Important Retirement Updates & Changes for 2024

It’s not always easy to keep up with rule changes and updates when they happen each year, but we like to stay on top of anything that might impact your retirement planning. In today’s episode, we will bring you up to date on what’s new for 2024. From tax brackets to Social Security to 529 plans, we’ll cover some key planning items that everyone will want to know about. 


Here’s some of what we discuss in this episode:

• You’ll get an increase to both your standard deduction on taxes and how much you can make in each tax bracket.
• The Social Security Cost of Living Adjustment isn’t has high as it was a year ago but still a nice bump.
• What you need to know about the increase in Medicare costs.
• 529 plans can start rolling money into a Roth but there are some restrictions to be aware of.
• There is a little more flexibility to withdrawing from 401k accounts early.
• What you need to be aware of with Required Minimum Distributions in 2024.

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Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.