Podcasts about irmaa

Anderson Business Advisors Podcast

Play Episode Listen Later Sep 15, 2026 5:49

Most federal employees spend years planning the day they retire. Almost nobody plans what the first year actually feels like. Your last paycheck stops, your first retirement check may not match the estimate, taxes change, healthcare starts running on a calendar — and taking money from the TSP can suddenly feel wrong, even though that's exactly what you saved it for. Here are the seven things to expect, and the retirement planning that keeps them from becoming surprises.━━━━━━━━━━━━━━━IN THIS VIDEO YOU CAN LEARN━━━━━━━━━━━━━━━- Why the first year is a transition between two income systems, not a single event- The OPM processing gap — what interim pay is, and why you want a cash cushion- Why you budget on your NET pension, never the gross estimate- The first-year tax stack: salary, annual leave payout, pension, social security retirement or the supplement, and TSP withdrawals all landing in one year- Healthcare's calendar — FEHB, Medicare at 65, and IRMAA's two-year lookback- Source and timing for large purchases — it's not the trip, it's which account pays for it- The emotional shift nobody puts on an OPM formHow many months of cash would you want set aside before you retire — three, six, or twelve? Drop your number below

california state drop healthcare budget survivors insurance timing medicare educational first year guidebook opm ssa investment advisors tsp fers irmaa federal retirement fehb

Episode 384 - You Have $1 Million in Your 401K - Now What?

Secure Your Retirement

Play Episode Listen Later Sep 14, 2026 19:31

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss what actually happens once a household crosses the $1 million mark in their 401k, and why hitting that number raises new questions instead of settling old ones. They walk through why the balance on your statement isn't the number you actually get to spend, how required minimum distributions can sneak up on even careful savers, and why the investment strategy that built your nest egg isn't the one that should carry you through retirement.Listen in to learn about the tax traps that catch people off guard when withdrawing from a 401k, why Roth conversions deserve a serious look before required distributions kick in, how the three-bucket strategy protects your income from a bad market at exactly the wrong time, and what changes financially (and it's not what you'd expect) when one spouse passes away.In this episode, find out:Why a $1 million 401k balance is really closer to $650,000 to $700,000 after taxes, and how that mistake trips people up when withdrawing for big expensesHow required minimum distributions work, and why waiting too long to touch a 401k can create a bigger tax problem laterWhy a Roth conversion strategy, done while both spouses are alive and filing jointly, can meaningfully reduce lifetime taxesWhat sequence of returns risk is, and how the three-bucket strategy (cash, safety and income, growth) protects retirement income from market downturnsWhy moving from a joint tax return to a single filer after a spouse passes away often raises your tax rate, even if your income barely changesTweetable Quotes:"While you see the million on paper, really only about 650 to 700,000 of that's actually yours." — Murs Tariq"How I take money out of a 401k has some things I've got to think through. So, I've got to think through my taxation. I've got to think through potential problems with IRMAA." — Radon StancilResources:If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!To access the course, simply visit POMWealth.net/podcast.

