The Retirement and IRA Show

Social Security Benefits, RMD Taxes, IRMAA, and Social Security Taxation: Q&A #2508 Feb 22, 2025

While Jim is attending a conference, Chris is joined by Jake to discuss listener questions relating to Social Security benefits, RMD taxes, IRMAA, and taxability considerations for claiming Social Security.

(5:00) Georgette asks whether her survivor benefit will be reduced since her husband passed away at age 71.

(13:30) The guys address whether claiming early on a work record reduces a spousal benefit or if the child-in-care provision prevents the reduction.

(22:15) An email comment corrects a hint given on a previous episode regarding NFL team names.

(26:30) A listener questions whether Chris overlooked the Qualifying Widower status in a previous Q&A episode answer.

(35:00) Chris and Jake respond to a listener asking whether taxes on a December RMD must be paid immediately or with the next estimated payment.

(44:30) George, who pays IRMAA due to a large Roth conversion, wonders if there’s a way to avoid it without qualifying under the listed exceptions on the SSA-44 form.

(53:45) A listener considers whether changes in Social Security taxation at the state and federal levels should influence their decision on when to start benefits.

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Our Retirement Planning Philosophy and Approach, Condensed Version: EDU #2508 Feb 19, 2025

Chris flies solo for this long promised, very special, EDU episode where he describes our retirement planning philosophy and approach in just 30 minutes.

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Social Security, IRMAA, IRA Distributions, Roth Contributions, Catch-up Contributions, and Inherited IRA RMDs: Q&A #2507 Feb 15, 2025

Jim and Chris discuss listener questions relating to Social Security benefits, IRMAA, IRA distributions, Roth contributions, catch-up contributions, and inherited IRA RMDs.

(6:30) George asks how inflation adjustments apply when a reduced Social Security benefit converts to a spousal benefit.

(13:45) The guys address whether the end of non-qualified deferred compensation qualifies as a life-changing event for IRMAA purposes.

(22:00) Jim and Chris discuss whether taking IRA distributions in a lump sum or spreading them out over time is the better approach for someone retiring at 63.

(35:45) A listener explores the idea of making an intentional excess Roth contribution then reevaluating their options before the extended tax filing deadline.

(54:45) The guys clarify the defined contribution limit and how catch-up contributions affect the total amount allowed.

(58:00) Jim and Chris answer whether RMDs on a recently inherited IRA must begin in 2025 or if the clock starts in 2026.

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A Smart Approach to Retirement: EDU #2507 Feb 12, 2025

In this EDU episode Jim and Chris review and discuss an article sent in by a listener after their critique of the safe withdrawal rate approach to retirement.
Some of the points made in the article should sound familiar to listeners… Nobel laureates William F. Sharpe and Robert C. Merton argue that traditional retirement withdrawal strategies, like the 4% rule, fail to adequately balance investment risk with income certainty. The laureates highlight the inefficiencies of relying on volatile investment portfolios to fund fixed expenses, proposing instead that retirees match investments to specific future expenditures through strategies like Sharpe’s “lock-box” method or Merton’s tiered income approach. Ultimately, they advocate for securing a base level of guaranteed income, embracing flexible spending, and recognizing that higher returns always come with higher risk.

Show Notes:
How do Nobel Laureates Approach Retirement?

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**Survivor Benefits, Social Security Disability, and Donor Advised Funds: Q&A #2506** Feb 08, 2025
Jim and Chris discuss listener questions relating to Survivor Benefits, Social Security Disability Insurance, and Donor Advised Funds.
Before diving into listener questions, Jim shares insights from his recent trip to an industry conference, where he investigated financial planning software options that might align with their Secure Retirement Income Process and Fun Number. The guys also discuss the challenges of retirement projections and why existing tools often fall short.

(29:00) The guys address a question about whether someone can claim six months of retroactive Social Security benefits before switching to a survivor benefit if their spouse passes away.

(42:30) A listener wonders if their mother-in-law may have permanently reduced her Social Security benefit after being advised to file while waiting for SSDI approval.

(53:30) George asks if his children can establish their own Donor Advised Fund (DAF) to receive Qualified Charitable Donations (QCDs) from his IRA after his death, avoiding federal income tax.

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**A Discussion on Simplified Retirement Planning: EDU #2506** Feb 05, 2025
While Jim is at a conference, Jake joins Chris to discuss a listener’s simplified retirement planning approach. They examine their straightforward strategy, focusing on key points like living within your means, how finances often simplify in the mid-70s after covering the Minimum Dignity Floor, and the impact of passing the delay period for larger withdrawals. They also consider potential risks, such as inflation and interest rates, in this type of allocation.

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**Social Security, QLACs, and ETFs: Q&A #2505** Feb 01, 2025
Jim and Chris discuss listener questions relating to Social Security, QLACs, TIPS ETFs, and buffered ETFs.

(9:00) A listener who worked in Australia in the late 1980s asks how the U.S.-Australia Totalization Agreement might affect their Social Security benefits. Jim and Chris discuss whether their earnings record can be adjusted and what steps to take.

(16:00) The guys respond to a listener with a sizable public pension who is considering claiming Social Security at 62 and investing the funds. They analyze the strategy and explain why delaying benefits is often the better choice for protecting the Minimum Dignity Floor.

(47:30) Jim and Chris address a question about QLACs and IRA valuations: Should the end-of-year fair market value of a QLAC inside an IRA be included when calculating the total IRA balance for pro-rata basis conversion purposes?

(58:15) George asks about TIPS ETFs—if phantom income from inflation adjustments isn’t reinvested, does that diminish or eliminate inflation protection?

(1:07:30) A listener nearing retirement lays out their funding strategy for a 5.5-year delay period and beyond. Jim and Chris share their thoughts on the approach and the role of buffered ETFs.

Show Notes: Article discussed in Question 2

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**Safe Withdrawal Rate: EDU #2505** Jan 29, 2025
Jim, Chris, and Jake share their thoughts on a recent Morningstar study that lowers the industry-standard safe withdrawal rate to 3.7%. They review a MarketWatch article discussing the study, highlighting points of agreement and disagreement. Throughout the conversation, they explore their approach to retirement planning, including the Minimum Dignity Floor, See-Through Portfolio, and Fun Number concepts, comparing these to the safe withdrawal rate and Monte Carlo methods for determining retirement spending.

Show Notes:

Read in MarketWatch

Watch the video from Morningstar

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Medicare Enrollment, Social Security, and Estate Taxes: Q&A #2504 Jan 25, 2025

Jim and Chris discuss listener questions relating to Medicare enrollment, Social Security benefits, and estate taxes.

(6:00) George asks about Medicare’s special enrollment period and the impact of large Roth conversions on IRMAA thresholds after retirement.
(18:30) A listener wonders about the impact of the Social Security (Un)Fairness Act on spousal and survivor benefits eligibility.
(23:00) The guys weigh in on a question about eligibility for survivor benefits after delaying Social Security to age 70.
(28:30) Jim and Chris address concerns about strategies to mitigate estate taxes, including the use of Qualified Charitable Distributions (QCDs) and trusts.

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Charitable Remainder Trusts Part 2: EDU #2504 Jan 22, 2025

Jim, Chris, and guest Paul Neiffer, CPA, continue their discussion on Charitable Remainder Trusts. They also answer listener questions related to CRTs, CRATs and CRUTs.

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Contributions, Social Security, 415 Limits, and Beneficiaries: Q&A #2503 Jan 18, 2025

Jim, Chris, and Jake sit down to discuss listener questions relating to contributions, Social Security, 415 limits, and beneficiaries.

PSA: Chris and Jake review several questions from this weeks EDU show relating to 415 limits, new age 60-63 “super” catch-up contributions effective under SECURE 2.0.

