The Retirement and IRA Show: Recent Episodes
Jim Saulnier, CFP® & Chris Stein, CFP®
What do you get when you combine two knowledgeable CFP® PROFESSIONALS (one also a well-informed COLLEGE FINANCE INSTRUCTOR)? If you mix in relevant financial information and a healthy dose of humor you get the Retirement and IRA Radio Show! JIM SAULNIER, a CERTIFIED FINANCIAL PLANNER™ Professional with Jim Saulnier and Associates who specializes in retirement planning for clients across the country, CHRIS STEIN, a Finance Instructor at Colorado State University who is also a CERTIFIED FINANCIAL PLANNER™ Professional, offer real-world knowledge on a diverse range of topics including Social Security planning, investing for your retirement, the fundamentals of 401(k) and IRA accounts. Jim and Chris make learning about your retirement both educational and entertaining!
Jim and Chris discuss listener emails on Social Security spousal benefits, a listener PSA on HSA tax strategies and treasuries, and inherited IRA RMD rules for minor beneficiaries.
(9:00) A listener asks about qualifying for spousal benefits after a lengthy separation, since both spouses are now retired but remain legally married.
(28:15) The guys share a listener PSA on tax strategies involving harvesting HSA-eligible expenses, including Medicare B and D premiums, as a tax-free funding source, and on laddering treasury bills through Fidelity or Schwab instead of TreasuryDirect.
(40:15) George follows up on inherited IRA rules for minor child beneficiaries, asking whether an eligible designated beneficiary can elect the 10-year rule instead of taking the stretch, which requires RMDs.
The post Spousal Benefits, HSA Tax Strategies PSA, Inherited IRAs: Q&A #2632 appeared first on The Retirement and IRA Show.
If you’d like to skip past Jim, Chris, and Jacob’s opening chat about Jacob relocating to Iowa, Jim’s hiking plans, weather, office dog Apollo, and generational pop culture gaps, skip ahead to (10:00).
Chris’s Summary
Jim and I continue our discussion on the Fun Number, joined this time by Jacob as we turn to investment positioning of those pieces. Jacob walks through tracking positions without professional software, using individual fund assignments, spreadsheets, and a two-credit-card approach, plus the liquidity account and fall tax planning. We then cover delay period and post-delay Minimum Dignity Floor investment options, moving from full principal protection in the near term to a lesser degree of it further out.
Jim’s “Pithy” Summary
Chris and I pick back up on the Fun Number series, this time bringing Jacob on to tackle investment positioning, the piece everybody asks about once they’ve done the math from the first two episodes. Jacob spent years helping me build this from scratch, back when we tracked everything by hand before we ever had access to professional-grade tracking software, and he shares some of the tools do-it-yourselfers can use to keep track of their own toy box of positions without that kind of software.
We also dig into the liquidity account, the piece that quietly connects your positions to your actual spending. Jacob’s two-credit-card idea for separating Minimum Dignity Floor from fun spending ties directly into it, and I explain why we do our tax planning once a year, in the fall, rather than guessing all year long. There’s a reason we’d rather convert to a Roth than take a straight withdrawal when refilling that account, and it comes down to what happens if your plans change.
Once Jacob turns to investment options for the delay period and post-delay portions of your essential spending needs, we get into how the degree of principal protection shifts depending on how far out that money is needed, from fully protected in the near term to something with a little more market exposure further down the road. This is the heart of what I call the See-Through Portfolio, the whole reason we break things out this way instead of running one big portfolio, and there’s a real difference in how we treat money a couple of years away versus a decade out.
The post Investment Positioning Explained: EDU #2631 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security survivor benefits after the GPO repeal, estate planning for minor children, and annuity safety.
(10:00) A listener asks whether the repeal of GPO permits the survivor in a mixed Social Security and non-covered pension couple to keep both Social Security benefits rather than only the higher benefit, and where this rule appears in the POMS.
(37:00) The guys review whether a revocable living trust should remain the contingent beneficiary of retirement accounts while the couple’s children are minors, despite the potential for higher taxes, and what alternatives or overlooked issues may apply.
(1:16:15) Jim and Chris address whether someone considering a $500,000 single premium immediate annuity (SPIA) should split the purchase between two insurers to reduce insolvency and state guaranty association risk.
The post Social Security, Estate Planning, Annuity Safety: Q&A #2631 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I continue our discussion on the Fun Number, this time tackling what comes out first and how we plan for covering retirement income gaps. We look at funding both the delay period and post-delay period, including how a SPIA quote helps determine how much to set aside today to close a future gap. We also address aging and long-term care, and the smaller, less common carve-out for a guaranteed inheritance tied to a special needs dependent.
Jim’s “Pithy” Summary
Chris and I pick up the Fun Number conversation right where we left off, and this time we’re finally cracking open the toy box to show you what has to come out before anything gets set aside for fun. I still say it best with the seesaw: younger you on one side, older you on the other, and every dollar you carve out first is a promise you’re making across that fulcrum.
We walk through the delay period, those years before your Social Security or pension is fully turned on, and why we don’t discount those dollars down the way you might expect. Then Chris shifts to the post-delay period, pulling a real annuity quote to price out a future income gap and translating that future need into a present-day number using our See Through Portfolio thinking, so you can actually see which assets are spoken for and which ones aren’t. We talk through how to close retirement income gaps step by step, and I even work in my usual gripe about the crystal ball nobody’s built yet.
From there we get into the harder, more emotional carve-outs, the ones tied to aging, long-term care, and in some cases a guaranteed inheritance, before circling back to what’s actually left over for you to enjoy. There’s a reason people tend to want to spend now rather than reserve for later, and we talk about why that instinct is so hard to fight. Next week Jacob joins us to talk through how we actually invest each of these positions, so consider this the setup for that conversation.
The post Covering Retirement Income Gaps: EDU #2630 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security survivor benefit strategies, a Roth 401(k) catch-up rule loophole, HSA reimbursement for Medicare premiums, pension options including a lump sum rollover, and trust titling versus individual beneficiaries.
(13:00) — George asks whether his brother can claim his own Social Security benefit at 62 and switch to the higher survivor benefit at full retirement age.
(22:45) — A listener asks whether starting a new job in 2026 could exempt him from the new mandatory Roth 401(k) catch-up rule.
(28:45) — The guys field a question about using HSA funds to reimburse Medicare Part A premiums paid for a spouse before age 65.
(40:00) — Jim and Chris review a listener’s decision to take a pension lump sum and roll it into an IRA over the annuity options.
(1:13:00) — Georgette asks which accounts should be retitled into her trust versus left as individual beneficiary designations.
The post Social Security, Roth 401k, HSA Reimbursement, Pension Options, Trust Planning: Q&A #2630 appeared first on The Retirement and IRA Show.
Chris’s Summary
“Jim and I begin a multi-part discussion on the Fun Number, a retirement budgeting concept for how much someone can spend on what they want rather than what they need once other obligations are covered. Jim traces how the idea originated from a client hesitant to follow through with his retirement dreams despite having more than enough saved to do so. In response, a single undifferentiated portfolio evolved over time into separately identified reserve positions.
Jim’s “Pithy” SummaryChris and I are kicking off a series on the Fun Number, the concept, along with the Minimum Dignity Floor, that I’ve built my whole approach to retirement budgeting on. This first episode lays the groundwork for a multi-part discussion, since arriving at that number means first identifying everything else that needs to be sorted out first.
To get into where the idea actually came from, I tell the story of a client who had more than enough saved but still couldn’t bring himself to buy the camper trailer he’d been dreaming about for years. Watching that play out taught me something I just couldn’t shake: money sitting inside one big portfolio, all lumped together, is money many don’t feel safe spending, no matter what the math says.
That realization led me to start pulling pieces out of a portfolio. It started with handwritten notes and a three-bucket approach that never quite solved the problem. I kept pulling pieces out, the way a kid digs through a toy box, separating out what’s needed for security and reserves so what’s left becomes visible and spendable, for whatever someone wants to do with it. That thinking eventually grew into what’s now called the See Through Portfolio.
The post Retirement Budgeting – The Fun Number: EDU #2629 appeared first on The Retirement and IRA Show.
Jim and Chris discuss the new PROMISE Act’s potential impact on Social Security before covering listener emails on pension RMD timing, interest taxation versus capital gains indexing, and portfolio strategy around Social Security survivor benefits and multi-account allocation.
(5:30) — Chris discusses the new PROMISE Act and how it may impact Social Security.
(17:15) — George asks how long he can delay pension distributions without violating RMD rules, given his 73rd birthday falls in February 2027.
(29:45) — A listener asks whether interest income should be inflation-indexed the same way some propose indexing capital gains for wealthier taxpayers.
(43:00) — The guys field a two-part question on how a surviving spouse’s Social Security loss factors into MDF portfolio and annuity design, and how to allocate a portfolio strategy across different account types.
The post Social Security, Pension RMDs, Interest Taxation, Portfolio Strategy: Q&A #2629 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I dig into two beneficiary disputes as part of what we’re calling a “potpourri” EDU show: the 1930s Goodman Triangle life insurance gift tax dispute and a recent Montana Supreme Court ruling on an uncashed cashier’s check. We also discuss a bipartisan proposal to raise the home sale capital gains exclusion and a separate proposal to index capital gains for inflation more broadly.
Jim’s “Pithy” Summary
Chris and I dig into a variety of topics, starting with a court fight that traces back nearly a hundred years, something folks in the industry call the Goodman Triangle. Picture three people tied to one policy: an owner, an insured, and a separate beneficiary. Mrs. Goodman took out five life insurance policies on her husband, moved them into a revocable trust, and thought she was fine, until he died and the IRS said she’d made a taxable gift. She fought it and the court’s decision on the case still gets cited whenever a policy or an annuity has three different people sitting in those three roles.
From there we get into a couple of proposals sitting in Congress right now. One would finally raise the exclusion on gains from selling your primary home, something that hasn’t budged since the late nineties even as home prices have doubled and tripled around the country. The House and Senate versions land in slightly different places, but both would roughly double the current numbers and index them for inflation going forward. The other proposal is a longer shot, backed by senators who don’t have much bipartisan goodwill behind them, and it would apply an inflation multiplier to stocks, real estate, and other capital assets so you’d only owe tax on the growth that’s actually real.
We close with one of our beneficiary disputes out of the Montana Supreme Court: a husband pulls eighty thousand dollars out as a cashier’s check made out to himself, hides it in the house, and dies without a will. His wife cashes it, his son sues, and the ruling comes down to whether a gift was ever actually completed.
The post A Potpourri of Beneficiary Disputes and Tax Laws: EDU #2628 appeared first on The Retirement and IRA Show.
Jim and Chris welcome back returning guest Dr. Phillip Snider for a Q&A episode that plays a little differently than usual. Listener emails open a broader discussion of healthspan and lifespan, (including how wealth, genetics, and lifestyle factors shape longevity), retirement planning for longevity, and Dr. Snider’s recommendation for additional tests to help assess your health risks.
(5:15) — George cautions that median longevity statistics are heavily influenced by wealth, genetics, and individual behavior, and shares CDC data showing life expectancy rises significantly once someone reaches age 65.
(29:45) — A listener asks Dr. Snider to discuss the value of the cardiac calcium score in assessing longevity. She also asks about the science behind statins, including their effect on plaque stability and a possible link to reduced dementia risk.
Show Notes:
Dr. Snider’s list of recommended tests:
- CAC test (coronary artery calcium,) or heart scan – a noninvasive, low-dose CT scan that measures calcified plaque in your arteries to predict future heart attack risk.
- hsCRP (high-sensitivity C-reactive protein) – measures inflammation in the body related to cardiovascular disease risk.
- IL-6 (Interleukin-6) – elevated levels are associated with multiple conditions including cardiovascular disease, diabetes (insulin resistance), cancer, and autoimmune disorders. The sample has to be frozen before sending to the lab for processing, so it may need to be collected at a hospital lab or free-standing lab facility rather than at a doctor’s office.
- MPO (Myeloperoxidase) – measures an enzyme found in white blood cells (neutrophils and macrophages). It is a key biomarker of inflammation and oxidative stress. In the bloodstream, high MPO levels indicate that immune cells are actively attacking vessel walls, making it a powerful predictor of cardiovascular disease and plaque instability.
- Lp-PLA2 (lipoprotein-associated phospholipase A2) – measures a specialized inflammatory enzyme highly concentrated in unstable, rupture-prone fatty plaques within your arteries. Unlike general inflammatory markers (like hs-CRP), Lp-PLA2 is specifically localized to inflammation of blood vessels.
The post Healthspan and Retirement Planning for Longevity with Dr. Snider: Q&A #2628 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I review a reader-submitted article on funding essential expenses in retirement, examining how one engineer split his portfolio into what we would call the Minimum Dignity Floor and Fun Number, using Social Security and a TIPS ladder. We compare that approach to our own income-based framework, discuss mortality credits from income annuities, and address reader emails about how long an essentials-only spending floor should realistically last.
Jim’s “Pithy” Summary
Chris and I get into a short piece a listener sent us, written by an engineer who approached retirement spending in a very engineer style way: building a model, gathering the data, and running the numbers. But he initially still came up short on peace of mind and ended up splitting his retirement into two portfolios, leaning on Social Security and a TIPS ladder for funding essential expenses, and landing on a lot of ground Chris and I have been covering for twenty-five years, even though he’s never heard of the show.
I’ve got some thoughts on that TIPS ladder approach, particularly around mortality credits and what happens when you’re the one holding all the longevity risk yourself instead of pooling it. It ties into what I call the See Through Portfolio, our approach to positioning assets so you can actually see what each dollar is doing for you rather than treating everything as one big undifferentiated pile. I also bring back my seesaw, the younger you on one side, the older you on the other, to work through what happens with whatever’s left once the essentials are covered.
We close out on a couple of relevant reader emails, including one from someone who put together twenty-five years of essential spending coverage on his own. Chris and I do some math on what that actually means for him, and I end up talking about fish schooling and birds flocking, because nature figured some of this out a long time before we did.
Show Notes: Humble Dollar Article
The post Funding Essential Expenses in Retirement: EDU #2627 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security spousal benefit calculations, variable annuities in a 403(b), converting Inherited IRAs, and the Social Security child-in-care provision’s effect on spousal benefits.
(10:00) — A listener asks Chris to explain why his additional high-earning years increased his own benefit so little, due to Social Security’s bend point formula, and how that translated into only a small spousal benefit adjustment for his wife. He also asks whether Social Security stops recalculating a worker’s PIA once they reach age 70.
(28:00) — Georgette asks why her 403(b) funds are classified as variable annuities rather than mutual funds, and whether they function like other variable annuities sold on the open market.
(54:30) — The guys field a question about a non-spouse inherited IRA, where the account holder wants to know whether the required RMD must be taken before completing a separate Roth conversion.
(1:05:15) — Jim and Chris address whether the child-in-care provision removes the early-claiming reduction to a wife’s spousal benefit, in a case where she claims at 62 and her husband, the higher earner, waits until 65.
The post Social Security, 403b Variable Annuities, Converting Inherited IRAs: Q&A #2627 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I continue our discussion on annuity insurer failures and state guarantee fund protections before turning to jointly owned annuities, examining how they differ from other jointly titled assets. We cover credited versus uncredited interest, mortality table calculations for annuitized contracts, and how a jointly owned annuity’s death benefit passes to named beneficiaries rather than the surviving owner. Contract language varies by insurer on how the surviving joint owner is treated relative to named beneficiaries.
Jim’s “Pithy” Summary
Chris and I pick up where we left off last week and close out our take on that NBC article about a woman whose annuity insurer ran into serious financial trouble. I get into the timing behind a related lawsuit, why I think the agent involved should have caught the warning signs, and why the insurance company itself deserves plenty of blame too. We also break down how state guarantee funds actually work once an insurer goes under, the difference between credited and uncredited interest, and what changes once you’ve annuitized and the fund has to figure out your payments using its own mortality tables.
Then we shift into jointly owned annuities, and this is the part worth paying close attention to. Most people assume a joint annuity behaves like any other jointly titled asset, where the survivor automatically ends up owning the whole thing. However, that is not always how it works. I walk through language from two different insurance contracts we have dealt with over the years, and the two companies handle a joint owner’s death in completely different ways. If you have an older jointly owned annuity with someone other than your spouse listed as primary beneficiary, this is worth looking into now, because what actually happens at the first owner’s death might not be what you expect.
The post What to Know About Jointly Owned Annuities: EDU #2626 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security benefits for a disabled adult child, SPIA timing and funding, longevity assumptions, and QLAC planning.
(15:15) A listener asks why Social Security appears to be paying a disabled adult child benefit and child-in-care spousal benefit as a combined 50% of the worker’s PIA rather than 50% each, and how they might address the issue.
(32:45) The guys discuss whether to buy a SPIA now or wait until age 70, along with the pros and cons of purchasing one with pre-tax, Roth, or brokerage assets. They also address where a DIY investor may be able to purchase a SPIA.
(1:11:00) Jim and Chris respond to a listener considering whether expected AI-driven longevity advances should factor into the timing of a future SPIA purchase.
(1:19:15) A listener asks about using a QLAC to help accelerate Roth conversions and whether a special needs trust for a disabled adult child could avoid a large lump-sum tax hit if both parents pass early.
The post Social Security, SPIA, SPIA Timing, QLAC: Q&A #2626 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I examine an Annuity Collapse involving PHL Variable Insurance Company, a $99,000 annuity, private equity ownership, state guarantee funds, and the limits of what the article explains. We separate fixed annuities, variable annuities, general accounts, separate accounts, insurer insolvency risk, market risk, and rating history, while noting why the missing annuity details matter.
Jim’s “Pithy” Summary
Chris and I dig into Annuity Collapse coverage that had a lot of listeners understandably worked up, but also left out some details that matter. The headline says a woman paid $99,000 to generate retirement income for life and then the insurance company collapsed. That gets attention. It should. But before everyone runs around saying annuities are terrible and insurance companies should all be burned at the stake, we have to slow down and ask what she actually owned, because the article never clearly says whether this was fixed, variable, in payout, deferred, in the general account, or in a separate account.
That distinction matters. If this was a variable annuity held in separate accounts, those assets may not be part of the insurance company’s bankruptcy estate, though market losses and access problems may still be real issues while the company is in rehabilitation or liquidation. If it was a fixed annuity or money sitting in the general account, state guarantee funds can matter, but they are not FDIC insurance, and they do not move in a few days. They can take a really long time, and the limits vary by state and product type.
The larger issue is not that this woman did something wrong. I do not fault her. I fault the agent, the regulators, and the private equity games that Tom Gober has been warning about for years. PHL had weak ratings for a long time, and if it begins with a B, I think it is bad. We also talk about using AI to research insurer ratings, downgrades, ownership history, and state guarantee protections, especially before using an annuity for a lifetime income stream connected to a Minimum Dignity Floor.
Link to the article: https://www.nbcnews.com/news/us-news/paid-insurance-company-99000-generate-retirement-income-life-collapsed-rcna331934
The post Annuity Collapse: EDU #2625 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on delayed Social Security credits, annuity provider ratings, DIA versus QLAC income planning, and fixed indexed annuity (FIA) recommendations.
(10:30) A listener shares a long delay in receiving additional Delayed Retirement Credits on their Social Security benefit and asks whether there are any further steps to take or whether patience is the best option.
(26:00) Another listener passes along Kiplinger reader survey results on annuity providers and asks whether the information may be useful in a broader discussion about choosing an insurance company.
(45:00) The guys are asked when a deferred income annuity (DIA) might be better than a qualified longevity annuity contract (QLAC) inside an IRA, especially given the potential RMD and tax advantages of a QLAC.
(1:15:45) Jim and Chris respond to a listener nearing retirement who was advised to move TSP G Fund money into a fixed indexed annuity (FIA) and wants to understand whether that is better than keeping the funds in the TSP and using a withdrawal strategy.
The post Social Security, Annuities, Income, Annuities: Q&A #2625 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I continue our discussion on Forced Annuitization in a highly appreciated non-qualified variable annuity owned by a 90-year-old listener’s mother. We examine LIFO taxation, IRD, IRMAA, period certain annuitization, beneficiary options, IOVAs, and the difference between a codified annuitization approach and the less certain non-qualified stretch. The distinction between a noun annuity and a verb annuity does a lot of work here.
Jim’s “Pithy” Summary
Chris and I pick back up with a listener’s situation involving Forced Annuitization, a 90-year-old mother, and a non-qualified variable annuity with a tremendous amount of gain. This is not the insurance company being nefarious. These contracts have annuitization dates, and in an older contract, age 95 may once have seemed far away. Now it is an iceberg. The first question is still simple: what does mom want to do? From there, the insurance company’s actual annuitization options matter, preferably in writing, because every policy is unique.
We get into the black-and-white choices and the gray area. A life with period certain option may spread payments beyond the forced annuitization point if the insurer allows it. If death occurs before annuitization, a non-spouse beneficiary generally faces two cleaner choices: annuitize within one year based on actuarially sound life expectancy, or use the five-year rule. Then we look at investment-only variable annuities, where the insurance company may provide the annuity wrapper, the assets remain in separate accounts, and one company Jim contacted allows new contracts up to age 95 with forced annuitization pushed out to age 121.
The gray area is the non-qualified stretch. Jim explains why he has softened, but not flipped, on it. The SECURE Act changed Section 401, not Section 72(s), and that matters. Still, the comfort level depends on PLRs, insurance company practice, and how much uncertainty someone is willing to tolerate. One path is the verb annuity: give up access and control in exchange for a lifetime stream of income. The other keeps the noun annuity alive, with more flexibility, but less certainty. Same problem, very different wrappers.
The post Forced Annuitization: EDU #2624 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security earnings limits, and two emails relating to using annuities for LTC planning.
(13:00) — A listener asks whether income from selling NSO stock counts as earned income for Social Security, potentially triggering the earnings limit before full retirement age.
(21:00) — George asks about using a 1035 exchange to move variable annuities with guaranteed living benefits into a product offering long-term care benefits, and wants help weighing the tradeoffs of this approach.
(49:45) — The guys help a listener think through annuity planning to fund future long-term care costs for in-laws, including whether to use one joint annuity or two individual annuities and where to find SPIA quotes.
The post Social Security, Annuities for LTC Planning: Q&A #2624 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I continue our discussion on annuity basics before turning to a listener’s email centered on forced annuitization, a maturity date built into every annuity contract requiring annuitization or full distribution by a set age. A listener’s mother faces this deadline at 95 with a variable annuity that grew over 10x, creating a substantial IRD (Income in Respect of a Decedent) tax burden. We consider options including period-certain annuitization, adding a younger co-annuitant, a 1035 exchange, and charitable strategies.
Jim’s “Pithy” Summary:
Chris and I are picking back up where we left off last week on the basics of annuities, and we take a hard look at the licensing mess on both sides of the industry: insurance agents selling products tied to indexes they’re not licensed to discuss, and investment advisors selling annuities through wholesalers without ever getting an insurance license. We also get into why AI is becoming the great equalizer for consumers, and how a 2005 class action lawsuit built on a complete misunderstanding of annuity maturity dates sets up the real conversation.
That real conversation is a listener’s email about forced annuitization. His mother bought a variable annuity in 2002 with money she didn’t need to cover her Minimum Dignity Floor and invested it aggressively. Set it and forget it. Now, decades later, a deadline is closing in, and what looked like a smart, tax-deferred decision has turned into a significant IRD problem with no clean exit. The listener has been chipping away at it, but the math isn’t cooperating.
There are options, some involving the existing contract, some involving moving it entirely, and at least one that surprised even me when I dug back through my notes. None of them are perfect, but the worst move may be the one he’s already making. We’ll get into all of it.
The post Understanding Forced Annuitization: EDU #2623 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on whether Social Security should be compared to an annuity, Rule of 55 distribution rules, using period-certain annuities during the delay period, QLAC timing and taxes, and using a SPIA for Minimum Dignity Floor coverage.
(5:20) The guys address a listener’s objection to describing Social Security as an annuity and whether that comparison is accurate.
(32:00) A listener seeks clarification on Rule of 55 distributions after receiving conflicting information about whether plan-specific rules matter.
(38:45) Georgette asks whether a 10-year period before her mortgage is paid off can be treated like a delay period and covered with a period-certain annuity.
(51:30) Jim and Chris answer a question about whether QLACs can be purchased for a spouse from an IRA, how QLAC timing can be structured, and how payments are taxed.
(1:13:45) George wonders whether relying on excess RMDs or purchasing a qualified second-and-survivor SPIA from IRA funds is a better way to support long-term MDF coverage.
The post Social Security, Rule of 55, QLAC Timing, SPIAs: Q&A #2623 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I tackle annuity basics to start off another National Annuity Awareness Month. We cover what annuities are as insurance contracts, the four parties to a contract, the accumulation and distribution phases, and the key differences among the major annuity types. We also touch on tax deferral rules, LIFO treatment, and the historical and industry context behind why annuities remain so widely misunderstood.
Jim’s “Pithy” Summary
Chris and I use National Annuity Awareness Month to get back to annuity basics. I have a book in my office, Lee Welling Squier’s Old Age Dependency in the United States, written in 1912, before Social Security existed, that begins by asking why people don’t use annuities to help provide against want in old age. That question stuck with me because I was taught early in this industry that annuities were horrible, while pensions were wonderful. But, if a pension was one leg of the old three-legged stool, and the 401(k) helped pull that leg out, then maybe we ought to at least understand the product that can mimic some of that pension-like income for retirees who need it. Not love it. Not hate it. Just understand it.
So, we start with the basics: what you are buying, who is making the promise, who controls the contract, whose life the payment is based on, how the accumulation phase works, and when/if the thing you own turns into a stream of income all matter. The word “annuity” covers a lot of very different vehicles. Some are plain and straightforward. Some are complex, with riders, caps, participation rates, and spreads. Some may be useful in the right circumstances. Others may be costly, confusing, or misapplied. And if you do not understand which type of annuity you are looking at, it is easy to use the wrong one in the wrong place.
The post Annuity Basics: EDU #2622 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security survivor and ex-spouse benefits, using annuity income to satisfy RMDs, and annuity laddering strategies for both SPIAs and DIAs and MYGAs.
(6:30) George writes in about a cousin who turns 62 in November 2026 and whose ex-spouse recently passed away — he wants to know what survivor and ex-spouse Social Security claiming options may be available.
(19:45) A listener asks whether annuity income payments from a qualified annuity can be used to satisfy the RMD requirement on a separate IRA, potentially eliminating the need to take distributions from the IRA altogether.
43:15) The guys hear from a long-term buy-and-hold investor at the start of his transition from accumulation to decumulation who is drawn to the idea of purchasing SPIAs or DIAs in multiple chunks rather than a single lump sum and is curious about tradeoffs as well as how to apply a dollar-cost averaging mindset to annuity income.
(1:01:00) Jim and Chris take a question from a listener about 2.5 years from retirement who is considering laddering MYGAs through his 401(k) and wants to know whether the yield advantage of A-rated carriers is worth the added risk compared to sticking with A+ or higher, and whether CD laddering might be a simpler alternative.
The post Social Security, Annuity RMDs, Annuity Laddering: Q&A #2622 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I discuss income annuities in retirement as a lead-in to National Annuity Awareness Month, using a Fidelity Viewpoints article to frame the discussion. We walk through the article’s points on essential expenses, paycheck-like income, and management simplicity later in retirement. We also distinguish traditional income annuities from more complex annuity products and address liquidity, inflation protection, insurance company risk, and death-benefit trade-offs.
Jim’s “Pithy” Summary
Chris and I use a Fidelity Viewpoints article on income annuities in retirement to get an early start on National Annuity Awareness Month. The article points out that an income annuity may help when Social Security and pensions do not fully cover essential expenses, may provide some peace of mind around income that lasts for life, and may make retirement easier to manage later on. Those are not new ideas around here!
Those essential expenses the article discusses is what we refer to as the Minimum Dignity Floor: food, utilities, transportation, housing, and healthcare. If Social Security and pensions do not fully cover those expenses, a simple income annuity may be worth understanding because if the basics are projected to outlast the income already in place, the question deserves more than a knee-jerk yes or no.
We also spend time on what happens when the paycheck stops. People can have plenty of money and still miss the safety of income showing up on schedule. That is where the bottomless cup of coffee idea comes back in, and why spending during the Go-Go years can feel different when the basics are covered. Chris also gets into the simplicity point: aging, confidence, fraud risk, and why the older you, or a surviving spouse, may not want every decision tied to a portfolio. We also get into the article’s trade-offs, including loss of liquidity, lack of inflation protection, insurance company credit risk, and what happens if someone dies earlier than expected.
Show Notes: Fidelity Article – “How to feel financially secure in retirement”
The post Income Annuities in Retirement: EDU #2621 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security spousal benefits, portfolio withdrawal strategy for early retirement, HSA and Medicare premiums, the 4% rule, Roth self-employed 401(k)s, Roth conversions, and retirement trusts.
(10:45) A listener asks whether her husband claiming Social Security on his own record before she files at 70, including as early as 62, would reduce his eventual spousal benefit, and in what circumstances an earlier filing might make sense for them. (20:45) She also asks how to structure her portfolio to cover a seven-year income gap before Social Security begins and fund a potential home purchase at retirement.
(46:15) George and Georgette want to know which Medicare-related costs – IRMAA surcharges, Part D, and supplemental insurance – qualify for HSA reimbursement, and whether they can apply HSA funds retroactively to prior-year premiums.
(54:30) The guys address the idea that money reimbursed from an HSA isn’t restricted to medical use, so saving receipts over the years can turn an HSA into a source of tax-free cash for virtually any expense.
(1:01:15) A listener compares the 4% rule to Newton’s laws of motion – foundational but not the final word – and describing how he’s combining that framework with their retirement income approach for his own long-range planning.
(1:08:30) Jim and Chris share a listener’s PSA that Fidelity began offering a Roth self-employed 401(k) in 2025, in response to a question from a recent episode.
(1:11:30) One listener pushes back on the idea that Roth conversions only make sense at a lower tax bracket, walking through a math example to show that tax-free compounding can make converting at the same — or even a higher — bracket financially worthwhile.
(1:17:45) George has structured his IRA with a testamentary trust for a financially irresponsible adult child and asks whether a “retirement trust”, could allow the trust to receive IRA assets without the compressed tax rates that typically apply to trusts.
The post Social Security, Withdrawal Strategy, HSAs, 4% Rule, Roths, Retirement Trust: Q&A #2621 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I discuss a listener’s strategy for funding the delay period in this dialog show. A 59-year-old chemical engineer shares his plan to transition from 100% equities by purchasing TIPS only when his portfolio reaches new market highs. We cover his Social Security claiming strategy, concerns about CPI-based inflation adjustments relative to Minimum Dignity Floor expenses, and the potential role of a QLAC for late-in-life secure income.
Jim’s “Pithy” Summary:
Chris and I dig into a listener’s email in this dialog show, examining the retirement strategy of a self-described Vanguardian and chemical engineer who is three years out from retirement. His approach is built around what he calls “pedal to the metal” accumulation – 100% equities for his working years – and now he is figuring out how to transition his assets to a decumulation model. The centerpiece of his plan is a TIPS ladder covering his eight-year delay period, funded by selling from his all-stock portfolio only when it reaches a new market high. Most of his rungs are already purchased, and the approach has worked – the market has been kind. But Chris and I both flag the same concern: it works until it doesn’t. If markets go sideways or drop and stay there, he could find himself heading straight into sequence of returns risk without the rungs he needs, still waiting on new highs that may not come.
Beyond those mechanics, we get into some of the things he may be underweighting. The five expense categories that anchor his retirement spending — food, utilities, transportation, housing, and health care — tend to rise faster than headline CPI, which is what TIPS are tied to. His year-over-year projections are clean and consistent, but real-world spending in those categories is variable, not a steady march. We also touch on his Social Security claiming plan and his note that he still needs to fine-tune his Fun Number once that funding is complete.
The episode wraps with his mention of QLACs for late-in-life secure income – something Chris and I agree can make sense, and buying sooner rather than later may give more income dollar for dollar given how deferral and mortality credits compound inside these contracts.
The post Delay Period Funding Strategy: EDU #2620 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on the SSA-44 and IRMAA process for a couple approaching Medicare, Social Security survivor benefit strategy, tax diversification for young investors, HSA vs. IRA prioritization and spending strategy during the delay period, and inherited IRA RMD rules for non-eligible beneficiaries.
(15:30) A listener approaching Medicare asks how the SSA-44 process applies when one spouse is retiring while the other continues to work, and whether their planned Roth conversions could complicate the IRMAA appeal filing.
(33:15) Georgette wonders whether she can start her own Social Security at 67, switch to a lower survivor benefit if her husband passes, and then return to her own larger benefit at 70.
(41:00) The guys hear from a parent helping his adult children decide whether to convert their traditional IRAs to Roth IRAs or preserve a mix of account types for tax diversification in retirement.
(57:45) Jim and Chris address two questions: (1) whether HSA contributions should be prioritized over IRA contributions for retirement savings, and (2) how to bridge a cash flow gap when brokerage funds run out during the delay period without undermining ongoing Roth conversions.
(1:26:15) A listener asks whether a non-eligible beneficiary who inherits a traditional IRA before the decedent’s required beginning date must still take RMDs, given that the decedent had already taken one RMD in the year they turned 73.
The post IRMAA, Social Security, Tax Diversification, Delay Period, Inherited IRA: Q&A #2620 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I are joined by Dr. Phillip Snider, in what we hope is his first appearance of many, as we discuss what a healthy retirement requires. In this episode we discuss health span versus life span, or how long a person stays vibrant and independent versus how long they simply live. Grounded in the idea that a retirement plan is not only about how long money lasts but how long someone is healthy enough to enjoy it.
Jim’s “Pithy” Summary
Chris and I are joined by Dr. Phillip Snider as we dig into what a healthy retirement actually means. We say it all the time on this show – we’re not getting younger, stronger, or healthier – but most retirement plans are built around all your retirement years being the same. Maybe only five, eight, or ten of them will be your go-go year where you can truly enjoy spending. That is exactly why we wanted a physician in this conversation who, for the record, genuinely geeks out on retirement.
Dr. Snyder puts some real numbers around how long the average person stays vibrant and independent and how those numbers compare to average lifespan. That gap has direct implications for how you think about your Fun Number and when to spend it. He also gets into specific, measurable indicators that can give you a clearer picture of where you personally stand.
Right now, no tool exists that can do for the go-go window what long-term care software already does for future care costs. That question comes up directly in this conversation and Dr. Snyder has a view on what variables such a tool would actually need, and what could be coming on that front.
Show Notes:CalcVita Biological Age CalculatorThe post Enjoying a Healthy Retirement: EDU #2619 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on IRMAA appeals, Social Security survivor benefits, a Venn Diagram PSA, Roth IRA spousal rollover and the five-year rule, and Rollover IRA protections.
(8:15) A listener asks whether their parents should appeal an IRMAA surcharge—triggered by a one-time annuity payout—on the basis of loss of pension income.
(17:15) George asks how a serious health diagnosis may affect his Social Security strategy, including whether his wife should claim on her own record now and delay survivor benefits until he would have reached age 70.
(35:30) A listener shares a Venn Diagram PSA
38:15) The guys hear from someone who used spousal rights to roll his late wife’s Roth 401k into his own Roth IRA, and wants to know whether doing so reset the five-year clock on her previously qualified funds.
(54:00) Jim and Chris address whether the ERISA protections of 401k and 403b plans are reason enough to avoid rolling them into IRAs, and whether an umbrella insurance could offer additional Rollover IRA protections.
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Chris’s Summary
Jim and I discuss the Safe Withdrawal Rate as a projection tool before retirement, but not as the distribution tool we would use for many retirees. We address Bill Bengen’s research, the 1968 retiree scenario, Monte Carlo planning, and why a worst-case floor can limit early retirement spending on fun. We also contrast accumulation planning with distribution planning and explain how the See Through Portfolio helps separate different retirement spending needs.
Jim’s “Pithy” Summary
Chris and I discuss why we think Bill Bengen’s research has real value, while still believing the Safe Withdrawal Rate is the wrong tool once the rubber meets the road in retirement. His work helped advisors move away from unrealistic withdrawal rates, and it can be useful for people still in the accumulation phase who are trying to see if they are on track. But once someone reaches retirement, especially with only so many Go-Go years ahead, I think the tool has to change.
The part I don’t like is when the industry takes a worst-case historical number and turns it into the anchor for everyone. Chris and I talk about Bengen’s own comments, Monte Carlo probability statistics, and why software can make this kind of planning look cleaner than it really is. That may work for some people, especially if the goal is to leave the biggest portfolio possible, but that is not the same as helping someone spend with more clarity while they still have the health, desire, and ability to do so.
That is where our process separates the money allocated for needs, reserves, and later-life planning from the money available for fun. Minimum Dignity Floor, SEAL Reserve, and the Fun Number help frame those dollars differently instead of treating retirement as one big portfolio with one smooth withdrawal path. You are not getting younger, stronger, or healthier, and most people’s retirement goals don’t include being the wealthiest person in the graveyard.
The post Is The Safe Withdrawal Rate Useful? EDU #2618 appeared first on The Retirement and IRA Show.
Jim and Chris discuss emails on Social Security survivor benefit strategies, IRMAA exceptions, Roth conversion timing during market downturns, and the implications of naming IRA beneficiaries directly versus routing assets through a trust.
(8:15) A listener whose husband plans to delay Social Security to 70 while she claims early at 62 asks whether she can still receive the maximum survivor benefit if he passes away before reaching 70.