roth 401k four steps murs radon irmaa secure your retirement expenseshow

Turning Your Home Into a Rental: The Tax Rules Every Homeowner Should Know

Play Episode Listen Later Sep 8, 2026 65:37

Thinking about turning your primary residence into a rental property? Before you hand over the keys to a tenant, there are important tax rules every homeowner and real estate investor should understand. In this episode of Tax Tuesday, Anderson Advisors attorneys Eliot Thomas, Esq. and Amanda Wynalda, Esq. answer listener questions about converting a personal residence into a rental, including one of the biggest areas of confusion: What happens to your property's tax basis when you start renting it? If you bought your home years ago for $300,000 and it's now worth $1 million, can you depreciate the property based on its current value—or does the IRS look at something else? Eliot and Amanda break down how basis and depreciation work when converting a home to a rental and why understanding these rules can make a major difference in your tax strategy. They also cover selling a former rental after converting it into a primary residence, Section 121 capital gains exclusions, 1031 exchanges across state lines, installment sales, oil and gas deductions, business expenses, and IRMAA income thresholds. Whether you're a homeowner considering becoming a landlord or an experienced real estate investor looking for smarter ways to manage taxes, this episode covers important tax concepts to understand before making your next move. Would you like to learn more about passing down your estate? Schedule a free consultation here: https://aba.link/5b425e Register for the next Tax Tuesday webinar to get your questions answered Live: https://aba.link/rapa Register for an upcoming workshop today if you want to protect your business and personal assets from snoopy lawyers and creditors. Save Your Seat: https://aba.link/e4ab1e What You'll Learn What happens to your tax basis when you convert your home into a rental How depreciation works when a home's value has increased significantly Tax considerations when selling a rental that later became your primary residence How the Section 121 capital gains exclusion applies to converted rental properties Whether a 1031 exchange replacement property needs to stay in the same LLC How installment sale treatment works under IRC §453 Tax considerations for oil and gas working interest investments How to handle personal purchases accidentally charged to a business credit card When a new business is considered a legitimate business for tax purposes How income can affect IRMAA Medicare premiums Show Notes & Chapters 0:00 – Intro Eliot Thomas, Esq. and Amanda Wynalda, Esq. introduce today's Tax Tuesday and the listener tax questions they'll be answering. 9:24 – Oil & Gas Working Interest Tax Deductions How do first-year deductions for tangible and intangible drilling costs work with an oil and gas working interest, and does holding the investment through a disregarded LLC affect the tax treatment? 17:39 – Can a Lump-Sum Payment Qualify as an Installment Sale? Under IRC §453, can a property sale qualify for installment sale treatment when the transaction closes in one year but the seller receives the entire payment the following year without seller financing or a promissory note? 24:25 – Turning Your Home Into a Rental: What Happens to Your Tax Basis? A homeowner purchased a house for $300,000 approximately 20 years ago, but today the property is worth roughly $1 million. If the homeowner converts the property into a rental in 2026, what basis should be used for tax and depreciation purposes? 28:05 – Selling a Former Rental After Making It Your Primary Residence What happens when you convert a long-term rental property into your primary residence and later sell it? Eliot and Amanda discuss the potential capital gains consequences and how the Section 121 exclusion can come into play. 38:46 – Using an LLC for a 1031 Exchange Across State Lines If a Washington LLC sells California investment property and completes a 1031 exchange into an Alaska property, does the replacement property have to remain in the same LLC—or can the investor create a new entity? 46:04 – Does Your Business Have to Make a Profit to Be a Business? Can a newly launched consulting business still qualify as a legitimate business if it has generated very little revenue? Learn what business owners should understand about profitability and operating a new venture. 51:45 – Accidentally Using Your Business Credit Card for Personal Expenses What happens if you accidentally—or intentionally for the rewards points—put a personal purchase on your business credit card? Can your accountant simply exclude the purchase from deductible business expenses? 57:35 – IRMAA Income Limits & Social Security How does a higher adjusted gross income affect IRMAA for a married couple receiving Social Security? Eliot and Amanda discuss how income levels can influence Medicare-related costs. About Tax Tuesday Tax Tuesday helps real estate investors, business owners, and taxpayers better understand complex tax rules and strategies through real-world questions answered by Anderson Advisors professionals. In this episode, Eliot Thomas, Esq. and Amanda Wynalda, Esq. break down practical tax questions involving rental real estate, capital gains, 1031 exchanges, business deductions, investment strategies, and retirement-related tax considerations.

california live business thinking turning selling alaska llc profit register irs oil medicare social security rental esq homeowners eliot tax rules irmaa save your seat anderson advisors does your business have

IRMAA Brackets, Social Security, Annuity Inflation, QCDs, Listener PSAs: Q&A #2636

