Updates

Retirees may fare worse reinvesting their IRA or 401(k) withdrawals under the Secure Act

Jul 16th, 2019

Planning to reinvest those pesky required withdrawals from your individual retirement account or 401(k) plan because you don’t need the money?

Under the Secure Act, a bill pending in Congress right now that aims to improve the nation’s retirement savings, you’d have to start taking withdrawals from your IRA (and most other retirement accounts) at age 72 instead of 70 ½.

The kicker: Due to the reduced time that the reinvested cash would have to grow, its value over time could be smaller under the proposed change than under current law.

Read more: Retirees may fare worse reinvesting their IRA or 401(k) withdrawals under the Secure Act

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