Craig Toberman recently spoke to InvestmentNews for their article about the comprehensive retirement savings legislation SECURE Act 2.0.
In Advisers Anticipate Retirement-planning Flexibility SECURE 2.0 Offers, author Mark Schoeff Jr. discusses how financial advisors and their clients are preparing for increased flexibility for retirement planning.
In the article, Craig Toberman discusses how 529 plans will be affected.
For instance, some advisers may have clients who are saving for their children’s college education with 529 plans. A discussion about those vehicles can now also encompass retirement thanks to SECURE 2.0. The bill allows for unused 529 funds to be transferred to a Roth IRA.
“It’s not fair if a child gets a scholarship and you’re not able to freely access the 529 balance,” said Craig Toberman, founder of Toberman Wealth. “They should be able to roll to an account with a similar tax structure.”
If you are interested in hearing more of Craig Toberman’s financial advice, whether it be for tax planning or investment management, please book a call with him.
Craig Toberman is the Founder of Toberman Wealth – a fee-only, fiduciary financial advisor based in St. Louis. He assists families and businesses with strategic financial planning and long-term wealth management. He has over a decade of experience in financial services and has crafted custom financial plans for hundreds of families and businesses.
Craig received a Bachelor of Science (B.S.) degree in Agricultural and Consumer Economics from the University of Illinois and a Master of Business Administration (M.B.A.) degree in Finance from Saint Louis University. He is a Certified Financial Planner (CFP), Chartered Financial Analyst (CFA) charterholder, and Certified Public Accountant (CPA).
Craig is a member of the National Association of Personal Financial Advisors (NAPFA), Fee-Only Network, and XY Planning Network.
Craig lives in the greater St. Louis area with his wife, Ally and son, Hank.