MoneyWise on Oneplace.com

Play Episode Listen Later Sep 5, 2026 85:38

Jim and Chris discuss listener emails on IRMAA brackets after a spouse’s death, Social Security claiming and spousal benefits, annuities and inflation for a Minimum Dignity Floor shortfall, and a Qualified Charitable Distributio (QCD) funding a charitable gift annuity, followed by listener PSAs on expense tracking, home sale timing, and annuity flexibility. (10:00) A listener asks which year’s tax brackets and which filing status apply to the IRMAA two-year look-back following a spouse’s death, and whether remarrying later would change the result. (18:30) George asks whether claiming Social Security at Full Retirement Age rather than 70 makes more sense when a spouse is already receiving a small benefit that would step up to a spousal benefit. (32:15) The guys respond to a question about how to account for future inflation when purchasing an annuity to cover a Minimum Dignity Floor (MDF) shortfall. (1:02:15) Jim and Chris address a question about using a QCD from a traditional IRA that contains basis to fund a charitable gift annuity. The listener asks how the basis affects the reportable QCD amount, any charitable deduction, and the taxation of the lifetime income stream. (1:11:30) Georgette shares a listener PSA on using a budgeting app to tag every transaction as either MDF or Fun in the years leading up to retirement. (1:13:00) A listener offers a PSA recommending a different approach – similar to what Jim is doing – for the homebuyer from a previous episode. (1:15:00) The guys share a listener PSA suggesting a 60-day leaseback at closing as a simpler alternative to the 60-day rollover for that same home purchase situation. (1:19:30) Jim and Chris close with a listener PSA suggesting that an annuity purchased for fun spending could also serve as a partial source of MDF income later if it structured differently. The post IRMAA Brackets, Social Security, Annuity Inflation, QCDs, Listener PSAs: Q&A #2636 appeared first on The Retirement and IRA Show.

fun retirement inflation psa social security brackets annuity psas mdf irmaa qcd qcds full retirement age