(19:30) The guys field a question about whether the SSA-44 reduced work exception to IRMAA applies when the reduction in earned income is far too small to bring MAGI below the applicable tier.
(31:00) Jim and Chris address whether it makes sense to front-load Roth conversions during a market downturn so that subsequent recovery gains are captured tax-free.
(1:06:00) George wants to better understand the mechanics a trustee must navigate when distributing IRA assets to trust beneficiaries, compared to simply naming beneficiaries directly on the account.
The post Social Security, IRMAA, Roth Conversions, IRA Beneficiaries: Q&A #2618 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I continue our discussion of the New York Times article titled “You Saved and Saved for Retirement. Now You Need a Plan to Cash Out,” focusing on Retirement Spending Phases as the article moves into go-go, slow-go, and no-go years. We walk through how the article is using that framework and how it compares with how we approach retirement planning, particularly in how different types of spending behave and how that ties to Social Security, pensions, and simple annuities.
Jim’s “Pithy” Summary
Chris and I pick back up with the New York Times article from last week and this time we focus on Retirement Spending Phases and how that go-go, slow-go, no-go framework is being used.
I’m not saying the concept is wrong. I’m saying if you apply it across everything, you’re going to miss the point. Because not all expenses behave the same way. Your Minimum Dignity Floor is there no matter what. Your Fun Number is what actually changes depending on how you’re living your life. If you don’t separate those, you can end up making decisions that don’t reflect reality. That’s really the issue we keep coming back to as we walk through this and react to how the article is presenting it.
And that’s where this starts to matter. Because once you’re thinking about what has to be covered versus what can change, you’re dealing with different kinds of decisions. That’s where Social Security, pensions, and annuities come into the conversation. Not as a blanket solution, but as part of figuring out how different pieces of a plan are supposed to work depending on the job they’re trying to do. And it’s why you can’t just treat everything the same and expect the outcome to make sense over time, especially as those phases play out differently across different types of spending.
The post Retirement Spending Phases: EDU #2617 appeared first on The Retirement and IRA Show.
Chris is joined by Jake Turner, while Jim is traveling, to discuss listener emails on Social Security spousal benefits, wash sales across brokerage and IRA accounts, estimated tax payments for Roth conversions, and tax withholding strategies in retirement.
(6:45) A listener asks when an ex-spouse can claim a spousal Social Security benefit and if retroactive benefits are available.
(19:20) The guys address if a surviving spouse automatically receives the higher benefit upon their spouse’s death, and why the family maximum benefit is affecting a couple who are each collecting their own individual benefit.
(30:00) A listener wonders how wash sales are tracked across different account types, and if buying back only half the funds results in only half of the sold funds qualifying as a wash sale.
(42:31) Chris and Jake help determine if a Roth conversion requires quarterly estimated tax payments throughout the year or just a single year-end payment.
(55:00) George wants to know if skipping tax withholdings on a pension and part-time job is acceptable when prior over-withholding is expected to cover the year’s tax bill.
The post Social Security, Wash Sales, Taxes: Q&A #2617 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I discuss retirement spending plans through the lens of a New York Times article titled “You Saved and Saved for Retirement. Now You Need a Plan to Cash Out,” reviewing its key arguments about decumulation and where we agree, question, or hold no opinion. We cover why the Minimum Dignity Floor rarely fails in projections, why the 4% rule may be an outdated framework for structuring retirement withdrawals, how individual inflation rates for specific expense categories can produce more accurate projections than a single blended rate, and why underspending on fun during the go-go years may pose a greater risk than outliving assets for many listeners.
Jim’s “Pithy” Summary
Chris and I dig into a New York Times article — “You Saved and Saved for Retirement. Now You Need a Plan to Cash Out” — and use it as a jumping-off point to talk about what spending in retirement actually looks like in practice versus what the industry has been selling people for decades.
Here’s what struck me most: the 4% rule was created in 1994 with rudimentary spreadsheets, and the recommended safe withdrawal rate swings from 2.8 to 4.7 depending on who you ask and what year it is. That’s supposed to be your anchor? Are you watching TVs that look like the ones from 30 years ago? Talking on the same phones? My beeper evolved into a smartphone with more computing power than the Apollo mission, and yet most of the industry is still essentially creating retirement spending plans with a beeper. What the Fun Number framework helps clarify is that you don’t need a universal withdrawal percentage. You need to isolate your actual expenses, inflate each one at the rate that reflects how that spending actually grows — not some blended average — and then see clearly what’s left for fun.
The article also makes the point that fearful retirees may scrimp during their go-go years when they could afford to spend — and that’s something my dad reinforced in his own way. He’d watch people in his retirement community who had money but couldn’t bring themselves to spend it on fun, and he called them Debbie Downers. For many people listening to this podcast, that’s the real risk — not outliving your assets but failing to spend on fun while you still can.
The post Retirement Spending Plans: EDU #2616 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security benefits for a family with a disabled adult child, survivor benefits, ERISA vs. non-ERISA 403(b) protections, a listener PSA on Monte Carlo simulations, special needs trusts, and how a revocable living trust handles a primary home transfer.
(5:00) A listener asks whether her husband’s early Social Security filing while still working would suspend her child-in-care benefits, and whether his benefit would be recalculated to his Full Retirement Age amount once the earnings limit no longer applies.
(20:20) George wonders whether survivor benefits for his wife would be based on his age-70 amount or her Full Retirement Age amount.
(25:15) Jim and Chris take a question about the differences between ERISA and non-ERISA 403(b) protections, and whether state IRA protections offer comparable coverage.
(39:45) The guys share a listener PSA pointing them to a recent Retirement Answer Man episode on Monte Carlo simulations.
(44:00) Georgette enquires which assets belong in a special needs trust and how to structure it tax-efficiently.
(54:45) A listener asks how a primary home transfers to children through a revocable living trust and what the selling process looks like.
The post Social Security, ERISA, Trusts: Q&A #2616 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I are joined by Jake as we discuss tax rules and mistakes through two tax-focused PSAs before moving into listener emails. Jake covers a denied non-cash charitable deduction due to an incomplete Form 8283 and missing contemporaneous documentation, then walks through how estimated tax payments and safe harbor rules are calculated from prior-year tax liability. We then address listener emails on establishing home basis after a spouse’s death, how the senior deduction is reduced for married couples, and comparing IRA versus Roth withdrawal strategies.
Jim’s “Pithy” Summary
Chris and I are joined by Jake as we spend some time on two tax-focused PSAs from Jake before getting into listener emails. Jake walks through a tax court case where a non-cash charitable donation was denied because Form 8283 wasn’t completed correctly and the required documentation wasn’t done at the time—even though the donation itself was valid. This highlights how strict tax rules and mistakes around them can cost you. He also breaks down estimated tax payments—those quarterly amounts that show up on your return after you’ve already paid what you owed—and how they’re calculated off the prior year to get you into the safe harbor.
We then get into a situation involving a home purchased in the early 1970s, no improvements over the years, a spouse passing in a community property state, and now the question of what the basis actually is and how to determine it years later without anything documented at the time, which is more common than you’d think. There’s also a question on the senior deduction where the reduction ends up applying to each spouse, which changes the expected result. Finally, we look at two different withdrawal approaches using traditional IRA and Roth accounts over the next few years, and how those choices shift balances and taxes depending on how the income is sourced and what you’re actually trying to accomplish with it.
The post Tax Rules and Mistakes: EDU #2615 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security claiming strategies, financial education electives for a college student, a listener PSA on podcast word counts, inheritance planning, and SEP IRA conversions.
(11:15) A listener planning to delay Social Security to 70 asks whether proposed benefit caps should change that strategy. He also asks Chris for financial education course recommendations for his son at CSU.
(35:45) The guys address a question from someone who discovered SSA shows zero earnings on their work record for a year they actually worked, following an overpayment dispute, and whether submitting a W-2 can correct the record and trigger retroactive back pay.
(43:45) Jim and Chris share a PSA on podcast word counts, with a speaker-by-speaker breakdown to crown the King and Prince of Word Count.
(49:30) A listener wants to create four separate Roth IRA accounts, each with one of their four adult children named as beneficiary, with the idea that any lifetime gifts to that child come out of their future inherited share. They ask whether this approach is more complicated than it needs to be.
(1:09:30) George asks whether the money his son placed in a traditional SEP IRA can be converted to Roth, and how the IRS would treat it.
The post Social Security, Inheritance Strategy, SEP IRA Conversions: Q&A#2615 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I share retirement lessons learned from a listener’s account of his mother. Her husband’s survivor pension elections, combined with Social Security, left her a unicorn — secure income covering all expenses — yet she died regretting trips never taken despite a $9 million portfolio. The episode also covers why joint account ownership with adult children can create legal exposure, and the importance of funding a living trust while you are still healthy.
Jim’s “Pithy” Summary
Chris and I walk through three retirement lessons learned from a listener whose mother passed at nearly 100 years old — what she did right, what she regretted, and what almost worked but she ran out of time.
Lesson 1: Her husband elected survivor options on his pensions, and combined with Social Security, she had a steady stream of lifetime income long after he was gone. He thought ahead and protected her.
Lesson 2: That income, combined with a modest lifestyle, allowed her to amass millions and become what we call a unicorn — guaranteed income that covered every expense, discretionary and otherwise. But she died with regrets, not because she ran out of money but because she could never bring herself to spend it. Her son urged her repeatedly to spend more on fun, but she was a child of the Depression, and that created a mindset that no amount of counseling could change until it was too late. Her husband, who died at 66 was “the other guy” — he probably expected to live at least into his 80s — so did not get to enjoy the money either. These are exactly the kinds of situations the Fun Number was built for.
Lesson 3: She did do a great deal right with her estate — POA designations in place and proper beneficiary designations so no assets were subject to probate. She even had a living trust in the works – but she ran out of time to fund it, and that distinction — between having a living trust and actually funding it — is a surprisingly common mistake people make when they set one up.
The post Retirement Lessons Learned: EDU #2614 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security claiming strategies, IRMAA income adjustments, a listener PSA on the Roth five-year rule, conduit trusts for minor IRA beneficiaries and I-Bond tax reporting, and an inherited IRA passing through a trust.
(10:30) George asks about the Social Security “January Rule” and whether claiming in December 2027 or January 2028 would capture the most delayed retirement credits after reaching full retirement age in May 2027.
(21:00) A listener who retired early and has been performing Roth conversions asks whether he can also file an SSA-44 based on his wife’s upcoming reduction in work income, even though his conversions have been elevating their household MAGI.
(31:00) The guys review a listener PSA clarifying that the fifth year of the Roth five-year rule must be completed entirely—not merely begun—before the holding period is satisfied.
(39:45) Jim and Chris take a two-part question on how conduit trusts handle IRA distributions inherited by minor children, and whether the annual interest-reporting election used for EE bonds can also apply to I-Bonds.
(1:06:00) A listener whose father-in-law named a trust as the IRA beneficiary — rather than the daughters directly — is getting conflicting advice on whether the IRA funds must be taken immediately or if they can spread the distributions — and the taxes — over five years.
The post Social Security, 5-year Rule, Conduit Trusts, Inherited IRAs: Q&A #2614 appeared first on The Retirement and IRA Show.
If you would like to skip over the guys’ banter this week about Jim’s experience going to a Cincinnati Reds game, you can go to (7:00).
Chris’s Summary
Jim and I are joined by Jacob as we revisit buffered ETF mechanics in light of recent market volatility and explain why 100% and 20% buffers can still show interim losses. We also cover how renewals work, why resets are not taxable events in brokerage accounts, where these products may fit in retirement positioning, and a listener email comparing them with bonds and fixed indexed annuities.
Jim’s “Pithy” Summary
Chris and I are joined by Jacob as we go back into buffered ETF mechanics during a stretch where people are actually seeing movement in these products and questioning what they own. When markets pull back, even modestly, the expectation is that protection means no decline at all. Jacob walks through why that is not how these function in real time, and why a 100% buffered ETF can still show a small loss while a 20% buffered ETF can show more, even when the market decline remains within the stated buffer range. The distinction comes down to how these are priced day to day versus how the protection applies over the defined outcome period.
We also clarify how renewals work, what happens when values reset higher or lower, and how that process functions within a brokerage account. The discussion also covers how these may fit within portfolio positioning depending on how the dollars are being used. Jacob outlines how full principal protection may be used for nearer-term spending needs, including the Minimum Dignity Floor, while partial buffers may apply to longer time horizons where some level of downside can be accepted in exchange for additional upside potential. A listener email introduces the idea of using these as ballast, along with a comparison to bonds and fixed indexed annuities, including differences in liquidity, tax treatment, fee transparency, and how returns are delivered.
The post Buffered ETF Mechanics: EDU #2613 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security timing, whether you can “leave” your Social Security benefit to a spouse who doesn’t independently qualify, having a spendthrift trust purchase an annuity, and using a revocable living trust to manage aging parents’ complex financial affairs.
(13:15) A listener born in November asks what their Social Security benefit would be if they begin claiming now, before full retirement age, while still earning $100,000, and when the earnings penalty would lift.
(25:15) Jim and Chris field a question on whether you can “leave” your Social Security benefit to a spouse who does not independently qualify for Social Security.
(34:00) George asks how to structure his estate so that one child receives an inheritance in installments over 20 years rather than as a lump sum, and whether a trust purchasing an annuity could accomplish that goal.
(1:11:30) The guys hear from a listener who explains how being added as co-trustee on his aging parents’ revocable living trust resolved the recurring problem of financial institutions refusing to honor their power of attorney.
The post Social Security, Spendthrift Trust, Living Trust: Q&A #2613 appeared first on The Retirement and IRA Show.
Note: In this episode some information regarding the 5-year rule was misstated – one must get through the fifth, not just be in the fifth year. Jim and Chris clarify on the April 4, 2026 Q&A #2614 episode.
If you would like to skip over Jim and Chris’s banter on the weather, that manages to touch on Colorado water rights (an issue many east of the Mississippi probably find baffling), then you can start listening at (11:45).
Chris’s Summary
Jim and I continue our look through the Ed Slott IRA quiz, covering IRA recharacterization rules, how a surviving spouse may use a deceased spouse’s five year period following a spousal rollover, which IRA funds can roll into an employer plan, and the timing trap that can unravel the strategy of using an employer plan to separate after-tax basis from pre-tax funds.
Jim’s “Pithy” Summary
Chris and I are continuing our run through the Ed Slott IRA quiz — the questions Ed sends out after his twice-yearly training sessions to make sure advisors know not just the right answer but the reasoning behind it. That reasoning is where most people get tripped up, and this episode has several good examples of exactly that.
We start with IRA recharacterization rules — the deadline, what has to happen at the custodian level, how attributable gains or losses factor into the math, and a conversion planning tool that Congress took away in the 2018 Tax Cuts and Jobs Act. It was a strategy that made conversion timing far more forgiving than it is today, and the fact that it is gone still stings. From there we get into the Roth IRA five-year rules — specifically a spousal rollover scenario with a twist that most people, including Chris, do not see coming. The answer turns on a benefit the tax code extends to surviving spouses that is easy to overlook if you are not specifically looking for it.
We wrap up with which IRA funds can actually be rolled into an employer plan and why that distinction matters if you are sitting on after-tax basis inside a traditional IRA. There is a clean strategy for separating it, but there is also a timing mistake that catches people who think they have successfully pulled it off — when they have not. More people fall into that trap than you would expect, and the consequences are not trivial.
The post Ed Slott IRA Quiz Continued: EDU #2612 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails, opening with listener PSAs on Medicare Advantage HSA reimbursement eligibility, then moving into questions on Social Security beneficiary rules and finishing their look at conduit trusts for IRAs.
(7:00) A listener asks whether Social Security benefits can be passed on to a significant other.
(28:00) The guys continue from last week with a listener’s multi-part question on whether a conduit trust should be structured to distribute RMDs before allowing any additional withdrawals — as a strategy for controlling how beneficiaries access inherited IRA funds. The listener also asks what else could trigger a large tax bill in that setup, and whether a conduit trust provides creditor protection.
(1:15:30) George asks for the follow-up promised at the end of a recent episode — specifically, the better approach for having a trust inherit an IRA when you’re concerned about an heir mismanaging the funds.
The post HSA Reimbursement, Social Security, Conduit Trusts: Q&A #2612 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I discuss the Ed Slott quiz questions from his November advisor training, opening with the widow/widower tax penalty and required beginning dates for IRA required minimum distributions before moving into inherited IRA rules — year of death RMDs with multiple beneficiaries and the deadline for satisfying them, spousal rollover options, and spousal RMD timing.
Jim’s “Pithy” Summary
Chris and I dig into the Ed Slott quiz from my November advisor training — 20 questions, open book, and I scored 100 this time. We have been doing this for years and it is not just a matter of asking the question, giving the answer and moving on. We get into the rabbit holes, explain the nuances, and use it as a chance for everybody listening to test their own knowledge.
We open with the widow/widower tax penalty and required beginning dates for IRA required minimum distributions — and the widow/widower question has nothing to do with IRAs but everything to do with retirement planning. The younger a spouse passes away the more intense the penalty, and the longer both of you live together the less it bites.
From there we get deep into inherited IRA rules, which make up the bulk of the episode. How year of death RMDs work when there are multiple beneficiaries, and what the deadline is for satisfying them — there is a question in here that Ed Slott himself argued both sides of for years because the IRS never gave guidance until July 2024. We close on spousal rollover options and RMD timing rules that only apply to surviving spouses. A spouse has choices that no other beneficiary has, and the decision of which way to go can look very different depending on the ages involved. Chris makes the point well — whenever a spouse dies, hit the pause button before you do anything.
The post Ed Slott Quiz – Widow(er) Tax Penalty and Inherited IRA Rules: EDU #2611 appeared first on The Retirement and IRA Show.
Chris is joined by Jake Turner to discuss listener emails on tax filing for mega backdoor Roth contributions, use of HSA funds, I Bonds redemption timing, lowering RMD pressure, and Roth conversions.
(6:30) George asks whether leaving a 1099-R off a return after after-tax 401(k) money was immediately converted to Roth means an amended return is needed or whether the IRS will simply follow up.
(12:15) A listener asks whether HSA funds can be used pre-tax to pay fully self-funded health insurance premiums.
(17:30) The guys are asked how to evaluate redeeming high fixed-rate I Bonds over several years versus waiting until maturity and risking a large one-year tax bill and IRMAA hit.
(30:45) Chris and Jake hear from a widowed listener looking for ways to reduce future RMDs and IRMAA without using Roth conversions or QCDs.
(47:45) Another listener asks whether doing very large Roth conversions over a few years could make more sense than staying within lower tax brackets over a longer period.
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Chris’s Summary
With Jim at the T3 conference in New Orleans, I am joined by Jake Turner to cover how to factor a defined benefit pension into retirement planning, using the situation of a 45-year-old law enforcement officer with a non-covered pension as the backdrop. We walk through evaluating his savings rate against the 15–20% rule of thumb, the lump sum equivalent value of his pension income, why the presence or absence of a COLA matters significantly, and how pension income fits into covering essential expenses over a long retirement.
Jim’s “Pithy” Summary
While I’m at the T3 conference in New Orleans, Chris and Jake use a listener’s situation to dig into retirement planning with a defined benefit pension. The listener is a 45-year-old law enforcement officer who has been contributing to his pension since day one but only started building outside accounts five years ago. He wants to know where he actually stands — and the answer is more nuanced than a simple savings rate comparison can capture.
A big part of that nuance is whether the pension is a non-covered one, meaning it replaces Social Security rather than sitting alongside it. That single distinction changes how you benchmark the savings rate entirely, and it’s the kind of thing that gets glossed over when people just throw out rules of thumb without knowing what’s underneath them. Chris and Jake also get into how pension income fits against the Minimum Dignity Floor — and why a pension that looks rock solid at retirement can tell a very different story decades later if there’s no cost-of-living adjustment attached to it.
There’s also a conversation worth hearing about lump sum options — what they’re actually worth, how to think about comparing them to the lifetime income stream, and why the big number isn’t always the better answer. If you have a defined benefit pension and you’ve been wondering how it fits into the bigger retirement picture, or whether you’re ahead or behind where you should be, this episode covers the framework for thinking it through.
The post Retirement Planning With a Defined Benefit Pension: EDU #2610 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on PSAs regarding IRMAA reimbursements, RMD in-kind transfers, and naming a conduit trust as a retirement account beneficiary.
(8:15) A listener shares a PSA that an IRMAA reimbursement was applied as a credit balance drawn down over several months rather than a lump sum.
(17:00) The guys discuss a listener PSA on SSA-44 filing: when income is underestimated and IRMAA is owed, Medicare reconciles the difference the following November or December with no penalties or interest assessed.
(33:45) George asks whether an RMD can be satisfied through an in-kind transfer of mutual funds to a brokerage account, and whether only a portion needs to be sold to cover the tax bill.
(46:00) Jim and Chris take up a listener question about naming a conduit trust as a contingent beneficiary for retirement accounts, kicking off Part 1 of a broader discussion on see-through and conduit trusts — what each structure is, how they differ, and what happens when an IRA names a trust as its beneficiary. They begin exploring the tax implications and planning considerations involved, noting that these arrangements can create both benefits and unintended complications depending on how they’re set up. The conversation will continue on the next week’s Q&A episode, where they’ll complete this listener’s question and address additional questions received on the topic.
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Chris’s Summary
Jim and I continue our discussion on 99 Retirement Tips from Fisher Investments, picking up where we left off last week. We cover involving children in financial decisions, the liquidity trade-off of paying off a mortgage early, renting before buying in a new retirement location, lifetime gifts as part of the fun budget, and watching for financial predators including a disputed suggestion that low advisor fees may be a warning sign.
Jim’s “Pithy” Summary
Chris and I are back where we left off, working through Fisher Investments’ 99 Retirement Tips, and there’s still plenty to dig into. Tip 23 makes the case for involving your children in your financial decisions — and the reasons go deeper than most people think about. Tip 26 gets into mortgage payoff, and while we partially agree with what Fisher says about it — paying it down doesn’t change your net worth. But it does change your liquidity, and that distinction is worth considering.
Tip 32 is one I feel personally right now: if you’re relocating in retirement, rent first. Never move anywhere with a vacation mindset. I’m doing it in Ohio as we speak, and I’d tell anyone thinking about a move to do the same. Tip 74 recommends lifetime gifting — and the way we handle it, that spending belongs in your Fun Number budget. There’s no written rule you have to wait until you’re gone to help the people you care about.
And tip 86 covers financial predators, which is largely solid — but there’s one line in there that made my blood boil when I read it. The implication is that an advisor charging lower fees might be a warning sign. I have never seen any consumer advocate say that. The 99 retirement tips review of this particular point raises a question worth sitting with: who exactly benefits from that framing?
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Jim and Chris discuss listener emails on Social Security survivor benefits, IRMAA relief and the SSA-44 process, the Social Security earnings test, disclaiming inheritances that are brokerage accounts, and Roth conversion rules for retirees.
(6:00) A listener asks whether his wife’s early Social Security claim at 62 would reduce the survivor benefit she’d receive upon his death.
(14:00) George asks several questions stemming from a successful SSA-44 IRMAA relief request, including whether a retroactive refund is due, whether Step 3 covers the following year, and whether a separate filing is needed for his own income reduction.
(27:30) Jim and Chris respond to a listener who clarifies that benefits withheld under the Social Security earnings test are deferred, not lost, and are returned as a higher benefit at full retirement age.
(31:00) Georgette asks when it makes sense to disclaim an inherited brokerage account and whether passing the assets directly to their children is the right move.
(40:45) The guys are asked about the rules and tax implications of converting brokerage account funds to a Roth IRA, including whether having no earned income in retirement disqualifies someone from doing
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Chris’s Summary
Jim and I review Fisher Investments’ 99 Retirement Tips and begin working through the list, covering only a handful in this episode. We discuss estate planning basics such as having a will, the importance of reviewing estate documents, and considering living wills and trusts, with emphasis on incapacity planning. We then examine longevity statistics, why life expectancy at birth is often misapplied, and how that connects to retirement income decisions, including Fisher’s warning on annuities.
Jim’s “Pithy” Summary
Chris and I start digging into Fisher Investments’ 99 Retirement Tips and, true to form, we only make it through a few because I may have wandered down a rabbit hole or two. The estate planning stuff is straightforward—have a will, review it, don’t ignore the documents that matter if you’re alive but not fully capable. Death is easy administratively. Incapacity is where things get messy, and that’s where families struggle. And that’s where better planning matters most.
Then we get into longevity. If you’re going to say people might live longer than they think, you better use the right numbers. Not the “life expectancy at birth” headline stat. If a couple makes it to 65, the odds shift. That matters. That changes the runway. That changes how you think about income. It also changes how long that portfolio has to work, and how long decisions have to hold up.
And from there we run into the annuity warning. We’re not pro-annuity and we’re not anti-annuity. Many deserve criticism, but if longevity risk is real—and it can be—then you should evaluate lifetime income options on their merits. Social Security is guaranteed lifetime income. Income annuities are too, so they should belong in the conversation. Whether you use them depends on the situation, but you can’t talk about taking longevity seriously and then issue a blanket warning against annuities.
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Jim and Chris are joined by Jake Turner to discuss listener emails in this special tax related episode covering Roth conversions after RMD age, balancing Roth versus Traditional IRA contributions, HSA versus Roth contributions, IRA reporting questions, filing deceased tax returns, and a listener PSA on tax planning software.
(11:30) A listener asks whether converting to a Roth makes sense at age 75 while currently in the 12% bracket and taking RMDs, and whether recent tax law changes create a strategy opportunity.
(20:20) George wonders whether his 30-something children should continue using Roth contributions exclusively or begin balancing with Traditional IRA contributions as their wages increase, and asks what percentage split between Traditional and Roth accounts looks reasonable in retirement.
(48:45) The guys discuss whether covering medical expenses from an HSA and contributing to a Roth IRA, or leaving the HSA intact and paying medical bills out of pocket will result in greater retirement spending flexibility.
(57:00) Jim, Chris, and Jake address whether a spouse who retired during the year is considered covered by a workplace plan, how to answer prior nondeductible IRA contribution questions, and whether Form 8606 is required after making and converting a small IRA contribution in the same year.
(1:10:30) George asks how to handle the direct deposit of a refund on a deceased final 1040, including whether to use the estate bank account with an EIN or the decedent’s existing account, and whether a paper check remains an option.
(1:15:30) A listener PSA introduces Catalyst Tax Insights, a free tool to run “what if” scenarios and estimate taxes owed without using full tax software.
The post Tax Special – Conversions, Contributions, HSAs, Tax Returns, Tax Software PSA: Q&A #2608 appeared first on The Retirement and IRA Show.
If you would rather not listen to the guys’ banter about Jacob’s upcoming move to Iowa, Jim’s garden planning, and a listener correction about the word “imbibe” you can skip ahead to (33:30).
Chris’s Summary
Jim and I are joined by Jacob Vonloh as we discuss using Buffered ETFs prompted by a Morningstar article titled “Buffer ETFs Are Not for Everyone.” We explain how defined outcome ETFs use options to provide an explicit amount of loss protection over a given period while limiting potential gains, and we outline why these products are generally suboptimal for long-term investors. We then connect this to investment positioning, focusing on risk capacity, distribution planning, and why dollars assigned to delay-period Minimum Dignity Floor and Go-Go spending may require a degree of principal protection.
Jim’s “Pithy” Summary
Chris and I are joined by Jacob Vonloh as we take a listener-submitted Morningstar article—“Buffer ETFs are not for Everyone”—and use it to kick off what is going to be a series on principal protection. Morningstar does a very good job in this article laying out what it likes about buffered products, and it also makes some excellent points on where these types of products would fit and where they don’t fit. They’re not for everybody, but they could be of interest in certain cases, in a certain application, and we’re going to share how we use them.
What I want to do in this series is broaden the conversation. Buffered ETFs are just one type of principal protected product. There are multiple tools in that category, and we’re going to walk through where they fit into distribution planning. As you transition from accumulation into what I call the Venn diagram phase, and ultimately into distribution, you have to stop thinking of your portfolio as one big portfolio and start thinking in terms of smaller portfolios—investment positions—based on assigned spending. Dollars earmarked for a legacy position can be invested aggressively. Dollars earmarked for immediate spending—like the Go-Go reserve or the reserve for your MDF—need a degree of principal protection. This ties directly into the Secure Retirement Income Process and the See Through Portfolio and how we navigate asset positioning in retirement.
Show Notes: Morningstar Buffered ETFs article
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Jim and Chris discuss listener emails on Medicare Part B decisions for retirees abroad, Social Security survivor benefit surprises, inherited Roth IRA distribution rules, and balancing Treasuries versus annuities when “safety” is more emotional than mathematical.
(6:45) A listener asks about situations where it might make sense to skip Medicare Part B, including retirees living abroad with strong foreign coverage and people who move to the U.S. later in life and must pay for Parts A and B.
(33:30) George asks why some widows and widowers don’t end up receiving the full benefit their spouse was receiving, even when the surviving spouse’s payment increases after the death.
(52:30) The guys respond to a question about whether an inherited Roth IRA requires annual distributions when the original owner was old enough to have RMDs, or whether the beneficiary can wait until year 10.
(1:11:00) Jim and Chris revisit the annuities versus Treasuries discussion through the lens of fear and peace of mind, including why someone might emotionally trust Treasuries more than insurer guarantees even if the math favors SPIAs.
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Chris’s Summary
Jim and I are joined by Steve Sansone as we revisit Cash Balance Plans and respond to listener follow-up emails.
(8:30) A CPA asks whether cash balance plans could be a fit for farmers with high income near retirement driven by deferred grain and equipment sales.
(18:30) A listener with two controlled-group businesses asks how a cash balance plan works with divergent profit cycles, whether it can support succession planning, and whether it makes sense if ownership works until death.
(36:45) A financial advisor asks for real-world details on costs, duplication/administration, duration, interest crediting rate risk, investment management, participant inclusion decisions, partner exits, lifetime maximums, and terminate/restart mechanics.
Jim’s “Pithy” Summary
Chris and I are joined by Steve Sansone as we dig back into cash balance plans, but this time we’re doing it by letting listener questions drive the conversation. We take three listener emails that each come at this from a different angle: one from a CPA working with farmers facing lumpy income near retirement, one from a family dealing with two controlled-group businesses that don’t behave the same way financially, and one from an advisor who’s basically saying, “Convince me this isn’t just theoretical.”
Chris and I talk with Steve about what makes these plans work and what makes them a headache—cash flow consistency, the “permanence” expectation, why manufacturers with lots of employees can be a tough fit, and how quickly the math changes when you have to fund meaningful benefits for staff. We also get into the stuff people don’t always hear in the sales pitch: what “interest crediting” really means, where the risk lives if returns don’t cooperate, and why newer market-rate designs change the conversation compared to older fixed-rate versions.
And we cover the messy real-life questions: what happens when partners leave, what it looks like to terminate and restart a plan, and why you can’t treat this like an investment strategy with a neat five-to-ten-year horizon. It’s a tax and retirement-acceleration tool with rules, tradeoffs, and guardrails—and Steve does a solid job laying out when it’s worth the complexity and when it’s just not.
The post Cash Balance Plans Part 2: EDU #2606 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on IRMAA appeals using Form SSA-44, avoiding the 10% early withdrawal penalty, and whether a 403(b) distribution can be rolled into an IRA. Jim also manages to turn a discussion on Superbowl food to a conversation on retirement planning for the Go-Go phase of life (with a few other stops in between). So, if you typically skip the banter you may want to tune in around (10:10) for that discussion.
(16:30) George shares his experience repeatedly filing Form SSA-44 to correct IRMAA determinations and explains how Social Security processed and applied his updated income information.
(35:00) A listener asks whether a qualified annuity can be used instead of a 72(t) series of substantially equal periodic payments to avoid the 10% early withdrawal penalty.
(1:04:45) The guys discuss whether 403(b) distributions can be completed as 60-day rollovers into Traditional and Roth IRAs, and whether a custodian could refuse to accept the rollover.
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Chris’s Summary
Jim and I discuss spending anxiety in retirement using a Washington Post article written by a personal finance columnist describing her fear of spending after her husband retires. We look at why the shift from saving to spending can feel destabilizing even when pensions and Social Security are in place, and why fear can persist despite adequate planning. We also address the difference between spending income and spending savings, and how that distinction often affects behavior once retirement begins.
Jim’s “Pithy” Summary
Chris and I use a Washington Post article as a jumping-off point to talk about the moment retirement stops being theoretical and the fear around spending often shows up. The part that stuck with me in this situation is that nothing went wrong. One spouse retires. The other is still working. Pensions are there. Social Security is there. The house is paid off. And the fear shows up anyway. That’s what made me save the article in the first place. She writes about personal finance for a living, and she’s still cutting small expenses, feeling better for five minutes, and then right back to worrying. I’ve said it before, and I’ll say it again—I don’t expect to be immune to that when it’s my turn.
What keeps coming up for me is how differently people react to where the money comes from. Most people are comfortable spending a pension check or a Social Security deposit. It’s like a bottomless cup of coffee—you don’t think about the last sip because another one’s coming. But savings? That’s different. Even when the math works, even when the plan says you’re fine, drawing from something you’ve built for decades feels heavier. That’s where the spending anxiety shows up. Spending slows down. Decisions get second-guessed. Things get pushed out a year at a time. Not because people can’t afford them, but because the shift from saving to spending is uncomfortable.
Show Notes: Article: My husband just retired. I’m scared of running out of money.
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Jim and Chris discuss listener emails on Social Security timing for HSA contributions, investing in a SPIA vs buffered ETFs, and using SEPP 72(t) income to manage ACA credits.
(7:00) A listener describes delaying a Social Security filing to avoid Medicare Part A backdating that would have reduced prior-year HSA contributions, while still receiving full retroactive benefits.
(28:00) Georgette asks what to do with money originally set aside for a condo purchase, weighing ETFs against buying a single premium immediate annuity (SPIA), given an existing fixed indexed annuity (FIA), and pension income that cover living expenses.
(55:45) The guys address whether a SPIA purchased inside a rollover IRA can be used to satisfy SEPP 72(t) rules while keeping income low enough to preserve max ACA credits.
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If you’d like to skip over the guys chatting about cold weather and football you can to (8:15).
Chris’s Summary
Jim and I are joined by Jacob as we continue our discussion on asset positioning and explain how we approach managing investment assets within a distribution portfolio. We outline why dollars are assigned based on purpose and timing and how asset positioning functions as a form of asset-liability matching. The episode addresses cash versus cash-like roles, outcome periods, and how specific tools are evaluated within a broader distribution-focused framework.
Jim’s “Pithy” SummaryChris and I are joined by Jacob as we dig further into how we think about handling portfolios once people are in retirement, specifically through the lens of asset positioning. This episode is built around clarifying how dollars get assigned jobs based on when they’ll be needed and why that sequencing drives the structure of a distribution portfolio.
We spend time breaking down the difference between cash and cash-like holdings and why that distinction matters when money is earmarked for different time horizons. A big part of the discussion centers on outcome periods, how certain tools behave between start and finish, and why mark-to-market pricing during that window can be misleading if you don’t understand what the holding is meant to do. Jacob walks through concrete examples that show how interim movement can look unsettling even when the structure is functioning exactly as designed.
We also get into why disclosure language sounds the way it does across virtually every type of holding, including ones most people are comfortable calling cash. The point isn’t semantics — it’s understanding the gap between legal language and functional role inside a portfolio. Everything ties back to structure, timing, and purpose. This is about how distribution portfolios actually operate in retirement, and why evaluating them with the wrong expectations creates confusion that doesn’t need to be there.
The post Asset Positioning for Retirees: EDU #2604 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security survivor benefits and the earnings test, share a listener PSA on Social Security timing and IRMAA, then cover ERISA protections for retirement rollovers and a PSA from Greg on lifetime unlimited long-term care policies.
(9:45) Georgette asks whether she must still take her husband’s required minimum distributions if he passes during his RMD year and how Social Security survivor benefits work, including whether she should claim a widow’s benefit or wait to take her own.
(50:45) A listener asks how the Social Security earnings test applies when someone retires before full retirement age and applies midyear, and how to avoid missing a month of income due to the timing of benefit payments.
(55:00) The guys share a PSA about applying for Social Security and receiving benefits within days, which caused an unexpected IRMAA impact.
(1:00:35) Jim and Chris discuss whether rolling Roth and pre-tax 401(k) assets into IRAs results in losing ERISA protections, or if separate rollover IRAs are needed to preserve those protections.
(1:15:15) Greg, from our office, shares a PSA clarifying that some lifetime unlimited long-term care policies still exist.
The post Social Security, ERISA, LTC: Q&A #2604 appeared first on The Retirement and IRA Show.
If you want to miss all the fun banter about Jim’s Singo (song bingo) night and his trip to Kentucky and Amish country you can skip ahead to (16:00).
Chris’s Summary
Jim and I are joined by Jacob Vonloh as we discuss investing for retirees, using a listener email as the starting point for a broader conversation about how investment advice and asset management work in practice. We explain why investing changes once people move from accumulation into distribution, including differences in risk tolerance, liquidity needs, and volatility. Jacob outlines how investment tools are evaluated based on time horizon and downside exposure rather than labels. We also discuss planning for aging and long-term care costs, including liquidity needs, inflation considerations, and the SEAL (Savings for Emergencies, Aging, and Long-Term Care) reserve framework.
