TAKE A BREAK
Change the Way You Save What to Expect From the SECURE 2.0 Act
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Get ready for more savings! Last year,
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the SECURE 2.0 Act added new provisions that may change how you
prepare for retirement. In order to
increase your savings come retirement, these changes aim to make
Inspired by ThePioneerWoman.com HOMEMADE DOLE WHIP
saving more manageable and enticing. They also lower the cost for employers
to offer savings plans within the company. Now, it’s more attractive for employers to offer savings plans for their employees, and employees will have better plan options to choose from! Here’s what you need to know! RMD Age Extended One of the most significant changes involves required minimum distributions (RMDs). The previous rules stated that retirees were required to make withdrawals from their retirement accounts when they turned 72 years old. Now, the RMD age is 73, providing you an extra year to save in your tax-free retirement accounts instead of taking those taxable distributions early. On Jan. 1, 2033, this threshold age will be raised again to 75. Penalties Cut in Half In the past, if you missed an RMD deadline, the penalty was 50% of the amount you should have taken. This penalty has been reduced to only 25% of the amount. If you fix your mistake within two years, the number could be reduced to 10%. Pre-Death Requirement Eliminated In 2024, the pre-death requirement for Roth 401(k) accounts will be removed. This means Roth IRA accounts are not subject to the RMD rules if the account holder passes away before the required distribution age. These changes to RMDs are just a few things the SECURE 2.0 Act has set in motion. To learn more about how to continue saving through your golden years, set up a strategy session with your trusted financial advisor!
The summer heat is on! And what better way to cool off after a long day in the sun than a refreshing bowl of Dole whip? This frozen treat has everything you need in a summer dessert: the tangy sweetness of pineapple and the creamy taste of vanilla ice cream.
Ingredients
• 1 tbsp lime juice • Pinch of sea salt
• 3/4 cup pineapple juice • 1 cup vanilla ice cream • 2 cups frozen pineapple
Directions 1. In a high-powered blender, combine all the ingredients. Blend on medium-high speed until smooth, stopping to push the pineapple chunks down into the blender as needed. 2. Transfer to a bowl; cover and freeze for 30 minutes. 3. Scoop and serve. Alternatively, transfer to a piping bag fitted with a large star tip, then pipe into small serving bowls. (This method will make it look like it came out of a soft serve machine.)
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