Adapt First Investments, LLC

SECURE 2.0 is here!!! So, what’s in it?

Setting Every Community Up for Retirement Enhancement (Secure) 2.0 Act of 2022 is now law, however, with any law there are still numerous steps and different iterations before they become enacted.
This is just a quick note describing some of the more important changes possibly on our way and is meant as a way for everyone to identify any changes that may impact them.
- Automatic Enrollments – Employers will be required to automatically enroll all new employees into their retirement plan ie. 401K at a contribution level of 3%
- 62 to 64 years old will be able to contribute an additional 10K per year to their 401Ks and IRA catch up provisions for folks over 50 would be increased due to current inflation levels starting in 2025
- If you are currently paying off student loans AND you are NOT contributing to your 401K, you would receive matching retirement contributions made by your employer up to a certain salary % into your 401K
- RMDs for seniors will increase again. The specifics are not clear yet but would impact most 72+ seniors in 2023. The latest I’ve read is age 73 in 2023 and age 75 by 2033. The incredible 50% penalty for folks who do not make their RMD withdrawal(s) will also be reduced to 25%, 10% if corrected in a timely manner
There is a little bit of change for a lot of folks so be sure to read up more on any pieces that may impact you or your family and be sure to reach out to your financial advisor, CPA etc to obtain the specifics.
Keep in mind the specifics regarding years implemented and specific numbers and percentages may change.
I hope this helps.

Tired of the bank model of giving you the LOWEST interest rate necessary to keep you, then using YOUR money to offer higher interest rate mortgages, car loans and credit cards products to others?
Tired of rising inflation eating away at your purchasing power? Chomp! Chomp!

Here at Adapt First Investments, LLC I work with my clients to develop a cash program taking advantage of several cash alternatives that are available.
One I will share with you today is I Bonds. What, give my money to the government? Yes!!
I Bonds are a safe place to park some money (10K max per person per year) and receive a favorable rate of return, currently 7.12%! New rates coming soon for May 2022.
As with all investments, educating oneself on any investment and identifying all of the risks associated, is very important, so please read all of the particulars.
I bonds are purchased through the enclosed link. Good luck and let me know if you picked some up. I would love the feedback!

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