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What the “Big Beautiful Bill” Means for Your Retirement Savings

by Eric Seyboldt, MBA

The “Big Beautiful Bill” has been a huge topic in the news recently. As we are able to continue our deep-dive into the language, we’re finding more information that is very relevant to pre-retirees and retirees. This law includes provisions that may not have made front-page news, but they are creating practical and measurable opportunities for retirees and pre-retirees to hold onto more of their savings.

I want to walk you through a few of the most important changes and explain exactly how they could apply to your financial life.

1. RMD Penalty Reduction: More Forgiving Rules for Missed Withdrawals

Most retirees know that at a certain age, they’re required to begin taking distributions from their traditional IRAs and 401(k) accounts. These are called Required Minimum Distributions, or RMDs. Under the previous rules, if you missed taking the required amount in a given year, the IRS would assess a 50% penalty on the amount you failed to withdraw. That could result in a surprisingly large and painful tax hit.

The new law reduces that penalty to 25%, and in cases where the mistake is corrected quickly—usually within two years—it can be lowered to just 10%. That’s a significant shift, especially for people managing multiple accounts or dealing with complex personal circumstances.

Take the case of David, a 74-year-old retired engineer. He missed his RMD last year because of a hospitalization. Under the old rules, his $20,000 missed withdrawal would have triggered a $10,000 penalty. Under the new law, the penalty was just $2,000, and he was able to reduce it further by filing a correction. This change doesn’t encourage carelessness, but it does recognize that real life happens, and retirees shouldn’t be punished excessively for honest mistakes.

2. Bigger Catch-Up Contributions for People in Their Early 60s

One of the most meaningful changes in the bill is aimed at those in their early 60s—specifically, people ages 60 to 63 who are still working and want to contribute more to their retirement accounts before they stop earning a paycheck.

Starting in 2025, people in this group will be allowed to contribute up to $10,000 in catch-up contributions to their employer retirement plans. And this amount will be adjusted over time for inflation.

Why does this matter? Let’s say Susan, a 61-year-old nurse, is still working full-time and plans to retire at 65. With this new rule, she can contribute an additional $2,500 per year over the old limit. Over four years, that’s $10,000 in extra contributions. If her investments grow even modestly, that could be closer to $12,000 or more in added retirement savings by the time she retires. For someone who didn’t have the ability to save earlier in life—or who is now focused on making up ground, this extra window is both helpful and well-timed.

3. Transferring 529 Funds into a Roth IRA: A New Option for Families

A 529 plan is a college savings account that grows tax-free if the money is used for qualified education expenses. But sometimes families end up with unused funds in these accounts. Maybe a child received a scholarship or decided not to attend college.

Under the old rules, pulling that money out for non-education purposes often triggered taxes and penalties. The new bill allows individuals to roll up to $35,000 of unused 529 funds into a Roth IRA, provided certain conditions are met (the 529 must be at least 15 years old, and annual limits still apply).

This rule won’t apply to everyone, but for families who overfunded college accounts or had changing education plans, it’s a smart way to repurpose those dollars into long-term retirement savings, especially for younger generations. For example, Mark and Carol funded a 529 for their grandson, but he ended up earning a full-ride scholarship. Now, instead of withdrawing the unused money and paying penalties, they can begin moving it into a Roth IRA in his name, helping him start his retirement savings decades early.

What You Should Do Now

These changes may seem technical, but they’re not theoretical. They open real doors for better planning, better flexibility, and better outcomes in retirement. If you’re unsure how these updates apply to your personal situation, it’s worth a conversation with your advisor.

Retirement rules are not set in stone, they evolve, and smart savers evolve with them. Understanding the new opportunities from this legislation could add thousands to your long-term financial picture.

Reach out to us for a complimentary, 10-minute consultation call. If you’re nearing retirement—or already there—it’s a good time to take stock of your plan. Recent changes in retirement law have created new options that may help you preserve more of your savings, reduce taxes, and increase flexibility.

We offer a complimentary 10-minute consultation call to help you understand how these updates could apply to your situation. A well-designed retirement plan doesn’t just manage risk—it should give you clarity about where you stand, how long your money will last, and how to make the most of the tools available to you.

