However, another thing that the Secure Act did was it got rid of what was called “the Stretch IRA”. Prior to this law going into effect, if someone died and their child inherited a retirement account from them, the child could then use their own life expectancy to decide how much they needed to take out of the account. So if you had a 38 year old child, you had 45 years to take the amount out, as needed over that time. If you think about that, that money is growing as it's sitting in that account. So it was a great opportunity to pass wealth on to children. But unfortunately the Secure Act did away with this “Stretch IRA.”

You have to know Where Y’at to know where you’re going - Hi, I'm Addie Prewitt, an estate planning and tax lawyer. I collaborate with forward thinking clients on ways to preserve their property and to pass on their values and prosperity to the next generation.

I live in New Orleans with my husband and two boys. And today I'm going to be talking about a spreadsheet that I put together. And as you can see, I'm very excited about this spreadsheet, which should tell you that I'm a huge nerd, but also I do think it's helpful.

Have you ever sat down to calculate the amount you’d require in order never to need to earn another dollar in your life?
That’s your enough number.
When you Google “calculate enough number,” you’ll find systems of crunching numbers that are always influenced by the cult of more. But, before you go down that rabbit hole, try this thought experiment to help you find your enough number: