RegentAtlantic Answers: How Does the CARES Act Affect Retirees?

The CARES Act includes much more than stimulus tax rebate checks and enhanced unemployment benefits.

As the financial specialists at RegentAtlantic explain, the CARES Act has some facets that can affect retirees and those close to retirement:

As Chris Cordaro, RegentAtlantic's Partner, Chief Investment Officer and Wealth Advisor, explains, the CARES Act suspended required minimum distributions, which means you don't have to release that money that could increase your taxable income. In addition,100 percent of charitable deductions can be used to offset income this year.

When combining the CARES Act provisions with current market conditions, it might be a good time for individuals to consider a Roth conversion, taking money out of an IRA or making a larger retirement plan or IRA contribution, Cordaro says.

Cordaro and three colleagues will host a Q & A webinar on these and other COVID-19 crisis topics from 8-8:30 p.m. Thursday, April 16. Click here for more information and to register.

In addition, you can find recordings of past COVID-19 financial webinars on RegentAtlantic's YouTube channel, including Retirement in the Age of COVID-19 and Navigating the COVID-19 Market Upheaval.