Questions About the CARES Act? Learn Everything You MUST Know About the CARES Act Right Now

Episode 128: How CARES Act Waives Penalties on Withdrawal From Retirement Accounts

Updated May 20, 2020 | Chris Petrie

This post may contain affiliate links or links from our sponsors. Read our disclosure policy here.

Watch the Show

Today on the show it’s just me going over everything you need to know about CARES Act and retirement accounts. This video was recorded as a live stream to both Facebook and Youtube.

A separate recording of the audio can be found on the Money Peach Podcast — or anywhere you listen to your podcasts.

Listen to the Podcast

The Show Notes

There are many changes to retirement distributions since the passing of the CARES Act. I will cover:

  • Waiving the early withdrawal penalty from retirement account
  • New rules for taking a loan against your retirement account
  • RMDs and how this could be used towards your advantage this year
  • Paying taxes on withdrawals and how it has changed
  • Current retirement plan loan and how that has changed for 2020 If you have a question, please ask in the comments and I will get back with you 😊

Are You Enjoying The Podcast?

If you do, would you be willing to leave a review for the show here? The more reviews the podcast receives, the more people will learn about it!

Smart Money Academy

The Money Peach Podcast is brought to you by my live coaching program, Smart Money Academy.

Smart Money Academy is not an online course, but rather a live coaching program showing you how to budget, how much to save, how to manage your debt payoff, when to save for retirement, and how to build a legacy to last beyond your lifetime.

Chris Peach Author 150x150

Chris Petrie

Chris (Peach) Petrie is a personal finance expert, money coach, speaker and podcaster.

In 2011, Chris and his family were exhausted from living paycheck-to-paycheck and facing a mountain of debt. They started going against the society standards of misbehaving with money and made the decision to take back control of their lives and money. Within seven months they paid off $52,000, started saving like crazy and began building real wealth.

The word spread fast and Chris started showing friends how to create a budget over dinner. Soon after he started showing their friends how to do the same and eventually Chris started teaching personal finance classes around the community. As the need for the classes grew, Chris launched Money Peach in 2015.

Money Peach was created to help everyday people remove the stress and fear of money by showing them how to save more, make more, and keep more of their money.

Chris Peach has been featured in places like Business Insider, The Huffington Post, Elite Daily, and CheddarTV.

When Chris isn’t at “work” he can be found at the Crossfit gym or riding on the fire truck — Chris is also a full-time firefighter in Phoenix, Arizona.

Leave a Reply

Your email address will not be published. Required fields are marked *

Create the Perfect MONTHLY BUDGET with The Cash Flow Formula

Does it feel like there isn’t enough money at the end of the month? The Cash Flow Formula allows you to SAVE money, SAVE time and PAY OFF DEBT!
 



GETTIN’ SOCIAL WITH IT

Scroll to Top