(10:30) A listener looks for clarification on his wife’s spousal Social Security benefit.

(13:30) George provides some additional thoughts surrounding 415 limits and maxing out 401k contributions.

(23:00) PSA to clarify the question from last week’s Q&A Show regarding a person who inherited an IRA directly from his mom as a primary beneficiary, and a different IRA from his mother as a successor beneficiary. They dive deeper into the difference between a primary and successor beneficiary when inheriting an IRA.

(51:45) Georgette looks for some additional information on Social Security issues surrounding widowhood.

(1:01:00) A listener wonders what happens when the market is closed on a day that someone passes away and how to value the security on that given day when it’s inherited.

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“Super-Catchup” Retirement Plan Contributions: EDU #2503 Jan 15, 2025

Chris and Jake discuss the new “Super-Catchup” retirement plan contributions, explaining who qualifies and how they work.

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Social Security, Inherited Roth IRAs, Inherited IRA RMDs, and Roth Withdrawals: Q&A #2502 Jan 11, 2025

Jim and Chris sit down to discuss Social Security, inherited Roth IRAs, an inherited IRA RMD case, and reporting Roth withdrawals.

(12:45) The guys answer a question about earning enough Social Security credits while working overseas and how this impacts Medicare eligibility and spousal benefits.

(22:45) Georgette asks whether taking a Child-in-Care benefit now will allow her to switch to a higher survivor benefit later.

(33:00) A listener wonders if a trust can preserve the tax-free growth of an inherited Roth IRA beyond the 10-year withdrawal rule.

(46:15) Jim and Chris talk about a very confusing inherited IRA RMD case they are working on.

(1:12:00) George seeks advice on reporting Roth IRA withdrawals after a Roth conversion and dealing with AGI changes when filing taxes.

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Retirement Planning Dialogue: EDU #2502 Jan 08, 2025

In this EDU dialogue show, Jim and Chris are joined by Jake to explore listener questions about Social Security, income annuities, strategies for deploying dollars in retirement, and other Retirement Planning related topics.

Mentioned JP Morgan Article

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Spousal Benefits, IRMAA, Step-Up Basis, Family Maximums, Beneficiaries, and Inheritances: Q&A #2501 Jan 04, 2025

Jim and Chris discuss listener questions relating to Social Security spousal benefits, IRMAA planning, step-up in basis rules, family maximums, IRA beneficiaries, and factoring inheritances into retirement planning.

(12:00) George asks how his wife’s spousal Social Security benefit will be calculated, specifically regarding COLA increases to his PIA and his delayed filing at age 70.

(20:30) A listener inquires about minimizing IRMAA surcharges following Roth conversions by using form SSA-44 to waive the surcharge for consecutive years.

(31:15) In a PSA, Jim and Chris clarify a mistake from a previous episode regarding the IRS definition of fair market value (FMV) for determining the stepped-up basis of inherited stocks.

(38:15) A listener seeks clarification on Social Security family maximum benefits and how spousal and child benefits are calculated when the family’s total benefits change over time.

(43:00) George asks for advice on naming IRA beneficiaries, including per stirpes designations, contingent options, and considerations for blended families and remarriages.

(1:08:30) The guys discuss how to factor potential inheritances into retirement planning, particularly when the timeline and asset usage remain uncertain.

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Developing Confidence With Retirement Spending: EDU #2501 Jan 01, 2025

Jim and Chris, once again joined by Jake, a fellow planner at Jim Saulnier & Associates, discuss a recent Wall Street Journal article about why retirees often hesitate to spend in retirement. The guys share some tips to build retirement spending confidence.

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Social Security Benefits, IRMAA, RMDs, Annuities, and Beneficiaries: Q&A #2452 Dec 28, 2024

Jim and Chris discuss listener and forum questions relating to Social Security benefits, IRMAA, RMDs, annuities, and beneficiaries. Chris kicked off the episode with a bold dare, promising listeners the “best show of the year” since it’s the last one for 2024. Jim took the challenge seriously, turning it into a record-breaking two-hour extravaganza with seven questions. (Hopefully Chris has learned his lesson!)

(10:45) The guys address a Social Security question on a financial services forum Jim follows.

(22:30) A listener follows up on a prior episode to ask about spousal and child-in-care benefits when Social Security’s family maximum is already reached.

(35:45) A listener provides a PSA about successfully using form SSA-44 multiple times to reduce IRMAA.

(40:30) George asks for clarification on whether the end-of-year IRA balance for RMDs is based on the market value at the opening or closing of December 31st.

(45:15) A forum post prompts a discussion about how a lifetime income benefit from an IRA annuity is valued when converting to a Roth IRA. (Correction: Jim incorrectly described the process for valuing a publicly traded security for “step-up in basis” purposes. The correct method is to average the high and low on the date of death, not the open and close.)

(1:03:00) Jim and Chris address a post-SECURE Act forum question: Are RMDs required in 2024 from an inherited IRA if distributions were already taken in prior years?

(1:14:45) The final forum question explores whether naming a contingent beneficiary on an IRA is necessary if the primary beneficiary is a trust.

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Individualized Retirement Planning Strategies: EDU #2452 Dec 25, 2024

Jim and Chris continue discussing different approaches to retirement planning, focusing on a listener’s DIY strategy. They cover key topics like withdrawal strategies, risk management, and tax considerations, emphasizing personalized solutions to fit individual goals.

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IRMAA, 457b, QCDs, and Roth Conversions: Q&A #2451 Dec 21, 2024

Jim and Chris discuss listener questions relating to IRMAA, Social Security benefits, 457B plans, Qualified Charitable Distributions, and Roth conversions.

(8:30) The guys address a listener question about using form SSA-44 to appeal IRMAA surcharge.

(20:45) George seeks clarity on whether and how his wife’s 457 plan distributions will impact their Social Security benefits.

(42:00) A PSA from Georgette shares her experience with using check-writing from an IRA for QCDs.

(46:00) Jim and Chris weigh in on advice given to a widow about converting her late husband’s SIMPLE IRA to a Roth IRA.

(1:20:45) A listener asks for guidance on handling the pro-rata rule after a backdoor Roth conversion and the implications of an IRMAA discrepancy due to a late-reported Roth conversion.

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Charitable Remainder Trusts Part 1: EDU #2451 Dec 18, 2024

Jim and Chris welcome on another member of the JSA team – Paul Neiffer, CPA – to discuss Charitable Remainder Trusts. They dive into what they are and how you might use them.

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IRMAA, Spousal Benefits, IRA Withdrawals, QCDs, and Roth Contributions: Q&A #2450 Dec 14, 2024

Jim and Chris discuss listener questions relating to IRMAA, SS Spousal Benefits, IRA withdrawals, Qualified Charitable Donations, and Roth contributions.

(6:45) A listener looks for assistance filling out form SSA-44 to have his IRMMA surcharge reevaluated.

(24:15) George wonders if his wife claiming her Social Security benefits early will reduce her spousal benefit when he takes his SS at full retirement age.

(36:00) Jim and Chris share a listener’s perspective on the advantages of paying federal taxes with an IRA withdrawal.

(39:15) The guys weigh in on using the check-writing ability from an IRA to make QCDs.

(52:15) Jim shares a case study where someone might be able to double their annual Roth contributions.

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Retirement Planning Philosophy and Process Dialog: EDU #2450 Dec 11, 2024

Jim and Chris once again welcome their colleague, Jake Turner, EA, and Candidate for CFP® certification, to the show. Together, they address listener questions and take a deeper dive into their retirement planning philosophy and process.

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Family Maximum Benefit, Means Test, QCDs, Tax Strategies, and SPIA Income: Q&A #2449 Dec 07, 2024

Jim and Chris discuss listener questions relating to the Family Maximum Benefit, Means Test, Qualified Charitable Donations, tax strategies for pension benefits, and spreadsheet tracking of SPIA income.

