Kick off the year with an operational plan, not wishful thinking. In this episode Chris Drew walks through the practical, high-impact tasks to do right now: audit and update beneficiaries (including PODs on bank accounts), confirm contribution limits and capture every employer match, and use HSAs properly (the “triple-tax” advantage: pre-tax contributions, tax-deferred growth, tax-free Qualified Medical withdrawals).
Chris explains the SECURE 2.0 changes you need to understand this year—RMDs now begin in the year you turn 73, new Roth flexibility for employer plans, and expanded exceptions to the 10% early-withdrawal penalty—then turns headlines into a short to-do list: review plan menus for Roth/SEP/SIMPLE options, consider partial rollovers for greater control, map a tax-aware Roth conversion timeline, and design your RMD/withdrawal sequencing so taxes don't erode your income. He also covers practical cash-management tips (3–6 month emergency fund, a real “spending plan” for the go-go years), how to use RMDs or qualified charitable distributions tax-efficiently, and why an overlap/cost-and-risk review can reveal hidden fees and duplicated exposures.
Plainspoken, tactical, and focused on turning legal changes into steps you can implement this month. Want help applying any of these moves to your situation? Book a free consultation at https://askthecaptain.com or call 833-DREW-CAP (833-373-9227).