The new SECURE act, which passed in late December, pushed back the age in which individuals had to start their Required Minimum Distributions from retirement accounts (if they hadn't already reached the previously required age of 70 1/2). This has several benefits including deferring taxable income another year or two and keeping taxable income lower to allow for a longer time frame for other tax advantaged strategies such as Roth conversions. We are very excited. See the graphic prepared by Michael Kitces for a clear visual of the changes.
New Required Minimum Distribution Rules to 72
January 14, 2020|