(10:00) Georgette asks about factoring in the Family Maximum Benefit while deciding when to start taking Social Security

(19:30) A listener looks for a better understanding of Survivor Benefits and the means test.

(32:30) Jim and Chris discuss whether someone can continue to use the same QCD in an Inherited IRA.

(40:15) The guys dive into a question about tax strategies relate to a defined pension benefit.

(56:30) A do-it-yourselfer wonders about an appropriate way to account for SPIA income in his spreadsheets.

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Common Estate Planning Mistakes: EDU #2449 Dec 04, 2024

Chris is joined by estate planning attorney Shelley Thompson while Jim is traveling. Chris and Shelley discuss common mistakes people make with their Wills.

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Social Security, Annuity RMDs, and Being a CFP: Q&A #2448 Nov 30, 2024

Jim and Chris discuss listener questions relating to Social Security, Annuity RMDs, and next steps after passing the CFP exam.

(5:30) George asks if you’re required to claim Social Security as soon as you turn 70.

(13:00) The guys are asked for their input on Social Security claiming strategy.

(21:00) Jim and Chris discuss whether there are differences in the handling of RMDs for different annuity types (SPIA, GMWB, and GMIB).

(36:30) A listener just passed their CFP exam (a big congrats from the whole team at JS&A!) and asks for the guys’ input on recommended next steps.

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60-day Rollover Conversion Strategy: EDU #2448 Nov 27, 2024

Jim and Chris received an email from a listener asking about completing a Roth conversion using a 60-day rollover. In response, they decided to take a dive deep into the topic, exploring what they call the “60-day rollover conversion” strategy.

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Earnings Test, IRMAA, Survivor Benefits, 529 Plans, and SPIAs: Q&A #2447 Nov 23, 2024

Jim and Chris sit down to answer listener questions related to Social Security, 529 Plans, and SPIA payments…

(6:30) A listener wonders if they will be subject to the Social Security earnings test.

(14:30) The guys weigh in on if/how a Roth conversion would impact an IRMAA appeal.

(30:30) Chris answers whether there is a time limit to apply for Survivor Benefits.

(46:30) George asks whether moving money from a 529 plan to a Roth is considered a conversion. (referenced article)

(1:04:30) The guys offer clarity on the timing for RMDs and Qualified Charitable Donations with SPIA payments

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Roth Conversions and RMDs: EDU #2447 Nov 20, 2024

Jim and Chris sit down for a Discussion edition of the EDU series to talk through some listener questions on RMDs in relation to Roth Conversions (’tis the season!).

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Social Security Benefits, Roth Conversions, and RMDs: Q&A #2446 Nov 16, 2024

Jim and Chris discuss listener questions relating to Social Security, Roth conversions, and RMDs.

(11:00) George wonders if his wife is eligible for Social Security benefits while taking care of an adult disabled child even if he is still working and has not applied for SS yet.

(19:00) Chris tackles an interesting Social Security survivor benefits strategy question.

(28:15) A listener looks for clarity on timing his Roth conversion in relation to his monthly IRA SPIA payouts.

(49:45) The guys expand on RMD rules and how they apply to MYGAs.

(1:00:00) Jim and Chris answer whether Inherited IRAs are included in the taking your RMD before doing a Roth conversion rule.

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SECURE Act Updates: EDU #2446 Nov 13, 2024

Jim and Chris sit down for another EDU show discussing updates to the SECURE Act that Jim brought back from the recent Ed Slott conference.

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Social Security, RMDs, QLACs, and Buffered ETFs: Q&A 2445 Nov 09, 2024

Jim and Chris sit down to discuss listeners questions relating to Social Security, RMDs, QLACs, and Buffered ETFs…

(12:30) The guys are asked if dual citizenship will affect Social Security benefits.

(20:30) George looks for clarity on Social Security’s family maximum rules.

(30:00) Chris explains the reduction factor when claiming a spousal Social Security benefit.

(35:45) The guys address some confusion a listener had with a recent article talking about Roth conversions once somebody begins their required minimum distributions (RMDs).

(54:30) Jim and Chris discuss what happens if somebody wants to open a Qualified Longevity Annuity Contract (QLAC), but they have not fully satisfied their Required Minimum Distributions for the year and are interested in doing a Qualified Charitable Distribution (QCD). Can they transfer money from their IRA to the QLAC before satisfying their RMD?

(1:01:00) A listener wonders if, with funds that have a one-year holding period in the design of their outcome period (buffered ETFs), are capital gains treated as long-term or short-term?

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Stretch IRA Rules and More: EDU #2445 Nov 06, 2024

Jim and Chris sit down to discuss a few things Jim brought back from his recent Ed Slott conference including a discussion of ALAR (10-year RMD rule) and stretch IRAs.

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Medicare, Roth Conversions, Spousal Benefits, 401(k) Contributions, and RMDs: Q&A #2444 Nov 02, 2024

Jim and Chris (and Jake too!) sit down to answer some listener questions about Medicare, Roth conversions, Social Security, and 401k catch up contributions…

(10:00) George wonders how his wife’s ACA premium tax credits will be affected for the first part of the year if he increases his income after she turns 65 and enrolls in Medicare.

(23:45) The guys discuss a listener’s query on how much to convert to a Roth now that she is in a low tax bracket.

(48:30) A listener looks for answers on his wife’s Social Security benefits strategy.

(55:45) George asks the guys to opine on the IRS’s 401(k) catch up contribution rules.

(1:13:30) Jim and Chris share couple PSAs. First a listener reminds the guys that residents in four states can switch between Medicare Advantage plans and traditional Medicare with medigap coverage without needing to show proof of insurability to purchase Medicare supplemental plans. Then they discuss some mistakes we found with ChatGPT when calculating required minimum distributions.

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How Listeners are Implementing Our Planning Process: EDU #2444 Oct 30, 2024

On this week’s EDU Discussion edition Jim and Chris welcome back Jake Turner, a fellow planner from the JSA team, as they take some time to opine on how some listeners are implementing their own versions of our retirement planning process.

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Social Security WEP and GPO Special: Q&A #2443 Oct 26, 2024

With Jim attending an Ed Slott conference, Chris takes some time to answer a WEP and GPO question before offering listeners general information on Social Security changes for 2025 and a detailed walkthrough of the WEP and GPO provisions of Social Security.

(6:30) George asks for more information on whether Social Security offsets are adjusted due to taking a pension early vs later.

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Qualified Annuities and IRA Deep Dive: EDU #2443 Oct 23, 2024

Jim and Chris first talk about the “Qualified Annuity Stretch” before starting a deep dive into the IRA portion of “The Retirement and IRA Show” with a discussion of 9 of Ed Slott’s “top 23 questions advisors ask”.

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Qualified Accounts, Social Security, Medicare, HSAs, and Roth Conversions: Q&A #2442 Oct 19, 2024

Jim and Chris sit down to discuss listeners questions relating to Qualified Accounts, Social Security, Medicare, HSAs, and Roth Conversions.

(6:45) The guys clarify the meaning of the word qualified when it applies to retirement accounts as pointed out by a listener to their podcast

(13:00) Georgette is curious how child-in-care family max is affected by divorce.

(25:00) Listeners provide some clarification on Medicare Part G, signing up for Medicare, and the Medicare Part D cap (see below for a link to more info).

(38:00) The guys weigh in on HSA contributions prior to Medicare enrollment.

(46:00) Jim and Chris discuss if a Roth Conversion done the year of, but prior to, turning 73 will be allowed or if any withdrawal from an IRA in that year considered an RMD.

