In December of 2019, the SECURE Act passed leaving many retirees scratching their heads asking, “How, exactly, does this impact me in the end?” Then, by mid-March of 2020, the COVID-19 pandemic hit, creating a national emergency that we are still experiencing today. In other words, COVID-19 is NOT over. This triggered Congress to pass the CARES Act, which provides temporary relief, special distributions, rollovers and provisional loan rules for retirement accounts. What does this mean for you, exactly? It depends.
Today, we are going to cover the common COVID-19 questions from Ed Slott. Shea also has some interesting stats about the cost of healthcare in retirement (yup, it went up), and Heidi wants to tell you what NOT to keep in your safety deposit box at the bank.