Here is some good news for those who are over 70 1/2 taking RMDs.
Due to recent legislation that has passed, Required Minimum Distributions for IRA accounts have been suspended for 2020. Normally, if you are over 70 1/2 you are required to withdraw a certain minimum amount each year.
If you would like to suspend your withdrawals this year just give us a call.
Also, if you are turning 70 1/2 this year or later, you will not be required to withdraw mandatory amounts until 72 years of age.
Also most people are waiting for their stimulus checks. If you aren’t required to file a tax return, will you still get one? Yes. Non-filers follow this link to the IRS website and fill out the form to receive your stimulus deposit right into your checking account.
Lastly, I was going through a file folder, cleaning out a drawer, (Oh, the projects we find during our quarantine) and came across a newsletter I wrote after 9-11 in 2001. And it is still so relevant today, I thought you might find it interesting. It is posted below this newsletter.
Stay Home, Stay Safe and Be Well
To Your Prosperity and Wellbeing,
Investment Advisor Representatives
Osprey Money Management LLC