Additional Medicare information:

Part G information
Part D cap information

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Medicare Enrollment Assistance Special Episode: EDU #2442 Oct 16, 2024

With Medicare open enrollment season here, Jim and Chris welcome a special guest, Brad Grier, who volunteers with the Nebraska State Health Insurance Assistance Program (SHIP). Brad talks with the guys about what SHIP is and how it might be helpful to you in your state.

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Social Security Benefits and Roth IRA Annuities: Q&A #2441 Oct 12, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security benefits then return to a question from last week to take a deeper look at Roth IRA Annuity payments…

(18:00) A listener asks if he might be able to collect full Social Security benefits while working part-time for a local government job.

(25:45) Georgette hopes for some help before she meets with Social Security to determine if she should take survivor benefits now.

(38:00) Jim and Chris revisit a question from last week. This week they dive deeper into the listener’s question addressing whether or not Roth IRA annuity payments from can be rolled over into a new Roth IRA.

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Medicare Insurance Special: EDU #2441 Oct 09, 2024

With Medicare open enrollment season approaching, Jim and Chris welcome a special guest, Tyler Haskell, CFP. Tyler has been a Medicare Insurance Broker for 12 years, helping people navigate the complexities of the Medicare system.

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Social Security, Retirement Planning, 529 Savings Accounts, Roth Losses, and FIAs: Q&A #2440 Oct 05, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security benefits, planning with the potential for an SO, funding a 529 savings account, losses in a Roth IRA, and Fixed Indexed Annuities…

(9:00) A listener hopes Chris can tell him if having a different name on his Birth Certificate and Social Security card is going to be an issue when he applies for benefits.

(14:30) Georgette asks for advice on filing Social Security survivor benefits and spousal benefits.

(34:30) A fellow single asks how Jim budgets and plans for the potential of a future partner entering the picture.

(45:45) The guys weigh in on a listener’s strategy to add funds to his daughter’s 529 college savings account.

(52:00) Jim and Chris discuss a Wall Street Journal letter to the editor concerning money converted into a Roth IRA that subsequently loses a significant amount of value.

(1:03:45) George looks for some answers about a Fixed Indexed Annuity he intends to purchase.

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Our Retirement Planning Process: EDU #2440 Oct 02, 2024

Jim and Chris sit down for another EDU show dedicated to our retirement planning process. In this episode the guys dialog with listeners, answering questions and expounding on key ideas.

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Buffered ETFs Special Episode: Q&A #2439 Sep 28, 2024

Jim and Chris welcome back special guest Matthew Kaufman, from Calamos Investments, to answer a series of listener questions on buffered/principle protected ETFs …

(13:00) Georgette wants to know how an ETF and those invested in it are affected if the managing firm goes bankrupt.

(22:00) A listener wonders how to assess an appropriate risk /reward with all of the variables involved with buffered ETFs and if there are any tools or approaches available to help.

(37:15) The guys offer a listener some clarity on downside protection.

(50:15) George asks about best- and worst-case scenarios with ETF caps.

(59:00) A listener queries if the guys consider ETFs as a substitute for bonds in her portfolio.

(1:13:30) George hopes there is a back test for the performance of ETFs over the last 25 years to compare it to the performance of the S&P Index.

The post Buffered ETFs Special Episode: Q&A #2439 appeared first on The Retirement and IRA Show.

Estate Planning Special Edition: EDU #2439 Sep 25, 2024

Jim and Chris welcome back Estate Planning Attorney, Shelly Thompson in this special EDU edition turned Q&A…

(8:30) A listener asks how to find a reputable estate lawyer and if there are any books Shelly recommends for learning more about Living Trusts.

(20:00) George wonders what the best practice is for making funds available to an executor that in not named as an account beneficiary. The gang also tackles a question on which type of account to pay estate taxes from.

(39:15) A question about the legality of a bank refusing to accept a Power of Attorney document is addressed.

(1:00:30) Shelly and the guys answer whether it is best to title a Trust with something other than your legal name(s) in order to make it less easily discoverable if a lawsuit is filed against you.

(1:05:15) Georgette is curious if it is best to start estate planning in her current state or wait a year or two to do it in the state she’s retiring to.

(1:07:45) A listener wants to know how often she should update her Living Trust and related documents.

(1:11:30) The gang discuss a question about setting up beneficiaries in a way that would potentially reduce the tax burden for a listener’s adult children.

The post Estate Planning Special Edition: EDU #2439 appeared first on The Retirement and IRA Show.

Social Security Child-in-Care, Disability, and Survivor Benefits; and Conduit Trusts: Q&A #2438 Sep 21, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security Child-in-Care, Disability, and Survivor Benefits, as well as Conduit Trusts…

(20:00) A listener asks if he qualifies for child-in-care benefit under his wife’s Social Security since he helps care for their disabled son, and if the son could be getting half of her Social Security. Chris also answers whether George’s brother-in-law can get Social Security Disability after a lung cancer diagnosis.

(34:30) A listener looks for clarity on their Social Security benefits since they are already collecting survivor benefits.

(48:30) George asks the guys to elaborate on how a Conduit Trust works.

The post Social Security Child-in-Care, Disability, and Survivor Benefits; and Conduit Trusts: Q&A #2438 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 13: EDU #2438 Sep 18, 2024

Jim and Chris finish their long-running series about their retirement planning process with a final discussion about asset positioning.

The post Our Retirement Planning Process and Philosophy Part 13: EDU #2438 appeared first on The Retirement and IRA Show.

COLA, WEP, and Annuities: Q&A #2437 Sep 14, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security (COLA and WEP), perspectives on annuities, and Delayed Variable Income Annuities…

(9:15) A listener wants to know if there is better way to project Social Security benefits since it does not appear the SS website takes COLA into account.

(17:30) Georgette asks if the Social Security spousal benefit is also subject to WEP.

(31:45) Another week, another AI joke to share.

(34:00) The guys discuss a listener’s perspective on their conversation last week about “winning” or “losing” with annuities.

(47:00) George writes in for some advice in helping his mother-in-law decide the best options for passing on the money in her Delayed Variable Income Annuity to her grandkids.

The post COLA, WEP, and Annuities: Q&A #2437 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 12: EDU #2437 Sep 11, 2024

Jim and Chris continue the recent series on their philosophy/approach to retirement planning and their positioning approach for retirement spending.

The post Our Retirement Planning Process and Philosophy Part 12: EDU #2437 appeared first on The Retirement and IRA Show.

Social Security Disability, AI Jokes, Reverse Mortgages, and Inherited IRAs: Q&A #2436 Sep 07, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security Disability, Minimum Dignity Floor, Reverse Mortgages, and Inherited IRAs…

(4:00) George wonders if he continues to work and his Social Security benefit is reduced to $0, if that also make his wife’s spousal benefit and child’s disability benefit $0.

(16:15) Chris answers another SS Disability Benefits question for a wife who wants to know if her disabled daughter will still receive benefits from her husband’s SS if he passes away.

(23:30) As only Jim and Chris can, the guys turn a listener’s IA generated jokes into a discussion on minimum dignity floor and annuities.

(53:15) A listener asks the guys for their opinion on considering home equity, in the form of a potential reverse mortgage, as a buffer asset.

(1:08:00) Georgette raises some questions about the differences in an Inherited IRA and a Traditional IRA if she were to pass and her adult children were to inherit both.

The post Social Security Disability, AI Jokes, Reverse Mortgages, and Inherited IRAs: Q&A #2436 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 11: EDU #2436 Sep 04, 2024

Jim and Chris continue the recent series on their philosophy/approach to retirement planning and discuss how their “positioning” approach differs from the classic “bucket” approach to saving and budgeting.

The post Our Retirement Planning Process and Philosophy Part 11: EDU #2436 appeared first on The Retirement and IRA Show.