Medicare Made Simple with Eddie Holland

Play Episode Listen Later Sep 2, 2026 24:57

Medicare may be one of the most important—and confusing—financial decisions you make in retirement. Between enrollment deadlines, late penalties, Medicare Advantage, Medigap, prescription coverage, and income-based premiums, there are plenty of decisions to navigate. And because some choices can have long-term financial consequences, understanding the basics before you enroll is an important part of wise stewardship. Eddie Holland, Senior Private Wealth Advisor and Partner at Blue Trust, as well as a CFP®, CPA, and Certified Kingdom Advisor®, recently joined Faith & Finance to help simplify Medicare and explain some of the most important planning considerations. Understanding Medicare Parts A, B, C, and D A good place to begin is with Medicare's different parts. Medicare Part A primarily covers hospital-related care, including inpatient hospital stays, skilled nursing care, and hospice. For people who have accumulated the required work credits through either their own employment or their spouse's, Part A generally does not require a monthly premium. Medicare Part B covers many medical services outside the hospital, including doctor visits, lab work, and outpatient procedures. Unlike Part A, Part B generally carries a monthly premium, and higher-income retirees may pay more. Medicare Part D covers prescription drugs. Those enrolled in Original Medicare—Parts A and B—can generally purchase a separate Part D prescription drug plan. Medicare Part C, better known as Medicare Advantage, is offered through private insurance companies. These plans combine Parts A and B and often include Part D prescription coverage as well. Some plans may also offer additional benefits such as dental or vision coverage. Another option for those using Original Medicare is a Medicare supplement plan, commonly called Medigap. These private plans are designed to help cover some of the deductibles, copayments, and other expenses that Original Medicare does not pay. Pay Close Attention to Enrollment Timing Timing matters when enrolling in Medicare. Your Initial Enrollment Period generally lasts seven months: the three months before the month you turn 65, your birthday month, and the three months afterward. But turning 65 does not always mean you have to immediately leave employer-sponsored health coverage. If you or your spouse are still working and you have qualifying employer coverage, you may have access to a Special Enrollment Period, allowing you to delay certain portions of Medicare without facing a late enrollment penalty. Holland notes that employer size and the nature of the coverage can affect how Medicare coordinates with the employer plan. That makes it important to speak with your employer's benefits or human resources department before making assumptions about which coverage should come first. Employer Size Can Make a Difference If your employer has 20 or more employees, the employer health plan may generally remain the primary payer while you continue working, potentially allowing you to postpone Part B and its monthly premium. With an employer of fewer than 20 employees, Medicare may become the primary payer once you are eligible. In that situation, failing to enroll in Parts A and B could potentially leave gaps in coverage. You should also verify whether your employer's prescription drug coverage is considered creditable coverage for Medicare purposes. That can be especially important if you plan to delay Part D beyond age 65. The larger lesson is simple: Medicare decisions should rarely be made in isolation. Your employer coverage, retirement date, spouse's coverage, prescription needs, and other factors all need to be considered together. What Is IRMAA? For higher-income retirees, another important acronym to know is IRMAA, or the Income-Related Monthly Adjustment Amount. IRMAA is an additional charge added to Medicare Part B and Part D premiums when modified adjusted gross income exceeds certain thresholds. For 2026, Holland notes that IRMAA begins above $109,000 in modified adjusted gross income for single filers and $218,000 for married couples filing jointly. Medicare generally bases the surcharge on the most recent tax information available, which often means looking back two years. So, for example, 2026 Medicare premiums may be based on income reported on a 2024 tax return. That two-year lookback can surprise people whose financial situation has recently changed. If your income has fallen because of certain qualifying life-changing events, such as retirement, marriage, or widowhood, you may be able to request a reconsideration of the surcharge using Social Security Form SSA-44. Roth Conversions Can Affect Medicare Premiums IRMAA can also become an important consideration when planning Roth conversions. Suppose you retire before age 65 and decide to convert a significant amount of traditional IRA money to a Roth IRA. The conversion increases your taxable income for that year. Because Medicare looks back at previous tax returns when determining IRMAA, a large Roth conversion in the years immediately preceding Medicare enrollment could lead to higher Part B and Part D premiums later. That doesn't necessarily mean you shouldn't complete the conversion. It simply means you should include the potential Medicare impact in the calculation. Tax planning, retirement planning, and Medicare planning are often interconnected. A decision that makes sense in one area can create consequences in another. Be Careful With HSA Contributions Health Savings Accounts require special attention as you approach Medicare eligibility. Once you are enrolled in Medicare, you can no longer contribute to an HSA. If you enroll around age 65, you need to coordinate the end of your HSA contributions with the beginning of your Medicare coverage. The issue becomes even more important for those who enroll after age 65 because Medicare Part A coverage can sometimes be applied retroactively, potentially affecting HSA eligibility for previous months. Holland recommends understanding the retroactive period before enrolling so you don't inadvertently make excess HSA contributions. Social Security can complicate matters further. If you begin receiving Social Security benefits, you may automatically be enrolled in Medicare Part A. Anyone who is still contributing to an HSA should account for that before applying for Social Security. The good news is that money already accumulated in an HSA remains tax-advantaged and can still be used for many qualified medical expenses in retirement, including certain Medicare premiums. Holland notes, however, that HSA funds cannot be used tax-free to pay Medigap premiums. What If One Spouse Reaches Medicare Age First? Married couples can face another challenge when one spouse becomes eligible for Medicare while the other is still several years away. If the older spouse continues working, the employer plan may continue covering both spouses. Some companies also provide retiree benefits that extend coverage to a younger spouse after the older spouse retires. If employer coverage isn't available, COBRA may provide temporary coverage, although it can be expensive. Another possibility is purchasing insurance through the federal or state health insurance marketplace, where the younger spouse may qualify for premium subsidies depending on household circumstances. Whatever option you choose, don't overlook the cost. If one spouse retires several years before the other reaches Medicare eligibility, higher healthcare premiums may need to become a deliberate part of the retirement budget. Make Medicare Part of Your Larger Retirement Plan Medicare isn't simply a healthcare decision. It can affect your taxes, retirement income, Social Security strategy, HSA contributions, and monthly spending. That's why careful planning before age 65 can be so valuable. Understand what each part of Medicare covers. Know your enrollment windows. Talk with your employer before leaving workplace coverage. Consider the impact of your income on Medicare premiums. And coordinate decisions involving HSAs, Roth conversions, Social Security, and your spouse's health coverage. Medicare may be complicated, but you don't have to approach it blindly. Taking the time to understand your options can help you avoid costly mistakes, choose coverage that fits your circumstances, and steward the resources God has entrusted to you with greater wisdom and confidence. On Today's Program, Rob Answers Listener Questions: I have a mortgage and a car loan and am considering consolidating them into one payment. Is that a good idea, and what type of loan would make sense? I received a letter saying my student loans were placed in permanent disability status, but I never applied for that. How can I verify whether it's legitimate and correct the situation if needed? Resources Mentioned: Faithful Steward: FaithFi's Quarterly Magazine (Become a FaithFi Partner) Blue Trust Christian Healthcare Ministries (CHM) | Healthcare.gov AnnualCreditReport.com FaithFi Field Guide: How Much Money is Enough? Our Ultimate Treasure: A 21-Day Journey to Faithful Stewardship by Rob West Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor® (CKA) FaithFi App Remember, you can call in to ask your questions every weekday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God's resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

god lessons talk partner finance married parable holland ecclesiastes cpa tax medicare cfp social security roth cobra made simple simplecast roth ira part b hsa medicare advantage hsas part d day devotional day journey medicare part d medicare part b irmaa medigap financial fear pay close attention american family radio original medicare annualcreditreport medicare part c certified kingdom advisor

9-2-26 Q&A Wednesday - What Are Markets Waiting For

Lance Roberts' Real Investment Hour

Play Episode Listen Later Sep 2, 2026 48:39

September is starting with a new set of challenges for investors: rising Treasury yields, higher oil prices, persistent inflation, renewed geopolitical tensions, and growing questions about whether the Federal Reserve may have to raise rates again. Add historically weak September seasonality and the uncertainty surrounding the midterm elections, and investors have plenty to think about. Lance Roberts and Danny Ratliff answer your questions about market risk, interest rates, inflation, portfolio positioning, retirement planning, and what investors should be watching next. 0:00 INTRO 0:50 - JOLTS Report Review, ADP/Jobs Preview 2:04 - Oil Prices on the rise (oil risk is transient): What's feeding into Inflation? 3:52 - Broadcom report preview 4:14 - Market working down towards 50-DMA to test support 5:15 - Seasonal weakness for September is present; volatility remains low 8:53 - Any market Rotation? 10:28 - Guidance for Acquiring company stock in 401k 12:37 - Recommendation for Rotation in and out of funds - how & why & controlling risk 15:30 - Dividend yields or reinvest in Creation of Retirement Paycheck? 19:37 - Where to hide money from the "coming doom..." 21:30 - Dealing with the risks in September 22:57 - Portfolio Management Rebalancing, & Target Weighting 26:13 - Data Center & related stocks: Bloom, Anet, ETN 30:15 - Money flow & Breadth Indicator, Momentum signals: Tax avoidance investing 32:56 - Is anyone big enough to move the market to influence the election (Situational Awareness) 36:55 - Changes to mandatory withdrawals 38:38 - Sensible policies to "fix" SS: remove restrictions on IRA's vs need for revenue 43:33 - Brookfield Corp? 45:12 - Worry about IRMAA? 45:56 - Pullback # for S&P 46:33 - Gold & Silver to run in future? Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/ZxnrV8m0F4g?feature=share -------- Watch our previous show, "What Should You Expect From a Financial Planner?" https://youtube.com/live/dRd4fGgwrkc ------- Watch today's "Before the Bell" report, "September Weakness Tests Market Support," https://youtu.be/4xaM1pIhI1w ------- Articles mentioned in this report: "Loss: Why Crashes, Timing & Valuations Matter (Chapter 3 of 5)" https://realinvestmentadvice.com/resources/blog/loss-why-crashes-timing-valuations-matter-chapter-3-of-5/dvice.com/resources/blog/why-retail-traders-consistently-underperform-over-time/ --- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series, "The Smart Way to Pay for College," Thursday, September 3, 2026: https://streamyard.com/watch/mcE7YgphgMns --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #Investing #MarketCorrection #RiskManagement #SeptemberMarkets #Investing #FederalReserve #RetirementPlanning #MarketRisk

