Creating Family Wealth

You may think that selecting great investments is the key to building wealth. While important, many financial professionals backed by academic research share that asset allocation, or the spreading of your investment portfolio over different areas of the investment markets, holds the larger key to your investment growth. Watch this video to learn strategies on how to implement asset allocation for your portfolio.

YouTube Link: Picking the right MIX of Investments may be more important that picking the right investment.

The Stretch IRA permitted non-spouse beneficiaries to stretch their distributions of an inherited IRA over their lifetime. This strategy was outlawed as part of the Secure Act that took effect on January 1, 2020. Now, non-spouse beneficiaries must distribute the full value of an inherited IRA within 10 years. If the inherited IRA was funded with pre-tax dollars the ending of the Stretch IRA may create a huge tax bill for your beneficiaries. This change may make the government a significant beneficiary of your hard earned retirement savings. Please consult your tax or legal advisor for a complete understanding of how the ending of the Stretch IRA may impact your IRA accounts.

YouTube Link: The Stretch IRA is outlawed. What to consider now that this key planning strategy is history.