On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. This new legislation made major changes to a number of tax rules that govern retirement savings. Many of these changes started in 2020 and some of the details are still being finalized.
Earning an income comes with taxes, and your investment incomes are no different. As your portfolio grows into retirement, it’s important to consider the difference between retirement pre-tax income and retirement after-tax income. A savvy advisor will consider your future tax liabilities to be an integral part of your overall retirement strategy. After all, it’s the cash that matters!