Jim’s “Pithy” Summary
Chris and I are joined by Jacob Vonloh as we start a new series of conversations inspired by listener emails, and we use those questions as a jumping-off point to talk about what really changes when you’re investing in retirement. A lot of DIY investors successfully built wealth with an accumulation mindset and then try to carry that same approach into retirement, where it doesn’t work. The problem is that accumulation investing and retirement investing are not the same thing, and pretending they are is where people get themselves into trouble. Once withdrawals begin, volatility feels different, timing matters more, and the emotional impact of market swings gets amplified in ways people don’t expect.
We spend time pulling apart how the investment advice industry presents itself, how fee structures are typically layered in, and why we’re very intentional about separating retirement planning from asset management. Jacob walks through how we evaluate investments based on when the money might be needed and how much downside someone can realistically tolerate. Buffered ETFs come up in that context, not as a recommendation, but as a clean example of how downside protection and upside caps reshape risk. The point isn’t the product — it’s that comparing retirement-stage tools to a fully unbuffered equity index without adjusting for risk is fundamentally misleading.
From there, we connect investing back to real planning issues retirees face, especially aging and long-term care. We talk about why insurance isn’t always available or sufficient, how covering one spouse can still protect a household, and why the financially hardest stretch is often when both spouses are alive and care costs begin to show up. That leads into how we think about liquidity, inflation, and time horizon working together inside what we call the SEAL reserve. This isn’t about chasing returns — it’s about structuring money so it can actually support people through retirement without forcing panic decisions at the worst possible time.
The post Investing for Retirees: EDU #2603 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security survivor benefits and divorce rules, a listener PSA on spousal benefits, HSA contribution limits, and whether annuities make sense versus Treasury bonds.
(8:45) A listener asks whether someone who is newly widowed can claim survivor Social Security now, keep working part time, and later switch to their own benefit, and also asks whether you still offer a “coffee and second opinion” or an a la carte Social Security review.
(23:00) The guys field a question from someone with two ex-spouses asking if it’s possible to combine their own Social Security with part of either (or both) ex-spouses’ benefits.
(33:30) George shares a PSA on how filing for Social Security online triggered a spousal-benefit eligibility notice for their spouse, and how the follow-up phone appointment worked without needing an in-person visit or marriage certificate.
(45:15) Jim and Chris answer a question about 2026 HSA contribution limits for two spouses on an ACA family plan who each opened their own HSA and want to avoid overfunding.
(54:45) One writer asks why they should consider annuities given fees and insurer risk when they can buy 20-year Treasury bonds, and adds a quick note about simplifying word choice from a prior email discussion.
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Chris’s Summary
Jim and I continue last week’s EDU discussion on Roth IRA mistakes from an Investopedia article. We cover direct versus 60-day rollovers, the one-per-365-day IRA-to-IRA limit, and the 401(k) 20% withholding rule with the RMD and NUA exceptions. We revisit backdoor Roth mechanics and the pro rata rule, then shift to beneficiary designation forms and why naming an estate creates probate and creditor issues. We close with inherited Roth withdrawal timing under SECURE Act rules and the 10-year window.
Jim’s “Pithy” Summary
Chris and I pick up where last week’s EDU episode left off, using the Investopedia Roth mistakes article as a launching point to correct what they compress or misstate. The rollover section is where people get hurt, because they describe the old IRA rule like it was “once per calendar year,” and it wasn’t. It’s a 365-day framework, and the one-per-365-day limit still matters when you do the “show me the money” version of a rollover. I also keep pushing back on indirect rollovers from a 401(k), because the 20% withholding isn’t optional. There are narrow exceptions—but those aren’t general flexibility, they’re specific rules people routinely misunderstand.
The other item that’s far more important than its position on the list is beneficiary designation forms. These accounts pass by beneficiary form first, not your will, which can create probate delays, attorney fees, and creditor complications for the people left to sort it out. Chris adds the practical version of the same mistake: circumstances change, paperwork doesn’t. Old beneficiaries stay on file, and the form controls the outcome even when it creates an awkward situation.
We also get into inherited Roth timing under the SECURE framework—who qualifies as an eligible designated beneficiary, what the 10-year window actually requires, and why Roths don’t fit the required beginning date logic the way traditional accounts do. That difference matters when you’re thinking about flexibility for heirs and how long the account can sit untouched. If the real goal is the zero in the 2-1-0 Tax Ordering Number, the logic behind leaving a Roth can look very different than what you’d conclude from a short listicle about Roth IRA mistakes.
Show Notes: Article – 11 Mistakes to Avoid With Your Roth IRA
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Jim and Chris are joined by Jake to discuss listener questions on SSA-44 and IRMAA surcharges, inherited IRA spousal rollover rules, long-term care insurance benefit caps, and ACA tax credits.
(4:45) George asks whether an unexpected W-2 stock option payout in 2025 could support filing SSA-44 to reduce 2027 IRMAA surcharges, especially if he stops consulting income afterward.
(12:00) A listener asks whether SSA-44 can be used retroactively to request a refund of 2025 IRMAA surcharges after a job loss pushed MAGI below the threshold.
(18:15) Georgette asks whether she can take withdrawals from her deceased spouse’s inherited IRA without penalty and still later move the remaining balance into her own IRA.
(28:00) The guys address why long-term care insurance policies often have a lifetime benefit cap and whether benefits can run out during an extended care event.
(46:45) Chris and Jake cover whether long-term capital gains count toward the modified adjusted gross income used for ACA tax credits and can affect eligibility.
The post IRMAA, Inherited IRA, LTC, ACA Tax Credits: Q&A #2602 appeared first on The Retirement and IRA Show.
If you want to skip over some weather banter you can go to (14:15).
Chris’s Summary
Jim and I review Roth IRA mistakes and walk through key rules on earned income eligibility, income limits, spousal contributions, excess contributions, and qualified distributions. We use an Investopedia article as a framework, clarify how MAGI impacts Roth eligibility, explain the October 15 correction deadline, and break down the two-prong test for tax-free Roth earnings withdrawals, including how the five-year rule is measured across tax years.
Jim’s “Pithy” Summary
Chris and I kick off the first EDU show of 2026 by taking an Investopedia piece called “11 Mistakes to Avoid with Your Roth IRA” and using it as our launchpad. We’re not reading the article to you—we’re breaking down what they got right, what they explained too loosely, and what they left out that changes the meaning. We start with the basics that still trip people up: you need earned income to contribute, and a lot of income that feels “earned” (like dividends, interest, rental income, or IRA distributions) doesn’t count. Then we pivot to the opposite problem: earning too much and accidentally making an ineligible Roth contribution because your MAGI crossed the line, often after a late bonus or surprise taxable payout.
We get into a category of mistakes that can create problems with the IRS: excess contributions. We walk through how easy it is to overfund a Roth when you have multiple accounts, and why the correction rules matter more than most people realize. We talk about the October 15 deadline, how the custodian won’t stop you, and why “removing the excess” isn’t always the same as removing what you deposited. We also get into the weird but real quirk where, if you miss the correction deadline, you may only need to remove the excess contribution itself, not the growth tied to it.
We also dig into the qualified distribution rules for Roth earnings, because this is where the five-year rule gets misunderstood. The Roth has to be five tax years old, and you need a qualifying condition—59½ is one, but it’s not the only one. That’s where the article oversimplifies, and where people make avoidable mistakes when taking earnings out too early.
Show Notes: Article – 11 Mistakes to Avoid With Your Roth IRA
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Jim and Chris discuss listener emails on Social Security claiming strategies, deemed military wages, and survivor benefits timing, a PSA from Jim and Chris on their New Year’s resolution, and QLAC use for inherited IRAs.
(11:00) A listener asks whether a spouse who will be collecting spousal benefits should ever delay claiming past full retirement age and also asks for retirement drawdown calculator recommendations.
(24:30) George asks how veterans can verify that deemed military wages were credited correctly to their Social Security earnings record.
(36:00) The guys address whether a surviving spouse can keep both Social Security checks after a spouse dies after being given conflicting answers from the Social Security Administration.
(45:00) Jim and Chris share a PSA on their New Year’s resolution relating to estate planning.
(1:02:45) A listener asks whether an inherited IRA can be used to purchase a QLAC with payments starting at age 84.
The post Social Security, Deemed Military Wages, Estate Planning, QLACs: Q&A #2601 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I review new MYGA variations and examine how insurers and product developers are marketing hybrid annuity designs using MYGA language. We walk through four examples from an April 2025 article—“Lockdown,” “Minimum Accumulation Guarantee,” “Extra Extra,” and the “End-of-Term Equity Kicker”—and explain why these products, despite being labeled as MYGAs, rely on index-linked features and do not behave like traditional MYGAs.
Jim’s “Pithy” Summary
Chris and I spend this episode talking through an article from earlier this year that highlights where the annuity industry seems to be headed. While not all good or all bad it centers on something I don’t think needed fixing in the first place. A MYGA is simple. It’s predictable. It’s easy for people to understand. It looks a lot like a CD (minus the FDIC protection, of course) issued by an insurance company, with a guaranteed rate for a defined period of time. That simplicity is exactly why we use MYGAs in our retirement plans for principal protection to cover near-term spending, including the delay period Minimum Dignity Floor and early Go-Go spending.
What the article describes are four designs that are being positioned under the MYGA label, even though they introduce index-linked elements that change how the product behaves. The names alone tell you this is marketing at work. “Lockdown,” “Minimum Accumulation Guarantee,” “Extra Extra,” and the “End-of-Term Equity Kicker” are all attempts to add features that sound appealing while keeping the comfort of the MYGA name. In reality, these designs are borrowing from the fixed indexed annuity world and layering those ideas onto something that was not originally intended to work that way. But I’m not at all surprised that the insurance industry couldn’t leave well enough alone and took something simple and practical and complicated it with these new MYGA variations.
The post New MYGA Variations: EDU #2553 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security filing timing and online claiming language, a listener PSA on IRMAA and the online SSA-44, ACA income planning before Medicare, an IRA to HSA transfer, and annuity income needs.
(6:45) The guys address how to word an online Social Security application so the first check is paid for a specific month when claiming at age 70, and whether applying 2–3 months before the 70th birthday is the right approach.
(14:00) A listener shares a PSA on filing SSA-44 online after retirement, including how IRMAA recalculations reflected estimated future-year income and how the resulting tier was communicated in the approval letter.
(25:00) Jim and Chris discuss whether it makes sense, from a planner’s perspective, to stop working and manage income in a way that keeps health insurance affordable until Medicare eligibility.
(38:45) George asks about doing the once-in-a-lifetime tax-free IRA-to-HSA transfer, how the HSA testing period works, and whether it’s worth doing before starting Medicare to reduce future RMDs.
(49:00) A listener asks whether annuity income is still useful for covering a minimum dignity floor gap when assets are high and spending needs are modest, and how to think about guaranteed income given planned retirement timing and gifting goals.
The post Social Security, IRMAA, ACA Planning, IRA to HSA Transfer, Annuities: Q&A #2552 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I are joined by Steve Sansone as we discuss cash balance plans and explain how they function as hybrid defined benefit plans that present as account-based arrangements. We cover who these plans are designed for, including high-income business owners and professional groups, how age and employee demographics affect feasibility, and why allowable contribution levels can far exceed defined contribution limits. We also outline nondiscrimination rules and how they are applied, employer commitment requirements, and other general setup considerations.
Jim’s “Pithy” Summary
Chris and I are joined by Steve Sansone as we take a deeper dive into cash balance plans and why they show up in very specific situations, not as a one-size-fits-all solution. Steve explains how these plans sit in the defined benefit world but look like a defined contribution account, which is where a lot of confusion starts. We spend time on who they’re actually built for, why high-income professionals tend to be the ones asking about them, and why the contribution numbers can look startling if you haven’t seen the mechanics before.
We also talk through the tradeoffs, because these plans are not free money and they are not magic. Steve walks through how demographics drive everything, why age gaps between owners and employees matter, and how employer contributions to staff are part of the deal. We discuss why, in the wrong situation, these plans can pour fuel on the fire of a future tax problem, and why, in the right situation, they can make sense when paired with intentional planning during the retirement tax planning window before required minimum distributions begin. We frame that discussion around the same planning lens we use elsewhere on the show, including how the 2-1-0 Tax Ordering Number concept helps evaluate whether the front-end tax benefit is worth the back-end complexity.
The post Cash Balance Plans Explained: EDU #2552 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails on Social Security spousal eligibility and claiming coordination, a listener PSA on Social Security proof of marriage requirements, RMD planning while still working, money market earnings in brokerage accounts, and using QLACs for long-term care planning.
(16:15) Georgette asks whether the repeal of WEP and GPO affects her eligibility for a spousal benefit if her ex-husband worked for the federal government and she did not pay into Social Security.
(26:45) A listener asks how Social Security works when one spouse lacks enough work credits for their own benefit and only qualifies for a spousal benefit, including whether both spouses must claim at full retirement age to access that benefit.
(42:00) The guys address a PSA on why Social Security may already have proof of marriage on file for one spouse due to a name change but still requires documentation from the other spouse when benefits are claimed.
(49:30) Jim and Chris discuss whether maximizing pre-tax retirement contributions and rolling a SEP IRA into a 403(b) can reduce or eliminate RMDs under the still-working exception.
(1:06:45) A listener questions the statement that Money Market earnings are minimal, pointing to current yields in a fund they hold.
(1:12:00) The guys respond to feedback on whether a QLAC could be an effective way to address long-term care planning when self-funding alone does not feel sufficient.
The post Social Security, RMDs, Money Market Earnings, QLACs: Q&A #2551 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I are joined by Jake Turner as we cover the Math Act and a set of shorter EDU topics Jim has been collecting. We start with an SSA-44 update, including listener and client feedback on submitting the IRMAA redetermination form online through an SSA.gov account. Jake explains how IRS “math error” notices work today, why they’re often vague, and what the new law requires for clearer explanations and response deadlines. Jim then walks through the Automatic IRA Act’s proposals, including an annuity-style “protected lifetime income solution” requirement over certain balances, and we close with a quick way to sanity-check MYGA rates using AnnuityRateWatch’s yield curve.
Jim’s “Pithy” Summary
Chris and I are joined by Jake Turner as we bounce from Social Security admin housekeeping to Washington trying, yet again, to make the IRS act like it’s talking to actual humans—starting with the Math Act. If you’ve ever opened one of those IRS letters that basically says “you owe us money” without showing you how they got there, you already know why this matters. Jake lays out what those notices are really doing behind the scenes, why clients forward them to preparers in a panic, and what the new requirements are supposed to force the IRS to include so you can actually understand what they’re alleging and what happens if you don’t respond.
Then we pivot into the Automatic IRA Act, and I’ll be honest: I’m less interested in the political theater than I am in what it signals. There’s the small-business auto-enrollment concept—opt-out, no match requirement, and all that—and then there’s the part that made me laugh out loud when I saw who was cheering it on. Once you cross a certain 401(k) balance, the proposal would require employers to offer a “protected lifetime income solution,” which is just a polite way of saying “annuities are trying to get a bigger seat at the 401(k) table.” That opens up all the practical questions: what counts, who defines it, and how this intersects with the slow drift of defined contribution plans trying to behave a little more like pensions.
The post Math Act and Automatic IRA Act: EDU #2551 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener emails starting with PSAs about IRMAA and Social Security spousal benefit applications, then questions on IRMAA, QLAC-related RMD rules, and a Roth conversion involving a fixed indexed annuity (FIA).
(9:30) Georgette shares a PSA explaining that she successfully filed Form SSA-44 preemptively—before receiving an IRMAA determination letter.
(21:15) A listener offers a PSA describing issues with an online Social Security spousal benefit application that was denied after being submitted separately from the working spouse’s application.
(29:45) The guys discuss how the Social Security Administration determines IRMAA when a tax return is delayed due to combat-zone service and whether a significant drop in income qualifies for Form SSA-44 relief.
(38:45) Jim and Chris address whether overestimating income on Form SSA-44 results in a refund, how survivor benefits are affected if claimed early, and whether post-retirement employer coverage is treated as active employee benefits for Medicare Part B and IRMAA purposes.
(50:45) George asks whether payments in excess of the RMD from a QLAC can be applied toward RMDs for other IRAs, or only toward the non-annuitized portion of the same IRA.
(1:00:20) A listener asks how the pro rata rule applies to a Roth conversion when assets include a fixed indexed annuity (FIA) with a guaranteed lifetime withdrawal benefit.
The post IRMAA, Social Security, QLACs, Roth Conversions: Q&A #2550 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I discuss secure income as we review a Yahoo Finance article for middle-class retirees. We use it to highlight longevity considerations and the differences between guaranteed income approaches and traditional safe withdrawal rate or Monte Carlo methods. We also cover where spending-segmented planning and hybrid long-term-care annuities might fit in.
Jim’s “Pithy” Summary
Chris and I discuss an article titled “How Middle-Class Retirees Can Make Their Money Last 25 Years or Longer” to get into the parts of retirement planning that actually matter when you may be retired for far longer than the industry tends to model. The article leaves out the realities of aging, the changing ability to manage complex finances, and the specific expenses that follow you for life, which lets me lay out why the Minimum Dignity Floor needs to be treated differently from everything else rather than blended into one big withdrawal strategy that assumes stability where none exists.
I talk through why I push back so hard on traditional safe withdrawal rate thinking, especially the notion that retirees should simply trim spending whenever markets dip. I know you’ve probably heard me say it before – that approach ignores the reality many retirees face by not addressing what people cannot reduce and overstating what they can. It also glosses over how income behaves differently depending on its source, why some streams ratchet upward while others swing unpredictably, and how risk pooling creates stability that a portfolio alone cannot. The gaps in the article also give room to dig into long-term care, including why certain tax-driven situations make hybrid LTC annuities funded by non-qualified contracts worth considering. And underlying all of this is the point that the goal is not to react to markets for decades on end—it is to build a structure that supports the life you want to live. That is where secure income becomes essential.
Show Notes:
Yahoo Finance Article
The post The Importance of Secure Income for Retirement: EDU #2550 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security family maximum and suspending benefits, a listener PSA on IRMAA premiums, a listener PSA on Medicare premiums, a listener PSA on Social Security claiming strategies, Roth contribution rules, and Roth conversion disadvantages.
(4:30) George asks how the combined family maximum benefit works when two retirement records are combined to increase the family limit for auxiliary benefits paid to a spouse and two minor children.
(16:00) A listener asks what additional factors should be considered when suspending a Social Security benefit at full retirement age and restarting at 70 after previously claiming early.
(30:15) The guys share a PSA in which a listener states that IRMAA is a premium rather than a tax because Medicare enrollment is optional.
(37:45) Georgette shares her objections to Chris describing the base Medicare premium as “free” and explains why she feels that is misleading.
(44:30) A listener offers a couple of PSAs, first sharing their thoughts on Nokbox, then sharing an article on a Social Security claiming strategy they believe could help people concerned about sequence of returns.
(51:00) The guys answer a question about how a 529-to-Roth IRA transfer affects the annual Roth contribution limit when part of the rollover is gains.
(56:30) Jim and Chris address what disadvantages exist when choosing a Roth conversion instead of a non-RMD IRA withdrawal when both would be taxable.
Show Notes:
NokBox
Social Security | Readjust your claiming strategy | Fidelity
The post Social Security, IRMAA, Medicare, Roth Contribution Rules, Roth Conversions: Q&A #2549 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I review the QLAC 1098-Q and walk through how this form reports premiums, fair market value, and contract status. We compare it to Form 5498, outline how the fair market value and excess annuity payments can be used under Secure Act 2 Section 205 with other IRAs, explore the age-85 and surviving-spouse reporting rules, and touch on listener PSAs about using QLACs as part of a broader self-funded long-term care approach.
Jim’s “Pithy” Summary
Chris and I use the QLAC 1098-Q as a way to show how the IRS keeps tabs on your QLAC and why that little form matters more than people think. I talk about it as the “kissing cousin” of Form 5498, walk through how box 3 tracks cumulative premiums against the current $210,000 lifetime limit, and explain how the fair market value and projected income give the IRS what it needs while also giving you the data to run the Section 205 strategy after Secure Act 2.
Then I get into the strange rule that says the company only has to send 1098-Qs until age 85 or death for the original owner, contrast that with the different rule for a surviving spouse, and spell out why it could be a real problem if the insurer stops providing a usable fair market value once income has been turned on. We kick around how that interacts with the prohibition on DIY fair market value calculations, the inability to get a QLAC quote after age 85, and why advisors and clients are going to care which companies keep sending this information even when they technically don’t have to. On top of that, I read listener emails about using QLACs alongside self-funding long-term care and push back on the idea that you only insure things you are “sure” you’ll need.
The post The QLAC 1098-Q: EDU #2549 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on IRMAA brackets and several QLAC topics including RMD interaction, suitability, payout values, and purchase timing.
(19:30) A listener wonders if their lower 2024 income will automatically reduce their 2026 IRMAA even though it doesn’t qualify for an SS-44, or if they must contact the SSA.
(25:15) George asks whether going above certain income thresholds in 2025 could keep IRMAA lower in 2027 because of inflation adjustments.
(34:30) The guys weigh whether QLAC income, once it begins, can offset RMDs on other IRA holdings.
(54:00) Georgette wants to know who is a good candidate for a QLAC, how it is purchased, and which features to consider.
(1:05:00) A listener seeks guidance on determining early- and late-start payout values for a QLAC and whether those values are fixed or variable.
(1:10:15) Jim and Chris consider whether buying a QLAC earlier leads to higher payments at the same deferral age and what factors affect purchase timing.
The post IRMAA Brackets and QLACs: Q&A #2548 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I discuss QLAC use cases in the context of retirement income planning and how the Treasury Department designed these annuities to function. We walk through when someone might consider using one, how the absence of cash value affects planning decisions, differences among providers on turning income on early, the impact of mortality credits on later-life payouts, and how QLACs can help stabilize the post-delay period for people focused on long-term secure income.
Jim’s “Pithy” Summary
Chris and I take a deeper dive into QLACs by taking what we talked about last week and looking closer at where these things might fit into a retirement plan. The Treasury Department set QLACs up with no cash value, which locks them straight into that verb-annuity world we often talk about. That design wasn’t about selling a new product—it came out of watching people’s IRAs get hammered in 2008 and realizing some retirees needed secure income for the older version of themselves. Like so much in retirement planning I see these products as part of the negotiation between the younger you and the older you.
The younger you has to decide how much certainty you want in the years when your body and your mind aren’t running at full speed. I talk about that all the time: we are degrading, and it doesn’t take much—like me tripping on a hike—to be reminded of it. A QLAC is one way to make life easier for the older you by guaranteeing income that covers the Minimum Dignity Floor when you may not want to be making complex decisions. Some insurers let you turn income on earlier, some don’t, and those differences matter. Chris brings in sample quotes, and when you see what mortality credits can do in your 80s, you understand why people might actually consider using one.
Not everyone needs a QLAC. A lot of you value flexibility and liquidity, and that’s exactly what you give up when you commit to something with no cash value. What I point out here is how easily the conversation around these annuities drifts into investment comparisons when that’s not what they’re built on. QLACs are insurance products, tied to longevity and mortality credits, and that’s the context they belong in. Understanding them inside that framework—what they can do, what they can’t, and how their structure differs from account-based assets—is the real goal of this discussion.
The post QLAC Use Cases and Planning: EDU #2548 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security spousal benefits, IRMAA’s classification, concerns about buffer-style funds, the growing push toward private investments, and moving from mutual funds to ETFs.
(22:30) A listener presents a hypothetical asking whether the repeal of WEP/GPO could allow Georgette to receive a spousal benefit based on her ex-husband’s Federal Employee record.
(28:30) Jim and Chris review a listener’s question about when his spouse can file for her spousal Social Security benefit after he submitted his own application.
(37:30) The guys address a listener’s challenge to the explanation that IRMAA is an insurance premium rather than a tax.
(43:45) George asks about a recent AQR paper evaluating the effectiveness of buffer funds.
(1:01:45) A listener wonders whether the growing push toward private investments—such as private equity and private debt—means they should consider using them.
(1:10:45) Jim and Chris review a listener’s question on whether long-held mutual funds can be moved into ETFs without triggering large capital gains.
The post Social Security, IRMAA, ETFs, Private Investments: Q&A #2547 appeared first on The Retirement and IRA Show.
If you would prefer to miss Jim’s update on his broken-down truck and recent travels you can skip ahead to (12:45).
Chris’s Summary
Jim and I walk through QLAC rules and explain how qualified longevity annuity contracts fit into our Secure Retirement Income Process for people who want reliable income later in life. We look at how the Treasury Department designed QLACs after the 2008 market correction, how they work inside IRAs and employer plans, why mortality credits matter, and what Secure 2.0 changed for RMDs.
Jim’s “Pithy” Summary
Chris can’t hide his reaction when QLACs come up and one listener wondering why brings about today’s conversation. A QLAC is simply a very specific deferred income annuity the Treasury Department carved out after the 2008 market mess—its purpose was to let people secure future lifetime income inside IRAs and employer plans without RMD rules getting in the way.
I make the case that none of this is about chasing returns. It’s about recognizing that longevity insurance is a different tool entirely, one built around mortality credits and the power of deferring income to a later phase of life. We talk through how those credits work, how payout structures change when you share them or hold more back for beneficiaries, and why people get whipsawed by the industry: asset managers who never want assets to leave their books, and commission-driven annuity salespeople who try to turn everything into a product pitch.
A listener’s email raises a real-world concern—how to make sure the later years’ Minimum Dignity Floor is supported when a portfolio has had its ups and downs. QLACs come into the discussion as one answer to that problem, and I lay out who this kind of deferred lifetime income tends to help and the situations where people might consider using it inside their IRA.
The post QLAC Rules and Uses: EDU #2547 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security claiming timing with a listener PSA on application details, Social Security earnings rules at FRA, estate planning organization systems, and restrictions for annuity payments.
(15:30) Georgette shares a PSA about the Social Security application process and asks whether applying for benefits to start the month she turns 70 ensures she receives all delayed credits.
(30:00) A listener asks how the earnings test applies in the months before full retirement age, what the 2026 limits are, and whether six months of retroactive benefits can be claimed at FRA without triggering the income test.
(43:15) The guys share a listener’s PSA on preparing the non-planner spouse, concerns about health-care constraints, and using an organizational system so a trusted friend can help without sharing passwords in advance.
(1:04:30) Jim and Chris discuss an annuity owner’s difficulty getting IRA annuity payments direct-deposited when the receiving account is titled in a Trust and ask how to address name–titled account mismatches.
The post Social Security,Estate Planning PSA, Annuity Payments: Q&A #2546 appeared first on The Retirement and IRA Show.
Chris’s Summary
With Jim away this week, I review the 2026 Social Security changes from the recently released SSA Fact Sheet covering the 2.8% COLA, the new taxable maximum, quarters-of-coverage earnings, and earnings test limits. I also walk through projected Medicare Part B premiums and the deductible, explain the hold harmless provision, and outline 2026 IRMAA brackets for joint and single filers, including how compressed brackets affect survivors.
Jim’s “Pithy” Summary
With me out in the Utah mountains chasing elk, Chris takes the mic solo to dig into the updated Social Security Administration Fact Sheet—and he brings plenty of insight to go with it! He explains how the 2.8% COLA will show up in January payments, what the new taxable maximum means for workers, and how the earnings test still trips up retirees earning wages before full retirement age. He even touches on the grace-year rule, breaking it down in the clear, detailed way only Chris can.
He also reviews projected Medicare changes, walking through the expected $206.50 Part B premium, the $288 deductible, and the timing behind the official release delays. From there, he unpacks the hold harmless provision—who qualifies, who doesn’t, and why IRMAA can still sting even with protections in place.
Finally, Chris connects it all to real-world planning, outlining the 2026 IRMAA brackets and showing how compressed thresholds hit surviving spouses hardest. He ties these updates back to our 2-1-0 Tax Ordering Number philosophy, showing how tax strategy, IRMAA, and retirement income all intersect.
The post 2026 Social Security Changes: EDU #2546 appeared first on The Retirement and IRA Show.
With Jim is away at a conference, Chris is joined by Jake to discuss listener questions on Social Security survivor benefits, and Roth conversion strategies.
(6:30) A listener asks how a widow can maximize her Social Security benefit when her late husband had not yet claimed his.
(14:15) George seeks guidance on figuring out if he and his wife need to do Roth conversions, and, if so, how much.
(40:00) The guys address a listener considering redirecting new Roth contributions to instead pay taxes on larger Roth conversions in a higher tax bracket for the next five years.
The post Social Security and Roth Conversion Strategies: Q&A #2545 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I explore retirement preparedness through a listener’s experience navigating a sudden medical diagnosis, relocation for care, and the challenges of bringing an uninvolved spouse up to speed. His reflections on estate planning, account access, and survivorship highlight how fragile assumptions can be—especially around health and timelines. The story reinforces our emphasis on planning that remains clear and functional even as circumstances change unexpectedly.
Jim’s “Pithy” SummaryChris and I share one of the most personal emails we’ve ever received—written by a listener who now finds himself in a situation he never thought he’d face. He had a clear plan, a vision of his Go-Go years, and the confidence that he’d have time to enjoy them. Then life changed. A misdiagnosis. A serious illness. A move across state lines to be closer to proper care. And through it all, a deep reflection on what he hadn’t prepared for—and what he’s now urging others to think about.
This isn’t just a medical story. It’s about the ripple effects of life-changing events. There are a lot of questions to consider beyond what medical services are available before retiring somewhere. What happens when the spouse who never handled the finances suddenly has to run the show? What if they don’t know the passwords, the process, the plan? How do you prepare someone to make decisions they have little interest in and never expected to deal with?
And that’s what today’s conversation is really about—retirement preparedness in the real world. Not the kind built around ideal assumptions, but the kind that survives when those assumptions fall apart. We talk about the importance of simplicity, the vulnerability of aging, and why our Secure Retirement Income Process is designed to keep things clear, steady, and understandable—especially for the people left behind.
The post Retirement Preparedness and Planning Lessons: EDU #2545 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security COLA timing, spousal claiming strategy, IRMAA tax treatment, Roth IRA rollovers from 529 plans, and a listener PSA on deferred annuity RMD rules.
(8:00) Georgette asks whether her initial Social Security benefit—approved in September for a December start—will reflect the January COLA increase.
(15:30) A listener with similar PIAs and ages to their spouse asks whether it makes sense for one to claim early and the other to delay until 70.
(30:30) George shares his realization that the IRMAA surcharge appears to be included in the SSA-1099’s taxable benefit amount, and calls it out in a PSA.
(50:30) The guys respond to George’s question about whether a $5,000 rollover from a 529 to a Roth IRA will be treated entirely as contributions for tax-free early withdrawal.
(1:08:00) Jim and Chris address Peter’s PSA about calculating RMDs when comparing DIAs and FIAs with GLWBs for a future income stream starting at age 75.
The post Social Security, IRMAA Taxation, 529 Rollover, Deferred Annuities: Q&A #2544 appeared first on The Retirement and IRA Show.
If you would like to skip Jim and Chris discussing Jim’s travel plans and the guys’ frustration with low-cost airline pricing, you can skip ahead to (10:30).
Chris’s Summary
Jim and I continue our discussion on Social Security claiming strategies, revisiting the debate between Professors Derek Tharp and Laurence Kotlikoff. We explore how academic disagreements overlook the practical realities of retirement, emphasizing that Social Security is a resource, not a contest. We examine listener experiences, psychological factors, and portfolio interactions, highlighting how claiming decisions should reflect individual comfort, income structure, and long-term needs—not just mathematical optimization.
Jim’s “Pithy” Summary
Chris and I wrap up our walk through of Professor Kotlikoff’s response to Derek Tharp’s Social Security article—two academics with brilliant résumés and completely opposite opinions on claiming strategies. One says claim early. The other says delay to 70. But both, in my opinion, miss the bus when it comes to what actually matters to retirees: peace of mind.
We read two listener emails that bring the conversation back to reality. One listener puts it simply: “delaying Social Security is longevity insurance”. The second shares two real stories: a friend who claimed at 63, had a serious health event at 68, and passed away at 72, and a father who claimed at 62 but lived to 95. Same choice, very different outcomes. That’s why I say retirement is just a seesaw between the younger you and the older you—and you don’t know which one’s going to show up.
We also dig into some of the risks that get thrown around to justify early claiming—like sequence of return risk or loss of spending flexibility—and explain why they don’t hold much water if your retirement plan is structured the right way. The delay period isn’t something to be afraid of. It has an end date. You can plan for it.
For us, there’s no single right answer. The correct claiming strategy is whatever works for the person. But too many people focus on how to die with the most, instead of asking what their Social Security has to do for them.
Show Notes
Derek Tharp article
Laurence Kotlikoff article
The post Social Security Claiming Strategies, Part 2: EDU #2544 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on how Medicare enrollment affects HSA contributions, Social Security survivor benefits and IRMAA adjustments, financial advisor fee disclosures, and the Thrift Savings Plan (TSP) as a tool in retirement planning.
(10:00) A listener asks whether enrolling in Medicare in December with coverage starting in January limits HSA contributions due to the six-month retroactive rule.
(31:00) The guys address how a December birthdate affects delayed retirement credits and whether a surviving spouse would receive the full 8% annual increase.
(39:00) George wants to know if he can use SSA Form 44 to reduce his IRMAA premium calculation after retiring and lowering his income.
(47:00) Jim and Chris respond to a question about financial advisor fee disclosures.
(59:15) A listener asks for Jim and Chris’ thoughts on the Thrift Savings Plan, particularly use of the G Fund.
The post HSA Contributions, Social Security, Fee Disclosures, TSPs: Q&A #2543 appeared first on The Retirement and IRA Show.
Chris’s SummaryJim and I examine a recent Social Security claiming strategies debate prompted by articles from Derek Tharp and Laurence Kotlikoff. The episode highlights how opposing valuation frameworks—economic modeling versus purpose-driven income planning—can lead to drastically different conclusions. We explain why assigning Social Security a clear job, such as covering your Minimum Dignity Floor, provides a more reliable foundation for deciding when to claim.
Jim’s “Pithy” Summary
Chris and I walk through the disagreement between Professor Tharp and Professor Kotlikoff on Social Security claiming strategies. These are incredibly smart guys, and I respect what they’ve accomplished—but I think they’ve both missed the boat. They’re focusing on who’s right from an academic standpoint instead of what actually matters to real people: how Social Security fits into a retirement plan.
I go back to the woman I bought strawberries for—the one who thanked me and told me she lives on just Social Security. That moment changed my life. It’s why I became a retirement planner. Retirement is a seesaw between the younger you and the older you. And you have to make an explicit promise that the older you will be okay. I’ve never liked making that promise with volatile assets. For core expenses—food, utilities, transportation, housing, and health care—you need income that lasts as long as you do.
So no, I don’t think everyone should delay to 70. And I don’t think everyone should claim early. It depends on what Social Security needs to do in your plan. If you don’t need it, fine. But if you do, and you claim early just because “you might die,” what happens if you don’t? That older you could have had 76% more—and they’re the one who’ll feel the difference.
Show Notes:
Tharp Article
Kotlikoff Article
The post Social Security Claiming Strategies, Part 1: EDU #2543 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on spousal Roth IRA eligibility, backdoor Roth contributions using a solo 401k, Social Security timing, post-tax contributions to an IRA and 401k , and an HSA strategy coordinating withdrawals with Roth conversions.
(9:30) George asks whether he can contribute to a spousal Roth IRA after his retirement if his wife continues working and their income meets eligibility thresholds.
(20:00) A listener wonders if switching from a SEP IRA to a solo 401k would allow him to make backdoor Roth contributions and improve tax deductions.
(31:45) The guys address a listener’s plan to claim Social Security at 62 despite having sufficient pension income and IRA savings.
(1:01:30) Jim and Chris respond to a question about making post-tax contributions to a traditional IRA and whether post-tax 401k contributions converted to a Roth 401k right away ever create basis.
(1:05:45) A listener considers paying medical expenses from his HSA instead of IRA withdrawals to allow more room for Roth conversions without increasing taxes.
The post Spousal Roth, Backdoor Roth, Social Security, Post-Tax Contributions, HSA Strategy: Q&A #2542 appeared first on The Retirement and IRA Show.
To skip over Jim and Chris chatting about the government shutdown delaying Social Security and Medicare announcements, and Jim’s upcoming travel plans—including concerns about flight delays and his upcoming elk hunt in Utah you can skip ahead to (8:15).
Chris’s Summary
Jim and I walk through common IRA rollover mistakes and clarify the once-per-year rollover rule, including exceptions for Roth conversions and employer plan transfers. We explain the differences between direct and indirect rollovers, how constructive receipt is determined, and when a spousal rollover might cause unexpected tax penalties. We also outline when 60-day rollovers can still be useful, especially with maturing MYGAs, and share practical tips to avoid triggering unexpected distributions.
Jim’s “Pithy” Summary
Chris and I cover IRA rollover mistakes—especially the ones that crop up with 60‑day rollovers. We’re talking the kind of errors that can cost you taxes, penalties, and your sanity. This all started with some emails about the 60‑day rollover strategy for Roth conversions, but it quickly turned into a full‑blown EDU on how rollovers go sideways—fast.
We explain the difference between a direct and indirect rollover (hint: if you’re frolicking in dollar bills on your living room floor, it’s indirect), why you can’t do more than one IRA‑to‑IRA rollover per 365 days, and how the IRS finally shut down the old rollover shuffle thanks to the poor guy in the Bobrow case—who won one fight and lost the big one in the same ruling.