Social Security Disability, Spousal Benefits, SPIAs, Equities, and Roth 401ks : Q&A #2435 Aug 31, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security Disability, Spousal Benefits, SPIAs, Equities, and Roth 401ks.

(6:30) George hopes Chris can confirm his Social Security math and give some input on when his wife should claim her benefits.

(17:30) A listener looks for clarification on whether his wife can claim her Social Security Benefits early then switch to full spousal benefits when he takes his full benefit.

(25:00) Jim and Chris share a listener’s joke – punny stuff!

(31:00) George asks why an annual SPIA payment ends up being less than monthly payments since the balance should earn more interest if it stays in the account longer.

(42:00) The guys talk about the difference between investing in equities with ETFs for S&P 500 versus total stock market and whether there are advantages to using total stock index.

(1:02:00) A listener wonders if the original open date of his Roth 401k still counts for the 5-year rule now that he’s rolled it over into a Roth IRA, or if the clock has restarted.

The post Social Security Disability, Spousal Benefits, SPIAs, Equities, and Roth 401ks : Q&A #2435 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process Questions Answered: EDU #2435 Aug 28, 2024

With Jim out sick, one of the other planners at Jim Saulnier & Associates, Jake Turner, joins Chris to discuss some questions that have come in about the retirement planning process.

The post Our Retirement Planning Process Questions Answered: EDU #2435 appeared first on The Retirement and IRA Show.

Social Security, Long-Term Care, Child-In Care Benefits, Annuities, and Tax Credits: Q&A #2434 Aug 24, 2024

Chris discusses listener questions relating to Social Security, long-term care, child-in-care benefits, annuities, and tax credits.

(5:00) Chris chats about a Social Security press release regarding the overpayment burden for Social Security beneficiaries.

(12:15) A listener looks for clarification on how much long-term care (LTC) coverage we’d recommend based on their situation.

(18:00) George asks about children claiming a Social Security survivors benefit and their total family maximum benefit.

(33:15) A listener wonders about child-in-care benefits for their daughter given her situation.

(42:45) Georgette asks if the starting payments from a deferred annuity within a brokerage style account are fully taxable as interest.

(52:30) George asks for thoughts on his Social Security claiming strategy.

(1:01:00) George asks about the electric vehicle tax credit.

The post Social Security, Long-Term Care, Child-In Care Benefits, Annuities, and Tax Credits: Q&A #2434 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 10: EDU #2434 Aug 21, 2024

Jim and Chris continue their recent series on our philosophy/approach and discuss potentially using home equity to fund Aging/LTC needs.

The post Our Retirement Planning Process and Philosophy Part 10: EDU #2434 appeared first on The Retirement and IRA Show.

Social Security Benefits, Inherited IRA RMDs, Timing RMDs with QCDs: Q&A #2433 Aug 17, 2024

Jim and Chris sit down to discuss listener questions relating to child-in-care benefits, delayed retirement benefits, Inherited IRA RMDs, and timing RMDs and QCDs.

(4:30) A listener wonders if she should have been collecting child-in-care benefits over the last 20 years of caring for her disabled son.

(11:00) Georgette recalls Chris speaking about delayed retirements benefits and asks Chris what the benefits, if any, are of waiting the extra 6 months to file for Social Security.

(20:15) Jim and Chris tackle a question about a (twice) Inherited IRA and whose lifetime table is used for the interim RMDs.

(34:30) The guys answer a listener’s question about the timeline requirements for purchasing a “life only” SPIA with RMD money and doing a Qualified Charitable Donation (QCD).

The post Social Security Benefits, Inherited IRA RMDs, Timing RMDs with QCDs: Q&A #2433 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 9: EDU #2433 Aug 14, 2024

Jim and Chris continue their discussion of “seesaw assets” and leveraging a long-term care insurance policy to increase your Aging/LTC reserve.

The post Our Retirement Planning Process and Philosophy Part 9: EDU #2433 appeared first on The Retirement and IRA Show.

SS Benefits, WEP, HSAs, MYGAs, and Retirement Planning: Q&A #2432 Aug 10, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security benefits, WEP, HSAs, MYGAs, and their retirement planning process.

(9:15) Chris begins the show by describing a current situation where he is trying to help someone with filing for Social Security and Medicare after spending most of their life going by a nickname that was not their legal name.

(13:00) George wonders what to expect for Social Security benefits for someone who has worked 10 years of the 35 years SS looks at in their determination.

(21:15) A listener wants to know if a 401(a) that only pays out a lump sum will be used in the Windfall Elimination Provision (WEP) calculation if the same employer also provided a pension.

(35:15) Jim and Chris answer whether or not a listener can use his individual Health Savings Account (HSA) to pay for his wife’s medical expenses.

(39:30) A listener purchased 3 MYGAs from the same company within a one-year time frame. After listening to a recent episode, she is now wondering if, when the first one matures, transferring it via a 1035 exchange to another company will fix the issue that they are currently lumped together for the purpose of the last in first out rule.

(1:08:00) The guys are asked to clarify part of their Planning process covered in the Edu series. In the hypothetical are they funding the period between “delay” and “post delay” with Social Security and/or pensions or something else?

The post SS Benefits, WEP, HSAs, MYGAs, and Retirement Planning: Q&A #2432 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 8: EDU #2432 Aug 07, 2024

Jim and Chris continue their discussion of “seesaw assets” and balancing fun spending during the “go-go” years while keeping some reserves for aging expenses later in life.

The post Our Retirement Planning Process and Philosophy Part 8: EDU #2432 appeared first on The Retirement and IRA Show.

Social Security, Annuities, and Inherited Roth IRAs: Q&A #2431 Aug 03, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, annuities, and inherited Roth IRAs.

(5:30) George asks about how he can determine the best time for his wife to claim her Social Security benefit.

(16:45) George wonders how his mother-in-law can get the Social Security Administration to use the monthly earnings test rather than the annual earnings test.

(28:00) Jim and Chris next tackle a question from a listener regarding their answer on the July 6th Q&A Show #2627 on how the 5-year rule on Roth qualified distributions impacts a non-spouse beneficiary who inherits a Roth IRA if the beneficiary never owned a Roth IRA before. The original answer was incorrect, and Jim and Chris take the opportunity with this listener’s question to clear up the confusion.

(53:45) A listener looks for clarification on a previous podcast episode regarding variable annuities within IRAs.

(1:04:15) A listener wonders about implementing a multi-year guaranteed annuity (MYGA) in his retirement plan.

Articles Referenced:

https://irahelp.com/slottreport/part-1-inherited-roth-ira-by-non-spouse-beneficiary-5-year-clock-issues/

https://irahelp.com/slottreport/part-2-inherited-roth-ira-by-spouse-beneficiary-5-year-clock-issues/

The post Social Security, Annuities, and Inherited Roth IRAs: Q&A #2431 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 7: EDU #2431 Jul 31, 2024

Jim and Chris pick up where they left off discussing their retirement planning philosophy with fun money and the seesaw analogy. In this episode the guys talk about how and why Jim changed his positioning strategy to better adapt to their retirement spending philosophy.

The post Our Retirement Planning Process and Philosophy Part 7: EDU #2431 appeared first on The Retirement and IRA Show.

Social Security, Child-In-Care Benefits, Roth IRAs, Buffered Products, and Inherited IRAs: Q&A #2430 Jul 27, 2024

Jim and Chris discuss listeners questions relating to Social Security, Roth IRAs, buffered products, and inherited IRAs.

(13:45) A listener looks for clarification on claiming a “child-in-care” Social Security benefit.

(25:00) A listener asks what happens to a spouse’s child-in-care benefit if the person passes away.

(28:30) A listener wonders about any repercussions for not reporting their children’s original Roth IRA contributions years ago.

(52:00) A listener asks if there are any buffered products offering terms longer than one year.

