What big change to Roth IRA’s and 529’s coming?
In this video, we’ll answer a question that’s been on many people’s minds: what big change is coming to Roth IRA’s and 529’s? We’ll discuss the possible changes and give our opinions on what this means for investors.

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With the passage of the SECURE Act in 2019, a number of changes were made to the rules governing Roth IRA’s and 529’s. These changes are aimed at making it easier for individuals to save for retirement and college expenses.

One of the biggest changes to Roth IRA’s is the elimination of the so-called “stretch” provision. Under the old rules, a beneficiary of a Roth IRA could stretch out the distribution of the account over their lifetime. This allowed them to take advantage of the tax-free growth of the account and delay taking distributions until they were in a lower tax bracket. Under the new rules, the beneficiary must take all the distributions within 10 years of the original owner’s death.

Another change to Roth IRA’s is the elimination of the “backdoor” contribution. Under the old rules, individuals who earned too much to contribute directly to a Roth IRA could make a non-deductible contribution to a traditional IRA and then convert it to a Roth IRA. The new rules eliminate this option and limit the amount of money that can be converted from a traditional IRA to a Roth IRA.

Finally, the SECURE Act also made changes to 529 plans. Under the old rules, 529 plans could only be used for qualified higher education expenses. The new rules allow 529 plans to be used for up to $10,000 in qualified K-12 expenses per year. This change is aimed at making it easier for families to save for elementary and secondary education expenses.

In summary, the SECURE Act made a number of changes to Roth IRA’s and 529’s. These changes are aimed at making it easier for individuals to save for retirement and college expenses.