Then we take it further. Surviving spouses? You’ve got options. But if you’re under 59½ and roll inherited IRA money into your own account too soon, you just triggered the 10% penalty. Only a spouse can do that kind of rollover, by the way. Chris and I get into a whole scenario with a dead husband, a widow, and a girlfriend who didn’t get the memo on common‑law marriage. No joke.
And if you’re sitting on a MYGA in an IRA, you better pay attention when that thing matures. Insurance companies love to auto‑renew on day 31, and we explain how a 60‑day rollover can give you breathing room—if you haven’t already used your one for the year. Our go‑to move with IRA‑based MYGAs? You guessed it: the 60‑day rollover. Just don’t mess it up or you’ll blow your chance at penalty‑free flexibility—and that includes protecting your Minimum Dignity Floor.
The post IRA Rollover Mistakes and Exceptions: EDU #2542 appeared first on The Retirement and IRA Show.
Jim and Chris discuss a listener PSA on estimating early retirement benefits, followed by questions on Social Security benefit calculations and reductions, HSA held annuities, and IRA annuity pro rata rule application.
(14:45) George shares a PSA explaining how to input future earnings on the SSA site to better estimate early retirement benefits.
(25:15) A listener asks whether their benefit is funded by the Social Security trust fund and how to estimate their benefit if the trust fund becomes depleted.
(37:30) The guys respond to a question about a survivor benefit reduction due to a government pension and whether this reflects an error based on the GPO elimination.
(42:00) Jim and Chris weigh-in on the pros and cons of HSA held annuities to generate secure income.
(55:00) A listener wants to know how the pro rata rule applies when holding both an annuity inside an IRA and in a separate Roth IRA.
The post Social Security, HSA Held Annuities, IRA Annuities: Q&A #2541 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I are joined by Rear Admiral Brian Luther to discuss veterans benefits and military retirement planning. We explore how Navy Mutual supports service members, examine the survivor benefit plan, and talk about the role of annuities in managing longevity risk. Rear Admiral Luther also shares insights on TRICARE, VA health care, and the importance of financial literacy throughout a military career.
Jim’s “Pithy” Summary:
Chris (“Cowboy”) and I (“Bugs”) are thrilled to welcome Rear Admiral Brian Luther—better known on this episode as “Lex”—to discuss veterans benefits, military retirement planning, and the mission of Navy Mutual. Lex brings an incredible background to the conversation: he served as a naval aviator, commanded the George H.W. Bush on its maiden deployment, and ultimately became the budget officer of the entire U.S. Navy. Now, as CEO of Navy Mutual, he’s focused on protecting military families and promoting financial literacy—something that became personal to him after being sold a lousy product early in his career. That bad experience stuck with him, and it shows in how Navy Mutual approaches everything.
This episode covers a lot. We talk about how Navy Mutual came to be, the long-standing military tradition behind it, and how it provides life insurance and annuities without the exclusions and fees often found in commercial products. Lex gives a clear rundown of the Survivor Benefit Plan (SBP), how remarriage impacts SBP eligibility, and why spousal protection is so important. He also introduces their “RETIRE” acronym—risk, education, taxes, investment, retirement, and estate planning—and how those areas guide service members through their financial journey.
We explore how military retirees can use VA health care and how that fits—or doesn’t—with Medicare, TRICARE, and travel needs. Lex explains how Navy Mutual separates education from sales, offers no-commission policy reviews, and discloses actual embedded interest rates in their annuities—something almost no one else does. He also shares how annuities can be used as a risk-transfer tool to manage longevity and support retirement dignity, especially when paired with secure income sources like pensions and Social Security.
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Jim and Chris discuss listener questions on Social Security spousal benefits, a listener PSA on IRMAA repayment silence, IRMAA reduction eligibility and planning considerations, and a PSA on how 60-day rollover Roth conversions affect year-end RMD calculations.
(7:45) A listener points out a possible error from a recent episode and looks for clarification whether delaying benefits past full retirement age increases spousal benefits.
(19:15) George shares a PSA about his ongoing wait for clarity regarding IRMAA repayment adjustments from 2021 and 2022.
(28:30) Jim and Chris respond to a listener wondering whether their limited consulting income and work stoppage qualify for IRMAA relief, and what documentation would be needed. The listener also seeks feedback on using a late-year Roth conversion to create a flexible cash flow account for future planning.
(1:01:00) The guys share a PSA-ish “question” on the nuanced issue around year-end Roth conversions and RMD calculations—specifically, whether funds moved via a 60-day rollover for conversion purposes need to be added back into the December 31 IRA balance when determining required minimum distributions.
The post Social Security, Roth Conversions, RMD Calculations: Q&A #2540 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I return for an EDU dialogue episode focused on a listener’s delay period strategy. His plan includes laddered CDs, equity ETFs, delayed Social Security, and Roth conversions. We use his plan to discuss bracket drift, spending liquidity, and how rising markets can complicate a fixed glidepath. We also cover the tax planning window, crossover risk, and why even strong plans need regular adjustments—especially when they rely on assumptions that may not hold up year to year.
Jim’s “Pithy” Summary
Chris and I are back with an EDU dialogue show, and this one is a deep dive inspired by a listener who shared what he calls a simple delay period strategy. Honestly, I like a lot of it. He’s got a plan. He’s doing Roth conversions, delaying Social Security—all good stuff. He’s even laddered out CDs to fund his Minimum Dignity Floor and his Go-Go fun. That’s great—until you read the line that made me pause: “when the markets rise.” Not “if the markets rise.”
And what if they don’t rise? What if your equity side’s down and your CDs aren’t enough? Now you’re spending from equities when you didn’t want to. Suddenly, the conversion you were planning that year? You can’t do it as planned without jumping to a higher bracket. So, do you cut back on spending or on your planned conversion? That’s how these things fall apart.
He’s got structure, he’s got glidepaths, he’s even adjusting the ladder year by year. But don’t assume growth will keep bailing you out. If you do and markets stall, your whole glidepath strategy starts to crack. And as Jacob and I just talked about at lunch—Go-Go money is tough. You don’t know if someone’s going to call and ask for money for a dream vacation or a home remodel and we’ve got to build with that in mind. We also explain why I call it spending liquidity. Liquidity isn’t enough. You need cash you can actually spend without penalties, volatility, or surprise taxes. That’s what makes this kind of planning work.
The post Delay Period Strategy: EDU #2540 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security disability, dependent benefits for an adult child, a 60-day rollover nuance, inherited IRA RMD rules, and a deferred income annuity strategy.
(15:00) George asks whether his brother, who is on SSDI and will transition to retirement benefits at 67, can suspend and restart his benefit to grow it until age 70.
(27:30) The guys address how the family maximum affects benefits when one child ages out, whether a disabled adult child’s status remains unchanged, and what impact spousal and survivor benefits may have on future payments.
(43:15) Jim and Chris review a listener’s experience with a 60-day rollover where an RMD calculation excluded funds rolled back after year-end.
(58:00) A listener asks how RMDs are determined when his aunt inherits an IRA that had previously been inherited under pre-SECURE rules.
(1:14:00) Georgette considers purchasing a deferred income annuity in her IRA to cover future RMDs and guaranteed income needs and wonders if her strategy has flaws.
The post Social Security, 60-Day Rollover, Inherited IRA, and Deferred Income Annuity: Q&A #2539 appeared first on The Retirement and IRA Show.
This week, with Jim away at a conference, Chris is joined by Jake for an EDU episode that takes the shape of a Q&A, focusing on tax planning strategies. The guys cover a series of emails that highlight how different tax rules and opportunities intersect with retirement planning, income management, and financial decisions.
(10:30), the first question explores how the new OBBB changes—particularly the $40,000 SALT deduction and $6,000 senior deduction—are affecting Roth conversion strategies. Chris and Jake break down who might benefit from larger conversions, who may want to scale back, and how the extension of lower tax brackets plays into long-term planning.
(26:45), a listener with high health care costs asks what qualifies for deduction, how the 7.5% AGI threshold works, and whether items like chiropractor visits and insurance premiums count. The guys walk through the rules, the limits, and which expenses can make a difference.
(39:00), the third question looks at the backdoor Roth. A “long-lost” 401(k) rolled into an IRA raises concerns about the pro rata rule and whether it threatens the clean execution of annual conversions. The guys explain how to handle the rollover and keep the strategy on track.
(49:45), tax-loss harvesting and the wash sale rule take center stage. The listener wants to know how dividend reinvestments across different accounts might complicate reporting and whether timing strategies can keep things clean. Chris and Jake lay out how the rule works and what to watch for.
(1:02:45), a self-employed listener asks if funding a solo 401(k) before converting to Roth could save self-employment tax. The guys explain the mechanics, the limits on employer contributions, and the modest but real savings this tactic may offer.
The post Tax Planning Strategies: EDU #2539 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on IRMAA reductions and Roth-conversion effects, widow filing status and IRMAA, in-kind stock Roth conversions and RMD transfers, annuity RMD interactions, and 60-day rollover mail timing.
(7:45) George asks whether an approved SSA Form 44 that reduced 2025 IRMAA will also govern next year, how a large 2026 Roth conversion will be trued up and affect future IRMAA brackets, and whether that conversion will cause higher IRMAA in multiple subsequent years.
(18:45) A listener wonders if a recently widowed spouse’s IRMAA in 2026 will reflect single status or remain based on the 2024 joint tax return.
(24:45) The guys ask whether in-kind stock Roth conversions change the stock’s tax basis inside a Roth and whether an in-kind RMD transfer to a brokerage establishes a stepped-up basis.
(49:45) Jim and Chris consider a hypothetical where an IRA annuity’s annual payout might be less than the RMD and what happens if the RMD exceeds the annuity payment.
(1:02:15) One listener argues that claiming a mailed check took longer than 60 days to arrive is implausible because USPS optical scans and Informed Delivery images could let the IRS verify delivery dates.
The post IRMAA, Widow Status, Roth Conversions, Annuity RMDs, and Rollovers: Q&A #2538 appeared first on The Retirement and IRA Show.
If you would like to skip over Chris and Jim chatting about a recent Colorado hail storm and Jim’s garden while he’s in Ohio, please skip to the 7:45 mark.
Article discussed in today’s show: https://www.kiplinger.com/retirement/retirement-planning/the-me-first-rule-of-retirement-spending
Chris’s Summary
I chat with Jim about a recent article regarding retirement planning and compare how the article approaches a number of concepts in a similar way to the way that we look at retirement planning here at the firm.
Jim’s “Pithy Summary”
Chris and I chat about a Kiplinger article that was sent over by a couple of our frequent podcast listeners to get our thoughts. I walk through some of the background on our unique approach to retirement planning including concepts like the Minimum Dignity Floor (MDF) and covering expenses with secure income rather than relying on a safe withdrawal style of approach. We weigh the seesaw between the younger you and the older you when it comes to spending in your youth versus saving in retirement.
The post Discussing An Article On Retirement Planning: EDU #2538 appeared first on The Retirement and IRA Show.
Jim and Chris discuss a listener PSA on WEP treatment for foreign pensions, followed by questions on Social Security strategies, benefit calculators, account consolidation, and MYGA selection.
(13:00) Georgette shares a PSA on how a lump-sum superannuation payout impacted WEP treatment under the POMs rule and led to a successful Social Security appeal.
(21:45) George outlines his family’s situation and asks if claiming Social Security now is the best strategy to activate child-in-care and DAC benefits.
(36:15) A listener asks which online calculator Chris previously recommended to determine the taxable portion of Social Security benefits.
(38:45) The guys address a question about whether the SSA benefit estimates shown at FRA and age 70 include COLA adjustments.
(43:30) Jim and Chris respond to a question about how different retirement plan components might be treated when considering account consolidation.
(56:00) A listener asks what criteria to use in MYGA selection, including how to evaluate insurers and what the minimum AM Best rating should be.
The post Social Security, Account Consolidation, and MYGA Selection: Q&A #2537 appeared first on The Retirement and IRA Show.
If you would like to skip over Chris and Jake chatting about Jake’s recent trip to Ireland you can go to 7:00.
Chris’s Summary
I am joined by Jake today, while Jim is traveling, to examine taxes in retirement. We look at why not all taxes belong in the Minimum Dignity Floor. We also consider the trade-offs between Roth conversions and IRMAA, and the role of a cash reserve during the delay period in protecting both essential and discretionary spending when markets move against you.
Jim’s “Pithy” SummaryWhile I’m traveling, Chris and Jake dig into taxes in retirement. The Minimum Dignity Floor comes up, and a lot of folks get part of this wrong. It’s about protecting the basics with secure income. Start dragging every tax expense into it and that’s when you end up purchasing annuities you don’t need.
Roth conversions and IRMAA can trip people up too. Skip the conversions and you dodge the tax bill for now—but that just means bigger RMDs and bigger taxes later. Convert more today and you feel the hit right away, sometimes with IRMAA stacked on top. There’s no move that makes it painless, and with larger portfolios IRMAA simply becomes part of life.
The delay period brings up that old 3% safe withdrawal. The problem is what it puts at risk when markets stumble. It’s not the basics that get cut first—it’s the Fun Number. That’s why Chris and Jake talk about keeping a moat. A pool of safe assets would give you the security and confidence to keep enjoying retirement even if the markets dip.
The post Planning for Taxes in Retirement: EDU #2537 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on surviving spouse Social Security benefits and Roth conversions, SSDI and pensions, the Social Security Fairness Act, managing large HSA reimbursements, and choosing between MYGAs and the TSP G Fund.
(7:45) George asks whether Roth conversions count toward the earnings test when planning to claim his surviving spouse Social Security benefits.
(26:30) A listener asks how SSDI interacts with pensions, how SSDI transitions to regular Social Security, and why SSDI can sometimes be higher.
(35:00) The guys address a listener’s point that repealing WEP and GPO also benefits immigrants with foreign pensions, not just government employees.
(44:45) Jim and Chris consider whether taking large HSA reimbursements could increase the risk of an IRS audit.
(52:00) Georgette wonders whether to move fixed income from the TSP G Fund into MYGAs, including questions on protection limits and rate comparisons.
The post Social Security, HSA Reimbursements, and MYGAs: Q&A #2536 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I look at behavioral finance in retirement planning, noting that spending from secure income feels safer while drawing from assets feels like a loss. People resist balances going down after decades of saving, even though the money was built to be spent. We highlight how framing savings as deferred spending and covering the Minimum Dignity Floor with income addresses uncertainty, complexity, and the tendency for retirees to underspend.
Jim’s “Pithy” Summary
Chris and I dive into two listener-sent pieces — a Kiplinger’s article and a research report from Blanchett and Finke — and they line up perfectly with what we’ve been saying for years. Folks, this is behavioral finance! Retirees spend Social Security, pensions, and annuity checks with ease, but hesitate to touch their own savings. I call it the bottomless cup of coffee: when the pot keeps getting refilled, you drink. When it’s just a thermos, you guard it and leave joy on the table.
We also get into how framing makes all the difference. Too many people see their IRA as wealth to preserve instead of deferred spending to use. That’s why Required Minimum Distributions suddenly feel like permission slips — people spend because they think they’ve been told they can. And while loss aversion is real, taxes push those same buttons too.
This is why we push to cover the Minimum Dignity Floor with secure income. If food, utilities, transportation, housing, and healthcare are guaranteed, you take uncertainty and complexity off the table. That’s what gives you the confidence to pursue your Fun Number, knowing the basics are covered and you can spend without second-guessing every dollar.
Show Notes:
Blanchett and Finke Report
The post Behavioral Finance in Retirement Planning: EDU #2536 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security timing rules, retroactive benefits for an ex-spouse, investment strategy philosophy, fraternal benefit societies, and Roth conversions.
(6:30) The guys address a listener’s question about whether applying for Social Security at 70 requires enrolling in Part B or if retroactive filing is an option without losing payments.
(16:00) A listener asks why their 75-year-old father was denied six months of retroactive spousal benefits while a widowed friend who applied at the same time received them.
(33:30) Jim and Chris respond to a listener who questions the “You won the game, why take the risk” from a previous episode and asks whether a high-equity portfolio still makes sense.
(53:00) The guys respond to a listener’s email about fraternal benefit societies that operates outside guaranty associations.
(1:12:00) Georgette asks whether converting to a Roth and then spending from it makes more sense than other withdrawal options.
The post Social Security, Risk Philosophy, Fraternal Benefit Societies, Roth Conversions: Q&A #2535 appeared first on The Retirement and IRA Show.
If you are not in the mood for Jim and Chris’s delightful banter, you can skip ahead to (5:45).
It should be noted that of all the episodes to start sharing that information, it’s the one in which Jim said “we didn’t even banter!”. But, from now on, right here before the guys’ summaries you can find the timestamp to jump ahead to if you want to get to the meat of the show.
Chris’s Summary
Jim and I continue working through Ed Slott’s advisor quiz. After introducing the mandatory Roth catch up rule last week, we now focus on how W-2 wage definitions determine who’s affected, which plan types are exempt, and how administrative delays impact implementation. We also clarify rules around QCDs from inherited IRAs and debunk common errors made by ChatGPT when interpreting the 60-day rollover rule and plan eligibility.
Jim’s “Pithy” Summary
Chris and I keep going with the Ed Slott quiz, diving deeper into how the mandatory Roth catch up rule will actually work when it takes effect. We go through how wages are defined for this purpose—specifically Box 3 of the W-2, not Box 1—and why that matters for who’s subject to the rule. That single detail creates big carve-outs for groups like self-employed individuals and many state or local government employees who don’t pay into Social Security. We also highlight how a plan’s design matters. If your employer doesn’t offer a Roth option and you’re over the wage limit, you won’t be allowed to make catch up contributions at all. And we explain how the one-year look-back works, including why a job change can give someone a temporary exemption.
ChatGPT joins us again and gets several key questions wrong—like saying the rule applies to SIMPLE IRAs (it doesn’t), or insisting QCDs can’t come from inherited IRAs. Wrong again. If the beneficiary is over 70½, QCDs are allowed, and the IRS has even designated a code on the 1099-R for that exact scenario. Once it thought a little harder, Chat backed off and conceded. Smack talk retracted.
We close with a scenario on the 60-day rollover rule—what happens if a distribution check shows up while you’re out of town for months. Chat claimed the clock starts when it hits your mailbox. But that’s not how it works. According to private letter rulings, the 60-day window starts when you actually receive the check.
The post Roth Catch Ups and the 60-Day Rollover Rule: EDU #2535 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security retroactive payments and delayed retirement credit timing, share a listener PSA on horse speed, and answer questions on fixed indexed annuity default credits, a living benefit rider with a proprietary index, and RMD rules for an inherited account.
(15:45) A listener asks if the lack of a prior formal application affects eligibility for retroactive spousal benefits following the GPO repeal.
(27:30) The guys address a question about how delayed retirement credits are calculated based on specific months and what to consider when not claiming exactly at full retirement age or 70.
(37:45) Georgette shares a PSA on an earlier episode’s horse speed discussion.
(44:00) A listener seeks clarification on how a fixed indexed annuity with withdrawal benefits might outperform a DIA, particularly how default credits and fees interact.
(1:07:30) Jim and Chris respond to a listener who shares details about their nationwide annuity with a living benefit rider, its performance, fees, and expected income stream.
(1:25:45) George asks whether RMD rules for an inherited account require a distribution in the year of his mother’s death, despite the Vanguard calculator indicating otherwise.
The post Social Security, PSA, Annuities, RMD Rules: Q&A #2534 appeared first on The Retirement and IRA Show.
Chris’s SummaryJim and I review catch up contributions across IRAs and workplace plans using questions from the Ed Slott training quiz. We clarify the $1,000 IRA catch up (now indexed), explain the age 60–63 super catch up in 401(k)/403(b) plans, and outline the Roth mandate that will require high earners’ catch ups to go to the Roth side. I focus on what’s actually changing and where these rules create practical planning tradeoffs.
Jim’s “Pithy” SummaryChris and I dig into the latest Ed Slott quiz, focusing heavily on catch up contributions and how Secure Act 2.0 continues to reshape the rules. We start by clarifying what’s true and false about the standard catch up, then dive into the new super catch up available between ages 60 and 63. I explain why I find this provision frustrating, since adding a few thousand dollars so late in the game hardly moves the needle compared to what earlier compounding could have achieved.
And here’s the part that drives me nuts: Congress pats itself on the back for giving people in their 60s this special window, but where was that option decades earlier when it really mattered? If you let someone in their 30s or 40s make bigger contributions, you give compounding time to actually do its job. Instead, they created a rule that looks generous but, in practice, is mostly symbolic.
From there, we tackle the Roth mandate for higher earners. If your wages exceed the threshold, your additional catch up dollars must go into the Roth side of the plan. That’s going to be a big surprise for many workers who are used to putting everything pre-tax, especially in higher-cost states where salaries above the threshold aren’t unusual. The upshot is that many workers in this situation will find their catch up contributions directed into a Roth account, which takes away the immediate deduction but allows those dollars to grow and be withdrawn tax-free later in retirement.
The post Catch Up Contributions: EDU #2534 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security spousal benefits, filing logistics and spousal eligibility with a disabled child, an inherited Roth IRA, and IRMAA concerns.
(14:30) A listener asks why his spouse’s Social Security spousal benefit is less than half of his primary benefit amount.
(21:45) George asks about the process and documentation needed when filing for Social Security benefits that will also increase payments for his spouse and disabled adult son, and about eligibility for a spousal benefit while delaying his own claim.
(40:30) The guys review a ChatGPT summary of Inherited Roth rules and whether there are RMDs for a non-spouse beneficiary that inherited in 2023.
(1:03:30) Jim and Chris address a question about an IRMAA increase caused by a lump-sum Social Security payment.
The post Social Security, Inherited Roth, and IRMAA: Q&A #2533 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I continue discussing funding discretionary spending in Robert Merton’s three bucket retirement income framework from last week’s article, focusing on how his flexible and aspirational spending categories compare with our philosophy. We explore why annuities are insurance products, where TIPS fit into income planning, and why funding Go-Go years demands liquidity and principal protection. The conversation also examines how Minimum Dignity Floor expenses differ from discretionary goals and why tying those goals to high-risk investments can be problematic.
Jim’s “Pithy” Summary
Chris and I pick up where we left off last week, taking a closer look at Robert Merton’s second and third retirement income “buckets” and how they’re presented in the article we’ve been dissecting. While I can see value in some of the thinking, I have a hard time with the notion that your passions and big adventures should be considered optional spending that you cut when markets turn. These Go-Go years don’t last forever, and I’m not about to tell someone to shelve an elk hunt, delay a trip to see family, or skip the project that brings them joy because of a short-term dip. That’s not my idea of funding discretionary spending.
We also look at the tools Merton and the article highlight for flexible spending—TIPS, for example—and how those compare with keeping your discretionary funds liquid and principal-protected. On paper, some of these options sound flexible, but real life rarely plays out as neatly as a model suggests. If the market timing works against you, that “flexibility” can disappear fast.
Then we’ll get into the aspirational spending—the so-called extras—and the suggestion to tie them to higher-risk assets. We share our thoughts on matching the right investments to the right spending, why emotional comfort matters in retirement planning, and how your Go-Go years deserve a funding approach that lets you enjoy them while you can.
The post Funding Discretionary Spending: EDU #2533 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions on Social Security timing strategies, Roth conversions in an RMD year, annuity return calculations, account sourcing for SPIA purchases, and Rule of 55 withdrawal rules.
(12:30) A listener asks whether his brother should delay claiming Social Security to age 70 for better longevity protection despite a narrow breakeven.
(35:15) George asks if he can complete a Roth conversion before taking his first RMD and when a QCD would fit in that sequence.
(58:15) Jim and Chris respond to a question on how to calculate the return on a lifetime income annuity.
(1:11:15) The guys address which account—IRA, Roth, or brokerage—is best for funding a future SPIA purchase.
(1:19:45) A listener asks if they can take penalty-free withdrawals from a previous 401(k) under the Rule of 55 while working elsewhere, and whether the rule would apply to both plans after leaving the current job.
Show Notes:
This is from the IRS final RMD regulations:
(f) Determination of whether a distribution is a required minimum distribution —(1) Determination for calendar year of distribution. Except as provided in paragraphs (f)(2) and (3) of this section, if a minimum distribution is required for a calendar year, then the amounts distributed during that calendar year are treated as required minimum distributions under section 401(a)(9) to the extent that the total minimum distribution required under section 401(a)(9) for the calendar year has not been satisfied (and accordingly, those amounts are not eligible rollover distributions). For example, if an employee is required under section 401(a)(9) to receive a minimum distribution for a calendar year of $5,000 and the employee receives a total of $7,200 in that year, the first $5,000 distributed will be treated as the required minimum distribution and will not be an eligible rollover distribution, and the remaining $2,200 will be an eligible rollover distribution if it otherwise qualifies. If the total section 401(a)(9) required minimum distribution for a calendar year prior to the calendar year of the distribution is not distributed in that calendar year (for example, when the distribution for the calendar year in which the employee reaches the applicable age is made on April 1 of the following calendar year), then the amount that was required to be distributed, but not distributed, is added to the amount required to be distributed for the next calendar year in determining the portion of any distribution in the next calendar year that is a required minimum distribution (and, thus, is not an eligible rollover distribution).
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Chris’s Summary
Jim and I review a recent article featuring Robert Merton’s views on retirement income versus savings, using it as a springboard to unpack income planning fundamentals and annuity projections. While we agree with many of Merton’s framing points—especially the focus on secure income—we also note several key areas where academic theory diverges from real-world retirement dynamics.
Jim’s “Pithy” Summary
Chris and I dig into an article summarizing Nobel Prize winner Robert Merton’s take on retirement income, and I must say—it gave us plenty to talk about! We agree with the premise: retirement is about income, not just a pot of savings. But as always, I’ve got thoughts. Merton’s framing—that income matters more than assets—misses how closely tied the two actually are. You can’t generate income without savings, so they’re not distant cousins—they’re spouses, hand in hand!
We also explore his idea of guaranteed income and how it relates to our own Minimum Dignity Floor approach. His categories echo ours—he starts with guaranteed essentials like food, housing, and healthcare. Sound familiar? He even lists sources like Social Security, pensions, and annuities. But when he suggests a 3% inflation-adjusted annuity from a “highly rated insurer”? Well, good luck finding one. Those vanished after COVID. Today, most annuities with inflation protection are just fixed increases—and even those come at a steep cost.
That leads us into a deep dive on how we handle inflation during the delay period. I explain why projecting future income shortfalls isn’t about guessing—it’s about monitoring trends and setting up flexible reserves. Chris walks through how we model that gap using actual quotes from insurance companies to estimate how much a future retiree might need. Do we recommend buying now? Nope. We wait. Because retirement plans need recalibration every few years— and they’re far more effective when you understand the math and monitor the risks over time.
Show Notes:
Article: Why Retirement Income is More Important than Retirement Savings
The post Retirement Income Versus Savings: EDU #2532 appeared first on The Retirement and IRA Show.
Jim and Chris discuss Jim’s relocation experience to Ohio, a listener PSA on Medicare, questions about Social Security payment timing and divorce eligibility, Roth 401k withdrawals under the rule of 55, and close with an annuity comparison answer so long it practically qualifies as a mini EDU.
(17:00) A listener PSA reminds others that Medicare Part A only covers hospital costs and that Parts B, C, and D must still be actively enrolled in.
(24:30) A listener asks whether it’s normal for his Social Security payment date—initially based on spousal benefits—to remain the same after switching to his own record.
(31:45) Georgette asks what Social Security benefits she might be eligible for after divorce, given she’s receiving Disability and will have been married 11 years.
(39:15) Jim and Chris offer clarity on how the rule of 55 applies to Roth 401k withdrawals and confirm whether earnings would be taxable before age 59½.
(55:30) George asks whether it’s better to use a fixed indexed annuity (FIA) with living benefits or a deferred income annuity (DIA); the guys break it down in an extended segment that might even earn you CPE credit.
The post Ohio, Medicare, Social Security, Roth 401k, and Annuities: Q&A #2531 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I are joined by Matt Kaufman, Senior Vice President and Head of ETFs at Calamos Investments, to discuss buffered ETFs vs stocks and cash, focusing on AQR’s recent critiques. We examine the flaws in AQR’s methodology, the broader history of buffered products, and why these tools can offer certainty in retirement planning. Matt explains how buffered ETFs differ from accumulation strategies and why they may suit specific roles in a distribution-focused portfolio. We also touch on annuity comparisons and institutional adoption by endowments.
Jim’s “Pithy” Summary
Chris and I welcome back Matt Kaufman from Calamos Investments to talk through the controversy around buffered ETFs. AQR recently published two articles criticizing these tools, and I had some questions—not just about their numbers, but about their motives. If you understand how we use buffered products, especially in retirement distribution, you’ll see why I don’t think these critiques hold up.
We talk about the emotional side of retirement—how people freeze up when they’re supposed to start spending. My dad warned me about the Debbie Downers in his assisted living facility: folks who had money but waited too long and couldn’t spend it anymore. That’s why we look at buffered ETFs as a way to give retirees confidence, not as accumulation tools. When I saw AQR lumping these products together and treating them like they were all the same, it reminded me of the way Ken Fisher says “I hate annuities and so should you.” That kind of broad-stroke bashing doesn’t help anyone.
Matt walks through the technical flaws in AQR’s analysis—especially how they mischaracterized equity exposure and ignored how buffered ETFs are actually used. We compare them to annuities, explain cap rates, and look at why institutions like the University of Connecticut are dropping hedge funds for these products. There’s more nuance here than some people want to admit, and it’s worth taking the time to understand how these work—especially if you’re in retirement and trying to protect the money you spent 40 years building.
Show Notes:
For those who would like to read the AQR articles discussed in this episode you can find them here:
https://www.aqr.com/Insights/Perspectives/Rebuffed-A-Closer-Look-at-Options-Based-Strategies
https://www.aqr.com/Insights/Perspectives/Buffer-Madness
The post Buffered ETFs vs Stocks and Cash: EDU #2531 appeared first on The Retirement and IRA Show.
Chris is joined by Jake and Jacob to answer listener questions on Social Security, followed by a PSA about unexpected Social Security payment timing, then additional questions on transition planning, asset positioning across account types, weighing Roth conversions against the senior deduction, and planning around IRMAA.
(6:15) George asks what percentage of taxes he should have withheld from his 2025 Social Security income if that is his only source of income.
(22:45) A listener PSA describes how their spouse’s first Social Security payment arrived earlier than expected and shares a 40-day approval timeline.
(29:45) Chris and the Jacobs respond to a question about transition planning focused on protecting principal before retirement and enabling Roth conversions by age 70.
(53:45) A listener seeks guidance on how to position retirement assets across multiple account types when it’s not yet clear which accounts spending will come from.
(1:02:45) The guys consider how a single filer should weigh the value of Roth conversions against maintaining low income to maximize the senior deduction before RMDs begin.
(1:07:00) Georgette outlines her plan to limit Traditional IRA withdrawals to avoid IRMAA and asks whether it’s better to spend from the Roth or take higher withdrawals and accept IRMAA.
The post Social Security, Transition Planning, Positioning, Roth Conversions, IRMAA: Q&A #2530 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I explain living benefits on annuities, covering how guaranteed income riders work and why they can appeal to those hesitant to annuitize. We describe what we call noun annuities (pre-annuitization) and verb annuities (post-annuitization), then unpack how living benefit riders like guaranteed minimum withdrawal benefits provide income without giving up access to principal. We also discuss what we refer to as the “pretend account,” alongside actual account balances and the significance of guaranteed versus hypothetical projections.
Jim’s “Pithy” Summary
Chris and I finally deliver the long-promised show on annuity living benefits! After wrapping up Annuity Awareness Month, we realized this topic still needed its own deep dive—so here it is. I explain how living benefits evolved from death benefits to guaranteed accumulation and now to income riders that let you turn your noun annuity into a verb without actually doing so. Why? Because people hate the verb! They don’t want to give up their lump sum—they want to “keep a noun a noun,” as I say—and still get some income out of it.
We also talk about the trickery behind what I call “pretend accounts”—those “mystical magical” numbers insurance companies use to calculate your guaranteed income while your real account shrinks from fees. I explain how the ten percent growth you’re promised isn’t on your actual money—it’s on that “pretend account.” And yes, your fees? Those are based on the “pretend account” too, not your real balance. It’s all sizzle, no steak for most people—unless you’re like me and you’re actually using the income. I share that I own one of these riders myself, but only because the guaranteed income benefit made sense for my Roth IRA.
Bottom line: these products aren’t always terrible. If you know you want income and you understand what you’re paying for, some of these living benefit riders might actually make sense—even after you account for the outrageous fees. But the key is understanding what you’re buying and not falling for a hypothetical illustration that doesn’t tell you what you’re actually getting.
The post Living Benefits on Annuities: EDU #2530 appeared first on The Retirement and IRA Show.
Chris and Jake address listener questions on Social Security, single premium immediate annuity (SPIA) taxation, IRMAA impacts from NQDC payments, and Roth conversions.
(9:45) George asks whether the restricted application strategy for Social Security spousal benefits is still possible, and if so, whether birth year requirements apply, along with what changed after the 2015 law change.
(22:15) The guys share a PSA about a listener’s experience with the Social Security application process, explaining how failure to submit a marriage certificate caused delays when applying for spousal benefits.
(31:00) A listener asks whether untaxed tip income affects the amount of Social Security benefits a worker may receive in retirement.
(36:00) Georgette asks whether SPIA payments purchased using Traditional IRA funds are considered taxable income for life.
(45:15) A listener asks if ongoing NQDC payments will be included in MAGI calculations and impact IRMAA.
(55:30) Chris and Jake discuss whether taxes owed from a Roth conversion can be paid when filing taxes the following year, or whether quarterly payments are required to avoid penalties.
(1:09:15) A listener asks whether living in a state that exempts Social Security from state taxes should impact Roth conversion planning.
The post Social Security, SPIA Taxation, IRMAA, Roth Conversions: Q&A #2529 appeared first on The Retirement and IRA Show.
Jim and Chris answer listener questions on Social Security filing and its effect on HSA eligibility, Social Security means testing, the timing of annuity purchases in IRAs, the Roth and Roth TSP 5-year rule.
(7:30) Georgette asks whether the six-month Medicare Part A lookback is triggered by her husband’s Social Security application date or benefit eligibility date, and how that affects HSA contributions.
(22:45) A listener worries about possible future Social Security means testing for those who are past full retirement age but not yet claiming.
(36:30) George questions whether buying a Fixed Indexed Annuity inside an IRA is problematic if RMDs begin before maturity and whether turning on a living benefit might help him spend more.
(56:00) Jim and Chris weight in on an office debate on the Roth conversion 5-year rule.
(1:05:55) The guys clarify the Roth TSP 5-year rule and whether the clock resets when transferring to a new Roth IRA.
The post Social Security, Annuities, Roth and Roth TSP 5-Year Rule: Q&A # 2528 appeared first on The Retirement and IRA Show.
Chris’s Summary
I am joined by Jake and Paul to discuss OBBBA tax changes and retiree impacts from the Inflation Reduction Act. We cover changes to brackets, deductions, personal exemptions, and estate limits. Paul explains how new SALT caps, Social Security deductions, and ACA credit rollbacks affect planning opportunities for retirees, especially those near income phaseouts or considering Roth conversions and business deductions.
Jim’s “Pithy” Summary
Chris, Jake, and Paul talk through a range of retiree-focused updates, including several OBBBA tax changes and provisions from the Inflation Reduction Act. These aren’t just technical adjustments—they have real planning implications, especially for people navigating income limits, deductions, and benefits.
They cover updates to itemized deductions, new limitations for higher earners, and what’s changing with the lower tax brackets and standard deduction. Paul walks through how these changes might help—or get phased out—depending on your situation. There’s also a new personal exemption for those over 65 that sounds straightforward but includes some cutoff points retirees need to know about.
The Social Security deduction comes up too, and it’s not what most people think. Paul clears up who qualifies and how it works. They also talk about the rollback of enhanced ACA premium credits and how enrolling in Medicare affects HSA eligibility. Some of the rules people have counted on in the past won’t function the same going forward.
They touch on other updates as well—charitable giving, estate and gift exemptions, even vehicle loan interest. Not all of it applies to everyone, but plenty of retirees could be caught off guard by the fine print.
The post OBBBA Tax Changes Explained: EDU #2528 appeared first on The Retirement and IRA Show.
Jim and Chris answer listener questions on Social Security family maximum rules, spousal and disabled child benefits, defined benefit pension concerns, and 401k managed payout funds.
(7:45) A listener is trying to understand how the Family Maximum Benefit might reduce the amounts paid to his spouse and disabled adult child once he claims his own retirement benefit.
(16:45) Jim and Chris respond to a listener who has a disabled son and is planning to claim a spousal benefit based on his wife’s record. He asks how the family maximum could affect his son’s eligibility for SSDI and future Medicare access.
(30:00) George asks for input on whether to take monthly payments or a lump sum from his pension weighing the potential risks if the company eventually transfers the pension to an insurance company.
(49:00) The guys address a question about a “Managed Payout” fund offered in a 401(k) plan and whether this might be a good way to generate retirement cash flow compared to annuities.
The post Social Security, Pension Buyouts, and Managed Payout Funds: Q&A #2527 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I examine broker vs advisor sold RILAs using real cap rate comparisons from 2024 to highlight how identical contracts can offer different outcomes. We explain how six-year outcome periods work, what locking in gains actually does, and when fees can reduce returns more than commissions. This episode is less about product bias and more about understanding the trade-offs between access, structure, and transparency in how these annuities are priced and delivered.
