The Retirement and IRA Show

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: QA #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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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).

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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.

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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?

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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.

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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/

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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.

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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.

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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.

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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.

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Estate Planning 101: EDU #2429 Jul 17, 2024

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

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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?

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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.

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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.

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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.

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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.

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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.

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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.

Social Security, GPO, HSAs, QCDs, Inflation, and QLACs: Q&A #2410 Mar 09, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, GPO, HSAs, QCDs, inflation, and QLACs.

(8:30) George from Colorado asks for clarification on a couple of questions regarding the effects of GPO.

(25:20) A listener provides some helpful input on converting funds from a taxable account into an HSA.

(37:05) A listener from Michigan comments on a previous Q&A episode regarding QCDs from a credit union.

(49:20) A Texan listener asks about inflation assumptions for Social Security.

(1:14:30) A listener asks if the owner of the a 529 plan lists themselves to be the beneficiary, can they then roll the funds over into a Roth IRA.

(1:17:10) Georgette wonders if purchasing a QLAC within her Roth IRA will retain the ability for tax free distributions.

The post Social Security, GPO, HSAs, QCDs, Inflation, and QLACs: Q&A #2410 appeared first on The Retirement and IRA Show.

Converting A 529 To A Roth IRA: EDU #2410 Mar 06, 2024

Jim and Chris sit down to discuss a couple of articles and questions relating to converting 529 assets into a Roth IRA.

Allen Roth Article: https://www.advisorperspectives.com/articles/2024/02/15/law-strategies-convert-college-529-rothhttps://www.529conference.com/status-board-secure-2-0-529-state-updates/

NY Times Article: https://rethinking65.com/2024/02/19/money-in-college-savings-accounts-can-now-go-toward-retirement/

529 Conference Article: https://www.529conference.com/status-board-secure-2-0-529-state-updates/

The post Converting A 529 To A Roth IRA: EDU #2410 appeared first on The Retirement and IRA Show.

Medicare, Fraud Awareness, Social Security Survivorship, Pensions, and RMDs: Q&A #2409 Mar 02, 2024

Jim and Chris discuss listener questions relating to Medicare, fraud awareness, Social Security survivorship, pensions, and RMDs.

(Intro) Jim and Chris begin the show with a clarification from the Wednesday’s EDU show of prohibited transactions completed inside an IRA and whether or not SECURE Act 2 impacted the previous prohibited transaction rules.

(14:45) George from Texas provides a helpful PSA letting listeners know when to expect Medicare to reach out with info on upcoming cost and eligibility.

(19:30) Georgette from Texas gives a insightful PSA on her custodian reaching out to make her aware of some suspected larger, fraudulent IRA distributions.

(28:45) An Ohio listener asks if his wife will be eligible to receive a Social Security disability benefit based on their current ages.

(34:15) George in Pennsylvania looks for clarification on any special Social Security considerations when the primary earning spouse passes away early before peak earnings.

(41:00) A listener in Ohio looks for some insight on private equity based insurance companies buying up company pensions.

(1:04:00) A listener from Georgia asks for some help with determining the late RMD penalty for her aunts estate accounts.

The post Medicare, Fraud Awareness, Social Security Survivorship, Pensions, and RMDs: Q&A #2409 appeared first on The Retirement and IRA Show.

Taking The 2024 Ed Slott Quiz Continued: EDU #2409 Feb 28, 2024

Jim and Chris sit down to continue their discussion on the annual quiz given out by the Ed Slott program for 2024.

The post Taking The 2024 Ed Slott Quiz Continued: EDU #2409 appeared first on The Retirement and IRA Show.

Social Security, Ethics Requirements, MDF, and Trust Funding: Q&A #2408 Feb 24, 2024

Jim and Chris discuss listener questions relating to Social Security, ethics requirements, MDF, and special needs trust funding.

(7:15) George looks for some clarification on his Social Security claiming strategy and personal benefit calculation.

(26:00) A listener provides some input on a previous show relating to a continuing education ethics requirement and looks for clarity on a survivor/spousal Social Security question.

(36:45) A New Jersey listener provides a AAA website/tool that can be used to calculate transportation-specific minimum dignity floor (MDF) costs.

(54:00) A listener in Minnesota looks for ideas on the best way to fund a special needs trust.

The post Social Security, Ethics Requirements, MDF, and Trust Funding: Q&A #2408 appeared first on The Retirement and IRA Show.

