Octo Capital - Independent Fiduciary Financial Advisor in Bloomfield, Bingham Farms Michigan
  • Home
  • New Clients
  • Services
    • Services & Pricing
    • Investment Management
    • Financial Planning
    • Tax Planning
    • Fiduciary
    • Nobel-Worthy Ideas
    • Videos
  • About
  • Contact
  • Client Portal
  • Home
  • New Clients
  • Services
    • Services & Pricing
    • Investment Management
    • Financial Planning
    • Tax Planning
    • Fiduciary
    • Nobel-Worthy Ideas
    • Videos
  • About
  • Contact
  • Client Portal
Ph: 248-731-7729

Blog

Information on the SECURE ACT

12/28/2019

0 Comments

 

The setting every community Up for retirement act better known as the secure act was signed into law.

Here are the major changes:
  • RMDs Will Start age Age 72, not 70 ½- Starting Jan. 1, 2020, the new law pushes the age at which you need to start withdrawing money from your traditional IRA retirement accounts to age 72 from age 70 ½. If you turn 70 ½ in 2019, you will still need to take your RMD for 2019, no later than April 1 of 2020. If you are currently receiving RMD's (or should be) because you are over age 70 ½, you must continue to take RMD's. Only those who turn 70 ½ in 2020 (or later), may wait until age 72 to being taking required distributions.
  • You Can Contribute to Your Traditional IRA After Age 70 ½- Beginning in your 2020 tax year, the law will allow you to contribute to your traditional IRA in the year you turn 70 ½ and beyond, provided you have earned income. You still may not make 2019 (prior year) traditional IRA contributions if you are over 70 ½.
  • Inherited Retirement Accounts- Upon death of the account owner, distributions to individual beneficiaries must be made within 10 years. There are exceptions for spouses, disabled individuals, and individuals not more than 10 years younger than account owner. Minor children who are beneficiaries of IRA accounts also have a special exception to the 10 year rule, but only until they reach the age of majority.
  • Adoption/Birth expenses- Allows penalty-free withdrawals from retirement plans for birth or adoption expenses up to certain limits.
We will be publishing more information shortly.
If you have any questions, please contact our office at 248-731-7729 or click the following link to schedule a complimentary call: SCHEDULE 

Daniel Shub
AIF®, RFC®
Wealth Advisor and Founder
OCTO Capital Wealth Management
www.octo-capital.com


0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Picture

    Daniel Shub

    ​AIF®, RFC®

    Learn more about Daniel


    Picture

    Archives

    May 2020
    March 2020
    February 2020
    December 2019
    October 2019
    September 2019
    July 2019
    June 2019
    May 2019
    April 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    January 2017
    October 2016
    May 2016
    April 2016
    November 2015
    October 2015
    May 2015
    April 2015
    March 2015

    Categories

    All

    RSS Feed

Home | New Clients | About | Services and Pricing | Tax Planning
Nobel-Worthy Ideas | Fiduciary | Contact | Client Portal
ADV Part 2A | Legal
​Telephone: 248-731-7729
31600 Telegraph Road Suite 200
Bingham Farms, MI 48025
SECURE FILE UPLOAD
Picture

​©2022 OCTO Capital, LLC. OCTO Capital is a Michigan-based Investment Advisory Firm. We may only transact business in those states in which we are registered, or qualify for an exemption or exclusion from registration requirements.
​
​​Are you looking for a fiduciary financial advisor and retirement planner in Metro Detroit, Michigan? You've come to the right place. Octo Capital is serving clients in Michigan, including Bingham Farms, Bloomfield Hills, Troy, Rochester, West Bloomfield, Birmingham, Farmington Hills, Rochester Hills, Sterling Heights, Shelby Twp, Livonia, and Northville. We also work with clients located in other states*. We provide comprehensive financial planning and investment management. Our services include retirement income planning, cash flow projections, tax-efficient placement of assets, strategic tax-loss harvesting, coordination of all income sources in retirement, detailed analysis of tax returns focused on tax-saving opportunities, and more.
  • Home
  • New Clients
  • Services
    • Services & Pricing
    • Investment Management
    • Financial Planning
    • Tax Planning
    • Fiduciary
    • Nobel-Worthy Ideas
    • Videos
  • About
  • Contact
  • Client Portal