The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was recently passed, has suspended all Required Minimum Distributions (RMDs) for 2020. What this means is that you are NOT REQUIRED to take a distribution this year. This includes IRAs and Inherited IRAs, as well as 401(k)s and 403(b)s. Feel free to call me if you want further clarification on your specific situation.
Although the stock market has continued to remain volatile, the good news is that it has rebounded somewhat from where it was a few weeks ago. Currently the S&P 500 is up approximately 25% from where it was on March 23rd.
We continue to pray for the health, safety and peace of you and your families as well as families all over the world. We love having you as a client and please DO NOT HESITATE to call if you need anything. God bless you and God bless America.