As you may know the SECURE Act was signed into law on December 20, 2019. This landmark piece of retirement legislation could impact some decisions about retirement savings strategy.
So what would you do with an extra $10,000 or $20,000? Ok, you'd pay off some debt, get rid of some college loans, or take an extra vacation. But, what if you suddenly had an extra million or $10 million or more? Coming into a windfall that large gives you some issues to deal with. Whether it is from inheritance, the sale of your business, life insurance or a big gain coming out of your downsizing, you'll need to re-evaluate your financial position and consider how your sudden increase in liquid wealth will affect your financial and, importantly, your life goals.