Taking The 2024 Ed Slott Quiz: EDU #2408 Feb 21, 2024

Jim and Chris sit down to discuss and take a quiz given out by the Ed Slott program on an annual basis for 2024.

The post Taking The 2024 Ed Slott Quiz: EDU #2408 appeared first on The Retirement and IRA Show.

Social Security, IRMAA, GPO, and Annuities: Q&A #2407 Feb 17, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, IRMAA, GPO, annuities, and the minimum dignity floor.

(7:45) A listener from Oklahoma asks about his mother ability to claim a Social Security survivor and child in care benefit.

(16:45) George wonders when he’d be able to appeal a previous IRMAA surcharge.

(26:45) A listener in Missouri looks for clarification on the effects of GPO on a potential future Social Security survivorship benefit.

(39:30) A listener asks about a deferred annuity and the advantages/disadvantages.

(1:02:45) George in Texas shares his plan for an eventual SPIA purchase and covering his minimum dignity floor (MDF) shortage in retirement.

The post Social Security, IRMAA, GPO, and Annuities: Q&A #2407 appeared first on The Retirement and IRA Show.

Secure Act 2.0 and Section 204 Continued: EDU #2407 Feb 14, 2024

Jim and Chris sit down to continue their detailed discussion on the Secure Act 2.0, specifically, section 204.

The post Secure Act 2.0 and Section 204 Continued: EDU #2407 appeared first on The Retirement and IRA Show.

Social Security, SSA-44, MDF, Inflation, and Rollovers: Q&A #2406 Feb 10, 2024

Jim and Chris sit down to discuss listeners questions relating to Social Security, SSA-44, IRMAA, MDF, inflation, and rollovers.

(6:45) Georgette asks if she can begin claiming a Social Security spousal benefit before claiming her own benefit down the road.

(20:00) A listener in Virginia comments on a previous shows question regarding the sale of a property, and filing of SSA-44.

(39:00) A Californian listener wonders about accounting for minimum dignity floor (MDF) coverage and the associated inflationary adjustments.

(1:14:00) A listener from California asks if his 403(b) will be considered tax-deferred when he rolls it into an IRA after retirement.

The post Social Security, SSA-44, MDF, Inflation, and Rollovers: Q&A #2406 appeared first on The Retirement and IRA Show.

Different Approaches To Retirement Planning Continued: EDU #2406 Feb 07, 2024

Jim and Chris sit down to continue their discussion from last week on a listeners do-it-yourself retirement plan.

The post Different Approaches To Retirement Planning Continued: EDU #2406 appeared first on The Retirement and IRA Show.

Roth Conversions, Social Security, CD Ladders, and SPIAs: Q&A #2405 Feb 03, 2024

Jim and Chris sit down to discuss listeners questions relating to Roth conversions, Social Security, CD ladders, and SPIAs.

(3:30) A Californian listener wonders if Roth conversions are subject to the Social Security earnings test.

(9:30) Georgette from Georgia looks for clarification on the maximum earnings limit regarding her husbands Social Security statement.

(16:15) A listener asks about building CD ladders and how to re-invest the funds as they mature throughout the ladder.

(36:45) A Colorado listener wonders how to look into SPIAs and determine if they’re being issued by a private equity insurance company.

The post Roth Conversions, Social Security, CD Ladders, and SPIAs: Q&A #2405 appeared first on The Retirement and IRA Show.

Different Approaches To Retirement Planning: EDU #2405 Jan 31, 2024

Jim and Chris take a deep dive on a listeners email describing their approach to retirement planning and provide their own input.

The post Different Approaches To Retirement Planning: EDU #2405 appeared first on The Retirement and IRA Show.

Social Security, IRMAA, Secure Act 2.0, and RMDs: Q&A #2404 Jan 27, 2024

Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, Secure Act 2.0, and RMDs.

(8:45) A listener from Texas looks for clarity on how a Social Security spousal offset can be calculated given their situation.

(24:30) A New York listener asks about the level of IRMAA premium that he and his wife will pay based on the timing of filing their form SSA-44.

(33:00) An Arizona listener provides some input and thoughts on the recently discussed section 204 in Secure 2.0.

(52:15) George in Pennsylvania wonders about how to calculate the account value of an annuity when considering it for RMD purposes given Secure 2.0.

Article Link #1: Click Here

Article Link #2: Click Here

The post Social Security, IRMAA, Secure Act 2.0, and RMDs: Q&A #2404 appeared first on The Retirement and IRA Show.