9-2-26 Q&A Wednesday: What Are Markets Waiting For?

The Real Investment Show Podcast

Play Episode Listen Later Sep 2, 2026 48:40

Can Saving Too Much for Retirement Cost You More?

The Retirement Playbook

Play Episode Listen Later Sep 1, 2026 29:17

Think saving more for retirement automatically puts you ahead? It could also trigger higher taxes, larger Medicare premiums, and unexpected income challenges. Rick Hughes breaks down how required minimum distributions (RMDs), Social Security taxation, IRMAA surcharges, and capital gains can impact retirees. He also discusses why retirement plans should be built to adapt to changing economic and political environments, the importance of proactive financial guidance, and whether today's annuity options deserve a second look. Plus, he explains why retirement success is about more than investments, focusing on income, flexibility, and preparing for the realities that can affect your financial future. Hit play to discover what your financial advisor should be telling you. For events and complimentary consultations, visit hughesretirementgroup.com.See omnystudio.com/listener for privacy information.

cost saving retirement medicare social security financial advisors retirement planning annuity retirement income rmds irmaa rick hughes

401(k) and Social Security: How to Coordinate Your Retirement Income Plan

McIntire Retirement Services

Play Episode Listen Later Aug 29, 2026 30:01

Are your 401(k) withdrawals silently increasing the taxes on your Social Security benefits? Many retirees view Social Security and tax-deferred accounts (like 401(k)s, 403(b)s, and IRAs) as completely separate systems, but decisions made in one directly impact the other. In this episode of Game Plan for Retirement, Chris McIntire, President and Founder of McIntire Retirement Services, joins the program to discuss how to coordinate your retirement income streams effectively. In this video, you'll discover: Earnings & Credits: Why making tax-deductible 401(k) contributions won't reduce your future Social Security earnings baseline. The Business Owner Trap: How business deductions differ from 401(k) contributions and can lower your future Social Security payout. The Retirement Tax Domino Effect: How drawing taxable income from a 401(k) or traditional IRA can trigger taxation on up to 85% of your Social Security benefits and spike your Medicare premiums (IRMAA penalties). Strategic Solutions: How late-year Roth conversions and smart withdrawal sequencing help you gain control over tax brackets, protect survivor benefits, and build long-term tax-free wealth. To get in contact call: 419-332-0532

founders president retirement medicare social security roth game plan 401k iras retirement income coordinate irmaa

Coordinating Your 401(k) and Social Security in Retirement

Gulf Coast Financial Podcast

Play Episode Listen Later Aug 29, 2026 19:25

In this episode of Financial Focus, John Kuykendall of Gulf Coast Financial Services discusses the connection between 401(k) withdrawals and Social Security benefits. The conversation explores how distributions from tax-deferred accounts can impact Social Security taxation, Medicare Part B premiums (IRMAA), and required minimum distributions (RMDs), as well as strategies like Roth conversions and planning for surviving spouses. John Kuykendall is registered with and securities are offered through Kovack Securities, Inc. Member FINRA/SIPC. 6451 North Federal Highway, Suite 1201, Fort Lauderdale, FL 33308 (954) 782-4771. Advisory Services are offered through GulfCoast Financial Services, Inc., a Registered Investment Advisor in Florida. GulfCoast Financial Services, Inc. is not affiliated with Kovack Securities, Inc. or Kovack Advisors, Inc. John Kuykendall may discuss/transact securities related business in: CA, FL, ID, and OK. "Likes", endorsements, and other recommendations should not be considered a positive reflection of the services or advice offered by John Kuykendall or GulfCoast Financial Services; positive reviews of experience with John Kuykendall or GulfCoast Financial Services may not reflect the experience of all, or even most, clients. Visitors to this page should not write positive reviews of their experience as testimonials may be prohibited under state and federal securities laws.

