Inheriting an Individual Retirement Arrangement (IRA) account used to be a straightforward process, but changes in tax laws outlined in the SECURE Act of 2019 have brought some important modifications, especially for “non-spousal” beneficiaries. If you've inherited an IRA or a Roth IRA or you're planning for your beneficiaries, it's crucial to understand the new rules.
There is a growing concern among some investors that the debt ceiling limit (controlled by Congress) and the spending plan (controlled by the President) will collide this summer. The history of federal government budgets, spending, debt ceiling limits, and shutdowns shows that these issues are complex and interrelated. They also reflect the political and economic challenges that the country faces at different times.
Given the recent headlines around bank failures, now is an excellent time to revisit how your money is protected.