"Preparing for Retirement in 2024: Key Changes and Smart Money Moves"
TL;DR
Changes for retirement in 2024 include potential taxes on Social Security benefits due to a high cost-of-living adjustment (COLA) in 2023, the ability to roll over unused funds from 529 education accounts to a Roth IRA, the elimination of required minimum distributions for designated Roth accounts in certain retirement plans, a 3.2% increase in Social Security benefits, higher Medicare expenses including increased Part B rates and Part D premiums, and the cooling of inflation providing some relief for retirees.
Topics:businessretirement#inflation#medicare#retirement#retirement-accounts#social-security#taxation
- The biggest changes for retirement coming in 2024 Yahoo Finance
- 22% of Americans Are Likely to Retire in 2024. Before You Do, Make These Moves The Motley Fool
- Retirement And Tax Planning Playbook 2024 Investor's Business Daily
- 3 smart money moves seniors should make for 2024 CBS News
- What's Changing for Retirement in 2024? Morningstar
Want the full story? Read the original reporting
Read on Yahoo Finance