Jim’s “Pithy” Summary:Chris and I return to RILAs because, well, June wasn’t enough! We had more to say—especially about the quirks of six-year outcome periods and how they affect investor expectations. A listener email pointed out that clients often get emotionally attached to growing RILA balances, forgetting that those numbers aren’t locked in until the full term ends. That’s especially true with longer terms like six years, where market swings can reverse paper gains. We explain how this can lead to misunderstandings about what’s really protected—and when.
We also dig into the mechanics of locking in gains early. Some RILAs let you reset into a new term right away, while others force you into a cash-style holding account until the original term ends. That difference can make or break your returns. And if you’re thinking “buffered ETFs already do this,” you’re right—we talk about that too.
But the real highlight today is the cap rate comparison between broker vs advisor sold RILAs. Same insurance company. Same date. Same indexes. And yet, in multiple examples, the commission-based version offered meaningfully better cap rates—even after accounting for advisor fees. In one case, the broker version had a 60% cap while the advisor version capped at 30%. So much for the narrative that fee-only automatically means better. It’s a great reminder that both commissions and fees are just compensation structures—and neither tells you whether a product is actually better for the client.
The post Broker vs Advisor Sold RILAs: EDU #2527 appeared first on The Retirement and IRA Show.
Jim and Chris shares listener PSAs on IRMAA and Delayed Retirement Credits, and answer questions on Social Security Spousal Benefits, annuity use cases, and fixed indexed annuity payout concerns.
(13:00) A listener shares a PSA about a positive Medicare and IRMAA reduction experience at a Central Florida SSA office.
(19:00) Georgette follows up with a PSA confirming her husband received all delayed retirement credits despite a February 1 birthday.
(26:45) George asks whether his wife will be automatically moved to a spousal Social Security benefit when he files, or if she needs to apply separately.
(37:45) Jim and Chris provide clarification on what problems different types of annuities are designed to solve and when each might be used.
(1:03:45) The guys address a listener’s concerns about a specific fixed indexed annuity, asking whether a MYGA or money market alternative would offer better long-term value.
The post PSAs, Spousal Benefits, Annuity Use Cases, and FIAs: Q&A #2526 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I explore registered index-linked annuities and compare RILAs vs buffered ETFs across liquidity, taxation, and cap rate dynamics. We walk through how the insurance and investment structures differ, where principal protection varies, and how commission-based and advisory products compare from a fiduciary standpoint. I also explain the tax treatment of qualified versus non-qualified annuities and why IRD status matters when evaluating options for legacy planning.
Jim’s “Pithy” Summary:
Chris and I dig into RILAs—Registered Index-Linked Annuities—and boy, do these things get pushed hard. They’re the lovechild of fixed indexed annuities and variable annuities, designed to sit in the middle of the risk spectrum. I call them the insurance industry’s answer to buffered ETFs and structured notes. The appeal? Some downside protection, some upside potential, and growing popularity with both brokers and RIAs.
But here’s the kicker: the same annuity from the same insurance company can have wildly different cap rates depending on whether it’s sold by a broker (commission-based) or an investment advisor (fee-based). I’ve seen broker-sold versions offer higher cap rates than advisory versions—even after paying a commission! That’s why I harp on this: if you’re considering one, you’ve got to compare both sides of the distribution channel. Otherwise, you might end up paying an advisor 1% a year and getting less upside than if you’d bought it through a broker. It also pays to compare RILAs vs buffered ETFs with regard to taxation, liquidity, and advisor compensation. These all factor into whether these products make sense.
I’m not anti-RILA. They can be compelling—especially in IRAs where the tax downsides of non-qualified annuities don’t bite as hard. But outside retirement accounts, the tax treatment stinks: no step-up in basis, income taxation, IRD status—it’s a mess. So, if you’re going to lock up your money, know exactly what you’re giving up in liquidity and tax flexibility. And for heaven’s sake, check those cap rates side-by-side!
The post RILAs vs Buffered ETFs: EDU #2526 appeared first on The Retirement and IRA Show.
Jim and Chris begin with three PSAs on Social Security experiences, then answer questions on fixed indexed annuities with market value adjustments, SPIA payout options for the Minimum Dignity Floor, and the tax aggregation rule for MYGAs.
(11:30) In this PSA Georgette clarifies that her husband, born February 1, received January benefits at full age 70, with payments starting at the end of January.
(19:45) A listener shares a PSA about their struggle recovering original documents from the SSA after submitting an IRMAA appeal and only getting help after contacting her senator.
(24:15) The guys read a PSA from a listener whose Social Security application was approved, but his first payment was withheld due to how he reported earnings; he later filed an appeal and was paid.
(36:00) George asks why the EDU episode on Fixed Indexed Annuities didn’t mention five-year FIAs with market value adjustments and no surrender fees, noting one issuer allows early access with interest rate risk.
(54:00) Jim and Chris address when they may recommend SPIAs with life-only vs. return of premium options, discussing how payout levels vary based on longevity risk-sharing.
(1:12:15) A listener asks whether a 1035 exchange into a different insurer’s MYGA can avoid the tax aggregation rule; Jim explains how proration works and why the trade-off might not be worth the hassle.
The post Social Security PSAs, FIAs, SPIAs, and MYGAs: Q&A #2525 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I continue our focus for Annuity Awareness Month by explaining how fixed indexed annuities work and the regulatory nuances that distinguish them from other fixed products. We walk through their structure, common misconceptions, when they can be appropriate, and how to compare them to MYGAs and buffered ETFs. We also highlight the motivations behind annuity recommendations in the financial services industry and the risks of proprietary index products.
Jim’s “Pithy” Summary:
With Annuity Awareness Month continuing through June, Chris and I wade into the world of fixed indexed annuities—what they are, how they work, and why they’re not universally good or bad. I explain how they use options to generate index-like returns, how the “fee is baked in,” and how they compare to MYGAs and the buffered ETFs Wall Street has been offering over the past five or six years. If you’re locking up your money for five or ten years, you need to understand what you’re getting—and what the person recommending it is getting too.
We also break down how advisory platform annuities are changing the landscape. Advisors who used to bash annuities now love them—because they can charge their AUM fee inside the annuity without holding an insurance license. But the one actually recommending the product and earning the commission? That’s the wholesaler, and they’re not a fiduciary. And while some moves might be justified, I’ve seen plenty that just don’t sit right. If someone’s trying to move you from one annuity to another, you’d better ask what you’re giving up—and what they’re getting in return.
I also share what I found digging into one of those so-called “uncapped” proprietary indexes. I used ChatGPT’s deep research tools and spent a good 45 minutes pulling disclosures apart—and what I found didn’t impress me. These indexes often skim returns off the top and bury fees most agents can’t explain. If you’re being sold one of those, do some homework. We’ll get into RILAs next week—because yes, I ran out of time.
The post Fixed Indexed Annuities: EDU #2525 appeared first on The Retirement and IRA Show.
Jim and Chris address questions on Social Security survivor benefits, unreimbursed HSA expenses, SPIA funding from multiple accounts, and Fixed Indexed Annuity details.
(7:45) Georgette asks whether drawing her own reduced Social Security benefit at 62 will affect her ability to switch to her deceased husband’s full survivor benefit at age 67.
(23:15) A listener follows up on an HSA discussion, asking whether reimbursing heirs with a shoebox of unreimbursed receipts is valid post-death, or if only unpaid bills qualify.
(33:00) The guys address a question about funding a SPIA when assets are distributed across various accounts like IRAs, Roths, and brokerage accounts.
(52:15) Jim and Chris respond to a listener who wants clarification on the features, surrender schedule, and commission of a fixed indexed annuity a friend recently purchased in his IRA.
The post Social Security, HSA Rules, SPIA Funding, and FIA Details: Q&A #2524 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I discuss annuity types and features during Annuity Awareness Month, focusing on immediate vs. deferred annuities and fixed vs. variable structures. We cover how each type works, what they offer, and where caution is warranted.
Jim’s “Pithy” Summary:
Chris and I continue our Annuity Awareness Month series by diving into the foundational aspects of annuities—what they are, how they work, and what to watch out for when buying one. We explain the four primary annuity types and features—immediate, deferred, fixed, and variable—and share why understanding the difference between a noun and a verb matters in this world. When you annuitize, that’s the verb; you’re locked in, and there’s no getting out. That’s why we call deferred income annuities a big commitment—once you’re in, there’s no divorce clause!
I share my concerns with the tax deferral hype, especially when annuities are held inside IRAs. Many folks mistakenly believe they’re gaining tax advantage, but in reality, they might just be compounding future tax headaches. We talk about how annuities can offer principal protection and guaranteed lifetime income—but not all annuities do both. And we dive into what happens if you die early or live long, covering things like period-certain options, cash refunds, and installment refunds.
We also walk through the origin of single premium immediate annuities as a modern-day answer to tontines—yes, those ancient, now-outlawed mortality pools where surviving members collected increasingly larger checks. Mortality credits are still alive and well, just repackaged into today’s SPIAs. And if you’ve ever been pitched a variable annuity with enhanced death benefits or living benefits, we explain how those work, what they really cost, and why you need to read the fine print. From mortality and expense fees to revenue-sharing subaccounts, there’s a lot going on behind the scenes.
The post Understanding Annuity Types and Features: EDU #2524 appeared first on The Retirement and IRA Show.
Jim and Chris answer questions on defined maturity bond ETFs, Social Security account linking and spousal offsets, 401k annuities vs IRA Annuities, and annuitization definitions.
(14:30) Jacob joins the guys to explain how estimated net acquisition yield works for defined maturity bond ETFs, including how to interpret it and evaluate risk when holding through maturity.
(38:30) A listener asks about sending a marriage certificate to Social Security for account linking and whether there’s any confirmation of linking on SSA.gov.
(44:15) George wonders whether his wife will automatically receive a spousal benefit increase once he claims Social Security at age 70, and how to confirm PIA and eligibility.
(52:30) Jim and Chris address a suggestion that annuities held inside 401k plans may be less tax efficient than IRA annuities because of RMD aggregation rules.
(1:06:45) A listener asks why so few annuities are annuitized and whether turning on income from a DIA or SPIA counts as annuitization.
The post Bond ETFs, Social Security, 401k Annuities, and Annuitization: Q&A #2523 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I kick off our annual Annuity Awareness Month series by explaining how using annuities in retirement planning can help manage longevity risk and provide guaranteed income. We cover when they’re worth considering, what they actually solve for, and how they might fit into a plan—if at all. We also explain why many people are skeptical of annuities and why, in many cases, that skepticism is justified.
Jim’s “Pithy” Summary:Chris and I launch our annual series for National Annuity Awareness Month with a foundational discussion on annuities: what they are, why they exist, and how we use them—sparingly but strategically—in retirement planning.
This episode lays out the key insurance roles of annuities: to protect against longevity risk and to provide principal guarantees. We explain the importance of matching secure income to the Minimum Dignity Floor, especially for clients who worry about running out of money or spending too little early in retirement. We also touch on the emotional and cognitive benefits of predictable income streams—what I call “bottomless cup of coffee” money. It helps people feel secure, simplifies decisions as we age, and eases the burden on a less-involved spouse.
We explore the history of how annuities got such a bad rap—some of it deserved, especially when the industry prioritized commissions and free dinners over client outcomes. I also share how my own financial education at Boston University drilled anti-annuity rhetoric into my head, even while praising the “three-legged stool” of Social Security, pensions, and savings. It made no sense: the annuity was the obvious substitute for the lost pension leg. If you’re a regular listener, you already know we’re not annuity salespeople, and we certainly don’t hate them either. We see them as tools, and just like dogs, you match the tool to the task. You wouldn’t take a bichon duck hunting, and a Chesapeake Bay retriever doesn’t belong in a carry-on crate. Same principle with annuities.
The post Annuities in Retirement Planning: EDU #2523 appeared first on The Retirement and IRA Show.
Jim and Chris answer listener questions on Social Security filing, a PSA on SSA’s online application process, the Roth 5-Year Rule, HSA strategy, and bond principal risk.
(8:00) A listener asks whether Social Security’s claim that delayed retirement credits aren’t applied until the end of the following year is accurate, and whether anyone receives them without persistent follow-up.
(29:15) The guys share a listener PSA with their experience applying for Social Security online and highlights the confusing communications around application status and approval timelines.
(18:15) George asks how and when to apply for Social Security if they want benefits to begin at age 70 and their birthday falls on the first of the month.
(35:45) Jim and Chris respond to a question about whether each Roth conversion has its own 5-year clock, even for someone over age 59½ with existing Roth IRAs.
(42:15) Georgette wonders how the Roth 5-Year Rule applies to non-spouse beneficiaries and whether it transfers from the original account holder.
(48:00) A listener shares their HSA strategy as a substitute for long-term care insurance, along with personal experience on how cafeteria plan deductions affected Social Security earnings.
(56:00) The guys explain whether bondholders risk losing principal at maturity when interest rates rise significantly.
The post Social Security Filing, Roth 5-Year Rule, HSA Strategy, and Bond Principal: Q&A #2522 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim, Jake, and I use this Dialogue EDU episode to explore how we approach flexible retirement spending. We respond to listener emails about DIY simplicity, budgeting for irregular expenses, and how we assign assets to spending needs. The conversation highlights why we prioritize adaptability over rigid withdrawal rules.
Jim’s “Pithy” Summary:
Chris, Jake, and I use this Dialogue EDU episode to explore what flexible retirement spending really looks like—beyond the spreadsheets and into the real-life tradeoffs people actually face. A few listener emails set the stage, from a DIYer aiming for simplicity to someone tackling unexpected home repairs, and another asking how we assign dollars to various spending needs across tax categories.
We take those as a jumping-off point to talk about the importance of structure without rigidity, and why having a plan doesn’t mean you need to over-optimize every detail. I share thoughts on safe withdrawal rates (you can guess where I land!), why the best-laid plans always get tested, and how people get in trouble when they assume retirement is just a math problem. Jake weighs in on building plans that bend instead of break, and Chris brings it all back to how our See Through Portfolio and 2-1-0 Tax Ordering Number provide enough order to make decisions—without painting you into a corner.
Along the way, I go on a bit of a tangent about why rules of thumb usually leave people stuck—especially if they’ve been good savers their whole life but have trouble flipping the switch to spending. We get into how why simple doesn’t always mean easy and how people can tie themselves in knots trying to make every move efficient. There’s a reason we keep coming back to flexibility: it’s the only way a plan actually holds up when life starts throwing curveballs!
The post Flexible Retirement Spending: EDU #2522 appeared first on The Retirement and IRA Show.
Jim and Chris answer listener questions on Social Security timing, the Earnings Test, nondeductible IRA basis, and the Roth 5-Year Rule.
(16:15) Georgette asks whether filing retroactively in December, with Social Security payments issued in January, ensures that all income—including the retroactive amount—will be reported on the following year’s tax return.
(28:00) A listener working in a State job who is eligible for a Social Security widow benefit asks whether large pre-tax contributions to 403(b) and 457(b) plans would reduce his earnings under the Earnings Test.
(42:30) The guys address whether IRA basis can be isolated from gains when converting a nondeductible IRA to a Roth.
(1:02:15) Jim and Chris respond to a listener seeking clarification on the 5-Year Rule for Roth IRAs, including how it applies to earnings distributions by original owners and non-spouse beneficiaries.
The post Social Security, IRA Basis, and Roth 5-Year Rule: Q&A #2521 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I are joined again this week by Kevin Sebesta from the Rock Retirement Club in this EDU episode. We explore what helps retirees start spending confidently—especially when markets are volatile or the saver mindset is hard to shake. Kevin shares how structure, support, and community all play a role, and why building confidence takes more than just having a solid financial plan.
Jim’s “Pithy” Summary:
Chris and I bring Kevin Sebesta back this week for round two, and this time we’re talking about what it really takes to start spending confidently in retirement. Kevin’s been retired for over a decade and now coaches others through the emotional messiness of it all—because let’s face it, knowing you “have enough” and actually feeling comfortable using it are two very different things.
We dig into how savers struggle to flip the switch, how things like the Fun Number and Minimum Dignity Floor can give people the permission they need to enjoy their money, and why building in a simple cash reserve might just be the difference between “Hey, let’s upgrade the cruise cabin” and “Let’s sit in steerage because the market dipped 8%.” We talk about community, support, peer influence (yes, even a little friendly shaming), and how watching other retirees live well can sometimes do more than a spreadsheet ever could.
Kevin shares some great anecdotes—including what happens when frugality runs too deep—and I get into my usual rants about emotional risk, the real cost of inaction, and why deferring fun until your 80s is a plan only a masochist could love. Retirement planning isn’t just about having a secure strategy—it’s about creating a life worth funding!
The post Spending Confidently in Retirement with Kevin Sebesta: EDU #2521 appeared first on The Retirement and IRA Show.
With Jim away at a conference, Chris is joined by Jake and Jacob to answer listener questions on child-in-care spousal benefits, the Earnings Test, HSA strategy, reconstructing cost basis, and Social Security timing concerns.
(6:00) A listener asks whether reaching full retirement age makes him ineligible for child-in-care spousal benefits, and what steps he can take to appeal the denial.
(21:30) George questions whether excess earnings prevent payment of family Social Security benefits when the worker’s own benefit is offset
(34:00) The guys address how inheritance and medical spending may influence HSA strategy and if it’s possible to overfund an HSA.
(50:00) “Chris and the Jacobs” respond to a couple trying to reconstruct the cost basis of mutual funds purchased in the 1980s without access to their records.
(1:02:15) Georgette wonders if divorce should be considered while deciding when a lower-earning spouse should claim Social Security, as well as whether pre-tax 401(k) contributions reduce reported earnings for benefit calculations.
The post Social Security, HSA Strategy, and Cost Basis: Q&A #2520 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I welcome Kevin Sebesta from the Rock Retirement Club in this Dialogue EDU episode to explore the retirement mindset and why preparing for life after work goes beyond just the numbers. Kevin shares lessons from his own journey and the broader retirement community about identity, purpose, and what makes a fulfilling transition.
Jim’s “Pithy” Summary:Chris and I welcome Kevin Sebesta to this Dialogue EDU episode for a conversation that veers off the usual technical path and gets into something trickier—the retirement mindset. Kevin’s a retirement coach and longtime member of the Rock Retirement Club, and he joins us to talk about the emotional challenges of leaving work.
Kevin shares lessons from his own early retirement and what he’s learned working with hundreds of other retirees—plus a few gems that made even me and Chris stop and think. We get into why so many savers have a hard time flipping the switch to spending, the tension between saving and spending, and how tools like the Fun Number can help reframe your mindset around using money for more than just security.
The post Exploring the Retirement Mindset with Kevin Sebesta: EDU #2520 appeared first on The Retirement and IRA Show.
Jim and Chris respond to listener emails on Social Security record accuracy, IRMAA repayment options, naming a Trust as an IRA beneficiary, and the Roth 5-year Rule.
(12:00) Georgette shares five important Social Security lessons from her family’s experience, prompting a PSA-style discussion on earnings record errors, divorce and remarriage rules, survivor benefit delays, and claiming strategies.(40:15) A listener offers a PSA about what happens if your IRMAA appeal lowers surcharges, but your income later exceeds expectations.(45:15) Jim and Chris address a question about naming a Trust as IRA beneficiary, discussing both how to complete a beneficiary designation form and how custodians title Inherited IRAs when a Trust is involved.(1:04:30) The guys weigh in on whether a Roth conversion to create a new account two days before the owner’s death must meet the Roth 5-year rule for beneficiaries to access funds tax-free.The post Social Security, IRMAA, IRA Beneficiary, and the Roth 5-Year Rule: Q&A #2519 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I take a step back in this Dialogue EDU episode to explore how we design retirement plans for again. We talk through common misunderstandings around projections, explain how our See Through Portfolio helps people navigate retirement with more confidence, and clarify how simplicity is built into the process.
Jim’s “Pithy” Summary:Chris and I use this EDU episode to have a dialogue on some of the feedback we’ve received about our planning approach. A few listener emails spark a broader discussion about how people interpret our process, where confusion creeps in, and how we intentionally design retirement plans for aging—plans that simplify as clients get older rather than becoming more complex. It’s not about right or wrong but how a retirement plan holds up when real-world questions come into play.
Along the way, I dig into why every projection is technically wrong (but why that doesn’t mean you shouldn’t do one!), how we use the law of large numbers to find planning value, and why the first few years of retirement are the hardest. I rant a bit about outdated bond assumptions, explain how our forward-looking returns are built, and revisit my old fog and boat analogies (yes, again). We talk about how retirement should get easier over time, how to protect your future self from cognitive decline, and why someday—even for all you hardcore DIYers—it might be worth hiring a firm like ours, as long as they’re not charging AUM fees. I even manage to tie it all together with a story about firewood. You’ve been warned!
The post Retirement Plans for Aging: EDU #2519 appeared first on The Retirement and IRA Show.
Jim and Chris are joined by Jake and Paul to discuss tax-related listener questions on IRA contributions from self-employment income, special needs trusts, year-of-death Roth conversions, Cost Basis, and IRMAA.
(9:00) George asks how QBI and self-employed health insurance deductions affect how much he can contribute to a traditional IRA.
(20:00) Jim, Chris, Jake, and Paul respond to a question about whether creating multiple special needs trusts can multiply the $5,000 federal tax deduction.
(28:00) The guys weigh in on a year-of-death strategy involving large Roth conversions and other planning considerations for a surviving spouse.
(49:45) A listener wants to know how Form 8606 helps during retirement and when its tracking of after-tax basis becomes useful.
(57:00) George asks what documentation the IRS will accept to establish a 2001 cost basis for inherited land now worth significantly more.
(1:07:45) The team evaluates whether Roth conversions make sense for a retiree already in the third IRMAA tier.
The post IRA Contributions, Special Needs Trusts, Roth Conversions, and Cost Basis: Q&A #2518 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I are joined once again by Jacob for the third and final part of our series on transition period strategy. This time, we focus on the practical side of asset positioning: how near-retirees can begin structuring spending reserves without overreacting to short-term volatility. We use an example case study to explain how to segment early retirement needs into time-based chunks, identify dollars that require principal protection, and distinguish between your Minimum Dignity Floor and Fun Number spending.
Jim’s “Pithy” Summary:
Chris, Jacob, and I finish up our series on positioning assets during what we call the Venn diagram years or transition period. That’s that murky overlap between accumulation and decumulation, where you’re not retired yet, but you’re gearing up to live off your savings. This week, we dig into a listener’s question—he’s five years out from retirement and feeling nervous about market drops. He doesn’t know when or how to start making changes.
So, we build a hypothetical case to show what this might actually look like on paper. I walk through how to start allocating dollars across time without trying to do everything at once (because that’s how people freeze up or make bad calls). Jacob jumps in to explain why we don’t just ladder investments, we build what we call a liquidity timeline—an approach that gives you structure and flexibility. I dig into recency bias, the emotional hang-ups that stop people from spending even when they can—and should. We talk through which dollars need principal protection, which don’t, and why timing matters. And then I get into buffered strategies, laterals, the illusion of statement dollars, and, of course, my ongoing beef with growth-focused asset managers who don’t understand the first thing about distribution planning.
The post Transition Period Strategy Part 3 – A Case Study: EDU #2518 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to Social Security spousal benefits, IRMAA relief, suspending Social Security for tax planning, and QCD timing with RMDs.
(3:00) A listener enquires whether her 85-year-old mother, who recently remarried, must remain on her ex-spouse’s record for one year before switching to spousal benefits on her new husband’s record.
(12:15) The guys address what happens if you file form SSA-44 for IRMAA relief but end up in a higher income tier than estimated.
(23:30) George asks to revisit a previous question about if suspending Social Security could allow for more Roth conversions and tax savings.
(34:30) Jim and Chris respond to a listener who challenges whether QCDs must be taken before RMDs.
Show Notes: QCD Timing Article by Lord Abbet
The post Social Security Benefits, IRMAA, and QCD Timing: Q&A #2517 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I are again joined by Jacob as we continue exploring transition period strategy—the years just before retirement when you’re not yet withdrawing but want to prepare. We cover how near-retirees can manage emotional reactions to volatility while positioning assets to support early retirement spending. For those using our Minimum Dignity Floor and Fun Number approach, we walk through how to identify which dollars need protection and where a degree of principal protection fits.
Jim’s “Pithy” Summary:Chris, Jacob, and I pick up where we left off last week—diving even deeper into what we call the “Venn diagram” years. That’s the messy overlap between accumulating assets and using them, when you’re still working but close enough to retirement that your portfolio better start shaping up for showtime. This is where a solid transition period strategy can make all the difference. We dig into the emotional side of repositioning, including why I think “locking in a loss” is more of a mental roadblock than a financial catastrophe, and why trying to time your way back to some magical high-water mark is a recipe for regret.
I take a bit of a detour into prospect theory, sequence of return risk, and what I jokingly call the 11th Commandment (spoiler: it’s not “thou shalt not sell unless at an all-time high”). Chris breaks down how DIYers can map out future spending in those first critical retirement years, Jacob walks through investment timelines and buffered strategies, and I try not to spill coffee on my laptop mid-rant.
Show Notes: As promised here is the photo of the foot space on Jim’s flight. According to our helpful listener, the space shown in the red box between the aisle and middle seats belongs to the middle seat passenger. This is because the middle seat loses space to the window seat due to the fuselage curve, and regains it on the aisle side. The aisle seat has slightly less space overall but can extend into the aisle if needed.
The post Transition Period Strategy Part 2 – Positioning and Repositioning: EDU #2517 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to tax planning at full retirement age, the minus-one method for RMDs, inherited Roth RMDs, and early Social Security.
(9:10) A listener jokes about the state trivia and offers a suggestion for Chris’s benefit.
(11:10) Another listener shares a PSA about delays in online Social Security applications and recommends visiting a local office.
(20:15) Georgette asks whether delaying her husband’s Social Security filing would be beneficial for Roth conversions.
(39:30) Jim and Chris address whether the minus-one method for RMDs was paused during the IRS’s waiver period.
(59:20) The guys answer if inherited Roth IRAs are ever subject to RMDs other than the 10-year deadline.
(1:14:15) George questions whether there are ever good reasons to take Social Security early.
Show Notes: the Slott Report
The post Tax Planning, Minus-One Method, Inherited Roth RMDs, and Early Social Security: Q&A #2516 appeared first on The Retirement and IRA Show.
Chris’s Summary:Jim and I are joined by Jake and Jacob to discuss listener emails related to asset positioning for retirement and the transition period leading up to it. We break down how we think about asset allocation across account types, what a liquidity account is and why we use it, and how we handle year-end tax planning. It’s all part of how and why our Secure Retirement Income Process focuses on spending needs, not just portfolio performance.
Jim’s “Pithy” Summary:
Chris and I are joined this week by Jake and Jacob for the first in what will likely be a multi-part series—because if you’ve listened to us long enough, you know we don’t exactly breeze through these things. This all started with two listener emails that were clearly related: one asked how to position assets across different types of accounts—Roth, IRA, brokerage, and so on—while the other came from someone in what we call the “transition period,” not quite accumulating anymore but not yet distributing either. We figured it was a perfect opportunity to dig in.
So, we walk through our approach to asset management, why we don’t believe in being dogmatic with account assignments, and how we use the Fun Number and Minimum Dignity Floor as anchors when planning for retirement spending—and why trying to map out every distribution years in advance is a fool’s errand. Instead, we focus on creating a flexible structure that can adapt as life throws curveballs. I share why I’m a fan of the liquidity account concept, Jake dives into how we handle tactical tax planning each fall, and Jacob brings his Jello-themed wisdom to the world of asset positioning.
Chris keeps us on track (mostly), but yes, there’s a brief derailment involving a questionable turn of phrase on my part—and now Jake and Jacob have recorded evidence of me offering them raises.
The post Transition Period Strategy Part 1 – Asset Positioning: EDU #2516 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to Social Security, origins of the RMD age, the tax planning window, and RMDs from Inherited Roth IRAs.
(11:00) Georgette asks how to qualify for child-in-care survivor benefits if her ex-husband, who has been missing for seven years, is legally declared deceased.
(23:00) A listener wonders when to file for her Social Security benefit to ensure no reduction in the first payment.
(32:00) The guys share a listener’s PSA about why the IRS originally chose age 70½ as the starting point for RMDs.
(46:30) A listener questions whether the tax planning window should actually end at age 63 due to potential IRMAA impacts.
(59:45) George is puzzled by an Ed Slott newsletter discussing RMDs from Inherited Roth IRAs.
The post Social Security, RMD age, Tax Planning, and Inherited Roth IRAs: Q&A #2515 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim and I are joined again by Jacob as we discuss listener emails about “unicorn” status—our term for retirees whose Minimum Dignity Floor and Fun Number are both covered by secure income. We clarify what qualifies as secure income and explore whether a very low withdrawal rate from a conservative portfolio might serve as a substitute. We also touch on when rental income might count and how longevity risk influences planning.
Jim’s “Pithy” Summary:
This week’s EDU is a dialog episode—where we take listener emails and use them as a jumping-off point to talk through the philosophy behind our approach. Chris and I are joined again by Jacob for a discussion on what it really means to be a “unicorn,” our nickname for retirees whose Minimum Dignity Floor and Fun Number are fully covered by secure income sources.
We get into why secure income isn’t just about predictability, but also about risk pooling, inflation, and longevity. One listener asks whether having an ultra-low withdrawal rate from a conservative portfolio might be good enough—and we talk through that with real-world examples, including a client case Jacob and I worked on. I also go off on a bit of a tangent (as I do) about SPIAs, mortality credits, and why I’m setting up a donor-advised fund that’ll stick around long after I’m gone.
If you’ve ever wondered whether it’s worth striving for unicorn status—or how to think through portfolio-based income—this is one of those conversations that gets to the heart of how and why we plan the way we do. Plus, you get to hear me throw a few curveballs at Chris and Jacob, which is always fun.
The post Defining Unicorn Status in Retirement: EDU #2515 appeared first on The Retirement and IRA Show.
This week’s is a bit of a non-traditional Q&A episode where Jim and Chris address two listener questions on Social Security but then move into Public Service Announcement mode. For the first PSA they discuss a listener email about a potential state-level Roth conversion tax saving strategy. Then, to wrap up the episode, Jim shares a continuation of the payday loan saga from last week. Jim and Chris are also joined by Jacob Vonloh from the office (who you have heard Jim mention many times), who shares a scam he recently encountered himself.
(13:00) George asks about child-in-care and spousal benefits tied to a disability claim and whether benefits increase if the higher earner delays until age 70.
(28:15) A listener wonders whether it might make sense to claim Social Security now rather than delay to age 70, given the additional spousal benefit that would be triggered.
(40:45) A listener PSA highlights how state-level exemptions may influence Roth conversion strategies.
(49:00) Jim provides a follow-up PSA about his recent payday loan fraud experience.
Show Notes
According to Norton you can help protect yourself by requesting your annual consumer reports and security freezes with the agencies below:
Teletrack: https://www.corelogic.com/support/credco-consumer-assistance/x
FactorTrust: www.transunion.com/client-support/factortrust-consumer-inquiry
Microbilt/PRBC: www.microbilt.com/us/consumer-affairs
Clarity Services: https://consumers.clarityservices.com/securityFreeze
The post Social Security, Roth Conversion Tax Strategy, and Identity Theft PSA: Q&A #2514 appeared first on The Retirement and IRA Show.
Chris’s Description
Jim and I talk about how market downturns—like the one we’re seeing now—can cause people to second-guess their plans, even when they’re well prepared. We walk through how our Secure Retirement Income Process is designed to provide structure and clarity during volatile times, and explain how proper positioning can help you maintain perspective.
Jim’s “Pithy” DescriptionChris and I are back this week with a timely conversation—because if you’ve looked at the headlines lately, you’d think the sky is falling. “Boomers in Trouble,” “Retirement Fears,” you name it. Meanwhile, the S&P is down about eight and a half percent from its recent high, and you’d think it was 2008 all over again. I get it. Even folks with millions in savings start to feel uneasy when their statements show a dip. Especially if you’re newly retired and that paycheck just stopped coming.
So we took a step back and talked through why I built the Secure Retirement Income Process and the See Through Portfolio in the first place. It’s not about chasing returns—it’s about helping you see your money clearly. Which dollars are for next year? Which ones are for twenty years from now? That clarity matters. Especially when fear starts knocking.
And yes, I go on a bit of a rant (a productive one!) about how headlines prey on emotions, how panic can sabotage your go-go years, and how, if you’re not careful, you’ll rob yourself of the very fun you saved all those years to enjoy. I even share a new addition to my own bucket list—a historical tour through Italy, inspired by my latest deep dive into Roman history. You think I’m putting that off because the market’s down eight percent? Not a chance!
The post Weathering Market Downturns: EDU #2514 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to spousal Social Security benefits, RMD tax withholding, IRA withdrawals, and 401(k) contribution limits. Jim also shares a PSA about a recent attempt at identity theft.
(20:15) Jim shares a PSA about a fraudulent payday loan application attempted in his name and what he learned about credit freezes and loan monitoring.
(30:15) George asks whether his wife will be subject to the earnings test if she retires mid-year and starts claiming Social Security benefits in the same year.
(39:15) George asks whether tax withheld from his RMD can satisfy IRS requirements for avoiding quarterly estimated taxes.
(47:30) A listener wonders whether taking cash from two small IRAs will result in capital gains taxes.
(1:03:00) Jim and Chris weigh in on a question about the total 401(k) contribution limit for those over age 50.
The post Identity Theft, Spousal Benefits, RMD Taxes, IRA Withdrawals, and 401(k) Contribution Limits: Q&A #2513 appeared first on The Retirement and IRA Show.
Chris’s Summary
Jim and I continue our review of interesting and sometimes confusing retirement planning facts, mostly drawn from Jim’s recent Ed Slott conference. We focus on the two Roth five-year rules and how they apply to Roth IRAs versus Roth 401(k)s. I explain the key distinctions between tax-free earnings and penalty-free access. Jim goes further into how “seasoning” from a Roth 401(k) carries over to a Roth IRA. We also touch on pro rata distribution rules in Roth 401(k)s, the IRS’s strict interpretation of the age 55 exemption, and the unique planning window between 59½ and RMD age.
Jim’s “Pithy” Summary
Chris and I continue our “things that make you go hmm” EDU series with more head-scratchers, funny moments, and some planning tips you’ll definitely want to remember. I came back from the recent Ed Slott conference with a pile of notes, and we dig into the most confusing—and most commonly misunderstood—rules surrounding Roth accounts: the dreaded five-year rules. I walk through both of them, explain how they apply to Roth IRAs and Roth 401(k)s, and we talk about the critical difference between tax-free and penalty-free withdrawals. Then we hit what I think is the big “ah-ha!” moment—the idea of “seasoning” Roth 401(k) dollars. Whether you picture that as a cast iron skillet like Chris or a cracked pepper roast like me, the point is: once a Roth 401(k) is fully seasoned, it keeps its flavor—even after being moved into a Roth IRA.
We also touch on a Roth 401(k) rule that surprises many people: how distributions are treated when they’re not qualified. Spoiler—it’s not like a Roth IRA! Plus, we go over a tax court case involving a guy who thought he was exempt from the 10% early withdrawal penalty and got hit with taxes, penalties, and interest anyway. It’s a cautionary tale, and the court’s response had us both shaking our heads.
Finally, we wrap up with some strategic talk about what Ed calls the “donut hole,” which matches what we refer to in the office as the tax planning window—that sweet spot between age 59½ and your RMD age when there are no penalties, no withdrawal restrictions, and total flexibility in how you tap your retirement accounts. If you’re doing any kind of serious tax or retirement planning, understanding this window is critical. Oh—and yes, there are plenty of food metaphors in this one, because I was hungry the whole show. Hope you enjoy!
The post Roth 5-Year Rules and the Tax Planning Window: EDU #2513 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to Social Security strategies, spousal benefits, Roth conversions, and annuities.
(8:15) George asks whether a widow who was widowed before age 60 has two Social Security claiming strategies available based on the FRA benefit of each spouse.
(20:30) The guys address a question about how spousal benefits are calculated when one spouse took Social Security early and the other has a PERA pension.
(29:30) Georgette wonders how she and her husband should approach Roth conversions given their $4 million in IRAs, her larger balance, and concerns about future RMDs and legacy planning.
(1:03:30) Jim and Chris provide guidance on whether to use current or future spending when purchasing a SPIA to cover base expenses and how laddering might play a role.
The post Social Security Benefits, Roth Conversions, and Annuities: Q&A #2512 appeared first on The Retirement and IRA Show.
Chris’s Summary:
This week’s EDU show is a throwback to an old favorite—things that make you go “hmm.” Jim brought back a list of oddities from the latest Ed Slott training, covering everything from RMD rules the IRS only recently addressed to real-world court cases involving bankruptcy, lottery tickets, and IRA self-dealing gone wrong. Turns out, there are plenty of IRA mistakes you can make—some more ridiculous than others.
Jim’s “Pithy” Summary:It’s another round of “things that make you go hmm,” straight from my latest trip to Ed Slott’s two-day training. These are the kinds of cases and quirks that catch my attention—some because they’re important, some because they’re just bizarre, and some because they make you wonder why no one’s brought them up before.
Ever wonder what happens if your IRA balance drops so low that you can’t take your full required minimum distribution? Turns out, the IRS finally put something in writing—but it took them long enough to address it.