(1:07:15) A listener looks for clarification on how inherited IRAs are officially titled.

The post Social Security, Child-In-Care Benefits, Roth IRAs, Buffered Products, and Inherited IRAs: Q&A #2430 appeared first on The Retirement and IRA Show.

In-Depth Principal Protected Structured ETFs: EDU #2430 Jul 24, 2024

Jim and Chris welcome special guest Matt Kaufman from Calamos Investments. Together they take an in-depth look at the development, brief history (including structured notes, fixed indexed annuities, and new exchange traded funds), function, and options trades in the background of Principal Protected Structured ETFs.

The post In-Depth Principal Protected Structured ETFs: EDU #2430 appeared first on The Retirement and IRA Show.

Delayed Retirement Credits, Pensions, HSAs and Annuities: Q&A #2429 Jul 20, 2024

Jim and Chris sit down to discuss listeners questions relating to Social Security delayed benefits, rolling a pension excess to an IRA, HSAs, and when to turn on an annuity’s living benefit.

(15:00) A listener wonders if Chris can clear up why his Social Security delayed benefits calculations don’t match the what the SSA website shows.

(28:30) Georgette hopes the guys can help her with the pros and cons of suspending Social Security benefits into order to earn delayed retirement credits.

(35:15) A listener asks if rolling an excess in his pension into an IRA is the best option considering he would like access to the money soon without penalties and with minimum tax liability.

(53:00) Jim and Chris answer a listener question regarding what he needs to do to prove he’s in a high-deductible health plan in order to contribute to an HSA. Note: the answer Jim and Chris provided was not fully accurate and we recommend listening to the 7/27/2024 show for clarification.

(58:45) George ponders when to turn on his annuity’s living benefit.

The post Delayed Retirement Credits, Pensions, HSAs and Annuities: Q&A #2429 appeared first on The Retirement and IRA Show.

Estate Planning 101: EDU #2429 Jul 17, 2024

Jim and Chris welcome Estate Planning Attorney, Shelly Thompson to discuss the basics of estate planning.

The post Estate Planning 101: EDU #2429 appeared first on The Retirement and IRA Show.

Tax Questions Answered: Q&A #2428 Jul 13, 2024

In this episode Chris and guest Paul Neiffer, CPA will tackle listener tax questions.

(3:45) A listener’s conversation with their sister has them wondering what strategies are recommended for the last high-earning year before retirement.

(19:00) George plans to sell his rental property and is trying to understand what tax forms he needs as well as the capital gains implications.

(28:00) A listener wonders if there is a way to pay taxes from a Roth IRA account that has already been taxed during a conversion that doesn’t involve form 2210.

(41:30) Chris and Paul help a new listener with how to best time Roth Conversions and whether he’ll be paying Social Security taxes thus increasing his benefits.

(52:10) Georgette wants to know if you roll a T-bill over in Treasury Direct, do you pay federal tax on it for the year it rolls over or do you only pay the tax when you actually receive the payment into your bank account?

The post Tax Questions Answered: Q&A #2428 appeared first on The Retirement and IRA Show.

Our Retirement Philosophy/Approach In 10 Minutes Or Less: EDU #2428 Jul 10, 2024

Jim and Chris discuss listener submissions with advice on how we can describe our retirement planning approach in 10 minutes or less.

The post Our Retirement Philosophy/Approach In 10 Minutes Or Less: EDU #2428 appeared first on The Retirement and IRA Show.

COLA Calculations, WEP, Annuitizing, Roth Pro Rata Rule, and Inherited Roth IRAs: Q&A #2427 Jul 06, 2024

Jim and Chris sit down to discuss listener questions relating to COLA, WEP, the Roth Conversion Pro Rata Rule, and Inherited Roth IRAs.

(15:30) In part 1 of George’s 3 email questions Chris goes into how to properly apply COLA to your Social Security calculations.

(24:00) Chris talks about determining whether you are subject to WEP to answer part 2 of George’s email.

(27:15) To answer George’s third and final question, the guys discuss covering the gap between retiring and collecting Social Security.

(47:00) Jim and Chris address the Roth Conversion Pro Rata Rule for a listener and whether or not it applies to conversions from a Rollover IRA.

(1:01:30) Jim may have said he was done talking about the 5-year rule but that was before Georgette sent him a question the guys have yet to address – when does the count start with an Inherited Roth IRA? Note: the answer Jim and Chris provided was not fully accurate and we recommend listening to the 8/3/2024 show for clarification.

The post COLA Calculations, WEP, Annuitizing, Roth Pro Rata Rule, and Inherited Roth IRAs: Q&A #2427 appeared first on The Retirement and IRA Show.

Is There a Simpler Approach to Retirement Planning?: EDU #2427 Jul 03, 2024

Jim and Chris say goodbye to their Annuity Awareness Month and pick up where they left off discussing their process. In this episode they respond to an email from a listener who feels they might be overcomplicating it. The guys discuss his simplified retirement planning approach and how people’s spending strategy may change throughout the course of their retirement.

The post Is There a Simpler Approach to Retirement Planning?: EDU #2427 appeared first on The Retirement and IRA Show.

Social Security, Roth Withdrawals, and IRAs: Q&A #2426 Jun 29, 2024

Jim and Chris sit down to discuss listeners questions relating to Social Security, Roth withdrawals, and IRAs.

(13:00) Georgette has been getting mixed messages about her survivor and spousal benefit options.

(26:30) A couple reevaluates when to begin taking Social Security.

(42:00) A listener looks for clarification on Roth Conversion rules.

(58:30) Jim and Chris answer a Roth withdrawal quandary.

(1:02:45) George asks if multiple IRAs with different timeline and investment goals is part of the strategy.

The post Social Security, Roth Withdrawals, and IRAs: Q&A #2426 appeared first on The Retirement and IRA Show.

Covering MDF With Lifetime Secure Income: EDU #2426 Jun 26, 2024

Jim and Chris wind down national annuity awareness month by discussing covering MDF with lifetime secure income via an annuity.

The post Covering MDF With Lifetime Secure Income: EDU #2426 appeared first on The Retirement and IRA Show.

Social Security, IRMAA, Roth Conversions, and IRAs: Q&A #2425 Jun 22, 2024

Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, Roth conversions, and IRAs.

(3:45) A listener asks if her pension benefit will reduce her spouse’s Social Security benefit.

(14:30) A listener wonders if there’s anything they need to be aware of when considering IRMAA and Roth conversions.

(24:00) George asks about the 5-year rule for taking distributions from a Roth IRA.

The post Social Security, IRMAA, Roth Conversions, and IRAs: Q&A #2425 appeared first on The Retirement and IRA Show.

Insurance Companies and Annuities: EDU #2425 Jun 19, 2024

Jim and Chris sit down to continue their annuity discussion focusing on the insurance companies that sell annuities.

Click here for article #1.

Click here for article #2.

The post Insurance Companies and Annuities: EDU #2425 appeared first on The Retirement and IRA Show.

Social Security, 529 Conversions, FIAs, and RMDs: Q&A #2424 Jun 15, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, 529 Roth conversions, and fixed index annuities (FIAs).

(4:45) A listener wonders if his children’s Social Security benefits will be reduced by him working longer.

(15:45) A listener looks for clarification on calculating spousal Social Security benefits and what happens when you delay claiming.

(29:30) Georgette wonders if she meets the time requirements for rolling a New York 529 plan into a Roth IRA.

(46:45) George looks for clarification on converting a 529 plan into a Roth IRA and the specific rules behind the conversion.

(58:45) A listener asks if there’s any way to project fixed index annuities (FIAs) future fair market values to help determine its RMD impacts.

The post Social Security, 529 Conversions, FIAs, and RMDs: Q&A #2424 appeared first on The Retirement and IRA Show.

