with the CARES Act, RMDs are waived for this year, and Forbes is speculating that Congress may soon abolish RMDs. Add that to last year when the stretch IRA was eliminated. Would that leave us any tax-favored options in terms of estate planning?

Whether you are still working or not, the economy is struggling. From retail stores and gyms that are filing bankruptcy to restaurants that can’t open their doors, there will be a lot of changes moving forward. How will this impact the commercial real estate market? What will happen once the funds provided from the PPPs runs out?

Listen to the full episode or click on the timestamps below to hear a specific segment.

[0:16] – If you could go back in February, what would you have done differently?

[2:14] – Last year, the stretch IRA was eliminated.

[3:35] – What happened with the CARES Act and RMDs?

[4:33] – Several retail stores are filing bankruptcy since they can’t open up.

[6:49] – What is happening with commercial real estate?