Then there were some real-world case studies that left me shaking my head. One involved an all-or-nothing gamble with an IRA that didn’t go as planned. Another showed how trying to get too creative with IRA-owned real estate can backfire in a big way. And here’s one you probably haven’t thought about—doing an in-plan Roth conversion in your 401(k) might have unintended consequences that could close the door on a major tax strategy.
We’ll also talk about a handy tool for checking state estate and inheritance taxes—because where you live (or where you move) could have a bigger impact than you think.
Hope you enjoy the mix of useful, surprising, and “you’ve got to be kidding me” moments!
The post Things That Make You Go Hmm – RMD Rules, IRA Mistakes, and Tax Court Surprises: EDU #2512 appeared first on The Retirement and IRA Show.
Jim and Chris answer listener questions on Social Security records, GPO, QCD timing, annuity costs, and excess IRA contributions.
(10:30) Georgette asks about fixing gaps in her Social Security record.
(19:30) The guys discuss how a listener’s spousal Social Security benefits work after the repeal of GPO.
(28:30) George seeks clarification on the timing of QCDs and RMDs.
(53:30) Jim and Chris answer a query about the administrative costs of annuities.
(1:04:15) George faces challenges with excess IRA contributions and MAGI limits.
The post Social Security records, GPO, QCD Timing, Annuity Costs, and Excess IRA Contributions: Q&A #2511 appeared first on The Retirement and IRA Show.
Chris’s Summary:
Jim’s back from his conference and Jake joined the show again this week as we tackled the latest Ed Slott quiz. Unlike last time, Jim didn’t give us the book to reference—so Jake and I were going in cold. Jim also decided to test ChatGPT by giving it the entire quiz and the manual. With all that information, the AI was still imperfect.
While seeing if we could outscore both the AI and each other, we covered Inherited IRA RMD rules, SECURE Act 2.0, self-certification for disability, Roth 401(k) rules, and spousal consent for IRA beneficiaries.
Jim’s “Pithy” Summary:
It’s time for another Ed Slott IRA quiz, and this time, I decided to put both AI and my co-hosts to the test. Before the show, I handed the entire quiz—along with the Ed Slott manual—to ChatGPT to see if it could finally outscore us mere humans. Turns out, even with all that information, AI still flunked five questions. So, while the robots might be getting smarter, they’ve still got a long way to go before they can challenge a real retirement planner.
Chris and Jake joined me as we tackled some tricky questions on Inherited IRA RMDs, Roth 401(k) surprises, SECURE Act curveballs, and even some quirky beneficiary rules. To make things more interesting, I made sure they had no book, no notes—just their wits. And, of course, I had the pleasure of revealing exactly where the AI got it wrong (which, let’s be honest, was just as fun as answering the questions).
Along the way, we covered why certain Inherited IRA RMD rules have changed, how Roth 401(k)s can still trip people up, and why SECURE Act provisions aren’t always as straightforward as they seem. Plus, we had some fun debating the bizarre quirks of beneficiary designations—because apparently, even the IRS likes to keep us guessing.
Think you can outscore AI? Maybe even outscore Chris and Jake? Play along and see how you do!
The post IRA Rules Quiz: EDU #2511 appeared first on The Retirement and IRA Show.
Jim and Chris are joined by Paul Neiffer, CPA to answer listener questions on qualified dividends, gifting strategies, Roth conversions, and trust taxation.
(09:00) George wonders if frequent rebalancing in his taxable brokerage account is causing more of his dividends to be classified as unqualified.
(21:30) A listener asks for guidance on which accounts to withdraw from when planning a large financial gift to an adult son.
(37:15) The guys offer their perspective on doing Roth conversions early in retirement in order to reduce RMDs, and thus taxes, later in retirement.
(59:30) Georgette seeks clarity on revocable trust taxation, IRA beneficiary designations for minors, and whether a trust should be named as the beneficiary of a Roth or brokerage account.
The post Qualified Dividends, Gifting Strategies, Roth Conversions, and Trust Taxation: Q&A #2510 appeared first on The Retirement and IRA Show.
Chris’s Summary:Jim is at yet another industry conference, so Jake is stepping in to join me this week. We pick up where Jim and I left off last time, discussing misleading financial articles. This time, we take a critical look at an article from Moneywise that claims to lay out the “standard” order for withdrawing retirement funds—but seems more focused on promoting paid links than providing useful advice. We break down why a one-size-fits-all withdrawal strategy doesn’t work, how tax planning should drive these decisions, and why you should always approach articles like this with skepticism.
Jim’s “Pithy” Summary (Even Though He’s Not in This One):Well, I wasn’t on this episode because—surprise, surprise—I was off at an industry conference (again!), this time hunting for the next great fintech tool to help our office and clients. I’m always looking for ways to improve the advice we give, the services we offer, and maybe—just maybe—find a tool that doesn’t require me to beg Chris to teach me how to use it! Meanwhile, Chris and Jake tackled yet another clickbait financial article, this time from Moneywise, which attempted to pass off a barely disguised ad as solid financial advice.Now, I haven’t listened to the episode yet, but I can already feel my blood pressure rising. Articles like this—pretending to provide helpful guidance while actually steering unsuspecting retirees toward whatever paid service they’re shilling that day—really get me going! From what I gather, Chris probably got straight to the point, and Jake—being the level-headed guy he is—kept things grounded with solid explanations. They covered why tax planning should drive your withdrawal strategy, how blindly following a set order can lead to higher taxes, and why taxable accounts might be more valuable later in retirement than these so-called experts admit. And I’m sure they took a few well-earned jabs at the deceptive ways financial content is being turned into a giant ad machine.
I’ll be back next week, but in the meantime, Chris and Jake are more than capable of keeping things straight—though, let’s be honest, the episode is probably missing at least one good rant from me, plus a few mispronounced words, incorrect names, and deep rabbit holes that make Chris sigh in exasperation!The post Setting the Record Straight on Clickbait vs Reality: EDU #2510 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, 529 plans, Fun Vision, and Annuities.
(Intro – 12:00) Chris provides a Social Security PSA.
(19:00) A listener wonders whether her husbands Social Security benefits have been getting a COLA since his passing or if they’ve been frozen.
(26:00) A listener wonders if missed payment history from the 1980’s can be corrected and included when calculating their Social Security benefit.
(36:15) A listener asks about other alternative investment options for his 529 plans depending on the future of his daughters education needs.
(50:45) A listener wonders what the difference is between Fun Vision and the Fun Number.
(1:03:30) George looks for advice on taking his 401(k) as an annuity versus a SPIA down the line.
The post Social Security, 529 Plans, Fun Vision, and Annuities: Q&A #2509 appeared first on The Retirement and IRA Show.
Chris’s Concise Summary:
Jim and Chris examine a recent Suze Orman article on inherited IRA rules, identifying key errors that could mislead readers. They clarify the nuances of the 10-year rule, explain how the required beginning date determines whether annual RMDs are necessary and why Roth IRAs don’t have required minimum distributions. The guys also emphasize the importance of verifying financial information before making decisions.
A note to listeners: Regular listeners know that Jim is always looking for ways to improve. The podcast is no exception, so some changes are coming in the EDU episode descriptions! In this space, between the usual basic summary (now called Chris’s Summary) and the new, more detailed, Jim’s Summary, you’ll soon find links to related articles, documents, and other resources that Jim and Chris believe may be useful or interesting to listeners.
Jim’s “Pithy” Summary:
The guys take a critical look at a recent Suze Orman article discussing inherited IRA rule changes for 2025, identifying inaccuracies that could mislead readers navigating these complex rules. One key issue they highlight is the claim that all inherited IRAs, including Roth IRAs, require annual RMDs under the 10-year rule. Jim and Chris explain why this is incorrect and clarify that the rules depend on whether the original account owner had reached their required beginning date before passing away. They break down how the “at least as rapidly” (ALAR) rule applies to inherited accounts when RMDs were already in progress, ensuring listeners understand the distinctions that many articles fail to address.
The conversation also dives into Roth IRAs, reinforcing that they do not have required minimum distributions during the original owner’s lifetime, which means beneficiaries are not required to take annual distributions. Instead, most non-spouse Roth IRA beneficiaries can allow the funds to grow tax-free and withdraw the full balance in the 10th year. Chris and Jim stress that financial publications often oversimplify these rules, leading to confusion and potential missteps for individuals managing inherited accounts.
In addition to dissecting the article’s errors, the guys discuss broader issues with financial media, including the need for thorough fact-checking and the risks of relying on clickbait-style headlines for retirement planning guidance. They express concerns that many widely shared articles fail to provide the necessary nuance, which could result in readers making uninformed decisions.
Beyond the technical discussion, Jim and Chris also touch on upcoming podcast plans, including a potential follow-up episode covering a “Moneywise” article that Jim believes may be misleading in its own way. With Jim’s upcoming travel, they discuss the logistics of recording, including the possibility of Jake stepping in for an episode to analyze the “Moneywise” piece.The post False Facts and Real Consequences: EDU #2509 appeared first on The Retirement and IRA Show.
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.
The post Social Security Benefits, RMD Taxes, IRMAA, and Social Security Taxation: Q&A #2508 appeared first on The Retirement and IRA Show.
Chris flies solo for this long promised, very special, EDU episode where he describes our retirement planning philosophy and approach in just 30 minutes.
The post Our Retirement Planning Philosophy and Approach, Condensed Version: EDU #2508 appeared first on The Retirement and IRA Show.
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.
The post Social Security, IRMAA, IRA Distributions, Roth Contributions, Catch-up Contributions, and Inherited IRA RMDs: Q&A #2507 appeared first on The Retirement and IRA Show.
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?
The post A Smart Approach to Retirement: EDU #2507 appeared first on The Retirement and IRA Show.
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.
The post Survivor Benefits, Social Security Disability, and Donor Advised Funds: Q&A #2506 appeared first on The Retirement and IRA Show.
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.
The post A Discussion on Simplified Retirement Planning: EDU #2506 appeared first on The Retirement and IRA Show.
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
The post Social Security, QLACs, and ETFs: Q&A #2505 appeared first on The Retirement and IRA Show.
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
The post Safe Withdrawal Rate: EDU #2505 appeared first on The Retirement and IRA Show.
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.
The post Medicare Enrollment, Social Security, and Estate Taxes: Q&A #2504 appeared first on The Retirement and IRA Show.
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.
The post Charitable Remainder Trusts Part 2: EDU #2504 appeared first on The Retirement and IRA Show.
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.
The post Contributions, Social Security, 415 Limits, and Beneficiaries: Q&A #2503 appeared first on The Retirement and IRA Show.
Chris and Jake discuss the new “Super-Catchup” retirement plan contributions, explaining who qualifies and how they work.
The post “Super-Catchup” Retirement Plan Contributions: EDU #2503 appeared first on The Retirement and IRA Show.
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.
The post Social Security, Inherited Roth IRAs, Inherited IRA RMDs, and Roth Withdrawals: Q&A #2502 appeared first on The Retirement and IRA Show.
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
The post Retirement Planning Dialogue: EDU #2502 appeared first on The Retirement and IRA Show.
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.
The post Spousal Benefits, IRMAA, Step-Up Basis, Family Maximums, Beneficiaries, and Inheritances: Q&A #2501 appeared first on The Retirement and IRA Show.
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.The post Developing Confidence With Retirement Spending: EDU #2501 appeared first on The Retirement and IRA Show.
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.
The post Social Security Benefits, IRMAA, RMDs, Annuities, and Beneficiaries: Q&A #2452 appeared first on The Retirement and IRA Show.
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.
The post Individualized Retirement Planning Strategies: EDU #2452 appeared first on The Retirement and IRA Show.
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.
The post IRMAA, 457b, QCDs, and Roth Conversions: Q&A #2451 appeared first on The Retirement and IRA Show.
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.
The post Charitable Remainder Trusts Part 1: EDU #2451 appeared first on The Retirement and IRA Show.
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.
The post IRMAA, Spousal Benefits, IRA Withdrawals, QCDs, and Roth Contributions: Q&A #2450 appeared first on The Retirement and IRA Show.
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.
The post Retirement Planning Philosophy and Process Dialog: EDU #2450 appeared first on The Retirement and IRA Show.
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.
The post Family Maximum Benefit, Means Test, QCDs, Tax Strategies, and SPIA Income: Q&A #2449 appeared first on The Retirement and IRA Show.
Chris is joined by estate planning attorney Shelley Thompson while Jim is traveling. Chris and Shelley discuss common mistakes people make with their Wills.
The post Common Estate Planning Mistakes: EDU #2449 appeared first on The Retirement and IRA Show.
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.
The post Social Security, Annuity RMDs, and Being a CFP: Q&A #2448 appeared first on The Retirement and IRA Show.
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.
The post 60-day Rollover Conversion Strategy: EDU #2448 appeared first on The Retirement and IRA Show.
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
The post Earnings Test, IRMAA, Survivor Benefits, 529 Plans, and SPIAs: Q&A #2447 appeared first on The Retirement and IRA Show.
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!).
The post Roth Conversions and RMDs: EDU #2447 appeared first on The Retirement and IRA Show.
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.
The post Social Security Benefits, Roth Conversions, and RMDs: Q&A #2446 appeared first on The Retirement and IRA Show.
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.
The post SECURE Act Updates :EDU #2446 appeared first on The Retirement and IRA Show.
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?
The post Social Security, RMDs, QLACs, and Buffered ETFs: Q&A 2445 appeared first on The Retirement and IRA Show.
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.
The post Stretch IRA Rules and More: EDU #2445 appeared first on The Retirement and IRA Show.
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.
The post Medicare, Roth Conversions, Spousal Benefits, 401(k) Contributions, and RMDs: Q&A #2444 appeared first on The Retirement and IRA Show.
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.
The post How Listeners are Implementing Our Planning Process: EDU #2444 appeared first on The Retirement and IRA Show.
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.
The post Social Security WEP and GPO Special: Q&A #2443 appeared first on The Retirement and IRA Show.
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”.
The post Qualified Annuities and IRA Deep Dive: EDU #2443 appeared first on The Retirement and IRA Show.
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
The post Qualified Accounts, Social Security, Medicare, HSAs, and Roth Conversions: Q&A #2442 appeared first on The Retirement and IRA Show.
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.
The post Medicare Enrollment Assistance Special Episode: EDU #2442 appeared first on The Retirement and IRA Show.
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.
The post Social Security Benefits and Roth IRA Annuities: Q&A #2441 appeared first on The Retirement and IRA Show.
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.
The post Medicare Insurance Special: EDU #2441 appeared first on The Retirement and IRA Show.
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.
The post Social Security, Retirement Planning, 529 Savings Accounts, Roth Losses, and FIAs: Q&A #2440 appeared first on The Retirement and IRA Show.
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.
The post Our Retirement Planning Process: EDU #2440 appeared first on The Retirement and IRA Show.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Jim and Chris welcome special guest Matt Kaufman from Calamose 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.
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
(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.
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.
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.
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.
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?
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.
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.
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.
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.
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.
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 (requires subscription).
The post Insurance Companies and Annuities: EDU #2425 appeared first on The Retirement and IRA Show.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 #2418 appeared first on The Retirement and IRA Show.
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.
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 #2417 appeared first on The Retirement and IRA Show.
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.
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 Part 1: EDU #2416 appeared first on The Retirement and IRA Show.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Jim and Chris sit down to discuss an email from a listener seeking guidance on some decisions they have to make given their situation.
The post Guidance On A Listeners Situation: EDU #2349 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, QLACs, MYGAs, and taxes.
(13:30) A Mississippi listener asks if his wife will have to pay back her Social Security benefit after going back to work.
(26:00) A Virginian listener asks about the latest possible dates he can use when filing form SSA-44 to avoid any IRMAA impacts.
(36:00) A listener in Arizona asks about QLACs and any early withdrawal penalties on multi-year guaranteed annuities (MYGAs).
(1:10:30) George from Kansas City looks for clarification on how a client can avoid quarterly tax penalties while not recognizing a massive amount of income for the year.
The post Social Security, IRMAA, QLACs, MYGAs, and Taxes: Q&A #2348 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple of items to consider when choosing a financial advisor/planner.
The post Things To Consider When Choosing A Financial Advisor/Planner: EDU #2348 appeared first on The Retirement and IRA Show.
From all of us at Jim Saulnier & Associates, have a happy Thanksgiving with family and friends!
The post Thanksgiving Break: Q&A #2347 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion from last week on funding the Minimum Dignity Floor (MDF) and addressing inflation using bond ladders.
The post Inflation, MDF, and Bond Ladders: EDU #2347 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, IRA to HSA conversions, and 403(b)’s.
(7:30) George from Texas asks about the effects of when his wife decides to file for her Social Security benefits in relation to his own filing.
(26:30) George in Ohio provides his own unique scenario and looks for clarification on how his IRMAA-related premiums will work.
(38:15) A listener from Maryland asks about the rules for the one-time conversion from an IRA to an HSA.
(1:03:00) A listener in Florida wonders how he should handle his high-fee 403(b) account in retirement.
The post Social Security, IRMAA, IRA To HSA Conversions, and 403(b)’s: Q&A #2346 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion from last week on funding the Minimum Dignity Floor (MDF) and addressing inflation using their approach.
The post Funding MDF and Addressing Inflation: EDU #2346 appeared first on The Retirement and IRA Show.
Chris sits down on a solo show to discuss listeners questions relating to IRMAA, SSA-44, and Social Security spousal/survivor benefits.
(3:30) A Californian listener asks about the timing of when IRMAA will start relative to applying for Medicare.
(10:11) A listener from Indiana looks for clarification on the need for an SSA-44 form for a client who was recently let go from employment.
(20:30) George in Virginia asks about taking a spousal Social Security benefit with children under 16 regarding the reduced amount.
(26:00) A listener in Minnesota wonders if a person who is at or above full retirement age can suspend their own Social Security benefit to claim a survivor benefit instead.
(32:00) A Colorado listener asks if she has to pay back spousal benefits she collected previously following a divorce.
(37:00) Chris provides some input on the changes for Social Security in 2024.
The post IRMAA, SSA-44, and Social Security Spousal/Survivor Benefits: Q&A #2345 appeared first on The Retirement and IRA Show.
Jim and Chris discuss a listeners email comparing a 4% safe withdrawal rate to purchasing an income annuity for covering his minimum dignity floor (MDF).
The post Safe Withdrawal Rate Vs. Income Annuity: EDU #2345 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security, IRMAA, annuities, and Roth conversions.
(4:30) George from North Carolina looks for clarification on a spouses ability to claim a spousal and survivor Social Security benefit.
(22:45) George asks if IRMAA premiums apply if Medicare has been suspended.
(28:15) George in Ohio looks for help in determining which type of annuity his wife currently holds within an IRA wrapper.
(54:15) A listener in Kentucky comments on a previous show and looks for clarification on the 5-year clock for dollars from a Roth conversion.
(1:11:00) A Michigan listener asks about the timing behind doing a year end Roth conversion and paying the applicable taxes.
The post Social Security, IRMAA, Annuities, and Roth Conversions: Q&A #2344 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and consider some special tax treatment accounts from an Ed Slott newsletter.
The post Special Tax Treatment Accounts: EDU #2344 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, basis in IRAs, and SPIAs.
(26:15) A listener looks for general clarification on their own Social Security benefit, potential survivor benefit and the effects of WEP.
(34:15) George from Minnesota asks about the timing of IRMAA and when they might be expected to pay the additional premium.
(43:45) Jim discussed some ideas for how to separate the after-tax basis in an IRA.
(57:30) George from Texas looks for clarification on the tax treatment of a distribution from a SPIA.
The post Social Security, IRMAA, Basis In IRAs, and SPIAs: Q&A #2343 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on an article titled, “How Traditional Retirement Models Cost Clients Millions” on Advisor Prospectives website.
The post Discussing An Article On Traditional Retirement Models Continued: EDU #2343 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, QCDs, RMDs, and annuities.
(6:15) George from Washington looks for advice on when his wife should look to claim Social Security.
(17:45) A different George in Washington wonders which IRMAA threshold he should pay attention to when looking for an adjustment upon retiring.
(34:30) A listener gives a real world example of using the “cream in coffee” explanation for basis within an IRA when looking at doing some qualified charitable distributions (QCDs).
(57:15) George from Kansas City wonders if you can send out required minimum distributions (RMDs) at the same time as doing a Roth conversion.
(1:05:15) A listener asks if they use tax-deferred IRA money to fund an annuity, is there a way to get the tax deferral on a withdrawal from the annuity.
The post Social Security, IRMAA, QCDs, RMDs, and Annuities: Q&A #2342 appeared first on The Retirement and IRA Show.
Jim and Chris discuss a recent article titled, “How Traditional Retirement Models Cost Clients Millions” on Advisor Prospectives website.
The post Discussing An Article On Traditional Retirement Models: EDU #2342 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to Social Security, IRMAA, Roth conversions, SPIAs, and QCDs.
(8:45) George from Virginia provides some additional clarification on a Social Security question discussed on the last EDU show #2341.
(21:30) A listener from New Jersey wonders if the proceeds from a home sale will push him into IRMAA and if there is a toll he can use for looking into potential Roth conversion benefits.
(50:00) A Pennsylvanian listener follows up on a SPIA question from a previous show and looks for clarification on the answer from Jim and Chris.
(1:03:15) The same listener from above asks if distributions from an annuity held in a Qualified account which are directed by an insurance company to a charity can be treated as QCDs on his tax return.
(1:10:30) A listeners asks about the ideal time to purchase an annuity for their future selves given cognitive decline concerns.
The post Social Security, IRMAA, Roth Conversions, SPIAs, and QCDs: Q&A #2341 appeared first on The Retirement and IRA Show.
Chris sits down on a solo episode to discuss several different listeners questions relating to a variety of Social Security topics.
(3:00) George from Texas asks if avoiding the spousal offset from automatically kicking on is an option.
(9:15) Georgette wonders if her future COLAs and deferred retirement credits will be calculated based on the benefit she was receiving prior to suspending her benefit.
(16:30) A listener in South Carolina asks if her mother will fall under IRMAA given her unique circumstances with the state making an error on her pension income amount.
(32:30) A listener in Colorado looks for clarification on the law regarding voluntary suspension of benefits.
(39:45) A Pennsylvanian listener asks about the spousal/survivor benefits his wife would be eligible to receive if he were to pass away.
The post A Social Security Special: EDU #2341 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security, spousal benefits, IRMAA, SPIAs, and excess contributions.
(8:00) A listener from Arizona looks for clarity regarding a spousal Social Security benefit and what amount is considered for the spousal “top off” amount.
(23:15) George from Massachusetts asks about filing the form SSA-44 to avoid IRMAA for the years following his retirement.
(40:00) A Californian listener wonders about the details of a unique rider on her SPIA.
(1:02:45) A listener in Alabama comments on a question answered in this last weeks EDU show and provides his thoughts.
The post Social Security, Spousal Benefits, IRMAA, SPIAs, and Excess Contributions: Q&A #2340 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on a test/quiz given to attendees of the Ed Slott training program.
The post Reviewing The Ed Slott Test Continued: EDU #2340 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security, GPO, the Social Security spousal benefits, IRMAA, SPIAs, and the Secure Act 2.0.
(4:30) A listener from Illinois references a previous Q&A show and asks about the effects of GPO on Social Security.
(8:15) A listener from Utah looks for clarification on delaying the claiming of a spousal Social Security benefit.
(22:30) Georgette from Ohio asks about the procedure of notifying the SSA of an increase in previous years’ taxable income and the effect on the IRMAA calculation.
(31:00) A listener from New Jersey asks about the timing of purchasing of a SPIA considering the current high interest rate environment.
(55:30) A listener from Illinois seeks clarification on the beneficiary classification of a trust according to the Secure Act 2.0.
The post Social Security, GPO, Spousal Benefits, IRMAA, SPIAs, and Secure Act 2.0: Q&A #2339 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a test/quiz given to attendees of the Ed Slott training program and provide their thoughts.
The post Reviewing The Ed Slott Test: EDU #2339 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, PIA, IRMAA, MDF, and annuities.
(5:15) A Californian listener looks for clarification on a potential Social Security survivor benefit for his mother.
(17:00) An Arizona listener wonders at what point his primary insurance amount (PIA) becomes “set”.
(31:30) George from Texas asks about IRMAA and it’s impact in the year when he’ll be turning 65 due to a birthday late in the year.
(37:15) A listener wonders where the concept of an emergency fund fits into the minimum dignity floor (MDF).
(44:30) A listener from Connecticut asks if there are specific annuities available within 401k(k) plans that would be advantageous compared to those available in a standard IRA.
The post Social Security, PIA, IRMAA, MDF, and Annuities: Q&A #2338 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their dialogue on feedback from listeners about how they’re doing their own retirement planning.
The post Reexamining The Fun Number, MDF and Secure Income Part 5: EDU #2338 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, SSA-44, Secure Act 2.0, and income annuities.
(6:45) A Virginian listener mentions a personal experience with personal and spousal Social Security benefits and asks for clarification on the exact rules.
(27:30) George from Virginia asks if you have to file the form SSA-44 twice for each year in the two year lookback period.
(35:30) A listener wonders if a Social Security survivor benefit can be claimed in the case of a domestic partnership versus a marriage.
(47:00) George in Michigan asks if he’ll be able to contribute the catchup contribution to his 401k next year given the changes with Secure Act 2.0.
(58:00) A Louisiana listener wonders why Jim and Chris don’t encourage people in their early 50’s to purchase an income annuity.
The post Social Security, SSA-44, Secure Act 2.0, and Income Annuities: Q&A #2337 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their dialogue on feedback from listeners about how they’re doing their own retirement planning.
The post Reexamining The Fun Number, MDF and Secure Income Part 4: EDU #2337 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions regarding Social Security, IRMAA, fun spending, and MDF. (7:30) A Massachusetts listener looks for clarification on WEP and his person Social Security benefit timing. (15:00) George in Maryland asks about IRMAA and the circumstances of a life changing event. (22:30) A listener from Wisconsin asks about […]
The post Social Security, IRMAA, Fun Number, and MDF: Q&A #2336 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their dialogue on feedback from listeners about how they’re doing their own retirement planning.
The post Reexamining The Fun Number, MDF and Secure Income Part 3: EDU #2336 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, MDF, and fun spending.
(6:45) A listener looks for clarification on his wife’s spousal Social Security benefit.
(12:30) A listener from Indiana asks about suspending her own Social Security benefit till age 70 while potentially claiming a spousal benefit in the meantime.
(23:00) George from Missouri wonders if income recognized from Roth conversions after retirement would substantiate a qualifying event for the form SSA-44 and IRMAA.
(39:30) A listener looks to get quickly caught up on the concepts of the minimum dignity floor (MDF) and fun number.
(43:00) A listener talks about his own experience in retirement and the unfortunate lack of time to enjoy fun spending.
(54:15) George in Pennsylvania shares his story about getting out and enjoying some desired/fun travel ahead of his eventual retirement.
The post Social Security, IRMAA, MDF, and Fun Spending: Q&A #2335 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on the concept of the fun number, minimum dignity floor (MDF), and secure income.
The post Reexamining The Fun Number, MDF and Secure Income Part 2: EDU #2335 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security, IRMAA, Roth conversions, life insurance, MDF, and the fun number.
(7:00) Georgette from Michigan asks for the best, free Social Security claiming optimization tools.
(30:45) Georgette in Colorado wonders if doing Roth conversions to avoid IRMAA impacts is really worth the trouble.
(56:00) A listener in Ohio looks for the teams thoughts on potentially moving from a term life insurance policy into a permanent policy.
(1:09:30) A Texan listener wonders if there is an approximate way for someone to estimate their minimum dignity floor (MDF) and fun number being 20 years out from retirement.
The post Social Security, IRMAA, Roth Conversions, Life Insurance, MDF and Fun Number: Q&A #2334 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and reexamine the concept of the fun number, minimum dignity floor (MDF), and secure income.
The post Reexamining The Fun Number, MDF and Secure Income: EDU #2334 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss questions relating to Social Security, survivor benefits, asset management, annuities and RMDs. (3:30) A listener from Washington looks for clarification on claiming a Social Security survivor benefit and the timing of claiming her own personal benefit. (14:15) A listener from Michigan wonders if waiting till age 70 to […]
The post Social Security, Survivor Benefits, Asset Management, Annuities, and RMDs: Q&A #2333 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion of an article and provide their opinion on how they would attack some of the concerns proposed in the article.
The post Addressing Concerns Posed In Financial Planning Article Part 2: EDU #2333 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to Social Security, annuities, Roth conversions, IRMAA, and buffered investments. (2:45) Georgette from New York looks for some clarification on collecting her own Social Security benefit given a couple of unique items specific to her case. (12:30) A listener provides his input and thoughts on Jim and Chris’s […]
The post Social Security, Annuities, Roth Conversions, IRMAA, and Buffered Investments: Q&A #2332 appeared first on The Retirement and IRA Show.
Jim and Chris discuss an article and provide their opinion on how they would attack some of the concerns proposed in the article.
The post Addressing Concerns Posed In Financial Planning Article: EDU #2332 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security, WEP, survivor benefits, RMDs, annuities, and pensions. (5:45) Georgette in Texas looks for clarification on the impacts of the windfall elimination provision (WEP) on her anticipated Social Security benefit. (14:00) George from Nebraska asks about the timing of claiming a Social Security survivorship benefit based on […]
The post Social Security, WEP, Survivor Benefits, RMDs, and Pensions: Q&A #2331 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion and dive into detail on Power of Attorney (POA) forms with relation to changing beneficiaries.
The post Powers Of Attorney and Beneficiary Changes: EDU #2331 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, annuities, LTC, Roth IRA contributions and 529 plans. (5:15) A listener from New Jersey asks if there is an income limit for being allowed to claim child in care Social Security benefits. (14:00) A Colorado listener looks for clarification on his wives […]
The post Social Security, Annuities, LTC, Roth IRAs and 529 Plans: Q&A #2330 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple of common mistakes attorneys see in financial powers of attorney (POA).
The post Common Financial Power Of Attorney Mistakes: EDU #2330 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security, pensions, RMDs, Roth conversions, IRMAA, and 529 plans. (12:15) George from Florida looks for clarification on the timing behind a client of his claiming a Social Security survivor benefit as well as her own benefit. (22:15) Jim and Chris talk about possible changes to pensions […]
The post Social Security, Pensions, RMDs, Roth Conversions, and 529 Plans: Q&A #2329 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to chat about an article discussing life insurance versus Roth IRAs as retirement planning tools.
The post Life Insurance Versus Roth IRAs: EDU #2329 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, HSAs, MYGAs, and Roth IRAs. (5:15) George from Kansas asks for thoughts on his Social Security claiming strategy in relation to making health savings account (HSA) contributions. (20:30) A Colorado listener asks if he should be considering utilizing lower rated insurance carriers […]
The post Social Security, HSAs, MYGAs, and Roth IRAs: Q&A #2328 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on an article and quiz relating to the financial planning challenge.
The post Discussing The Financial Planning Challenge and Associated Quiz Continued: EDU #2328 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, insurance, IRMAA, and MYGAs. (5:30) A listener from Florida looks for clarification on the rules regarding Social Security and having a disabled child. (28:30) The same listener from above asks for advice on cashing in an insurance policy or not. (1:07:30) A […]
The post Social Security, Insurance, IRMAA, and MYGAs: Q&A #2327 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss an article and quiz relating to the financial planning challenge.
The post Discussing The Financial Planning Challenge and Associated Quiz: EDU #2327 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, DIAs, QLACs, and interest rates. (4:30) A Texan listener looks for clarification on the rules surrounding the Social Security earning limit for self-employed people. (17:45) A listener asks if she’s missing anything in calculating the maximum and optimal time for her and […]
The post Social Security, DIAs, QLACs, and Interest Rates: Q&A #2326 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the considerations behind owning an annuity within an IRA and when it could be appropriate.
The post Owning An Annuity Inside An IRA: EDU #2326 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, spousal/survivor benefits, SPIAs, and IRA basis. (4:00) A listener from Delaware looks for clarification on the timing of claiming Social Security and when his wife is eligible to claim a spousal benefit. (15:25) A local Colorado listener wonders how she can begin […]
The post Social Security, Spousal/Survivor Benefits, SPIAs, and IRA Basis: Q&A #2325 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the basics of annuities and where we see them fitting in within our retirement planning philosophy.
The post The Basics Of Annuities: EDU #2325 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, Roth IRAs, 403(b) accounts, and pensions. (9:00) George from Kansas asks a question from a client regarding Social Security and the claiming of benefits. (19:00) George from Tennessee asks if we can explain how delayed Social Security credits after full retirement age […]
The post Social Security, Roth IRAs, 403(b) Accounts, and Pensions: Q&A #2324 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on annuity related topics and when to consider the use of an annuity within your retirement plan.
The post When To Consider An Annuity: EDU #2324 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions regarding Social Security, Brokered CDs, Income Annuities, Stretch Annuities, and RMDs. (18:30) A listener from Texas asks a question about the family maximum Social Security benefit. (32:00) George from Ohio mentions that brokered CDs can be a great short-term principally protected alternative to Multi-Year Guaranteed Annuities […]
The post Social Security, Brokered CDs, Income Annuities, Stretch Annuities, and RMDs: Q&A #2323 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a few housekeeping items relating to post-Required Minimum Distribution (RMD) Roth conversions. Then, they dive into their retirement planning philosophy around annuities.
The post RMD Correction and Annuities in Retirement: EDU #2323 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, Required Minimum Distributions (RMDs), and Inherited Annuities. (10:00) George from California asks a question about Social Security claiming options to supplement their other secure income sources. (40:30) A listener wants clarity from the May 17th, 2023 EDU show about RMDs on their […]
The post Social Security, RMDs, and Inherited Annuities: Q&A #2322 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to wrap up their discussion on the Secure Act 2.0 updates.
The post Secure Act 2.0 Updates and Clarification Part 5: EDU #2322 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, IRA beneficiaries, OCDs, and IRMAA exceptions.
(9:00) Jim and Chris continue a discussion based on a Michigan listeners situation where he did not receive his full Social Security Delayed Retirement Credits.
(20:15) A Californian listener asks about the timing for her husband claiming his own Social Security benefit then later switching to a spousal benefit.
(32:00) Georgette wonders if she were to claim her husbands pension at his passing if her Social Security benefit would be affected by WEP.
(36:00) Jim and Chris provide clarification on whose life expectancy to use for calculating RMDs when inheriting an IRA as a successor beneficiary from someone who was already the IRA’s successor beneficiary.
(53:00) A listener from Minnesota wonders about trying to do QCDs within employer accounts like 403b’s and 457 plans.
(1:11:15) Georgette from North Carolina wonders if her mother could file for some IRMAA exceptions.
The post Social Security, IRA Beneficiaries, QCDs, and IRMAA Exceptions: Q&A #2321 appeared first on The Retirement and IRA Show.
Jim and Chris finalize their discussion on the Secure Act 2.0 and provide guidance on the various updates/interpretations currently available.
The post Secure Act 2.0 Updates and Clarification Part 4: EDU #2321 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, Roth conversions, RMDs, and beneficiaries.
(4:45) George from Utah asks a handful of questions relating to his Social Security benefit, spousal benefits and the timing of both.
(18:00) George from North Carolina wonders if he will receive the Social Security COLA adjustment for last year even if he has not yet began collecting his benefit.
(26:30) A Californian George looks for clarification on the timing of filing the SSA 44 form and completing some Roth conversions.
(58:30) A listener from Puerto Rico asks about year of death RMDs under the Secure Act 2.0 and successor beneficiary rules.
The post Social Security, IRMAA, Roth Conversions, RMDs and Beneficiaries: Q&A #2320 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on the Secure Act 2.0 and provide guidance on the various updates/interpretations currently available.
The post Secure Act 2.0 Updates and Clarification Part 3: EDU #2320 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security, robo-advisors, excess contributions, 529 plans, and RMDs.
(6:45) A Californian listener wonders if she’s been missing out on a potential spousal Social Security benefit while delaying claiming her own personal benefit.
(17:15) George from Georgia asks what to do about the excess Social Security benefit that was paid into his recently deceased mothers bank account.
(25:15) A different listener in Georgia asks a couple of questions relating to a robo-advisor harvesting capital losses and custodian issues with excess Roth IRA contributions.
(47:15) George looks for clarification on the rules surrounding 529 ABLE plans for his special needs son and whether or not the funds can be rolled over into a Roth IRA given the circumstances.
(54:15) Georgette wonders if her annual SPIA income from an IRA can be used to offset her future RMD amount when she turns 73.
(1:06:00) George from Pennsylvania asks a very similar question to the one above regarding SPIA income offsetting RMDs owed.
The post Social Security, Robo-Advisors, Excess Contributions, 529 Plans, and RMDs: Q&A #2319 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion/review of the updated information regarding the Secure Act 2.0.
The post Secure Act 2.0 Updates and Clarification Continued: EDU #2319 appeared first on The Retirement and IRA Show.
Chris sits down solo this week to discuss listener questions regarding Roth IRA contributions, Social Security benefits, and IRMAA.
(Intro) Chris follows up on a listener question from last week where a listener had panicked on tax day and recharacterized a 2022 Roth contribution.
(8:20) George from New York looks for additional information on his potential age 70 Social Security benefit given his extensive and maximized earnings history.
(19:00) A listener from Washington jokingly asks if Jim and Chris use the alias “George” for clients who are actually named George.
(24:30) George from Ohio looks for advice on the timing of claiming his own as well as his wives Social Security Benefits.
(34:15) George in Virginia asks for clarification on the specifics surrounding his cousins current and future Social Security benefits.
