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optimum wealth llc



February 2020 Newsletter


For This month’s Insights we are sharing what we are learning on what was mentioned in our January newsletter about Retirement law changes.

The “Setting Every Community Up for Retirement” also known as the SECURE ACT was signed into law on December 20, 2019 and the law took effect on January 1, 2020.

What does that mean to you? There are some significant changes to be aware of and we want you to be aware of these changes as soon as possible. Here are some of the key Highlights for individuals³

  1. Increased Required Minimum Distribution (RMD) ages: Changes the age for starting RMD’s from 70.5 to age 72 for individuals who attain age 70.5 after 2019. This applies to all Qualified plans such as IRA’s, 401k’s and other defined contribution plans.
  2. Allowing Post age 70.5 IRA contributions if an individual has earned income.
  3. Adoption or Birth of a child exception: This allows a person to withdraw from their Qualified plan for birth or adoption up to $5,000 without paying the 10% federal additional tax for early withdrawal. Couples can withdraw each, allowing up to $10,000 in total.
  4. Inherited IRA’s Distributions Limitation (also known as “stretch” provisions): Limits the maximum distribution period for most Non-spousal beneficiaries to a maximum of 10 years from the death of an IRA owner. There are exceptions, but historically that “stretch” could be over a beneficiar(y)s lifetime and now the accounts have to be paid out in a shorter time frame.

There are many other provisions in the SECURE ACT, this is just a few of the highlights for informational purposes and is not intended to be Fiduciary, Tax or Legal advice.

We hope that this information is helpful for you and highlights the continued need of reviewing your goals and addressing the impacts of these changes in order to create the best chances for your success.

Thank you!



Source: www.theslottreport/tag/secure-act


Why Working In Retirement Doesn't Always Work

As we’ve all heard, even the best-laid plans can go awry. When those plans involve retirement, the stakes are high. Let’s say you were planning on continuing to work in retirement to supplement your monthly income. It’s easy to see how a change in those plans could impact you significantly.

Continue Reading Here


Kites: The Original Construction Tool¹

In Japan, the hobby of kite flying has risen to an art form. Kites, or “tako,” were originally brought to Japan from China by Buddhist missionaries in 649-794 AD. Kites were mainly used for religious events and celebrations, but the innovative Japanese also found a way to use them in the construction of shrines and temples. Large kites were used to lift building material such as tiles to workers on scaffolds and roof tops.

One of Japan’s spectacular kite festivals, the Sagami Giant Kite Festival, is held annually on May 4 and 5 at various regions in Sagamihara City, Kanagawa Prefecture. Large kites of Sagami, called “Sagami-no-Oodako,” are flown with the help of a team of skilled kite flyers. These giant kites can measure up to 14.5 meters in length and width, weigh 950 kilos (over 2000 pounds), and are made of bamboo and Japanese paper.

Dedicate Time To Money Management

You would likely agree that managing money effectively is an important activity. But do you spend enough time managing your money?

You might want to make sure you’re giving money management the time it needs, because many Americans aren’t, according to a recent study.¹ You may not be entirely surprised to hear that Americans don’t give money management the amount of time they should.

Read More Here


Mont Blac Pie

See where this delicious dessert originates from below!

Get Baking!


³ https://www.theslottreport/tag/secure-act​

Advisory services are offered by Optimum Wealth LLC a Registered Investment Advisor in the State of New Hampshire. Insurance products and services are offered through Optimum Financial LLC dba Optimum Benefits, an affiliated company. Optimum Wealth LLC and Optimum Financial LLC are not affiliated with or endorsed by the Social Security Administration or any government agency, and are not engaged in the practice of law. All written content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. The information contained herein is not an offer to sell or a solicitation of an offer to buy the securities, products or services mentioned, and no offers or sales will be made in jurisdictions in which the offer or sale of these securities, products or services is not qualified or otherwise exempt from regulation. The information contained in this material have been derived from sources believed to be reliable, but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed.


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