New rules are giving individuals more freedom over their money and retirement savings. It couldn’t come at a better time. Find out what you can do now to preserve your money and what savvy investors are doing with theirs.
New rule changes in 2020 allow individuals to make unlimited transfers between their checking and savings accounts without penalties.
This can be incredibly helpful for those who have incurred extra expenses or interruptions to regular income or investment income.
It also allows you to reduce risk and exposure to money in banks and to use idle capital to invest more profitably in hard assets. Use the profits from those investments to resupply savings accounts when you feel it is safe to do so.
With cryptocurrencies also failing to provide a hedge against stock market fluctuations, more may access cash they had in what they thought was ‘e-gold’ and put it to better use.
New 401k Rules
The 2020 CARES Act is also giving individuals more control over their retirement savings and investments than they’ve ever had. You can now tap this long captive capital and put it into safer and better performing investments.
Even Goldman Sachs analysts have admitted that public stocks are likely to fall sharply in the second half of 2020. Leaving your retirement funds in these investments is just volunteering to take a big double digit hit to your net worth.
You can now borrow 100% of your 401k balance, up to $100k, without penalty, or roll over everything to a self-directed IRA or 401k, while preserving all of the tax advantages of these accounts.
These new rules also allow you to re-capitalize your retirement accounts later without any caps on annual contributions.
New Tax Deadlines
For those who haven’t filed 2019 taxes yet, there can still be time to get even more tax advantages with contributions to tax saving vehicles like these. Boost your net returns by minimizing, deferring and enjoying tax free returns.
Why Act & What To Do With It
Leaving your money in investments and accounts you know are both likely to sharply decline in value with little or no down side protection is just asking to lose years of hard work, sacrifice and smart investing. It may be impossible to perfectly time markets, but you can still avoid major losses with these new rules.
Savvy investors are using the opportunity to invest for higher returns, in tangible assets that provide downside protection and can deliver passive income.
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