King of Prussia, PA -- (ReleaseWire) -- 03/02/2021 --The Crash Proof Retirement team renewed their IRA certificates for the 2021 calendar year after attending a virtual Advanced Studies IRA training event hosted by Pension Management Company on February 4, 2021.
The all-day virtual event was presented by Philip Razzano, an IRA Consultant for Pension Management Company, who addressed new and existing IRA rules while refreshing participants about the changes that occurred in 2020 after the SECURE Act became law. Crash Proof Retirement Independent Educators and Staff participated in this annual training event to gain valuable, up-to-date information about IRA conversions, taxation, and required minimum distributions. One of the more anticipated changes highlighted by Razzano were updates to the life expectancy tables, which are expected to go into effect starting in January of 2022 and will impact how IRA owners calculate their required minimum distributions.
Most working individuals put their money in retirement accounts and are unaware of how to utilize their savings once they reach retirement, making this training paramount in achieving peace of mind for the Crash Proof Consumer. "Each year the IRS changes retirement laws and makes it difficult for the everyday investor to be efficient with their retirement accounts," said Phil Cannella the Founder of Crash Proof Retirement. Studying how these laws are updated from year-to-year not only benefit the staff in their personal retirement saving strategies, but this training builds trust and establishes credibility in the relationship between the Crash Proof Consumer and their Independent Educators. Cannella concluded by stating, "We here at Crash Proof Retirement know: to play a good game, you have to know the game's rules."
After attending this yearly educational seminar, Crash Proof Retirement's Independent Educators and Staff were certified and equipped with accurate information so they can serve the best interests of their Crash Proof Consumers. Independent Educators and Staff studied how the changes being implemented to the life expectancy tables will impact all IRA owners after 2021 and learned how to recalculate clients' required minimum distributions when the changes take effect. By increasing the life expectancy calculations, IRA owners will effectively reduce the amount required to be withdrawn from their accounts each year. The Independent Educators and Staff engaged with Razzano to discuss the potential tax ramifications that the new IRA rules could potentially create for account holders.
It is not uncommon for investors to be uninformed or confused by the pages of IRA laws that govern their retirement accounts. Joyce Reynolds, a retired teacher from West Palm Beach, Florida and Crash Proof Consumer stated, "I'm going to have to start taking that required minimum out of my IRAs and my 403Bs and I'm very concerned about that because I've never been here before doing this and so it's a new step and I want to learn as much as I can on how to do it the proper way."
This training is not required by law, but it is essential for the Crash Proof Independent Educators and Staff to expand their foundational knowledge and expertise of IRA laws so they can effectively and efficiently serve the best interests of their Crash Proof Consumers and bring peace of mind to clients who do not possess a strong aptitude for IRA rules and regulations. "It is very simple to put money into a retirement account when you're actively working, but when you retire you must be strategic in the way that you remove those funds," said Crash Proof Retirement CEO Joann Small. "As owners of a consumer advocacy firm, Phil and I believe that all of our staff should be armed with current IRA and retirement laws, and this training prepares our Independent Educators and Staff to be prudent and judicious with all of our clients' retirement accounts."
Razzano concluded the advanced IRA educational event by addressing rumors of a potential "SECURE Act 2.0" that is attempting to make its way through Congress. The Crash Proof Retirement Team encouraged a fruitful discussion about the proposed bill, most notably highlighting that the bill would raise the required minimum distribution age once again from 72 (set by the SECURE Act in 2020) to 75 years old.
The Crash Proof Retirement Team believes that this training is one of the many fulcrums in achieving the mission of Crash Proof Retirement — to operate as consumer advocates and bring peace of mind to Crash Proof Consumers. To find more information about 2021 IRA rules and regulations visit crashproofretirement.com.
About Crash Proof Retirement
Crash Proof Retirement is a one-of-a-kind consumer advocacy retirement planning financial firm, with offices in King of Prussia, Pennsylvania and West Palm Beach, Florida that is dedicated to protecting investors' nest eggs. Founder Phil Cannella and CEO Joann Small lead from the front with their very own specifically tailored Crash Proof Retirement System. While Cannella and Small have traveled different paths throughout their careers, they eventually joined forces with a common goal to educate the public about the dangers of Wall Street's high-risk securities, economic disasters, bankruptcies, government takeovers, and much more. Cannella and Small have protected more than 5,000 consumers using the proprietary Crash Proof Retirement System and have made it their mission to create a consumer advocacy firm that investors can rely on and have peace of mind throughout retirement. For more information, visit crashproofretirement.com or tune into The Crash Proof Retirement Show which airs in the Philadelphia region on Saturdays at 11am and Sundays at 1pm on Talk Radio 1210 WPHT and in South Florida on Sundays at 8am on Legends 100.3 FM.