Section 204 Of Secure Act 2.0: EDU #2404 Jan 24, 2024

Jim and Chris take a deep dive into Section 204 of SECURE Act 2, and how an annuitized annuity held inside an IRA may be used to offset RMD’s from remaining IRA’s.

The post Section 204 Of Secure Act 2.0: EDU #2404 appeared first on The Retirement and IRA Show.

Social Security, Roth Conversions, Taxes, CRTs, Beneficiaries, and MYGAs: Q&A #2403 Jan 20, 2024

Jim and Chris discuss listeners questions relating to Social Security, Roth conversions, taxes, CRTs, beneficiaries, and MYGAs.

(2:45) A Texan listener looks for clarification on a Social Security spousal benefit for someone not living in the US, marrying someone who is not a US resident.

(10:15) George from Massachusetts asks about converting after-tax dollars and the taxes on Roth conversions.

(23:45) George from Pennsylvania mentions the possibility of using a Charitable Remainder Trust (CRT) as a beneficiary for an IRA.

(29:15) George in California provides some input on making sure to select an attorney with specific knowledge when constructing Trusts, legal documents, etc.

(48:30) A listener in Massachusetts wonders about a multi-year guaranteed annuity (MYGA) within an IRA and how distributions are treated with regard to RMDs.

The post Social Security, Roth Conversions, Taxes, CRTs, Beneficiaries, and MYGAs: Q&A #2403 appeared first on The Retirement and IRA Show.

Private Letter Ruling On Inherited IRAs: EDU #2403 Jan 17, 2024

Jim and Chris sit down to discuss a recently released private letter ruling regarding an inherited IRA and beneficiaries.

The post Private Letter Ruling On Inherited IRAs: EDU #2403 appeared first on The Retirement and IRA Show.

Social Security, Annuities, MDF, Beneficiaries, and Taxes: Q&A #2402 Jan 13, 2024

Jim and Chris sit down to discuss listener questions relating to Social Security, annuities, MDF, beneficiaries, and taxes.

(5:30) A Washington listener wonders if stock options should be counted towards earnings when considering Social Security.

(20:15) A New York listener comments on trying to discuss his form SSA-44 with the local Social Security office.

(27:15) A listener in Minnesota wonders if they should prioritize IRA distributions from one either spouses account or not.

(40:00) George in Connecticut looks for advice on whether or not he should use an older fixed annuity to help cover his future minimum dignity floor (MDF) need.

(56:30) A listener proposes a hypothetical situation and asks about a beneficiary change in an inherited IRA currently taking RMDs from a Trust to an individual.

(1:07:15) George in Louisiana wonders if he should contribute to his pre-tax accounts rather than Roth given his projected future tax picture in retirement.

The post Social Security, Annuities, MDF, Beneficiaries, and Taxes: Q&A #2402 appeared first on The Retirement and IRA Show.

Target Outcome TIPS ETFs: EDU #2402 Jan 10, 2024

Jim and Chris sit down to continue to their discussion on some defined outcome treasury inflation protected securities (TIPS) ETFs.

The post Target Outcome TIPS ETFs: EDU #2402 appeared first on The Retirement and IRA Show.

Medicare, IRMAA, Social Security, Roth Conversions, Taxes, RMDs, and Trusts: Q&A #2401 Jan 06, 2024

Jim and Chris discuss listeners questions relating to Medicare, IRMAA, Social Security, Roth conversions, taxes, RMDs, and trusts.

(5:00) George from Arizona asks why Medicare doesn’t “true up” IRMAA penalties on a tax return.

(12:00) George in Florida wonders if a couple has to be married for 10 years consecutively to qualify for a Social Security spousal benefit.

(20:30) A listener from Michigan looks for advice on Medicare as an eventual USPS Federal retiree.

(32:15) A listener comments on this week’s EDU show and provides some helpful insight on resources for Medicare.

(35:45) George in Oregon asks a couple of questions relating to Roth conversions and the best way to pay taxes on the conversions.

(39:45) A listener wonders if he and his wife’s aggregate required minimum distribution (RMD) can be satisfied by taking the distribution from his IRA only.

(43:00) A new listener looks for investment options/suggestions to make up for his lack of Social Security benefit in retirement.

(1:01:30) A Michigan listener asks about listing “master trusts” and sub-trusts” as beneficiaries to an IRA in Charles Schwab.

