Will raising the age for required withdrawals from your retirement accounts make a difference?

Will raising the age for required withdrawals from your retirement accounts make a difference?  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, JUN 12, 2019 YOUR WEALTH Editor's Note So, you may be wondering: What is this Secure Act and why does it matter to me? The Secure Act, which passed the House and awaits action in the Senate, aims to improve the nation's retirement system. In fact, if passed, the bill would be the biggest legislative change to the retirement system in more than a decade, when the Pension Protection Act was passed in 2006. It includes 29 provisions, many of which provide new opportunities to save. One change, for instance, raises the age requirement for a required minimum distributions to 72, from 70½. Another allows annuities to be offered in 401(k) plans. Outside of the retirement space, the bill provides opportunities to save elsewhere, by increasing flexibility in covering costs associated with education and adoption. However, while the bill encourages more people to save, pundits say it doesn't address other issues surrounding retirement, such as rising health-care costs and Social Security insolvency. Because the legislation would create many new options for retirement savings, it does increase the importance of educating yourself on all of the options at your disposal, according to some advisors I spoke with about the bill. While we await possible passage, these advisors say it's a good time for everyone to review their current retirement plan and find a strategy to possibly increase their contributions. For more cool stuff like this, please follow me on Twitter @jimpavia and check out CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow. Jim Pavia @JIMPAVIA Will raising the age for required withdrawals from your retirement accounts make a difference? Advisors say that, for most people, increasing the age for required minimum distributions, or RMDs, would not make or break their retirement plan. That big 'Trump bump' in manufacturing is pretty much gone now Manufacturing had been a big winner during the Trump administration, but the surge appears to have stalled and tariffs could be partly to blame. Turns out it's not baby boomers who have taken the most from Social Security New research from the Center for Retirement Research at Boston College finds that it was the earliest beneficiaries who received more money than they paid into Social Security. And policy changes made in the 1930s helped set the program up for the funding shortfalls it faces today. 5 tips for advisors to consider before the stretch IRA dies out The stretch IRA might be on its way out if the Secure Act becomes law. For now, advisors still have time to help clients figure out how this might affect their estate plans. Here are five key points to review. Trump says 'devalued' currencies put US at a disadvantage and the Fed doesn't have a 'clue' President Donald Trump says the U.S. dollar is at a disadvantage compared with other currencies as central banks keep rates low. Beware: These moves can leave a dent in your credit score The standard advice for getting a high credit score is to pay your bills on time and keep your balances to a minimum, yet experts warn that other moves you make can drag down your score. Considering basic Medicare with no backup insurance? That could be a costly mistake, experts say Because the program comes with deductibles, copays, coinsurance and no out-of-pocket maximum, having no form of supplemental insurance poses a huge financial risk. Advisors down on crypto but give pot stocks and passive investing a thumbs up: survey The advisor survey from the Financial Planning Association reveals advisors are upbeat about the economy, still like passive investing and are interested in cannabis-related holdings but remain skeptical about cryptocurrencies. An IPO could make these workers wealthy – or leave them holding nothing At the right company, an employee with stock options could wind up with a small fortune on his hands. But don't get dazzled by the offer. Here's what you should know before you commit. Here's why advisors may urge retirees to load up on equities Guaranteed income — whether in the form of Social Security, pensions or income annuities — offers retiring investors an extra measure of safety from market shocks. Income they can count on also gives them the flexibility to invest a little more aggressively. Trump on the Fed: They're disruptive "Trump complains that the people voting on the Fed's board are 'not my people' – I'm not sure the Fed is supposed to be subordinate to the President ..." CONTRIBUTORS Sharon Epperson @sharon_epperson Josh Brown @ReformedBroker Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS