Secure Act 1.0 Clarification and Secure Act 2.0

SECURE Act 2.0, son of the SECURE Act, has come out and we'll explain what has changed, what you might like and what you might not.

The Bird’s Eye View:

SECURE Act 2.0, son of the SECURE Act, has come out and we’ll explain what has changed, what you might like and what you might not.


Your Guide:

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re diving into the SECURE Act 2.0, which has some major changes, including an admission of a mistake by the IRS.

Anytime we can say the IRS has made a mistake and it’s in your benefit, we get excited about that. We want to build off the last podcast and what the IRS said they said they were going to do with the SECURE Act and why they retracted that.

In the last episode, we talked about what happens when you inherit an IRA. When the SECURE Act came out, it basically said you’ve got up to 10 year to have it drained out. Almost every expert and advisor were operating under the fact that we have a clock ticking for 10 years.

Well, the IRS came out and said no, it’s not that easy. We’re going to make you do a stretch IRA or make you do required minimum distributions for the first nine years and then you have to empty it out by the 10th year. That’s an administrative nightmare, and the whole industry was up in arms.

Lo and behold, the IRS came out and said we made a mistake. We interpreted that incorrectly. There was so much backlash that they had to come out and retract that.

To everyone reading this, if you have an inherited IRA, the original thought process is correct – you have 10 years to drain it out with no mandatory amounts within that 10 years. The IRS is doing this because it wants the deferred taxation inside of it.

That’s great news and it simplifies things.

Listen to the full episode or use the timestamps below to find specific segments.

2:06 – SECURE Act 2.0

5:16 – Rothification of retirement

7:05 – Please some, frustrate others

10:22 – Collecting tax on the seed

12:22 – Increase RMD age

15:54 – Don’t get too wrapped up

Thanks for checking out the Your Retirement Elevated Podcast. We’ll talk to you again on the next show.


Your Guide:

Home Insight About Scott

Scott Dougan, RFC, Investment Advisor – Contact



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Scott Dougan founded Elevated Retirement Group in 2003 in order to fill a niche he felt was not being addressed properly in the retirement planning environment – helping retirees and pre-retirees in the Kansas City metro area find answers to issues that may affect the quality of life during their retirement.

Scott is a Registered Financial Consultant (RFC) and holds a Series 65 Investment Adviser Representative license, which holds him to the fiduciary standard. He also holds insurance licenses in Kansas, Missouri and other states.




(913) 393-4724