(43:45) A listener in Virginia asks about filing the SSA-44 form and re-evaluating his MAGI/IRMAA as a result of a life changing event.
The post Roth IRA Contributions, Social Security Benefits, and IRMAA: Q&A #2318 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss/review some updated information and clarification regarding the Secure Act 2.0.
The post Secure Act 2.0 Updates and Clarification: EDU #2318 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, Roth IRA recharacterizations, and 403(b)’s.
(6:45) A Massachusetts listener wonders what her Social Security survivorship benefit would be if her husband were to claim benefits early at age 62.
(16:00) A Connecticut listener asks for clarification on the timing of claiming your Social Security benefit and when the first payment will arrive.
(25:00) George from Minnesota asks about Roth IRA recharacterizations and how to let the IRS know about a recharacterization.
(49:00) A listener wonders if they have to file anything with the IRS for his wife to begin taking age 55 distributions from her 403(b) account.
The post Social Security, Roth IRA Characterizations, and 403(b)’s: Q&A #2317 appeared first on The Retirement and IRA Show.
Chris sits down solo while Jim is away traveling to dive deep into a couple of Social Security questions from listeners.
The post Diving Deep On Social Security: EDU #2317 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, trusts, IRA contributions, and deferred compensation plans.
(4:30) A Californian listener asks about his sisters age 70 full Social Security benefit amount given her unique situation.
(11:30) This was a continuation on a question addressed last year regarding funding a bypass trust at death.
(37:00) A listener looks for clarification on how to carry forward excess IRA contributions in subsequent years and how to allocate future contribution limits to reduce the excess contribution.
(50:45) Jim and Chris share a story about a podcast listener and his very dire warning to people participating in a company’s non-qualified deferred compensation plan.
The post Social Security, Trusts, IRA Contributions and Deferred Compensation Plans: Q&A #2316 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss how Jim’s recent basement remodel sparked comparisons to his retirement planning philosophy.
The post Basement Remodeling Metaphor: EDU #2316 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listener questions regarding Social Security, WEP, and irrevocable life insurance trusts (ILITs).
(9:00) George from Nebraska looks for clarification on how Government Pension Offsets (GPO) and Windfall Elimination Provision (WEP) affect his Social Security benefit.
(30:15) Georgette asks if she’d be able to claim a Social Security survivor benefit off her husbands benefit if he were to predecease her.
(40:30) A couple of listeners questions regarding irrevocable life insurance trusts (ILITs) and trusts in general. The answer to this question will expand into next weeks episode!
The post Social Security, WEP, and Trusts: Q&A #2315 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on buffered products and considering them as part of a retirement portfolio.
The post Buffered Products In A Retirement Portfolio Part 2: EDU #2315 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions regarding spousal Social Security benefits, life insurance, and taxes.
(9:45) A listener looks for clarification on his wives spousal Social Security benefit.
(20:30) A listener wonders about the maximum family benefit and it’s impact on their Social Security situation.
(38:15) A listener in Pennsylvania looks for an opinion on gifting to children for them to pay the premium on a second to die policy.
(55:45) The same listener from above wonders about their “210” tax number and trying to minimize taxes for all options.
The post Social Security, Life Insurance, and Taxes: Q&A #2314 appeared first on The Retirement and IRA Show.
Jim and Chris discuss a listeners question on how brokered buffered products compare to insurance buffered products and how could he decide if he should consider them as part of his retirement portfolio.
The post Buffered Products In A Retirement Portfolio Part 1: EDU #2314 appeared first on The Retirement and IRA Show.
Jim and Chris answer listeners questions relating to Social Security, inherited IRAs, Roth conversions, portfolio management, and MDF.
(5:15) George from Michigan looks for clarification on his age 70 Social Security benefit calculation.
(16:15) George in Connecticut asks about the calculation for 75% Social Security survivor benefit his disabled son will be eligible for if he and his wife were to pass away.
(25:00) George in Massachusetts wonders about the required minimum distribution (RMD) from an inherited IRA.
(39:00) A listener asks a couple of questions regarding Roth conversions and the rules associated with conversions.
(56:30) A listeners looks for clarification on the ideal way to estimate a portfolio’s value 10 years down the line.
(1:05:00) A listener looks for thoughts on using 30-year Treasuries to cover the remaining portion of their Delay-Period MDF.
The post Social Security, Inherited IRAs, Roth Conversions, Portfolio Management, and MDF: Q&A #2313 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and analyze a recent article surrounding what retirement with less than $1 million dollars in the United States looks like.
The post Retirement In The U.S. With Less Than $1 Million Dollars: EDU #2313 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security, Inherited IRAs, and the Securities Investor Protection Corporation (SIPC).
(13:30) A listener in Georgia asks a couple of questions pertaining to his sister’s ability to claim a Social Security benefit.
(28:00) The same listener from above looks for clarification on the rules relating to his sisters inherited IRA RMDs.
(47:15) A listener in Washington asks about Securities Investor Protection Corporation (SIPC) for brokerage accounts exceeding $500,000 in value given the current US banking crisis.
(1:02:30) A listener from Kentucky looks for advice on the timing of claiming a Social Security benefit when their secure income is projected to cover all needs.
The post Social Security, Inherited IRAs, and The SIPC: Q&A #2312 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on several different questions posed by the Ed Slott group exam.
The post Retirement and IRA Questions From Ed Slott Part 3: EDU #2312 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener’s questions relating to Social Security, Ed Slott, Roth 401(k)’s, and buffered investments.
(8:15) George from California looks for clarification on the affects/timing of Social Security inflationary credits for his wife.
(14:30) A listener asks a quick question about if she can claim a spousal Social Security benefit or not.
(18:45) Jim addresses and corrects an error made on the last EDU #2311 show regarding the Ed Slott exam.
(28:30) A listener from Singapore wonders if he can contribute foreign income excluded from US taxation into a Roth 401(k).
(36:45) A listener asks about the loss of dividend within the buffered investment options that Jim and Chris discussed on a previous show.
The post Social Security, Ed Slott, Roth 401(k)’s, and Buffered Investments: Q&A #2311 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on several different questions posed by the Ed Slott group exam.
The post Retirement and IRA Questions From Ed Slott Continued: EDU #2311 appeared first on The Retirement and IRA Show.
Jim and Chris sit discuss questions relating to Social Security survivor benefits, Roth conversions, taxes, rollovers, and inherited 401(k)’s.
(10:15) A listener asks about Social Security survivor benefits and the ability to turn survivor benefits back on after giving them up previously.
(17:15) A listener from New York asks if claiming a spousal benefit before full retirement age reduces the survivor benefit amount and what the survivor benefit will be.
(22:45) George wonders if he can submit his own form 5329 for a Roth conversion even if an CPA firm has filed his return.
(39:00) George from New York looks for opinions on rolling his 401(k) into an IRA and losing the liability protection from a 401(k) being that he’s a physician.
(48:15) A listener looks for clarification on the inherited IRA and RMD rules for a couple who inherited their sons 401(k).
The post Social Security Survivor Benefits, Roth Conversions, Taxes, Rollovers, and Inherited 401(k)’s: Q&A #2310 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple of questions relating to retirement and IRAs supplied by the Ed Slott group.
The post Retirement and IRA Questions From Ed Slott: EDU #2310 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss questions relating to Social Security, spousal benefits, aging reserve, and fun expenses.
(9:15) A Californian listener asks about his Social Security claiming strategy for spousal and survivor benefits.
(20:45) A listener in Georgia looks for clarification on spousal Social Security benefits following a divorce.
(35:00) Georgette from South Carolina wonders how to go about investing an 81-year old’s aging reserve.
(1:09:45) A listener from California asks for clarification on deciding what’s considered a fun expense versus a minimum dignity floor expense.
The post Social Security, Spousal Benefits, Aging Reserve, and Fun Expenses: Q&A #2309 appeared first on The Retirement and IRA Show.
Chris sits down to discuss the effects that the recent spike in inflation had on Social Security benefits.
The post Inflationary Effects on Social Security: EDU #2309 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, basis in 401(k)’s/IRAs, and the Minimum Dignity Floor (MDF).
(6:15) A listener from Virginia asks for clarification on the timing of filing their Social Security paperwork to receive a spousal benefit.
(18:30) A listener from Minnesota wonders if the IRA keeps track of after-tax basis in 401(k) and IRA style accounts.
(30:00) George from Texas asks about the average percentages that we see clients spending on the different categories of their Minimum Dignity Floor (MDF) in retirement.
(40:30) A listener from Delaware looks for clarification on how to calculate and cover a portion of her Minimum Dignity Floor (MDF) in a survivorship scenario.
The post Social Security, Basis In 401(k)’s/IRAs, and Minimum Dignity Floor (MDF): Q&A #2308 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the approach to the fun number concept and how it can be altered/used in a much smaller portfolio.
The post Altering The Fun Number In A Small Portfolio: EDU #2308 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, WEP, the fun number, and positioning.
(6:30) An Indiana listener looks for clarification on a Social Security survivor benefit and the affects of WEP.
(12:30) George from Maryland asks for clarity on his Social Security benefit.
(23:00) A listener wonders how to adjust her fun number in the middle of a down stock market.
(41:15) George from Maryland asks about how to plan for a prolonged Go-Go phase and how to break up your Go-Go, Slow-Go and No-Go breakdowns.
(1:03:45) A listener from Minnesota wonders how to position his 401(k) assets when his investment options are limited.
The post Social Security, WEP, The Fun Number, and Positioning: Q&A #2307 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, the fun number, and secure income.
(11:00) A listener asks if any Social Security earnings and taxes paid at age 62 onward will impact their future Social Security benefit calculation.
(20:00) A Wisconsin listener looks for clarification on her estimated Social Security PIA and if it includes the 8.70% cost-of-living adjustment.
(23:30) A listener looks to comment on the concept of the fun number and gives an example of how they were able to implement the concept into their personal lives.
(49:30) A listener from Michigan wonders if the concept of the fun number has actually helped clients spend more in retirement as opposed to a safe withdrawal rate.
(1:01:30) A listener from Pennsylvania asks about how the fun number can account for fluctuating amounts of guaranteed income early in retirement.
The post Social Security, The Fun Number, and Secure Income: Q&A #2306 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and follow-up on a few remaining items surrounding the concept of the Fun Number.
The post Fun Number Follow Up: EDU #2306 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, Roth conversions, and retirement spending.
(13:00) Georgette from New York looks for clarification on her Social Security claiming strategy and if her spousal benefit will be reduced.
(19:00) George asks for additional information on disabled children being able to inherit Social Security payments and tax efficient Trust funding.
(52:15) A Californian listener looks for advice on the best retirement account to spend from regarding help with a home purchase for her son.
(1:03:00) A listener asks if he can do a small backdoor Roth contribution to open a Roth IRA and start the 5-year clock.
(1:16:15) A listener wonders if taking a distribution from the converted money market portion of a Roth IRA would violate the 5-year rule.
The post Social Security, Roth Conversions, and Retirement Spending: Q&A #2305 appeared first on The Retirement and IRA Show.
Jim and Chris wrap up their discussion of the Fun Number and what to do once you’ve arrived at your Fun Number.
The post The Fun Number Part 4: EDU #2305 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, pensions, 457b’s, and backdoor Roth contributions.
(11:00) A Texan listener asks if his wives spousal Social Security benefit will be based off half of his original PIA or his PIA adjusted for cost-of-living.
(16:30) A listener in Ohio looks for clarification on the effect that WEP and GPO will have on her Social Security benefits.
(24:45) The same listener from above wonder about the timing of claiming her pension benefit to minimize GPO impact.
(27:15) The same listener from above asks about her Social Security benefit amount if she were to claim at age 62 and delay claiming her pension.
(32:00) The same listener from above wonders about claiming the lump sum pension amount and investing it or annuitizing it.
(39:15) Jim provides some additional clarity on a previously asked question regarding 457(b) accounts.
(49:30) A Michigan listener wonders about his ability to do a backdoor Roth contribution.
The post Social Security, Pensions, 457(b)’s, and Backdoor Roth Contributions: Q&A #2304 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on the concept of the Fun Number and explain HOW they arrive at determining the Fun Number.
The post The Fun Number Part 3: EDU #2304 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security, target date funds, IRMAA, 457(b)’s, dividends, and HSAs.
(6:30) George in the UK looks for clarification on the calculation of his Social Security PIA given his work abroad in Europe and in Canada.
(18:30) George asks about a Social Security survivor benefit for his wife if he were to pass away before claiming at age 70.
(26:00) Georgette from Alabama looks for opinions and thoughts on utilizing a target date fund within a joint brokerage account for future assisted living expenses.
(50:00) George asks about the tax brackets used for IRMAA calculations with tax planning in mind.
(54:30) A Texan listeners wonders about the distribution rules for 457(b) retirement accounts.
(1:00:00) Georgette from New Jersey asks about using dividends from a guaranteed inheritance set aside to help fund their minimum dignity floor (MDF).
(1:07:30) A listener asks about rolling over a portion of their 401(k) upon retirement into their HSA to maximize that years contribution.
The post Social Security, Target Date Funds, IRMAA, 457(b)’s, Dividends, and HSAs: Q&A #2303 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on the concept of the Fun Number to explain the rational behind the concept.
The post The Fun Number Part 2: EDU #2303 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions regarding Social Security, 401(a)’s, RMDs, taxes and 401(k) loans.
(10:30) A listener from New Jersey asks a couple of general questions to try and understand some additional facts about Social Security.
(25:30) A listener from Colorado looks for help with calculating an accurate projection for their age 70 Social Security benefit given the associated COLA.
(34:15) Jim makes an announcement on the Secure Act 2.0 and questions regarding this act moving forward this year.
(37:45) George in Connecticut wonders about the RMD age for 401(a) retirement plans given the Secure Act 2.0.
(45:45) A New Jersey listener lists a section of the Secure Act 2.0 regarding the ability to aggregate annuity payments inside an IRA with the rest of the balance to calculate an RMD.
(1:03:00) A listener wonders about the timing of taxable income when defaulting on a 401(k).
The post Social Security, 401(a)’s, RMDs, Taxes, and 401(k) Loans: Q&A #2302 appeared first on The Retirement and IRA Show.
Jim and Chris begin their detailed discussion on the concept of the fun number and WHY we focus on it as part of our approach.
The post The Fun Number Part 1: EDU #2302 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions and topics relating to stolen identities, Social Security, RMDs, and Roth Conversions.
(Intro) Jim gives an update on his recent operation, and also shares information on his identity being stolen recently.
(34:30) George from Maryland looks for clarification on if his wife can claim a Social Security spousal benefit.
(43:00) Jim discusses an email on the origins of “86”.
(48:30) A listener asks about required minimum distributions (RMDs) and Roth conversions.
(1:03:45) George in Connecticut asks a question regarding the specific timing of taking Social Security.
The post Stolen Identities, Social Security, RMDs, and Roth Conversions: Q&A #2301 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the concept of the “Fun Number” and how we go about estimating the fun number.
The post Prologue To Discussing The Fun Number: EDU #2301 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRA contributions, spousal benefits, and multi-year guaranteed annuities (MYGAs).
(Into) Chris follows up on a question from last week to clarify application of the Social Security earnings test for survivor benefits when the survivor full retirement age is different than the retirement full retirement age.
(11:30) George asks a couple of Social Security questions in an attempt to stump Chris.
(26:15) Jim and Chris explain what to do if you make an IRA contribution and later want to change or undo it.
(43:15) George from Indiana looks for clarification on Social Security spousal benefits.
(51:45) George from Tennessee asks about the best place to purchase multi-year guaranteed annuities (MYGAs).
The post Social Security, IRA Contributions, Spousal Benefits, and MYGAs: Q&A #2253 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answers listeners questions regarding Social Security, 403(b)’s, 60-day rollovers, and annuities.
(5:00) George from California asks about how Social Security accounts for post-age 62 working credits.
(12:15) A listener looks for clarification on a potential “miss for Social Security applying to folks born in 1960-1962.
(19:30) George wonders why Jim and Chris have suggested rolling funds out of a 403b at retirement.
(34:00) Californian George looks for clarification on the rules surrounding 60-day rollovers.
(47:45) A listener asks if they can still use a 60-day rollover to return excess back into an IRA if they’re retired and have no earned income.
(49:45) A listener asks for advice and comparison of a QLAC and a SPDIA.
The post Social Security, 403(b)’s, 60-Day Rollovers, and Annuities: EDU #2252 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to spousal Social Security benefits, survivor benefits, inherited IRAs, RMDs, and annuities.
(16:00) Georgette wonders if she can claim a spousal Social Security benefit without affecting her future full personal benefit.
(26:30) A listener looks for clarification on his sisters ability to claim a Social Security survivor benefit.
(37:45) The same listener from above asks about the stretch RMD rules for inherited IRAs with regard to his sister and her inherited IRA.
(52:00) George from Texas looks for an alternative instrument to provide guaranteed income other than an annuity.
The post Social Security, Inherited IRAs, RMDs and Annuities: Q&A #2252 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a handful of different retirement planning topics that came up throughout the year.
The post Miscellaneous Retirement Planning Topics: EDU #2251 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, Roth conversions, MDF, HSAs, and financial advisors.
(6:00) George asks a question on the mechanics of Social Security auxiliary benefits.
(15:15) A listener wonders if he can still do a 60-day rollover for a Roth conversion if he has no earned income.
(18:00) George from the UK looks for clarification on how to fund his minimum dignity floor (MDF) until he claims Social Security at age 70.
(33:45) A listener from New York looks to understand why he is not receiving the maximum Social Security benefit for someone who started claiming at age 70.
(44:30) George from Ohio wonders why someone would want to donate a portion of their health savings account (HSA) balance to a charity.
(51:00) A listener from New Mexico wonders if he husband should file for Social Security first to allow her to collect a spousal benefit.
(55:30) A listener looks for a pertinent list of questions to ask a commission based financial advisor when interviewing them.
The post Social Security, Roth Conversions, MDF, HSAs, and Financial Advisors: Q&A #2251 appeared first on The Retirement and IRA Show.
Jim, Chris, and in-house CPA, Bob Palechek sit down to discuss listeners questions regarding a variety of tax topics.
(18:00) Georgette from Ohio looks for clarification on the wash sale rules.
(37:15) A listeners wonders about the best time to claim Social Security and the timing for some potential Roth conversions.
(54:30) A listener asks if they can still make a deductible HSA contribution after doing a Roth conversion and having no W2 wages.
(59:45) George asks about the impacts of IRMAA for his parents and if they can recharacterize a Roth conversion.
The post Questions Relating To Taxes: EDU #2250 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, 60-day rollovers, HSAs, and bond ladders.
(12:45) George from Kentucky wonders if a spousal Social Security benefit will benefit from a cost of living adjustment (COLA).
(20:00) George in Oregon asks a couple of questions regarding the 60-day IRA rollover strategy that was mentioned on a previous show.
(32:45) A listener wonders if everyone in their family needs to be under a high deductible health plan to contribute the maximum amount into an HSA.
(42:00) A listener from Pennsylvania asks if he can leave a remaining HSA balance to his donor advised fund upon his passing.
(48:30) George asks if he and his wife can continue to contribute to their HSA even though they’re currently working overseas.
(51:30) A listener from Michigan looks for the guys to discuss some topics surrounding bond ladders.
The post Social Security, 60-Day Rollovers, HSAs, and Bond Ladders: Q&A #2250 appeared first on The Retirement and IRA Show.
Jim, Chris, and in-house long-term care expert, Greg Darden sit down to discuss a handful of listeners questions relating to long-term care insurance.
(15:00) A listener wonders if she is too late to purchase long-term care insurance.
(37:10) George from North Carolina looks for opinions on his assessment of potentially obtaining long-term care insurance.
(50:00) A Californian listener looks for clarification on the difference between minimum dignity floor (MDF) and fun spending as well as what happens to the MDF when he goes into nursing care for long-term care.
(1:01:30) George in California asks about whether a positive outcome to a heart test will benefit his chances of qualifying for long-term care insurance.
The post Questions On Long-Term Care (LTC): EDU #2249 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and answer listeners questions regarding Social Security, IRAs, and taxes.
(12:45) A listener from New Jersey wonders why someone would file a restricted application for Social Security.
(20:00) A listener from Indiana looks for clarification on a potential IRA rollover strategy to stay below IRMAA limits.
(51:00) George from California wonders about having a Trust listed as beneficiary on an IRA.
(58:15) A listener from Illinois asks about the timing of the inflationary adjustments for Social Security benefits.
(1:01:15) The same listener from Illinois comments on a previous podcast regarding the widow-widower tax penalty.
(1:07:55) As a final question from the Illinois listener above, he wonders about a specific case and whether or not someone can claim a Social Security survivorship benefit.
The post Social Security, IRAs, and Taxes: Q&A #2249 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a Market Watch article regarding the top five concerns for people over the age of 50.
The post Discussing The Top Five Concerns For People Over Age 50: EDU #2248 appeared first on The Retirement and IRA Show.
From all of us at Jim Saulnier & Associates, have a happy Thanksgiving with family and friends!
The post Thanksgiving Break: Q&A #2248 appeared first on The Retirement and IRA Show.
From all of us at Jim Saulnier & Associates, have a happy Thanksgiving with family and friends!
The post Thanksgiving Break: EDU #2247 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to spousal benefits, investing, Roth conversions, trusts, and MYGAs. (7:45) Georgette from New York looks for clarification on the possible reduction of spousal Social Security benefits. (15:30) A Californian listener wonders if it makes sense to sell some of his bond funds that are currently […]
The post Spousal Benefits, Investing, Roth Conversions, Trusts, and MYGAs: Q&A #2247 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss some of the details surrounding rolling over dollars from a 401(k) into an IRA.
The post 401(k) to IRA Rollovers: EDU #2246 appeared first on The Retirement and IRA Show.
Jim, Chris, and in-house long-term care expert, Greg Darden discuss listeners questions relating to Social Security and long-term care (LTC). (5:30) George from Michigan looks for clarification on spousal Social Security benefits for his wife. (13:00) Jim and Chris follow-up on an additional question from the listener on this last weeks EDU show #2245 relating […]
The post Social Security and Long-Term Care (LTC) Continued: Q&A #2246 appeared first on The Retirement and IRA Show.
Jim, Chris, and in-house aging/long-term care (LTC) expert, Greg Darden sit down to discuss and answer a couple questions on long-term care.
The post Discussing Long-Term Care (LTC): EDU #2245 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, 72t IRA rules, and the timing for hiring a financial advisor. (16:15) George from Texas looks for clarification on the effects WEP will have on his spouses Social Security estimated benefit. (33:30) A Michigan listener wonders about Social Security amounts in high […]
The post Social Security, 72t IRA Rules, and Hiring A Financial Advisor: Q&A #2245 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and give their thoughts on a short article from Barron’s online titled, “Retired? Here are Three Things You Need To Get Right”.
The post Discussing An Article On Retirement: EDU #2244 appeared first on The Retirement and IRA Show.
Chris and in-house CPA, Bob Palechek sit down to discuss listeners questions relating to wash sales, Roth conversions, and required minimum distributions (RMDs). (6:00) George from California wonders if he can sell funds at a loss in his brokerage account and immediately repurchase identical shares in a Roth IRA to avoid the wash sale rule. […]
The post Wash Sale Rules, Roth Conversions, and RMDs: Q&A #2244 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a tax court case that has finally come to resolution regarding IRAs. The case memo is: 2020-69.
The post Tax Court Case Resolution and Discussion: EDU #2243 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, FDIC/SPIC insurance, inherited IRAs, rollovers, and IRA distributions. (6:00) Georgette in Georgia wonders about the accuracy of her Social Security statement. (15:30) The same listener from above looks for advice on her and her husbands Social Security claiming strategy. (37:45) A Texan […]
The post Social Security, FDIC/SPIC Insurance, Inherited IRAs, and Rollovers: Q&A #2243 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss an IRS notice 2022-53 entitled, Certain Required Minimum Distributions (RMDs) for 2021 and 2022.
The post IRS Notice on Required Minimum Distributions (RMDs): EDU #2242 appeared first on The Retirement and IRA Show.
Chris sits down on a solo episode to discuss listener questions relating to Social Security, spousal benefits, PIA, and pensions. (5:00) A listener comments on wage inflation for Social Security benefits. (15:30) A listener wonders when to get married and how to strategize spousal Social Security benefits. (20:25) A listener looks for advice and clarification […]
The post Social Security, Spousal Benefits, PIAs, and Pensions: Q&A #2242 appeared first on The Retirement and IRA Show.
Chris sits down to do a solo show discussing the nuances of calculating the Social Security primary insurance amount (PIA) and how this calculation can be affected by inflationary adjustments.
The post Calculating Social Security PIA and Inflationary Adjustments: EDU #2241 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to IRAs, HSAs, Social Security, annuities, IRMAA, and secure income. (19:30) A couple of listeners ask about the advantages and disadvantages to funding an health savings account (HSA) with qualified distributions from an IRA. (27:15) A listener wonders if the responsibility to “elect” or “request” […]
The post IRAs, HSAs, Social Security, Annuities, IRMAA, and Secure Income: Q&A #2241 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a recent paper from the Center For Retirement Research about retirees and the different risks they face in retirement.
The post Risks Retirees Face In Retirement: EDU #2240 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, COLAs, PIAs, annuities, and fun spending. (7:30) A listener asks about the restricted application strategy for Social Security and how it’s monitored/regulated. (16:30) George from Ohio looks for clarification on his spouses Social Security benefit and cost of living adjustment (COLA) for […]
The post Social Security, COLAs, PIAs, Annuities, and Fun Spending: Q&A #2240 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss/comment on a California listener’s email surrounding a couple elements of his retirement plan and Indexed Universal Life Insurance (IUL) policies.
The post Elements of Retirement and Indexed Universal Life Insurance (IUL): EDU #2239 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, annuities, and life insurance. (27:30) A Massachusetts listener looks for clarification on his retroactive Social Security benefit. (31:45) George from Kentucky wonders if he can claim a Social Security survivor benefit while delaying his own benefit to age 70. (38:45) George from […]
The post Social Security, Annuities, and Life Insurance: Q&A #2239 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a Wall Street Journal article surrounding the topic of mutual funds and the Investment Advisers Act of 1940.
The post Mutual Funds and The Investment Advisers Act of 1940: EDU #2238 appeared first on The Retirement and IRA Show.
Chris and inhouse CPA, Bob Palechek discuss listener questions relating to ACA credits, RMD taxation, IRMAA, and tax diversification. (3:45) A listener in Arizona looks for clarification on how planning for ACA credits should fit into retirement withdrawals. (26:30) Georgette from Texas asks if the RMD total includes Federal tax or if the remainder of […]
The post ACA Credits, RMDs, IRMAA, and Tax Diversification: Q&A #2238 appeared first on The Retirement and IRA Show.
Chris sits down to do a solo episode on the different ways to NOT receive Social Security benefits.
The post Ways To NOT Receive Social Security Benefits: EDU #2237 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listener questions regarding Social Security, Revocable Living Trusts, VAs, SPIAs, and 401(k) contributions. (4:45) A Texan asks a question about Social Security benefit calculators. (10:30) A New Jerseyan wonders how naming their checking account as owner of a revocable living trust will affect their Social Security direct deposits. […]
The post Social Security, Revocable Living Trusts, VAs, SPIAs, and 401(k) Contributions: Q&A #2237 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to wrap up their discussion on the Minimum Dignity Floor (MDF) series and answer a few listeners questions.
The post All About The Minimum Dignity Floor (MDF) Part 6: EDU #2236 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, estate planning, Roth conversions, life insurance, and retirement planning. (8:30) A Floridian listener asks about his spouses Social Security benefit amount. (18:45) A Texan listener wonders how to determine his adjusted PIA amount to determine his age 70 benefit. (24:45) George in […]
The post Social Security, Estate Planning, Roth Conversions and Retirement Planning: Q&A #2236 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on the Minimum Dignity Floor (MDF) and answer a couple of listeners questions.
The post All About The Minimum Dignity Floor (MDF) Part 5: EDU #2235 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security and inherited IRAs. (4:00) A Connecticut listener asks about counting Social Security earnings history prior to the age of 22. (12:30) A listener from Washington looks for clarification on the amount of a Social Security survivor benefit. (15:45) An Illinois listener follows-up […]
The post Social Security and Inherited IRAs: Q&A #2235 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on the concept of the Minimum Dignity Floor (MDF). This weeks discussion is focused on the taxes relating to the MDF as well as the accuracy of secure income projections that make up the MDF.
The post All About The Minimum Dignity Floor (MDF) Part 4: EDU #2234 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss questions relating to Social Security, WEP, disability benefits, and inherited IRAs. (7:30) A listener looks for confirmation on when to claim Social Security benefits to ensure they receive the full 6 months of benefits. (17:45) The same listener from above wonders about the affects of WEP on her […]
The post Social Security, WEP, Disability Benefits, and Inherited IRA RMDs: Q&A #2234 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on their concept of the Minimum Dignity Floor (MDF), specifically how secure income can be used to cover shortages.
The post All About The Minimum Dignity Floor (MDF) Part 3: EDU #2233 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss questions relating to Social Security cost-of-living adjustments (COLAs), 401(k) contribution rules, and inherited IRAs. (6:30) A Kansas listener asks a quick question about how she can change her address on her Social Security card. (10:00) A listener asks for the specifics on how exactly Social Security COLAs are […]
The post Social Security COLA, 401(k) Contribution Rules, and Inherited IRAs: Q&A #2233 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion from last weeks EDU show on the Minimum Dignity Floor (MDF).
The post All About The Minimum Dignity Floor (MDF) Part 2: EDU #2232 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to pension rollovers, Social Security benefits, RMDs, mitigating sequential risk, and secure income. (3:15) PSA; A listener from Alabama links to an article about Alabama not taxing pensions that are rolled into IRAs. (9:45) A Virginian listener wonders about the best way to find his estimated Social Security […]
The post Pensions, Social Security, RMDs, Sequential Risk, and Secure Income: Q&A #2232 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple of listener emails relating to our concept of the Minimum Dignity Floor (MDF).
The post All About The Minimum Dignity Floor (MDF) Part 1: EDU #2231 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Roth conversions, RMDs, Social Security and retirement planning. (7:00) A Texan listener makes a comment about 1035 exchanges. (10:30) A listener from Seattle looks for quick clarification on a Roth conversion question. (14:50) George from New Jersey asks about how his wife should handle […]
The post Roth Conversions, RMDs, Social Security, and Retirement Planning: Q&A #2231 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listeners email topic relating to RMDs and the basics of required minimum distributions.
The post RMD Basics: EDU #2230 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security, the CARES Act, PTE 2020-02, Roth conversions, and retirement planning. (4:15) A listener looks for clarification on the rules of spousal Social Security benefits. (13:45) George asks about the Social Security earnings test for collecting survivor benefits. (26:15) A listener wonders about the IRS 2020-50 […]
The post Social Security, CARES Act, Roth Conversions, and Retirement Planning: Q&A #2230 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listeners email and try to learn from their experience in retirement.
The post Learning From A Listeners Email: EDU #2229 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the recent IRS Revenue Procedure 2022-32 and what you need to know if you plan to file for the estate tax exemption of a deceased spouse. They explain how this new ruling may enable more surviving spouses to shield their future estate from potential future estate taxes. Afterwards, […]
The post DSUE, Social Security, Trusts, and Pensions: Q&A #2229 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the new Department of Labor rule titled, PTE 2020-02, regarding the rollover of retirement accounts.
The post PTE 2020-02 Discussion: EDU #2228 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security benefits, inherited IRAs, and buffered ETFs. (12:15) Georgette from Connecticut asks about the rules surrounding when to claim a spousal Social Security benefit. (23:00) Georgette wonders is Social Security benefits only get increased annually after hitting full retirement age. (30:00) George from […]
The post Social Security, Inherited IRAs, and Buffered ETFs: Q&A #2228 appeared first on The Retirement and IRA Show.
Chris and Bob sit down to discuss a handful of older, listener prompted questions relating to the details of IRMAA.
The post Discussing IRMAA: EDU #2227 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, lump sum pensions, and deferred annuities. (4:15) George from Indiana looks for advice on the exact month he should file for his Social Security benefits to get the maximum deferred credit amount. (14:30) A Michigan listener asks for recommendations on a good, […]
The post Social Security, Lump Sum Pensions, and Deferred Annuities: Q&A #2227 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion from a previously asked question about annuities under the new fee based platform.
The post Fee Based Annuities: EDU #2226 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions about Social Security benefits and fixed-indexed annuities. (26:00) A listener follows-up on a question from a previous show to ask about how divorce would affect her Social Security benefits. (33:30) PSA about our monthly newsletter. (42:00) A listener looks for thoughts and advice on commission-free fixed-indexed […]
The post Social Security Benefits and Fixed-Indexed Annuities: Q&A #2226 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a recent Barron’s article about retirees struggles to spend down their nest egg in retirement.
The post Struggles Spending Down Nest Egg In Retirement: EDU #2225 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions about Social Security, Roth conversions, and annuity mortality credits. (3:30) George in North Carolina looks for clarification on his spouses Social Security benefit and whether or not it will be WEP/GPO affected. (8:30) A listener from Wisconsin asks about the calculation for the pro-rata amount on […]
The post Social Security, Roth Conversions, and Mortality Credits: Q&A #2225 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the current state of the investment market and how it potentially coincides with your retirement.
The post The Current Investment Market and Retirement: EDU #2224 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions about Social Security, IRA recharacterizations, and annuities. (18:15) A listener looks for advice on whether or not she should claim her spousal Social Security benefit. (33:30) A listener describes her concern about a previously completed IRA recharacterization. (50:30, 1:12:15, 1:14:30) George asks a couple of questions […]
The post Social Security, IRA Recharacterizations, and Annuities: Q&A #2224 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on the IRS’s proposed interpretations and implementations of the SECURE Act.
The post IRS Guidance On RMDs and The Secure Act Part 3: EDU #2223 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions on backdating Social Security benefits, IRA recharacterizations, and RMDs. (8:15) A listener from Washington would like some clarity on backdating their Social Security benefits. (21:30) Georgette is wondering what the tax consequences are on recharacterizing a Roth IRA contribution to a Traditional IRA contribution with a […]
The post Backdating Social Security Benefits, IRA Contribution Recharacterizations, and RMDs: Q&A #2223 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on the IRS’s proposed interpretations and implementations of the SECURE Act.
The post IRS Guidance On RMDs and The Secure Act Part 2: EDU #2222 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss questions relating to Social Security, the SECURE Act, SSDI, and 401(k) investment options. (8:00) George wonders about the cost-of-living adjustment for his PIA and Social Security benefit. (13:30) A listener from Connecticut asks about the unique Social Security issue that people born in 1960 are facing. (22:15) George […]
The post Social Security, The SECURE Act, SSDI, and 401(k) Investments: Q&A #2222 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the IRS guidance/ideas surrounding RMDs (Required Minimum Distributions) and the SECURE Act.
The post IRS Guidance On RMDs and The Secure Act Part 1: EDU #2221 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener topics relating to Social Security, rollovers, taxes, and FERS. (9:40) A listener from North Dakota asks about what percentage of Social Security tax is being withheld from her paycheck. (12:30) George wonders if his brother, who didn’t initially pay into Social Security will be allowed to include […]
The post Social Security, Rollovers, Taxes, and FERS: Q&A #2221 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple of interesting topics that Jim learned about at the recent Ed Slott group conference.
The post Ed Slott Group Conference Topics: EDU #2220 appeared first on The Retirement and IRA Show.
Chris and Bob sit down to discuss listeners questions relating to tax mitigation, RMDs, and Roth conversions. (5:00) Georgette is wondering what she and her husband can do now to lower their tax burden in retirement. (19:00) An Iowan is looking for a strategy to reduce their future Required Minimum Distributions (RMDs). (31:30) A listener […]
The post Tax Mitigation, RMDs, and Roth Conversions: Q&A #2220 appeared first on The Retirement and IRA Show.
Chris sits down on his lonesome to discuss the basics and things everyone should know about Social Security.
The post Things Everyone Should Know About Social Security: EDU #2219 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss question relating to Social Security, pensions, gifting, TIPS, and inheritance. (5:45) A listener provides some additional input on a Social Security question addressed in a previous QA show. (15:00) A listener looks for clarification on if survivorship benefits from a pension will reduce his Social Security benefit. (25:00) […]
The post Social Security, Pensions, Gifting, TIPS, and Inheritance: Q&A #2219 appeared first on The Retirement and IRA Show.
Jim and Chris discuss some of the interesting topics that Jim learned at the estate planning symposium that he recently attended.
The post Estate Planning Symposium Topics: EDU #2218 appeared first on The Retirement and IRA Show.
Chris and in-house long-term care expert, Greg Darden, CFP® discuss listener questions relating to everything long-term care (LTC). (6:15) A Californian listener wonders about the depth that LTC carriers go into when reading medical test results. (18:30) George from California asks about long-term care inflation rates and planning for long-term care expenses. (27:00) George from […]
The post Everything Long-Term Care (LTC): Q&A #2218 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and clarify listeners questions relating to our asset management concept of positioning.
The post Clarification On Asset Positioning: EDU #2217 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security WEP/GPO, child-in-care, spousal benefits, Roth conversions, and annuities. (12:00) George from North Carolina looks for clarification on his wives Social Security benefit and the affects of WEP/GPO. (22:15) A listener asks about their possible benefits for Social Security spousal, child-in-care, and family maximum benefits given their […]
The post Social Security WEP/GPO, Roth Conversions, and Annuities: Q&A #2217 appeared first on The Retirement and IRA Show.