retirement id likes visitors suite social security roth 401k fort lauderdale coordinating advisory services rmds registered investment advisor medicare part b irmaa financial focus

More People Working Past Age 65: What It Means for Agents Selling Medicare Plans

Agent Survival Guide Podcast

Play Episode Listen Later Aug 26, 2026 9:20

When you picture the typical Medicare client, you most likely picture someone who is enjoying the golden years of retirement. However, there are many people who have aged into Medicare that are still a part of the workforce. In this episode of the Agent Survival Guide Podcast, we help agents like you navigate how to sell plans to clients who are still employed. Read the text version Get Connected:

The Year of the Stock Picker. Again.

Play Episode Listen Later Aug 25, 2026 42:12 Transcription Available

Wall Street has declared yet another “year of the stock picker.” Don and Tom examine Morningstar and SPIVA data showing how few active large-cap funds beat their benchmarks—and why high fees, trading costs, taxes, short horizons, and fierce competition keep the odds tilted toward low-cost diversification.Then Greg asks where stocks and bonds belong while he begins Roth conversions. The discussion covers asset location, small-cap value exposure, international diversification, tax brackets, IRMAA, and keeping the portfolio's overall risk level intact.Finally, they tackle an all-U.S. Roth for a 20-year-old, a couple's pre-retirement glide path, and a pricey Fidelity target-date fund that can be replaced inside a Roth without creating a tax bill. Stay through the end for a money-music bonus.0:37 — The “year of the stock picker” returns2:41 — Active funds trail their benchmarks again8:30 — Why passive keeps winning13:29 — Asset location for Roth conversions22:09 — Should a 20-year-old invest only in the U.S.?23:59 — Reducing risk before retirement28:24 — Escaping an expensive target-date fund31:53 — Reviews, inflation, and a money-music bonusQuestions? Comments? Click!

wall street active stock reducing escaping asset roth morningstar retirement planning roth ira asset allocation passive investing picker index funds roth conversions target date funds active management irmaa investment fees spiva

Why Your Low-Fee TSP Isn't a Retirement Plan

strategy planning hidden mastering engage medicare social security penalties wealth management retirement planning tax strategies market volatility retirement strategies required minimum distributions irmaa

Play Episode Listen Later Aug 25, 2026 6:05

Your TSP has some of the lowest fees in the country — but a low-fee investment account is not the same thing as a written retirement income plan. In this short video, Charles explains what a real federal retirement plan actually coordinates, and what it costs you every year you wait.━━━━━━━━━━━━━━━IN THIS VIDEO YOU CAN LEARN━━━━━━━━━━━━━━━- Why low TSP fees don't add up to a retirement plan- What a real plan coordinates: FEHB, Medicare Part B, survivor benefits, and Social Security timing- How tax-deferred savings turn into RMDs — and who picks the number if you don't- The Medicare Part B cycle that quietly raises your costs as your income rises- The two things every written retirement income plan should start withWhat worries you more — paying higher fees, or not having a plan at all? Drop it below

Episode 381 - The Coming Retirement Tax Problem Roth Conversions, RMDs and Medicare IRMAA