If you’d like to talk about strategies for structured income, including tools like equity-indexed annuities, or simply want a second opinion on your current portfolio, give us a call at 614-943-2265.

Good planning isn’t about predicting the future—it’s about preparing for it with clear, informed decisions.

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Protecting Your Nest Egg: The Top Three Online Crimes Targeting Retirees Today

by Eric Seyboldt, MBA

Client: Let’s talk about something that doesn’t show up in portfolio charts but can erode your wealth—online crime. It’s particularly relevant for retirees, because you have what fraudsters want: accumulated assets, stable habits, and a track record of trustworthiness. These traits, admirable as they are, can make you a target. Today, I want to walk you through the three most common types of online fraud I’m seeing in this demographic, and how to defend against them.

Client: What kind of online crime are you seeing most often right now?

Eric: The most prevalent, and arguably the most destructive, is what we call phishing and impersonation scams. These typically involve someone pretending to be from a trusted source—a bank, Medicare, the IRS, even a loved one—and reaching out by phone, email, or text with a seemingly urgent request.

One client of mine, a retired engineer in Indiana, got a call that appeared to come from Medicare. The caller already had some of his personal details—his full name, his date of birth, and even part of his Social Security number. That’s how convincing it was. The person on the line claimed that Medicare was issuing updated cards and needed to verify his banking information for “direct deposit” purposes. Believing it was legitimate, he shared the requested details. Within 72 hours, $19,300 had been siphoned out of his checking account in multiple small withdrawals. The bank’s fraud department couldn’t recover the funds because the transactions were authorized (by those who stole the identity).

This isn’t a matter of intelligence. It’s a matter of being caught off guard in the middle of an ordinary day. The antidote is straightforward: never give out personal information unless you initiated the contact. If you're unsure whether a call or message is real, hang up, take a breath, and call the organization directly using a number you’ve independently verified. If you think something is going on that gives you a bad feeling, trust your instincts.

Client: That’s terrible. Are there other major threats I should be aware of?

Eric: Absolutely. Another increasingly common threat is tech support fraud. This one often begins while you’re browsing the internet. A pop-up window might suddenly appear, warning you that your device has been compromised by a virus or malware, and instructing you to call a toll-free number immediately for assistance.

A retired couple in central Ohio encountered this exact scenario. The pop-up used Microsoft’s logo and looked authentic. Out of concern, they called the number. A professional-sounding agent convinced them to grant remote access so he could “clean their system.” Over the next two days, this person had complete access to their computer, email, and brokerage account. By the time they realized something was wrong, the fraudster had transferred more than $3,000 out of their Schwab account into a cryptocurrency wallet. That money is gone.

No legitimate tech company will ever contact you with unsolicited support, and they certainly won’t ask to remotely access your machine unless you initiated the interaction. If something feels off, shut down your computer and reach out to a trusted advisor or IT professional before proceeding.

Client: What about scams that look like investments? I’ve heard those are getting more sophisticated.

Eric: That’s correct. The third major category is investment fraud, and this one hits close to home because it often comes dressed as financial advice. These scams usually promise above-average returns with little or no risk—language designed to resonate with retirees who are trying to protect their principal while generating income.

I worked with a retired school administrator from Pennsylvania who was introduced to a “private bond opportunity” through an acquaintance at church. The pitch came from someone posing as a licensed investment advisor, complete with professional marketing materials and client testimonials. She invested $50,000, believing it was going into municipal infrastructure bonds with 6 percent annual returns. What she didn’t know was that the business entity wasn’t real. The address was a PO box, the phone number was disposable, and the advisor’s credentials were fabricated. Her money was gone within three weeks.

Before you invest, verify the advisor’s license through FINRA’s BrokerCheck or the SEC’s public adviser database. Be wary of anything that discourages you from seeking a second opinion. If you ever hear phrases like “This is a limited-time opportunity” or “Only a few select clients are being offered this,” take a step back.

Client: So, what practical steps should I take to avoid these?

