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2020 Retirement: 3 Things Have Changed

As the world keeps changing rapidly, it can feel dizzying to keep up with everything. This pertains particularly to your retirement. How do you know what the best options are for you? What should you do in the current market?

American Retirement Institute knows how you’re feeling, and our virtual financial educators understand you need clear info and guidance right now. We believe there are three things you need to watch for and have sufficient knowledge about when it comes to retirement in 2020. These three topics have seen serious changes in the last year, so it’s important to talk to a financial professional who can help guide you in these areas.

1. Required Minimum Distributions

A lot has changed in the past year about required minimum distributions (RMDs). These distributions can have a huge impact on your retirement because they can easily push your income up into a new tax bracket, costing you more money than before.

What can you do to avoid that? While other things keep changing — some for the better, some for the worse — you need to stay up to date about required minimum distributions so that you don’t miss key dates and other important events

2. Market Volatility

It’s no secret there’s been volatility in the market the past few months. As markets fall, then rise again, it’s hard to know what you should do with your accounts. And in case things do take another turn for the worse, what should you do to prepare?

Our financial educators understand it’s a tough time for many people right now. Many people panic in a bear market, but there are ways you can avoid that and learn to thrive even in the middle of downturns. By talking to a financial professional, you can get tips and techniques you need to help you prepare for volatility

3. CARES Act

The coronavirus impacted millions of families, and that includes retirees. When the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed earlier this year, it brought a $2 trillion stimulus package into play. How does that CARES Act specifically affect you as a retiree, and what can you do to make sure you’re getting the biggest benefit possible?

We believe retirees can use quality retirement education to help overcome the financial worries brought on by COVID-19. Our financial educators can help share information to help calm your mindset amid the crisis.

The current situation is not ideal, but we believe we can help you make the most of it. Talk to a financial professional to learn even more!