Jim and Chris discuss a Wall Street Journal article about the 4% safe withdrawal approach to retirement and why they don’t believe in it.
The post The 4% Rule: EDU #2216 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listener questions relating to Social Security, fixed index annuities, Roth rollovers, and inherited annuities. (4:30) Georgette looks to follow-up on a question asked in Q&A #2215 regarding the forfeiture of SSA funds if an individual dies prior to claiming. (12:30) George from California looks for opinions and advice on fixed index […]
The post Social Security, Fixed Index Annuities, Rollovers, and Inherited Annuities: Q&A #2216 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the rather philosophical topic of differing approaches to retirement and longevity of retirement.
The post Differing Approaches To Retirement: EDU #2215 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listeners questions relating to Social Security, Medicare, life insurance, and retirement planning. (6:45) A listener from Connecticut asks if his mother can reclaim monies she previously contributed to Social Security if she’s not going to receive a benefit. (12:45) A listener in New York has a question about […]
The post Social Security, Medicare, Life Insurance, and Retirement Planning: Q&A #2215 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to elaborate on the concept of the Minimum Dignity Floor (MDF) from it’s inception to the current iteration.
The post The Minimum Dignity Floor (MDF): EDU #2214 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to WEP, Social Security, annuities, Roth conversions, and taxes. (2:30) George from California has a question about WEP and whether or not he should try to earn a few more Social Security credits. (20:00) George from Pennsylvania looks for clarification on purchasing an annuity with […]
The post WEP, Social Security, Annuities, and Roth Conversions: Q&A #2214 appeared first on The Retirement and IRA Show.
Jim and Chris dissect a listener’s question on how to treat a variable annuity in his retirement portfolio when funding an income shortfall.
The post Variable Annuities In Retirement Portfolios: EDU #2213 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions regarding Social Security, home equity, Roth conversions, QLACs, SPIAs, RMDs, 5-Year Rule, TOD accounts, and retirement estimators. (3:45) George asks if his Primary Insurance Amount (PIA) will increase with inflation while he delays his Social Security benefit to age 70. (15:30) A listener wants to know […]
The post Social Security, Home Equity, Roth Conversions, QLACs, SPIAs, RMDs, 5-Year Rule, TOD Accounts, and Retirement Estimators: Q&A #2213 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue answering listeners questions relating to the five part series on why we manage assets our way.
The post Why We Manage Assets Our Way Q&A Part 2: EDU #2212 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to spousal Social Security benefits, Roth conversions, rollovers, and pensions. (10:30) George from Michigan looks for clarification on the potential benefit of a spousal benefit for his wife. (24:00) George from Connecticut lays out his plan for multi-year Roth conversions and prioritizing the “0” in his 210 tax […]
The post Spousal Social Security, Roth Conversions, Rollovers, and Pensions: Q&A #2212 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listeners questions relating to the five part series on why we manage assets our way.
The post Why We Manage Assets Our Way Q&A Part 1: EDU #2211 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions regarding Social Security, beneficiaries, accidental rollovers, and Trusts. (3:15) A Michigan listener looks for clarification on the timing of potentially claiming a spousal Social Security benefit. (12:45) George from New York asks about beneficiaries and the concept of disclaiming inherited assets. (29:45) A listener looks for […]
The post Social Security, Beneficiaries, Accidental Rollovers, and Trusts: Q&A #2211 appeared first on The Retirement and IRA Show.
Jim and Chris discuss the fifth part in our series discussing why we manage assets our way and how we structure our fees.
The post Why We Manage Assets Our Way Part 5: EDU #2210 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Roth conversions, backdoor Roth contributions, and Social Security taxation/COLA adjustments. (PLEASE RE-DOWNLOAD THE PODCAST FOR THE EDITED AND UPDATED AUDIO FILE) (9:00) A listener from Florida looks to get clarity on how her German earnings can be taken into account by the SSA to get an accurate estimate […]
The post Roth Conversions, Backdoor Contributions, and Social Security Taxation/COLA: Q&A #2210 appeared first on The Retirement and IRA Show.
Jim and Chris discuss the fourth part in our series discussing why we manage assets our way and the concept of positioning.
The post Why We Manage Assets Our Way Part 4: EDU #2209 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security, the five year rule, taxation of lump-sum pension payouts, and rollovers. (11:30) An Ohio listener looks for advice on the best Social Security claiming strategy for his sister in Tennessee. (28:00) A Massachusetts listener looks for clarification on the five year rule and opening a Roth […]
The post Social Security, The Five Year Rule, Pensions, and Rollovers: Q&A #2209 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss part three of our series on how we approach asset management here at Jim Saulnier & Associates.
The post Why We Manage Assets Our Way Part 3: EDU #2208 appeared first on The Retirement and IRA Show.
Jim, Chris, and in-house CPA, Bob Palechek discuss tax specific questions relating to MDF spending, tax diversification, Roth conversions, and IRMAA. (3:30) A member of the Rock Retirement Club requests clarification on how we account for taxes in our Minimum Dignity Floor concept of funding a retirement spending plan. (16:15) George from North Carolina asks […]
The post Tax Diversification, Roth Conversions, and IRMAA: Q&A #2208 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on why we approach asset management our way at Jim Saulnier & Associates.
The post Why We Manage Assets Our Way Part 2: EDU #2207 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions pertaining to Social Security, RMDs, special needs trusts, and Roth conversion rules. (4:00) A listener voices his concerns with Social Security part D price increases and the general increase of insurance costs. (22:30) George looks for clarification on whether or not his dad needs to send […]
The post Social Security, RMD Taxes, Trusts, and Roth Conversions: Q&A #2207 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the first part in a new series discussing WHY we manage assets our way at Jim Saulnier & Associates.
The post Why We Manage Assets Our Way: EDU #2206 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, Roth conversions, 403(b)’s, and other retirement accounts. (26:00) An Indiana listener wonders about the Social Security COLA adjustment for disability benefits. (28:45) George from Georgia looks for suggestions on getting information regarding a SSA-1099 form. (35:00) A listener looks for clarification on […]
The post Social Security, Roth conversions, and 403(b) Accounts: Q&A #2206 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and focus on the frequently asked questions relating to estate planning and Trusts.
The post All About Trusts: EDU #2205 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Child-In-Care benefits, Trusts as beneficiaries, Social Security disability benefits, and the rule of 55. (5:00) A listener looks for clarification regarding the Child-In-Case Spousal Social Security benefit. (16:30) A listener asks about 401(k) beneficiary distributions and listing a secondary beneficiary as a Trust. (53:30) George from Connecticut wonders […]
The post Child-In-Care Benefits, Trusts, Disability Benefits, and The Rule Of 55: Q&A #2205 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the topic of market volatility and its often misunderstood relationship with spending in retirement.
The post Market Volatility and Spending In Retirement: EDU #2204 appeared first on The Retirement and IRA Show.
Jim and Chris answer questions relating to Social Security, 403(b) QCDs, Roth IRA contribution limits, Roth conversions, and investing. (5:30) George from Pennsylvania asks about potentially pausing his Social Security benefit. (13:15) George from Alabama looks for clarification on the rules behind making QCDs in a 403(b) account. (22:00) George from New Mexico looks for […]
The post Social Security, 403(b)s, Roth IRAs, Conversions, and Investing: Q&A #2204 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss an Ohio listeners general question about making excess contributions to a Roth IRA.
The post Excess Roth IRA Contributions: EDU #2203 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions pertaining to Social Security survivor benefits, WEP, estate tax, donor advised funds (DAFs), and QLACs. (7:00) A Washington listener asks about how to claim a Social Security survivor benefit. (12:45) A Missouri listener looks for advice on determining the effects WEP will have on her and her husbands Social Security […]
The post Survivor Benefits, WEP, Estate Tax, DAFs, and QLACs: Q&A #2203 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to take a deep dive and address the basics of Qualified Charitable Distributions (QCDs).
The post Qualified Charitable Distributions (QCDs): EDU #2202 appeared first on The Retirement and IRA Show.
Chris and Bob discuss questions from listeners relating to QCDs, inherited IRAs, contribution limits, and capital gains tax on properties. (4:30) A Texan listener looks for advice on either paying taxes from an IRA or making qualified charitable distribution (QCD). (19:00) An Indianan listener asks how an inherited IRA affects the ability to do a […]
The post QCDs, Inherited IRAs, Contribution Limits, and Capital Gains Tax: Q&A #2202 appeared first on The Retirement and IRA Show.
Jim, Chris, and Bob sit down to discuss 210 tax planning and how tax order is important when doing advanced tax planning.
The post 210 Advanced Tax Planning: EDU #2201 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, spending in retirement, and the Build Back Better Act. (7:45) A California listener looks for thoughts/opinions on a recently suggested Social Security claiming strategy. (28:45) A Texan listener brings up our thoughts/philosophy that money unspent in retirement, is potentially money unlived. (43:30) […]
The post Social Security, Spending In Retirement, and The BBB Act: Q&A #2201 appeared first on The Retirement and IRA Show.
Jim, Chris, and Bob sit down to discuss and answer multiple tax-focused questions in the final EDU show of the year. (6:30) George from Texas asks about the potential taxation resulting from trading cryptocurrencies. (13:00) George from New York looks for clarification on Roth conversions, IMRAA, and tax filing status. (25:30) A Virginian listener looks […]
The post Addressing Tax-Focused Questions: EDU #2152 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss Social Security, I-Bonds, Roth conversions, pension benefits, and advice for new financial planners. (16:00) A New Jersey listener looks for advice on collecting, suspending, and restarting his spouses Social Security benefit. (30:00) Jim and Chris respond to listener feedback from last weeks EDU show regarding I-Bonds. (35:45) Jim […]
The post Social Security, I-Bonds, Roth Conversions, Pension Benefits, and Advice For New Financial Planners: Q&A #2152 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listener prompted topic regarding secure income via SPIAs, CRATs, CRUTs, and automatic IRA distributions.
The post SPIAs, CRATs, CRUTs, and IRAs: EDU #2151 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, I-Bonds, 401(k) plans, and Roth conversions. (3:30) A Massachusetts listener looks for answers on a survivorship scenario involving his spouses pension and his Social Security benefit. (7:00) A listener from Idaho asks for advice on the optimal Social Security claiming strategy for […]
The post Social Security, I-Bonds, 401(k) Plans, and Roth Conversions: Q&A #2151 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss some input for a listener proposing a way to fund the minimum dignity floor (MDF).
The post Funding The Minimum Dignity Floor: EDU #2150 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, the pro-rata rule, Roth conversions, and positioning. Intro: Jim and Chris discuss the recent court case involving gold within an IRA as well as the delay to complete 2021 Roth conversions and some potential strategies to combat this. (31:15) George from Texas […]
The post Social Security, Pro-Rata Rule, Roth Conversions, and Positioning: Q&A #2150 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue discussing our concept of the “Fun Number” and planning around a fun number.
The post Discussing The Fun Number Continued: EDU #2149 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security, inherited Roth IRAs, SEP IRAs, disability pay, and trusts as beneficiaries. (11:15) George from Michigan looks for clarification on Social Security spousal benefits. (21:15) A listener lists his concerns for spousal inheritance of a Roth IRA. (24:15) A listener asks about opening a SEP IRA to […]
The post Social Security, Inherited Roth IRAs, SEP IRAs, Disability Pay, and Trusts As Beneficiaries: Q&A #2149 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple of listener emails regarding our “fun number” concept and planning around a fun number.
The post Discussing The Fun Number: EDU #2148 appeared first on The Retirement and IRA Show.
Chris provides a brief update on Thanksgiving break and when we’ll be back to regularly scheduled programming.
The post Thanksgiving Break: QA appeared first on The Retirement and IRA Show.
Chris provides a brief update about the upcoming Thanksgiving break and when we’ll be back to regularly scheduled programming.
The post Thanksgiving Break: EDU appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security benefits, Roth 401(k) rollovers, inherited Roth IRAs, and Roth conversions. (5:30) A couple of California and Colorado listeners try and provide some clarification on estimating your Social Security benefit with no future estimated earned income. (18:00) A listener aims to provide some insight on rolling […]
The post Social Security, Roth 401(k) Rollovers, Inherited Roth IRAs, and Roth Conversions: Q&A #2147 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss an email from a listener regarding the overall essence of financial planning and retirement planning.
The post The Essence Of Retirement Planning: EDU #2146 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, Roth 401(k)s, fun spending, and saving for college. (7:00) A listener from Connecticut asks about how to get a more accurate estimate of his future Social Security benefit. (13:30) George from North Carolina looks for clarification on Roth 401(k) plans and their […]
The post Social Security, Roth 401(k)s, Fun Spending, and Saving For College: Q&A #2146 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple tax court cases and private letter rulings from Jim’s most recent Ed Slott group training.
The post Tax Court Cases and Private Letter Rulings: EDU #2145 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to average wage index, Social Security, mega backdoor Roth conversions, solo 401(k) contribution limits, and qualified retirement plans. (20:00) A listener asks about the average wage index (AWI) for workers born in 1960 and the effects of COVID in 2020. (23:00) A listener points out some social security […]
The post Mega Backdoor Roth Conversions, Social Security, Solo 401(k)’s, and Qualified Retirement Plans: Q&A #2145 appeared first on The Retirement and IRA Show.
Chris and in house CPA, Bob Palechek sit down to discuss updates to the potential tax changes within the proposed Build Back Better Act as well as a listeners in-depth tax question.
The post Updates To Proposed Tax Changes In BBB Act and Misc. Tax Discussion: EDU #2144 appeared first on The Retirement and IRA Show.
Chris sits down with in-house CPA, Bob Palechek, to discuss questions relating to Roth conversions, inherited stock shares, and taxation of military pensions. (4:00) A Kentucky listener looks for clarification on Roth conversions and the definition of net investment income. (27:45) A Pennsylvanian couple asks about estate planning and inheriting shares out of a brokerage […]
The post Roth Conversions, Inherited Stock, and Military Pensions: Q&A #2144 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listener prompted topic relating to nuances with beneficiaries of inherited IRAs.
The post Nuances With Beneficiaries Of Inherited IRAs: EDU #2143 appeared first on The Retirement and IRA Show.
Jim and Chris discuss questions relating to Social Security, JWROS accounts, TSPs, inherited IRAs, backdoor and converted Roth contributions. (9:45) A Wisconsin listener looks for clarification on Social Security Survivor benefits. (12:00) A listener from Arizona looks for advice on when to claim Social Security. (19:00) George from Indiana asks if there’s any advantage to […]
The post Social Security, JWROS Accounts, TSPs, Inherited IRAs, and Backdoor Roth Contributions: Q&A #2143 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss irrevocable life insurance trusts (ILITs) after provisions of the Build Back Better Act.
The post Irrevocable Life Insurance Trusts After The Build Back Better Act: EDU #2142 appeared first on The Retirement and IRA Show.
Chris sits down on a solo mission to discuss and answer questions about the recently announced, 2022 Social Security revisions.
The post COLA and Other Changes To Social Security For 2022: Q&A #2142 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listener prompted topic about naming trusts as beneficiaries of IRAs and applicable rule changes.
The post Naming Trusts As Beneficiaries Of IRAs: EDU #2141 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listeners questions relating to Social Security survivor benefits, Roth conversions, lump-sum pensions, and the pro-rata rule. (12:00) Georgette looks for clarification on the rules behind claiming an ex-spouses Social Security survivor benefit while delaying her own. (23:30 Preamble, 30:30 Question) A Californian listener asks for help on a […]
The post Social Security, Roth Conversions, Pro-Rata Rules, and Lump-Sum Pensions: Q&A #2141 appeared first on The Retirement and IRA Show.
Jim and Chris sit down with special guest, professor, author, and overall financial planning guru, Dr. Wade Pfau.
The post Special Guest, Dr. Wade Pfau: EDU #2140 appeared first on The Retirement and IRA Show.
Jim and Chris discuss listeners questions relating to Social Security, trusts as IRA beneficiaries, Roth 401(k) creditor protection, Roth conversions, and pensions. (7:00) Georgette from New York looks for clarification on the taxation of retroactive Social Security benefits as discussed in a previous show. (15:15) George from California wonders about his Mom should claim her […]
The post Social Security, Trusts, Creditor Protection, Roth Conversions, and Pensions: Q&A #2140 appeared first on The Retirement and IRA Show.
Jim and Chris continue their discussion on potential changes in the tax code resulting from the proposed Build Back Better Act.
The post Build Back Better Act Potential Tax Changes Continued: EDU #2139 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Auxiliary Benefits, Simple Retirement Plans, QPRTs, and General Insurance Structures. (7:30) A listener has questions about Child in Care Benefits. (17:00) Jim and Chris address comment about “old advisors”. (29:30) Georgette from Texas is wondering about gifting her children portions of her home to […]
The post Auxiliary Benefits, Simple Retirement Plans, QPRTs, and General Insurance Structures: Q&A #2139 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple tax planning threats and opportunities for the newly proposed, Build Back Better Act.
The post Build Back Better Act Tax Planning Threats and Opportunities: EDU #2138 appeared first on The Retirement and IRA Show.
WE HAD TO REUPLOAD THIS EPISODE. IF YOU’RE HAVING AUDIO ISSUES, PLEASE RE-DOWNLOAD THE EPISODE AND IT SHOULD BE FIXED! Thanks 🙂 Jim and Chris sit down to discuss questions relating to Social Security survivor benefits, inherited IRAs, TIPS, and annuities. (4:30) A Wisconsin listener looks for clarification on whether someone who is already claiming […]
The post Social Security, Inherited IRAs, TIPS, and Annuities: Q&A #2138 appeared first on The Retirement and IRA Show.
Jim and Chris follow a listeners suggestion and discuss a recent article relating to a retiree who is having trouble spending their money in retirement.
The post Spending Money In Retirement: EDU #2137 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, retiree investment portfolios, property decisions, and minimum dignity floor coverage. (2:15) A fellow Coloradoan looks for some clarification on Social Security and claiming a survivorship benefit. (12:30) George from Ohio asks how to build an investment portfolio for a new retiree. (23:00) […]
The post Social Security, Retiree Portfolios, Property Decisions, and Minimum Dignity Floor Coverage: Q&A #2137 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss some comments that were recently published in the Financial Planning magazine.
The post Discussing The Financial Planning Magazine: EDU #2136 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions about Social Security, inherited Roth IRAs, DIAs, Roth conversions, and durable powers of attorney. (4:30) George asks a question about Social Security claiming strategies for surviving spouses. (17:45) A Minnesotan wonders what the tax implications are when it comes to inherited Roth IRAs. (32:00) An Ohioan […]
The post Social Security, Inherited Roth IRAs, DIAs, Roth Conversions, and Durable Powers of Attorney: Q&A #2136 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple questions from a Massachusetts listener relating to possible pension income options.
The post Pension Income Questions: EDU #2135 appeared first on The Retirement and IRA Show.
Chris and inhouse CPA, Bob Palechek sit down to discuss listeners questions relating taxes, selling tax-effected funds, and Roth conversions. (3:30) A Michigan listener looks for clarification on selling tax-effected funds and how it might effect Medicare Part B premiums. (23:00) An Alaskan listener asks for clarity regarding IRAs and Roth Conversions. (36:15) George asks […]
The post Taxes, Roth Conversions, and Savings Strategies: Q&A #2135 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listeners email regarding planning for millennial’s or folks with a longer retirement planning horizon.
The post Planning Considerations For Millennial’s: EDU #2134 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions about Social Security survivor and spousal benefits, MYGAs, Conflicts of Interest, the Minimum Dignity Floor, QLACs, and RMDs. (6:00) Cousin George from Delaware asks a question about claiming Social Security survivors benefits. (16:30) A Floridian wants to know if claiming Social Security spousal benefits will affect […]
The post Social Security, MYGAs, Conflicts of Interest, the Minimum Dignity Floor, and QLACs: Q&A #2134 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listener’s email about the history and laws behind gift and estate taxes.
The post The History Behind Gift and Estate Taxes: EDU #2133 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listener questions about Social Security, WEP, TSPs, Roth Conversions, Special Needs Trusts, and RMDs. (3:00) A Mainer would like to know if they can claim Social Security benefits retroactively. (10:00) A listener from Washington wants clarification on how the Windfall Elimination Provision (WEP) will affect their Social Security […]
The post Social Security, WEP, TSPs, Roth Conversions, Special Needs Trusts, and RMDs: Q&A #2133 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to revisit the three types of beneficiaries for IRA/retirement accounts after the passage of the SECURE Act.
The post Three Types Of Beneficiaries: EDU #2132 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, gift tax, and investing life insurance proceeds for children. (3:45) Chris addresses a thought from a listener wondering about a response to one of last weeks Social Security questions. (12:15) A Maryland listener looks for clarification on a Social Security question that […]
The post Social Security, Gift Tax, and Life Insurance Proceeds: Q&A #2132 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listeners email concerning the topic of conflicting advice in the financial planning world.
The post Conflicting Financial Advice: EDU #2131 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listeners questions relating to Social Security, Roth conversion taxes, and naming beneficiaries on IRAs and 401(k)’s. (4:30) A Kentucky listener looks for clarification on claiming Social Security survivor benefits prior to collecting their own retirement benefit. (12:15) A Floridian asks about the idea of claiming Social Security early […]
The post Social Security, Roth Conversion Taxes, and Beneficiaries: Q&A #2131 appeared first on The Retirement and IRA Show.
Chris and Bob sit down to discuss the three phases of investing in real estate and the potential tax impacts of owning real estate as an investment.
The post Tax Impacts Of Investing In Real Estate: EDU #2130 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, reserve funds, ACA tax credits, and leaving an IRA as inheritance. (3:15) Georgette from New York looks for advice on when to claim her own Social Security benefit and when to file for a spousal benefit. (21:00) Georgette from New York asks […]
The post Social Security, Reserve Funds, ACA Credits, and Inheritance: Q&A #2130 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listeners email and readdress the concept of owning real estate in an IRA.
The post Owning Real Estate In An IRA: EDU #2129 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, leaving a guaranteed inheritance, and minimum dignity floor (MDF) coverage. (11:00) A Floridian listener looks for clarification on currently collecting Social Security disability benefits and delaying his normal benefit to age 70. (17:45) A listener from Illinois asks about the possibility of […]
The post Social Security, Inheritance, and MDF Coverage: Q&A #2129 appeared first on The Retirement and IRA Show.
Chris sits down with in-house investment expert, Scott Roark to discuss inflation expectations as well as inflation adjusted securities such as I bonds and TIPS.
The post Inflation Adjusted Securities: EDU #2128 appeared first on The Retirement and IRA Show.
Chris and in-house CPA, Bob sit down to answer some listers tax questions relating to passing down 529 plans and performing Roth conversions. (4:00) George and Georgette from Maryland ask if 529 plans can be passed down through a change in ownership and continue to grow tax-free. (22:40) A listener look’s for advice on considering […]
The post Tax Questions With A Twist: Q&A #2128 appeared first on The Retirement and IRA Show.
Chris sits down to discuss everything IRMAA (income related monthly adjustment amount). The history behind it and where it currently stands.
The post Everything IRMAA: EDU #2127 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss various listeners questions relating to Social Security, gifting to children, and MYGA annuities. (9:00) A South Carolinian listener looks for advice on her and her husband delaying till age 70 to claim Social Security benefits. (14:00) Georgette from Delaware asks for help with determining the best ages for […]
The post Social Security, Gifting, and MYGA Annuities: Q&A #2127 appeared first on The Retirement and IRA Show.
Chris and Bob sit down to discuss a listeners email illustrating the need for considering all possible variables when planning your tax strategy.
The post Tax Strategy Considerations: EDU #2126 appeared first on The Retirement and IRA Show.
Chris sits down with inhouse CPA and tax expert, Bob Palechek to discuss listeners questions relating to taxes, IRAs, gifting, and IRMAA. (3:30) A listener from Indiana looks for advice on the most tax efficient way to rollover her IRAs and take RMDs on an inherited IRA. (20:00) A Texan looks for clarification on gifting […]
The post Taxes, IRAs, Gifting, and IRMAA: Q&A #2126 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple potential provisions of the Securing a Strong Retirement Act of 2021.
The post Provisions of the Securing a Strong Retirement Act: EDU #2125 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, gifting of assets, pensions, and taxable account diversification. (5:00) George from Los Angeles asks if contributing to a deferred compensation program lowers his Social Security earnings history. (11:00) George from Connecticut looks for clarification regarding his sons Social Security disability benefits and […]
The post Social Security, Gifting, Pensions, and Taxable Account Diversification: Q&A #2125 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to chat about a listeners email regarding the rarely discussed topic of gifting while being alive.
The post Gifting While Alive: EDU #2124 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions relating to Social Security, Roth IRAs, legacy businesses, RMDs, Medicare, and beneficiaries. (10:15) A Californian looks for calcification on claiming a deceased ex-husbands Social Security benefit prior to full retirement age. (21:30) Two individual separate listeners ask questions both relating to Roth IRA contribution rules. (26:00) […]
The post Social Security, Roth IRAs, Legacy Businesses, RMDs, Medicare, and Beneficiaries: Q&A #2124 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss seven considerations to think about when naming a trust as a beneficiary of an IRA in a post-SECURE Act world.
The post Trusts As Beneficiaries of an IRA in a Post-SECURE Act World: EDU #2123 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, IRA rollovers, QCDs, and IRA beneficiaries. (6:00) Georgette from Michigan looks for clarification on when to claim for a spousal Social Security benefit. (18:00) George asks a couple Social Security questions relating to survivor benefits and claiming strategies. (29:30) An Ohioan listener […]
The post Social Security, IRA Rollovers, QCDs, and IRA Beneficiaries: Q&A #2123 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and provide input on a recent article about eight different retirement distribution strategies.
The post Retirement Distribution Strategies Discussion: EDU #2122 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listeners questions relating to Social Security, IRAs, backdoor Roth’s, and overcontributions to Roth IRAs. (3:25) A listener looks for clarification on collecting spousal Social Security benefits. (8:15) George from California asks about Social Security survivor benefits. (18:30) A listener has a question about the possible taxation of non-deductible […]
The post Social Security, IRAs, and Backdoor Roth Contributions: Q&A #2122 appeared first on The Retirement and IRA Show.
Jim and Chris welcome special guest, Kevin Lyles, from the Rock Retirement Club to discuss whether to work and where to live in retirement.
The post Whether To Work and Where To Live In Retirement: EDU #2121 appeared first on The Retirement and IRA Show.
Chris sits down with resident CPA, Bob Palechek to discuss listeners questions pertaining specifically towards taxes.
(3:10) A Pennsylvania listener looks to have his question answered regarding donating money from an IRA after RMD age.
(21:00) George from Texas asks about the treatment of profit/loss from cryptocurrencies.
(28:30) George looks for clarification on the amount of earned income he needs, to make a $14,000 Roth contribution for him and his spouse.
(36:00) A Californian listener asks a quick question about the “Kiddie Tax”.
The post Tax Specific Questions: Q&A #2121 appeared first on The Retirement and IRA Show.
Jim and Chris sit down with inhouse CPA, Bob Palechek to discuss some listener emails pertaining to taxes and financial planning related questions.
The post Financial Planning and Taxes: EDU #2120 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener’s questions relating to Social Security, cash balance plans, pensions, and the pro-rata rule.
(3:00) Jim and Chris begin by deep diving into the calculation behind the idea of investing your age 62 Social Security benefits instead of waiting till age 70 to claim and follow-up by answering George from Texas’s question about maximizing his wife’s PIA before claiming at age 62.
(32:00) A Massachusetts listener asks for advice on whether or not to roll a cash balance plan into an IRA or take monthly annuity payments.
(48:00) An Arizonian looks for Jim and Chris’s thoughts on how to incorporate a pension and Social Security into the fixed income portion of his portfolio.
(1:07:45) George provides his current situation and asks for clarification on the pro-rata rule.
The post Social Security, Cash Balance Plans, Pensions, and The Pro-Rata Rule: Q&A #2120 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple court cases from IRS tax court and some private letter rulings (PLR).
The post IRS Tax Court Cases and PLRs: EDU #2119 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, backdoor Roth contributions, taxes, hybrid LTC policies, and RMDs.
(11:45) George from New York looks for clarification on Social Security and surviving spousal benefits.
(17:00) An Ohioan asks a question about backdoor Roth contributions and the pro-rata rule.
(27:45) A listener wonders about the taxation of traditional IRAs and rollover IRAs when partially funded with after tax dollars.
(38:30) A listener asks about the rules surrounding hybrid long term care policies (LTC).
(52:45) An Arizonian listener looks for clarification on the calculation/timing of his RMDs.
The post Social Security, Backdoor Roth Contributions, Taxes, LTC, and RMDs: Q&A #2119 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a variety of topics from Jim’s experience at the most recent Ed Slott training session.
The post Recapping Ed Slott Training Topics: EDU #2118 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, Roth conversions, taxes, paying off mortgages, and IRA rollovers.
(5:00) A Kentucky listener looks for clarification on the taxation of retroactive Social Security benefits.
(11:00) George asks for advice on deciding when to claim Social Security.
(22:00) A listener asks about how to convert money from a 457(b) plan into a Roth IRA.
(31:45) A listener wonders about the different tax consequences relating to taking money out of a 401(k) and IRA.
(42:30) George from Utah lays out his current investing philosophy and asks for an opinion on paying off a mortgage vs. investing that money.
(55:15) A Maryland listener asks about an IRA rollover and the related withdrawals of post-tax and pre-tax monies.
The post Social Security, Roth Conversions, Taxes, Mortgages, and IRA Rollovers: Q&A #2118 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the tax efficiencies of exchange traded funds (ETFs) and the differences from mutual funds.
The post Tax Efficiencies of ETFs vs. Mutual Funds: EDU #2117 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to Social Security, fraud protection for IRAs and 401k’s, LTC, and annuities.
(3:45) George from Washington looks for clarification on claiming a spousal Social Security benefit.
(11:45) Georgette from California asks about the fraud protection of IRAs and 401k plans.
(31:15) A Connecticut listener asks if traditional LTC policy issuers get discounts from a preferred provider network like a medical insurer would.
(36:40) A Virginian asks a follow-up question on a question from a previous show about life insurance and LTC riders.
(48:00) A listener asks about the ideal time to purchase a deferred income annuity (DIA).
The post Social Security, Fraud Protection, LTC, and Deferred Income Annuities: Q&A #2117 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue last weeks discussion about reverse mortgages with special guest, Jan Jordan.
The post Reverse Mortgages Continued: EDU #2116 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to answer listeners’ questions relating to Social Security, Roth IRA contribution rules, TIPS, life insurance, cost basis, and Roth conversions.
(2:55) A listener looks for advice on the best date for his wife to claim her Social Security benefit.
(17:30) George from Michigan asks if graduate students receiving funds from the university can qualify to make contributions to Roth IRAs.
(21:15) A listener asks about the best way to select the appropriate time horizon for Treasury Inflation-Protected Securities (TIPS).
(31:35) A Californian would like to know whether or not to borrow against the cash value in a life insurance policy.
(56:30) Georgette from New York asks about calculating the cost basis on her current mutual fund holdings.
(1:05:35) An Ohioan wonders if it is possible to do Roth conversions from an Inherited IRA.
The post Social Security, Roth IRA Contributions, TIPS, Life Insurance, Cost Basis, and Roth Conversions: Q&A #2116 appeared first on The Retirement and IRA Show.
Jim and Chris sit down with a special guest, Jan Jordan, to explain the updated Required Minimum Distribution (RMD) rules from the IRS and discuss details regarding reverse mortgages.
The post Updated RMD Rules and Reverse Mortgages: EDU #2115 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners questions relating to retirement benefit plans, Social Security, annuities, and QLACs.
(3:30) An Indiana listener looks for advice on when to collect his Railroad Retirement Benefits (RRB).
(17:30) A Californian asks for clarification about how receiving two years of wages after retirement will effect her age 70 Social Security benefit.
(37:00) George wonders how to calculate the expected rate of return of a DIA (deferred income annuity) forecasted at various mortality ages.
(51:30) A listener describes his parents financial position and asks for advice regarding the purchase of a QLAC.
The post Retirement Benefits, Social Security, Annuities, and QLACs: Q&A #2115 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a listeners email surrounding the topic of potential issues with having a trust setup as beneficiary to an IRA.
The post The Issue With Trusts As Beneficiaries on IRAs: EDU #2114 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions and comments on Social Security, Tax Credits, Step-Up in Basis, VATs, Rollover IRAs, and LTC.
(7:00) A listener from North Carolina would like to know how the family’s maximum Social Security benefit affects a child’s Social Security benefit.
(25:10) A CPA from Alabama commented on future tax credit proposals.
(30:50) A Californian has a comment about the possible elimination of the step-up in basis readjustment.
(34:20) A listener from Virginia has a comment about the possible impact Value-Added Taxes (VATs) could have on Social Security Cost of Living Adjustments (COLA).
(42:25) George from Oregon asks a question about Rollover IRAs.
(50:10) A South Carolinian is curious about self-funding for Long-Term Care, and if there is such thing as a “Catastrophic Coverage” Long-Term Care policy.
The post Social Security, Tax Credits, Step-Up in Basis, VATs, Rollover IRAs, and LTC: Q&A #2114 appeared first on The Retirement and IRA Show.
Chris sits down with special guest and CPA, Bob Palechek to discuss a couple general tax questions from listeners.
The post Your Tax Questions Answered: EDU #2113 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listeners’ questions pertaining to Social Security, Roth conversions, and long term care (LTC) insurance.
(6:00) A New Yorker asks a question about the theoretical maximum payout value for Social Security and what its based on.
(18:15) A Portland listener asks about the difference between Social Security survivor benefits and divorced survivor Social Security benefits.
(33:30) George from Virginia looks for help on Roth conversions and their strategy to pay for the taxes on the conversion.
(46:00) A listener voices his opinion on purchasing LTC insurance and the lengthy list of exclusions within the insurance policies.
The post Social Security, Roth Conversions, and LTC: Q&A #2113 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss and provide details about the twelve potential tax changes within the Biden administrations tax proposal.
The post Biden Administration’s Tax Proposal Discussion: EDU #2112 appeared first on The Retirement and IRA Show.
Jim and Chris answer listener questions about Social Security, Delayed Retirement Credits, IRD, CRDs, and Commission-Free Annuities.
(4:45) A Nevadan wants to know if severance payments affect their Social Security earnings record.
(13:38) A listener asks two questions about Social Security survivor benefits and delayed retirement credits.
(24:57) George from California wanted clarification on a past EDU show about Income with Respect to a Decedent (IRD).
(40:10) George from Georgia asks a question about a Carona Virus Related Distribution.
(49:00) A Coloradoan wants to know more about purchasing commission-free annuities.
The post Social Security, Delayed Retirement Credits, IRD, CRDs, and Commission-Free Annuities: Q&A #2112 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss successor beneficiaries for IRAs and the complex details surrounding them.
The post Successor Beneficiaries For IRAs: EDU #2111 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss a couple listeners questions relating to Social Security, pensions, and backdoor Roth contributions.
(10:30) A listener from Maryland asks about the timing behind getting full Social Security benefits and retroactive payments.
(18:00) George from New York asks two questions. The first question relates to Social Security benefits.
(30:00) George’s second question concerns company pensions and the fear of companies buying out pension plans.
(45:15) A colleague of Jim and Chris reaches out with a question relating to backdoor Roth contributions.
The post Social Security, Pensions, and Backdoor Roth Contributions: Q&A #2111 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss the operation of annuities and the tax consequences related to them when the annuity owner passes away.
The post The Operation of Annuities: EDU #2110 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to discuss listener questions about Social Security, Roth conversions, annuities, and IRA creditor protection.
(5:00) A listener brings up a question from a previous show and asks if he should contact Social Security to end his currently claimed spousal benefit.
(14:00) A Georgian listener inquires about his wife’s approximate spousal benefits revolving around WEP (Windfall Elimination Provision).
(30:15) Georgette brings up a frustrating point made by Chris in a previous show and the concept of “pay it now or pay it later” for Roth conversions.
(49:45) A listener from Connecticut wonders about the uses of indexed annuities and the ability to live tax free in retirement.
(58:00) George proposes a question about the creditor protection for inherited IRAs.
The post Social Security, Roth Conversions, Annuities, and IRA Creditor Protection: Q&A #2110 appeared first on The Retirement and IRA Show.
Jim and Chris sit down to continue their discussion on annuities while going through a hypothetical purchase of an annuity to cover minimum dignity floor (MDF) income.
The post Annuity Features and MDF Coverage: EDU #2109 appeared first on The Retirement and IRA Show.
Jim, Chris, and Peter Scott pick up from EDU Show #2108 to continue the discussion and answer listeners questions relating to charitable remainder trusts (CRTs).
(4:00) A listener asks a question about when CRTs are appropriate and who they’re appropriate for.
(13:45) A couple with a disabled son looks for clarification on the details of how much CRTs can pay out to beneficiaries.
(28:00) A listener wonders whether the beneficial use of CRTs only applies to taxable retirement accounts or Roth retirement accounts as well.
(33:35) George describes a potential provision of CRTs and looks for clarification as to whether it can be useful to get higher distributions from the trust itself.
(41:00) A listener calculates the costs for administrative and tax filling fees of CRTs and asks if it’s a reasonable cost assumption or not.
The post Charitable Remainder Trust (CRT) Questions: Q&A #2109 appeared first on The Retirement and IRA Show.