SECURE stands for “Setting Every Community Up for Retirement Enhancement”, which is pretty clever when you think about it.
People want to associate their retirement with a word like ‘secure’. So even without knowing anything about the law, most people will probably have good feelings about it based solely on the name.
But if you actually read the legislation, SECURE contains a number of predictably terrible consequences.
For starters, SECURE is a basically a gigantic tax increase. And it’s a tax increase that will particularly affect your children when you pass away.
Under current law, you could leave your IRA to your children in a fairly tax efficient way. That’s actually one of the nice things about an IRA.
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