So, Kelly, we just mentioned that 10% penalty on the surface. This doesn't sound like a smart move, but are there situations where an early 401k withdrawal actually does make sense. Well, thank you so much for having me on your show today.It's really great to be here. Yes, it does make sense in some cases because emergencies do happen and sometimes people just need cash and liquidity. When we look at our data as to why people are taking early withdrawals, the top two reasons are avoiding eviction as well as ...

President Trump today signing the landmark Genius Act into law. It's the first major piece of crypto legislation in US history. The bill boosting crypto further into the mainstream now offering a regulatory framework for a so-called stable coin in the economy.This is the Trump administration prepares to potentially sign another groundbreaking executive order paving the way for 401k retirement saving plans to invest in private assets. We're going to explain all this. So, what could these changes mean for you ...

Welcome back to Power Lunch. President Trump is reportedly expected to sign an executive order in the coming days that would help make private market investments more available to US retirement plans. Could pave the way for big managers of these private assets to access the vast sums of retirement savings held by workers who don't have a traditional pension. What it could mean for you and your money. Let's ask no one better than CNBC senior personal finance correspondent Sharon Eper. Sharon, um, we've talke ...

Private Credit Market Growth & Mainstreaming - Private credit is becoming mainstream, with affluent and wealthy investors increasing investments by 250% in the last 3 years [2] - Approximately $350 billion of wealth assets are now in private credit [2] - Evergreen products are growing at about 60% this year, indicating continued demand [3] - Bringing private credit into retirement portfolios with 401k reforms is considered interesting [3] Banks vs Alternative Asset Managers in Private Credit - Banks face restrictions on risk absorption, impacting their role in private credit [6] - Banks were discouraged from taking very risky, long-dated, and complicated loans after the financial crisis [8] - Private credit has grown around leveraged lending and mid-market lending, fueled by insurance companies with long-term loans [9] - Some loans fit better on a bank's balance sheet, while others are more suited for the private market [8] - Banks will be very competitive with private credit, but the key is determining the best owner of the risk for a certain type of loan [9] Regulatory Environment & Systemic Risk - Firms are concerned about litigation risk, necessitating safe harbors or clear legal guidance [4] - Central banks are asking questions about the systemic risk, the economic cycle, and the potential for bad decisions in private credit [16][18][19] - Private credit firms taking riskier pieces can make banks less risky [17] - Central banks want more data to monitor the pulse of the private credit market as it transitions from niche to mainstream [19]

even heard this term like revenge saving. What's the deal here. People are getting serious about saving right now.There's a lot of concern about your financial situation, what's happening with the economy. People worried about inflation. They're not splurging like they did after the pandemic.That was revenge spending. Now they want to revenge savings. That's what they're committed to. Committed to not buying more than they need.That low those lowby, no buy challenges you see on social media. That's what the ...

And Republican Senator uh Tim Scott has joined Senators Bill Cassidy and Ran Paul in legislation uh proposed to make it easier for companies to offer gig workers uh benefits without making them full-time employees. Senator Scott joins us uh this morning uh with the details. Senator, it's it's good to have you on uh this morning. Thank you, Joe. Good morning. Good to be back with you. I hope you're doing great. We're doing great. Hope the same for you, Senator. uh the three Republicans, would this would this ...

Boomers watching their 401k and real estate portfolios ballooning with the infinite money printer turning onhttps://t.co/HpX2qZareu ...

Required Minimum Distributions (RMDs) Overview - Individuals generally must take their first RMD by April 1st of the year after turning 73, with subsequent RMDs required by December 31st each year; those born after 1960 have their first RMD at age 75 [1][2][3] - Failure to take the required distribution may result in a 25% tax on the undistributed amount [2] - RMD calculation involves dividing the total balance of tax-deferred retirement accounts (IRA, 401k, 403b) at the end of the previous tax year by the IRS's life expectancy factor for the individual's age [1][3] - Financial institutions typically calculate and inform clients of their RMD amount by the end of December [7] RMD Exceptions and Special Cases - An exception exists for individuals still working at the company sponsoring their 401k plan; they may not need to take RMDs until retirement [9] - Higher investment returns lead to higher RMDs, as the calculation is based on the account's value at the end of the previous year [10][11] - All individual retirement accounts (IRAs) are now viewed as one giant massive IRA for RMD purposes [13] - Aggregate RMDs from all IRAs must be fully satisfied before any distribution from any IRA can be converted into a Roth IRA, otherwise a 6% excess contribution penalty may apply [13][14] Inherited IRAs and the 10-Year Rule - Beneficiaries inheriting an IRA must empty the account within 10 years of the original owner's death [14] - If the original IRA owner died before their Required Beginning Date (RBD), beneficiaries do not have to take RMDs during years 1 through 9 but must empty the account by the end of the 10th year [16] - If the original IRA owner died on or after their RBD, beneficiaries must take an annual stretch distribution during years 1 through 9 and then take out the remaining balance by the end of the 10th year [17] Qualified Charitable Distributions (QCDs) - Individuals can use their RMD to make a qualified charitable distribution (QCD) to a nonprofit organization [18] - The money must go directly from the IRA to the nonprofit to avoid being counted as taxable income [18][19] - There are limits to QCDs, such as up to $100,000 that can be donated [19]

Investment Allocation - The report explores the allocation of 401k funds to Bitcoin/crypto assets [1] Asset Classes - The document focuses on Bitcoin and cryptocurrency as investment options within retirement accounts [1]