Thought Leaders in a World of Canned Content

The SECURE ACT has eliminated the “stretch” provision as an option for most non-spouse beneficiaries of inherited retirement accounts. Replacing the “stretch” IRA (or stretch 401k), in many instances, is a new 10-Year Rule, which requires that an inherited retirement account be emptied by the end of the 10th year after the year of death. Before we move on to how it works now and why this is such a big change, prior to the SECURE ACT, let’s review how this did, and still does work in some instances.

U.S. stocks closed out Q1 with their worst performance since the depths of the 2008-2009 financial crisis.

Yesterday the House approved the CARES Act and the president signed it into law. This is the largest emergency relief program ever released by the government at whopping $2tillion. There are a vast array of provisions and not all of them will be applicable to you but it’s important to know what your options are should you face hardship due to the Coronavirus.

As a firm we are vocal about our belief in goals-based investing and at times like these, this investment philosophy truly helps keep things in perspective. Every dollar you have should serve a specific purpose, whether it be lifestyle spending, paying down debt, security, retirement savings, college funding, a new beach house, etc.

As of January 1st, 2020, the SECURE Act was passed into law. It's important that clients understand the impact of this legislation as well as the more simple changes made for 2020, like 401k contribution limit increases.

Now that the holidays are wrapped up and your new year is in full swing, we wanted to provide you with a recap of 2019 and a preview of 2020 from our Investment Committee. For those who are receiving an update from Crown for the first time, please know that we are honored by your trust and look forward to helping you achieve your financial goals in 2020 and beyond.