Income Benefits Of Non-Annuitized Annuities: EDU #2424 Jun 12, 2024

Jim and Chris continue their discussion from last weeks QA show regarding the income benefits of a non annuitized annuity.

The post Income Benefits Of Non-Annuitized Annuities: EDU #2424 appeared first on The Retirement and IRA Show.

Rollover Issues and Income Annuities: Q&A #2423 Jun 08, 2024

Jim and Chris take a deep dive on a listener question relating to a problem with a rollover and provide their thoughts on purchasing a Deferred Income Annuity (DIA).

The post Rollover Issues and Income Annuities: Q&A #2423 appeared first on The Retirement and IRA Show.

Kicking Off Annuity Awareness Month: EDU #2423 Jun 05, 2024

Jim and Chris kick off annuity awareness month in 2024 by chatting about annuities, where they fit into retirement and retirement planning.

The post Kicking Off Annuity Awareness Month: EDU #2423 appeared first on The Retirement and IRA Show.

Annuities, Pensions, and Social Security: Q&A #2422 Jun 01, 2024

June kicks off annuity awareness month! Jim and Chris sit down to discuss and take a deep dive on listener questions relating to annuities.

(21:30) A fellow advisor and listener looks for clarification on a clients Social Security benefit statement.

(49:00) George wonders, if more people think of annuities like pensions, would they be a more popular and accepted option for retirement.

(57:45) Georgette owns a variable annuity within her IRA and wonders when she should annuitize it in retirement.

The post Annuities, Pensions, and Social Security: Q&A #2422 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 6: EDU #2422 May 29, 2024

Jim and Chris continue their walk through of our philosophy and approach to retirement planning while sharing details on elements like the Minimum Dignity Floor, Secure Income, See-Through Portfolios, Asset Positioning and the ever-popular Fun Number.

The post Our Retirement Planning Process and Philosophy Part 6: EDU #2422 appeared first on The Retirement and IRA Show.

Social Security, WEP, Lifecycle Funds, and Retirement Planning: Q&A #2421 May 25, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, WEP, Lifecycle funds, and retirement planning.

(8:30) A listener looks for clarification on when WEP will be applied to his Social Security benefit.

(25:30) A listener looks for thoughts on his Social Security claiming strategy.

(35:30) The same listener as above asks about Lifecycle funds and potentially using them to cover his Minimum Dignity Floor (MDF).

(54:30) Jim and Chris share their thoughts and also open up suggestions to listeners on if they would like to participate in providing a 10-minute summary of their approach to retirement planning.

(1:01:30) A listener wonders how illiquid assets, such as a home come into play for retirement planning.

The post Social Security, WEP, Lifecycle Funds, and Retirement Planning: Q&A #2421 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 5: EDU #2421 May 22, 2024

Jim and Chris continue their walk through of their philosophy and approach to retirement planning while sharing details on elements like the Minimum Dignity Floor, Secure Income, See-Through Portfolios, Asset Positioning and the ever-popular Fun Number.

The post Our Retirement Planning Process and Philosophy Part 5: EDU #2421 appeared first on The Retirement and IRA Show.

IRAs, HSAs, QCDs, Taxes, and Rolling Passive Losses: Q&A #2420 May 18, 2024

Chris and Paul sit down to answer listeners questions regarding IRAs, HSAs, QCDs, taxes, and rolling forward passive losses.

(3:30) George asks about being able to take an IRA distribution and rolling it into an HSA.

(22:00) Georgette wonders if she can delay taking her first RMD to benefit from the timing of her current qualified charitable distributions (QCDs).

(43:30) George looks for thoughts on contributing pre-tax in his employer plans in an attempt to allow for normal Roth IRA contributions.

(55:45) A listener asks about being able to use a deceased husbands passive losses to offset potential future appreciation.

The post IRAs, HSAs, QCDs, Taxes, and Rolling Passive Losses: Q&A #2420 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 4: EDU #2420 May 15, 2024

Jim and Chris continue their walk through of their philosophy and approach to retirement planning while sharing details on elements like the Minimum Dignity Floor, Secure Income, See-Through Portfolios, Asset Positioning and the ever-popular Fun Number.

The post Our Retirement Planning Process and Philosophy Part 4: EDU #2420 appeared first on The Retirement and IRA Show.

Social Security, Roth IRAs, Trusts, HSA Conversions, and MDF: Q&A #2419 May 11, 2024

Jim and Chris discuss listener questions relating to Social Security, survivorship benefits, Roth IRAs, Trusts, HSA conversions, and MDF.

(5:45) George looks for clarification on the Social Security survivorship benefits.

(11:15) A listener asks about how much their Social Security benefit will be reduced by not working up to full retirement age.

(19:45) George tries to get clarity on the 5-year rules associated with Roth IRAs.

(31:45) A listener asks about the thinking behind opening two different Trusts for inheriting retirement assets.

(36:30) A listener wonders about the rules associated with converting qualified retirement assets into a health savings account (HSA).

(45:15) Georgette asks for clarity on covering the minimum dignity floor (MDF) in a joint and survivorship scenario.

(57:15) A listener provides some clarification on FSAs and HSA accounts as well as the custodian responsibility for both.

The post Social Security, Roth IRAs, Trusts, HSA Conversions, and MDF: Q&A #2419 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 3: EDU #2419 May 08, 2024

Jim and Chris continue their walk through of their philosophy and approach to retirement planning while sharing details on elements like the Minimum Dignity Floor, Secure Income, See-Through Portfolios, Asset Positioning and the ever-popular Fun Number.

The post Our Retirement Planning Process and Philosophy Part 3: EDU #2419 appeared first on The Retirement and IRA Show.

Cognitive Decline, MDF, Taxes, Inflation, and Fun Spending: Q&A #2418 May 04, 2024

Jim and Chris sit down to discuss listener questions relating to cognitive decline, minimum dignity floor (MDF), taxes, inflation, and fun spending.

(7:15) Jim and Chris begin by discussing several listener emails regarding cognitive decline in retirement and items to be aware of.

Link to New York Times podcast on cognitive decline: CLICK HERE

(26:00) A listener provides her input on the taxes associated with the Minimum Dignity Floor (MDF).

(37:10) A listener looks for thoughts on claiming Social Security, pension income and building inflation adjustments into the MDF.

(57:00) A listener gives their input on dollars invested for MDF and Fun Spending that might not be needed for 10+ years.

The post Cognitive Decline, MDF, Taxes, Inflation, and Fun Spending: Q&A #2418 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 2: EDU #2418 May 01, 2024

Jim and Chris continue their walk through of their philosophy and approach to retirement planning while sharing details on elements like the Minimum Dignity Floor, Secure Income, See-Through Portfolios, Asset Positioning and the ever-popular Fun Number.

The post Our Retirement Planning Process and Philosophy Part 2: EDU #2418 appeared first on The Retirement and IRA Show.

Social Security, Survivor/Spousal Benefits, and COLAs: Q&A #2417 Apr 27, 2024

Chris sits down to discuss listener questions relating to Social Security, survivor benefits, spousal benefits, and COLAs.

(3:45) Georgette looks for clarification on collecting a Social Security survivor benefit.

(20:45) A listener wonders if she can qualify for child-in-care spousal benefits as an adoptive parent.

(27:30) A listener asks how they calculate the maximum possible Social Security benefit in future years (3-6 years down the line).

(35:30) A listener wonders why her kids were able to claim a Social Security benefit based on her husbands benefit amount versus his PIA.

(41:15) A listener asks why Chris uses a Social Security COLA of 2% while looking at the historical average for COLAs.

The post Social Security, Survivor/Spousal Benefits, and COLAs: Q&A #2417 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Part 1: EDU #2417 Apr 24, 2024

Jim and Chris continue their walk through of their philosophy and approach to retirement planning while sharing details on elements like the Minimum Dignity Floor, Secure Income, See-Through Portfolios, Asset Positioning and the ever-popular Fun Number.