The post Medicare, IRMAA, Social Security, Roth Conversions, Taxes, RMDs, and Trusts: Q&A #2401 appeared first on The Retirement and IRA Show.

Seniors and Insurance: EDU #2401 Jan 03, 2024

Jim and Chris sit down to discuss an article relating to three types of insurance seniors should know about.

The post Seniors and Insurance: EDU #2401 appeared first on The Retirement and IRA Show.

Social Security, IRMAA, Backdoor Roth Contributions, and Annuities: Q&A #2352 Dec 30, 2023

Jim and Chris sit down to discuss listener questions relating to Social Security, IRMAA, backdoor Roth contributions, and annuities.

(13:45) A local listener worries and asks about earning excess income in a certain year while already claiming her Social Security benefit.

(25:15) A Virginian listener looks for clarification on what qualifies as a “work reduction” for IRMAA purposes.

(39:30) George from Kansas City asks about backdoor Roth contributions and non-deductible IRA contributions.

(1:01:15) George in Kentucky wonders why someone would purchase an annuity and not annuitize it.

The post Social Security, IRMAA, Backdoor Roth Contributions, and Annuities: Q&A #2352 appeared first on The Retirement and IRA Show.

Quarterly Dialogue: Funding The Minimum Dignity Floor (MDF): EDU #2352 Dec 27, 2023

Jim and Chris continue their quarterly dialogue discussing listener emails relating to funding the MDF while considering SPIAs, interest rates, inflation, risk tolerance and planning.

The post Quarterly Dialogue: Funding The Minimum Dignity Floor (MDF): EDU #2352 appeared first on The Retirement and IRA Show.

Social Security, WEP, IRMAA, and Retirement Planning: Q&A #2351 Dec 23, 2023

Jim and Chris sit down to discuss listeners questions relating to Social Security, WEP, IRMAA, and retirement planning.

(6:45) A listener looks for clarification regarding his parents Social Security survivor benefits and the impact of WEP.

(22:00) A listener in New Mexico asks about the impacts of IRMAA in years with large gains resulting from the sale of a home.

(34:15) Georgette looks for help when determining her maximum Roth conversion amounts while considering the IRMAA ramifications.

(41:15) PSA from Jim and Chris.

(42:00) George from New Hampshire brings up a previous show about finding a financial advisor and his questions.

The post Social Security, WEP, IRMAA, and Retirement Planning: Q&A #2351 appeared first on The Retirement and IRA Show.

Quarterly Dialogue: Spending The Fun Number: EDU #2351 Dec 20, 2023

Jim and Chris continue their quarterly dialogue discussing a couple of listener emails relating to the safe withdrawal approach to retirement and spending the fun number.

The post Quarterly Dialogue: Spending The Fun Number: EDU #2351 appeared first on The Retirement and IRA Show.

Social Security, Medicare, IRMAA, Annuities, and MDF: Q&A #2350 Dec 16, 2023

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

(6:00) A listener wonders about his sister’s unique income situation and asks a handful of Social Security related questions.

(22:15) George from Pennsylvania looks for clarification on Medicare and IRMAA.

(38:45) A listener from Pennsylvania asks about taking some of the annuity payments within his TIAA account and the potential tax ramifications.

(1:00:45) A listener asks how he can calculate the actual lifetime value of this annuity once invoked for my minimum dignity floor.

The post Social Security, Medicare, IRMAA, Annuities, and MDF: Q&A #2350 appeared first on The Retirement and IRA Show.

Quarterly Dialogue: Inflation: EDU #2350 Dec 13, 2023

Jim and Chris continue their quarterly dialogue series discussing a couple listener questions on how they address inflation.

The post Quarterly Dialogue: Inflation: EDU #2350 appeared first on The Retirement and IRA Show.

IRMAA, Social Security, Mutual Funds and ETFs: Q&A #2349 Dec 09, 2023

Jim and Chris sit down to discuss listener questions relating to IRMAA, Social Security, mutual funds and ETFs.

(3:45) George from California asks for clarification on filing the form SSA-44 and the associated IRMAA costs.

(13:30) A listener wonders if she should claim her Social Security benefit earlier than expected to cover some long-term care costs.

(41:45) A listener from Kentucky asks about his wives Social Security survivor benefit should he pass away before her.

(49:30) Georgette from California questions if there is a way to convert mutual funds into exchange traded funds (ETFs) easily within an IRA.

The post IRMAA, Social Security, Mutual Funds and ETFs: Q&A #2349 appeared first on The Retirement and IRA Show.

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