The rollout of SECURE 2.0 provisions is going to change key milestones and elements associated with your retirement plan. Here's how to have an intelligent discussion about your financial future. Learn more at https://goldstonefinancialgroup.com/essential-questions-to-discuss-with-your-retirement-advisor/
If you’re between 55 and 70, SECURE 2.0 quietly changed several levers that control your retirement income, taxes, and timing. Memorizing the new rules isn’t hard. It’s knowing which ones affect your financial situation and whether your financial advisor or wealth manager knows enough about weaving them into a comprehensive plan. Chicago RIA Goldstone Financial Group recommends asking incisive questions—starting with the five essential questions framework outlined in “Essential Questions to Discuss with Your Retirement Advisor.”
Key Questions To Ask Today
What’s our step-by-step plan for adapting to new SECURE 2.0 provisions?
RMD age shifts: Required Minimum Distributions now start at age 73, rising to 75 in 2033. A later RMD start can open a window for Roth conversions in your 60s. The action to ask for is a coordinated Retirement Roadmap that sequences Social Security, drawdowns, and conversions—not just investments.
How will my retirement income stay reliable and tax-efficient under the new rules?
Roth options expanded: Employers can allow Roth treatment for matches or non‑elective contributions, and Roth SIMPLE and SEP options are now permitted. This can change your mix of tax‑free versus taxable income later. Plus, in some instances, leftover 529 funds can roll into a beneficiary’s Roth IRA with annual and lifetime caps and seasoning rules. Ask for a paycheck‑in‑retirement plan that blends guaranteed income, including annuities where appropriate, portfolio withdrawals, and Roth positioning to manage sequence risk and market downturns—an approach Goldstone emphasizes in its income planning.
How does SECURE 2.0 change my lifetime tax picture?
Catch‑up contributions: High earners 50 and older making catch‑ups to 401(k)s may be required to make those catch‑ups as Roth, depending on income thresholds and plan readiness. This can increase taxes now and reduce taxes later. Qualified Charitable Distributions remain a powerful way to give and reduce taxable income; limits now index to inflation and there’s a one‑time option to fund certain split‑interest gifts. Ask your advisor to model Roth conversions before RMDs, QCD timing after age 70½, and bracket management across retirement phases. Goldstone’s tax planning lens focuses on lowering your lifetime tax bill, not just this year’s.
Are rising healthcare and long‑term care costs integrated with these rule changes?
Later RMDs and more Roth options can reduce taxable income in Medicare means‑testing years, potentially mitigating IRMAA surcharges. Ask how healthcare assumptions and long‑term care strategies interact with your withdrawal order and Roth choices—explicitly included in Goldstone’s Healthcare Planning.
What happens to my money after I’m gone—under the updated regulations?
Stretch IRA limits from earlier SECURE and SECURE 2.0 nuances still affect heirs. If more of your savings end up in a Roth, heirs may face fewer tax complications. Ask about trust versus will, beneficiary design, and coordinating with an attorney—hallmarks of Goldstone’s Legacy and Estate Planning.
So, what’s next for me?
SECURE 2.0 has and will continue to change the timing and tax character of retirement income. Use it to pressure‑test your plan across income, tax, healthcare, investments, and legacy—the integrated Retirement Roadmap Goldstone advocates. Start with the five essential questions and a practical next step: schedule a planning conversation and bring this checklist to your advisor.
To learn more about retirement planning, visit the website linked in the podcast notes. Thanks for tuning in! Goldstone Financial Group City: Oakbrook Terrace Address: 18W140 Butterfield Road Website: https://www.goldstonefinancialgroup.com/ Phone: +1 630 620 9300 Email: contactus@goldstonefg.com