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The Secure 2.0 Act Brings New Marketing Opportunities for Variable Annuities and ETFs

The House of Representatives passed the Secure 2.0 Act by an overwhelming vote of 414 to 5 on March 29, 2022. Also known as the “Securing a Strong Retirement Act of 2022,” the Act predominantly focuses on retirement-oriented products and builds upon vital retirement security legislation. The Act sufficiently increases the age of required minimum distributions (RMDs) and adjusts retirement laws to make it easier for Americans to save for retirement. Secure 2.0 also has additional provisions that open the door to emerging marketing opportunities for ETFs and Variable Annuities. If you are interested in learning about investment options and securities or saving for retirement, Secure 2.0 and these two products could mean big changes to your future. What are Variable Annuities? In short, a variable annuity is a contract between you and your insurance company or another annuity provider. This type of agreement enables you to purchase the option of receiving portions of your income in specific intervals or even for the rest of your life. Once you have purchased a variable annuity, any money invested is allocated toward your investment portfolio. The available options may differ but usually comprise money market funds, bonds, stocks, and more. However, depending on the overall performance of your investment portfolio, the income received may differ slightly, rising and falling as it is impacted. Understanding an Exchange-Traded Fund (ETF) Operating much like a mutual fund, your typical ETF is a form of pooled investment security. It tracks a specific commodity, index, or sector, among other assets. Compared to mutual funds, your ETFs may be sold and purchased on a stock exchange, similar to average stocks. ETFs, offer various structure options, offering the ability to track the price of a collection of securities or even individual commodities. Ultimately, it provides flexibility to the individual, depending on need and preference. Secure 2.0 Benefits ETFs and Variable Annuities In the past, due to Treasury Department regulations, ETFs could not be obtained directly through insurance products until the introduction of Secure 2.0 (specifically Section 203). Individuals may purchase ETFs through retail investor accounts and IRAs. Thanks to Secure 2.0, the Treasury Department is directed to amend tax regulations to permit the purchase of ETFs through variable insurance products. This type of fund is unlike mutual funds, as it offers more flexibility for individuals looking to diversify. ETFs experience price changes throughout each trading day and can be bought and sold on various markets. Ultimately, Americans would be given more control over their retirement savings, including how they are purchased and sold. In Conclusion The passing of Secure Act 2.0 brings a lot of changes to retirement and makes it easier for Americans to make their retirement dreams a reality. Whether you are interested in utilizing Variable Annuities, ETFs, or a mixture of both alongside stocks, Secure 2.0 is paving the way for you to create a retirement portfolio to match your financial goals.
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My name is Kevin Wirth and I have worked in the financial services industry for many years and I specialize in life insurance and retirement planning for individuals and small business owners, with a specialty in working with Federal Employees. I am also AHIP certified to work with individuals on their Medicare planning. You can contact me by e-mail or phone. I look forward to the opportunity of working with you on these most relevant areas of financial [email protected] 914-302-2300

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Kevin Wirth

My name is Kevin Wirth and I have worked in the financial services industry for many years and I specialize in life insurance and retirement planning for individuals and small business owners, with a specialty in working with Federal Employees. I am also AHIP certified to work with individuals on their Medicare planning. You can contact me by e-mail or phone. I look forward to the opportunity of working with you on these most relevant areas of financial planning. [email protected] 914-302-2300

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