Eric: Think of this like estate planning or risk management. It’s about creating systems. Use two-factor authentication for your email and financial accounts. Place a freeze on your credit with all three bureaus if you’re not actively applying for loans. Keep your software up to date and work with a financial advisor who knows your financial and behavioral profile well enough to spot red flags. Most importantly, slow down. These scams work by making you feel rushed. Your best protection is time, verification, and transparency with people you trust.

Contact us for a free, brief 10-minute consultation. Protect and build your assets. Call Eric Seyboldt at 614-943-2265 to schedule your complimentary asset and insurance strategy session. Because you’ve built something worth protecting.

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Fixed annuities can be an essential component of a well-rounded retirement strategy, offering security, predictability, and efficiency in financial planning.

These are current fixed annuity rates and their durations from Top A-rated carriers (subject to change at any time, not FDIC insured):

Rates Are Maxing Out and Being Pressured To Go Down! Don’t Wait To Lock These Fixed Annuity Rates In Today! 6.70% is possible now!

3-year: 5.50% (under $100k Deposited)

3-year: 5.75% (over $100k Deposited)

5-year: 6.10% (under $100k Deposited)

5-year: 6.35% (over $100k Deposited)

7-year: 6.35% (under $100k Deposited)

7-year: 6.65% (over $100k Deposited)

Please feel free to call Eric at 614-943-2265 if you’d like to ask any questions or request information on these fixed annuities or other retirement topics that are on your mind.

REAL ASSETS, Invest Like the Ultra-Wealthy

Invest Like the Ultra-Wealthy: Why Smart Money Is Flocking to Real Assets Like Gold

Let’s call it like it is: the traditional retirement game plan is starting to look outdated. Inflation keeps climbing, the dollar doesn’t stretch like it used to, and central banks continue flooding the system with liquidity. Meanwhile, the markets? Still as volatile and unpredictable as ever.

That’s why today’s smartest investors aren’t sitting on the sidelines—they’re taking action.

They’re turning to gold—a timeless, tangible asset that doesn’t disappear when Wall Street stumbles. Gold has quietly built and preserved wealth through centuries of financial upheaval.

This isn’t just a hedge. It’s a proven strategy for uncertain times.

📌 Gold has stood the test of time as a store of value across every major crisis.
📌 It provides a reliable safeguard against inflation and currency devaluation.
📌 Unlike stocks or bonds, gold is a physical asset you can see, hold, and control on your terms.

When the future feels uncertain, gold offers stability, security, and peace of mind. Make it a cornerstone of your retirement strategy today.

During market chaos, real assets don’t flinch. They thrive. History proves it. While equities tumble, hard assets often surge—shielding portfolios and delivering asymmetric returns when they're needed most.

And even in calm times? They add powerful diversification. That’s why the ultra-wealthy use them as a cornerstone—not a sideshow—in their wealth strategy.

Ask yourself:

🧠 Are you truly diversified?
🧠 What happens to your retirement if inflation stays elevated?
🧠 If the dollar weakens, what asset in your portfolio gets stronger?

If you don’t have a good answer, it’s time for a new conversation.

Allocating funds into the asset class known as “Real Assets” may be a strategy that you should consider.

Ask us how to Rollover a portion of Your IRA or 401k To a GOLD IRA (see link below) and:

• Safeguard your assets from the collapsing dollar

• Incorporate the ‘REAL ASSET’ class into your portfolio like the ultra-wealthy

• Hedge against the current high-inflation conditions

• Protect your retirement assets against economic crises

Just get in touch. We make it easier than ever.

Feedback or Questions?

You’re invited to get in touch with us if you’d like to find out how the Novus Financial Group can help you on your journey to a happy, fulfilling life in Retirement. 

Office: 614-943-2265

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Investment advisory services are offered by duly registered individuals on behalf of CreativeOne Wealth, LLC a Registered Investment Adviser.

The content we provide here isn’t financial advice and cannot be taken as such. Please speak to your financial advisor before making any investment decision. Also, note that every investment comes with its risks and drawbacks. Lastly, we would like to remind you that past results cannot guarantee future returns.

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