New Webinar on The CARES Act Impact on Retirement Planning and Social Security
Submitted by Reby Advisors | Certified Financial Planners | Danbury, CT on April 27th, 2020Press Release, April 27, 2020
Dixon Downey, Financial Planner at Reby Advisors, will host an educational webinar titled “The CARES Act Impact on Retirement Planning and Social Security” through the Weston Library on Wednesday, April 29, 2020 at 3:30pm.
The webinar is free to attend and interested parties may register at: https://zoom.us/webinar/
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a $2 trillion financial relief and stimulus package intended to reduce the financial hardship caused by the COVID-19 virus that has caused millions of businesses to close and tens of millions of Americans to file for unemployment benefits. In a 30-minute presentation, Downey will cover how the bill affects people investing for retirement, approaching retirement age or already retired.
Specifically, Downey will discuss how:
- Required Minimum Distributions (RMD) have been waived in 2020.
- 401(k) loan rules have been loosened.
- Coronavirus Related Distributions (CRD) from IRA and 401(k) accounts in 2020 offer tax flexibility and no 10% penalty for those under 59 ½.
- Social Security taxes such as FICA and SECA can be delayed for the employer.
- Charitable giving opportunities have been increased with higher adjusted grow income (AGI) thresholds which create opportunities for IRA accountholders.
In addition, Downey will discuss how The CARES Act and other recent changes in the law present new opportunities to minimize taxes through ROTH conversions, qualified charitable distributions (QCD) and other tax planning strategies. Webinar attendees will have an opportunity to ask questions at the end of the presentation.
Register for free at: https://zoom.us/webinar/
About Dixon Downey, Accredited Portfolio Management Advisor (APMA)
As an Accredited Portfolio Management Advisor (APMA), Dixon Downey focuses on aligning client goals with appropriate portfolio solutions and leveraging risk tolerance analysis with an investment policy statement. With careful attention to Social Security, long term care, liquidity, risk protection, tax planning, legacy assurance, and sustainable withdrawal strategies, his philosophy is that these factors often play a primary role in investment success. He is closely attuned to the ever-changing tax landscape, budgets of all types and thinking about how these variables will impact the future.
Dixon spent the first ten years of his career with Merrill Lynch, where he was trained as a FINRA registered financial advisor. He eventually joined a team at Merrill Lynch that served high net-worth individuals and corporate executives. Most recently, he launched a SEC Registered Investment Advisory firm before transitioning to Reby Advisors to embrace the fiduciary standard and fee-based advice.