The post Our Retirement Planning Process and Philosophy Part 1: EDU #2417 appeared first on The Retirement and IRA Show.

Capital Gains, IRMAA, Roth Conversions, and Basis: Q&A #2416 Apr 20, 2024

Chris and Paul sit down to discuss listener questions relating to capital gains, IRMAA, Roth conversions, and basis.

(4:10) Chris and Paul chat about an IRS notice.

(10:00) A listener asks about the sale of a house and the possible capital gains exclusions allowed for single/married people.

(17:45) George wonders if IRMAA avoidance and a large Roth conversion can be undone.

(36:30) George looks for clarification on if he can specify his future IRA distributions to prioritize taking from the after-tax basis portion or not.

(49:00) A listener explains their own personal projections and looks for thoughts on Roth conversions/tax planning in retirement ahead of RMD age.

The post Capital Gains, IRMAA, Roth Conversions, and Basis: Q&A #2416 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process and Philosophy Intro: EDU #2416 Apr 17, 2024

This is the introductory show of a series Jim and Chris are calling ”Revealing the Secure Retirement Income Process”. On the next several shows they will walk you through their philosophy and approach to retirement planning while sharing details on elements like the Minimum Dignity Floor, Secure Income, See-Through Portfolios, Asset Positioning and the ever-popular Fun Number.

The post Our Retirement Planning Process and Philosophy Intro: EDU #2416 appeared first on The Retirement and IRA Show.

Social Security, IRMAA, Wash Sales, and Annuity Alternatives: Q&A #2415 Apr 13, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, IRMAA, wash sales, and annuity alternatives.

(17:30) George wonders if his Social Security benefit will be affected due to his earnings in Canada.

(25:45) George wonders if he can let the SSA know about discontinuing Roth conversions to avoid the associated IRMAA surcharges.

(34:15) A listener asks about the timing behind claiming a Social Security survivor benefit.

(43:00) A listener looks for thoughts on exchanging bond funds within a brokerage account with regard to the wash sale rule.

(45:00) A listener reaches out to Jim and Chris with a Harvard study that they often reference on their show indicating a person’s ability to understand financial concepts begins diminishing at age 53.

Associated Video: https://www.youtube.com/watch?v=IzohbdGQEaI | Associated Book Summary: http://lewismandell.com/

(55:00) George looks for any applicable alternatives to annuities.

The post Social Security, IRMAA, Wash Sales, and Annuity Alternatives: Q&A #2415 appeared first on The Retirement and IRA Show.

Our Retirement Planning Process Prequel: EDU #2415 Apr 10, 2024

Jim and Chris sit down to revisit our retirement planning process and a recent article written by Bloomberg.

Link to article: Wall Street Just Doesn’t Get It on Retirement – Bloomberg

The post Our Retirement Planning Process Prequel: EDU #2415 appeared first on The Retirement and IRA Show.

IRMAA Premiums, Social Security, Annuities, and Medicare: Q&A #2414 Apr 06, 2024

Jim and Chris sit down to discuss listener questions relating to IRMAA premiums, Social Security, annuities, and Medicare.

(15:00) A listener asks about the timing behind an increase in his IRMAA premiums.

(24:30) George looks for clarification on the rules surrounding a spousal Social Security benefit.

(34:15) George wonders if Jim and Chris are going to touch on which questions you should ask an agent before buying an annuity.

(55:00) A listener asks about being able to contribute to an HSA while on Medicare.

The post IRMAA Premiums, Social Security, Annuities, and Medicare: Q&A #2414 appeared first on The Retirement and IRA Show.

Capital Gains and Wash Sale Rule: EDU #2414 Apr 03, 2024

Jim, Chris, and in-house CPA, Paul sit down to discuss how capital gains and the associated wash sale rule work.

The post Capital Gains and Wash Sale Rule: EDU #2414 appeared first on The Retirement and IRA Show.

Taxes, IRAs, Roth Conversions, Basis, and Trusts: Q&A #2413 Mar 30, 2024

Jim, Chris, and Paul discuss listener questions relating to taxes, IRAs, Roth conversions, basis, and Trusts.

(12:00) Georgette asks a question on how to calculate her net of tax future IRA distributions correctly without being “double taxed” in her projections.

(19:00) A listener looks for the teams thoughts on whether or not Roth conversions while in the 32% bracket could make sense.

(34:00) A listener from South Carolina looks for clarification on the step up in basis at a spouses passing in a community property state.

(1:01:30) A listener in Florida asks for opinions on potential ways to avoid the large taxes associated with leaving a Trust to his special needs son.

The post Taxes, IRAs, Roth Conversions, Basis, and Trusts: Q&A #2413 appeared first on The Retirement and IRA Show.

Retirement Planning Dialogue Series 3: EDU #2413 Mar 27, 2024

Jim and Chris continue their dialogue series discussing various approaches to retirement planning and how listeners approach their own retirement.

The post Retirement Planning Dialogue Series 3: EDU #2413 appeared first on The Retirement and IRA Show.

Social Security, Rollovers, Annuities, and Trusts: Q&A #2412 Mar 23, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, rollovers, annuities, and trusts.

(6:00) George in Ohio asks about delaying a Social Security benefit, claiming retroactively, and if the SSA will know how to handle the associated spousal benefit.

(14:00) A listener from Maine looks for help calculating his wives Social Security benefit at full retirement age.

(22:15) A listener asks about rolling 401(k) employer plan dollars into an IRA after changing employers.

(27:30) A listener in Florida asks how we go about evaluating an existing annuity to decide if it fits within a retirement plan.

(1:05:00) George in California asks about naming a Trust as beneficiary of a life insurance policy.

The post Social Security, Rollovers, Annuities, and Trusts: Q&A #2412 appeared first on The Retirement and IRA Show.

Retirement Planning Dialogue Series 2: EDU #2412 Mar 20, 2024

Jim and Chris continue their dialogue series discussing various approaches to retirement planning and how listeners approach their own retirement.

The post Retirement Planning Dialogue Series 2: EDU #2412 appeared first on The Retirement and IRA Show.

Social Security, 529/Roth Conversions, and HSAs: Q&A #2411 Mar 16, 2024

Jim and Chris discuss listener questions relating to Social Security, WEP, GPO, 529 conversions, HSAs, and Roth conversions.

(5:30) A listener from Ohio asks about a unique Social Security survivorship scenario relating to children under a different legal guardianship.

(13:15) A Michigan listener looks for clarification on when his wife can begin claiming a spousal Social Security benefit.

(16:30) A listener in Colorado wonders if her PERA pension will affect her husbands Social Security benefit at her passing.

(25:45) The same Ohio listener from question 1 asks for a basic 101 description of WEP and GPO.

(33:45) George from Pennsylvania asks if the owner of a Roth IRA can make a contribution in the same year as a 529 conversion comes into the Roth account.

(41:30) A listener in New Hampshire wonders if he can roll funds from a pre-tax IRA into a 529 plan.

(47:00) Georgette provides some commentary on folks who may be using HSA accounts for personal spending rather than qualified healthcare expenses.

(58:45) A listener in Pennsylvania looks for advice on whether or not to continue his pre-tax 401(k) contributions while also doing Roth conversions.

The post Social Security, 529/Roth Conversions, and HSAs: Q&A #2411 appeared first on The Retirement and IRA Show.

Retirement Planning Dialogue Series 1: EDU #2411 Mar 13, 2024

Jim and Chris kick off a dialogue series discussing various approaches to retirement planning and how listeners approach their own retirement.

The post Retirement Planning Dialogue Series 1: EDU #2411 appeared first on The Retirement and IRA Show.

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