Recent major disasters, including hurricanes in the east and wildfires in the west, have left many people with serious financial challenges. Those impacted by federally declared disasters may qualify for expanded access to their retirement funds if their principal home is in the disaster zone. They must also have experienced economic loss, such as displacement, property damage or lost income from temporary layoffs. Under provisions of the SECURE 2.0 Act, eligible taxpayers can withdraw up to $22,000 from an IRA or other qualifying retirement plan. These penalty-free withdrawals come with flexible repayment options and increased loan limits. Here’s more: https://bit.ly/4hcslOE
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