Secure Your Retirement

Play Episode Listen Later Aug 24, 2026 20:48

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the tax problem quietly building for anyone with a large 401(k) or IRA, required minimum distributions, Roth conversions, and the Medicare IRMAA surcharge that catches even careful savers off guard.Listen in to learn about how RMDs are calculated once you reach your 70s, why a disciplined saving habit can turn into a bigger tax bill than expected, how a Roth conversion strategy can smooth that out over time, and how Medicare's IRMAA surcharge fits into the timing of it all.In this episode, find out:What a required minimum distribution (RMD) actually is, and why it can surprise even the most disciplined saversA simple way to estimate what your own future RMD could look like, using nothing more than your current balance and a rough growth assumptionHow a Roth conversion strategy can smooth out RMDs over time, including a real example from POM's tax strategy sessions that projected six figures in lifetime tax savingsWhat the Medicare IRMAA surcharge is, why it's tied to your income two years before you enroll, and why it can add hundreds or thousands of dollars a year to your Medicare premiumWhy RMD planning and Medicare IRMAA planning can't be handled separately, and need to be revisited every year as part of a real tax strategyTweetable Quotes:"Not everybody should do a Roth conversion, but everybody should have an analysis done to find out if it makes sense." — Radon Stancil"A big 401(k) is a good problem to have, but it's still a problem you need a plan for." — Murs TariqResources:If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!To access the course, simply visit POMWealth.net/podcast.

retirement medicare roth four steps pom murs rmd radon rmds roth conversions irmaa secure your retirement

Paintballs, Penalties, and Planning: Mastering Your Retirement Strategy

Retirement Coffee Talk

Play Episode Listen Later Aug 22, 2026 48:56

Hidden taxes, rising Medicare premiums, and market volatility can easily derail your hard-earned savings if you don’t know the rules of the game. Host Charisse Rivers shares how to navigate complex retirement landmines—from IRMAA surcharges and Social Security provisional income formulas to Required Minimum Distributions. Learn how proactive tax strategies and active portfolio management can protect your wealth against unexpected costs and economic shifts. Whether you are adjusting to rising living expenses or looking for a comprehensive healthcare, tax, and income strategy, discover how to keep more money in your pocket and retire with confidence. Like this episode? Hit that Follow button and never miss an episode!

What Is The Biggest Social Security Surprise For Retirees?

Anderson Business Advisors Podcast

Play Episode Listen Later Aug 21, 2026 33:44

What are the biggest Social Security and retirement mistakes retirees make? Toby Mathis and Erin Moriarity break down when to claim Social Security, Social Security taxes, Roth conversions, Medicare and IRMAA surcharges, the 4% rule, retirement income strategies, long-term care costs, and how to avoid running out of money in retirement. Learn how smarter Social Security planning, Medicare planning, tax strategies, and retirement withdrawal decisions can help you build a more secure retirement. Check out Erin's Channel

money building surprise medicare social security roth retirees medicare advantage do you have this video irmaa qualified charitable distributions save your seat

Ep 337: Retirement Myths, Busted: What Financial Planners Really Think About Retirement with Stephanie McCullough

52 Pearls: Weekly Money Wisdom

Play Episode Listen Later Aug 18, 2026 40:17 Transcription Available

Retirement talk tends to fixate on a magic number, but Melissa Joy, CFP®, and fellow financial planner and podcaster Stephanie McCullough argue the real work happens well before and long after that number is reached. In this candid conversation, the two planners compare notes on what they see in their own practices: clients who retire on a fixed rule of thumb only to discover it doesn't flex with real life, retirees who under-spend out of fear even when the plan says they can afford more, and families quietly overwhelmed by aging parents' finances, unspoken inheritances, and adult children who haven't yet launched.Melissa and Stephanie also dig into the myths that shape how people think about retirement long before they get there, from the outdated idea that retirement equals age sixty-five, to the belief that a portfolio should get more conservative simply because a client is getting older. They close with a rapid-fire round covering the most overrated retirement rule of thumb, the most underestimated expense, and what people should and shouldn't be losing sleep over, before reflecting on how their own work with retirees has shaped how they each plan to retire themselves.What You'll LearnWhy the idea that retirement equals age sixty-five is outdated, and how ageism, layoffs, and longer lifespans complicate that mathWhy Melissa and Stephanie now encourage many clients to spend more, not less, in the early years of retirementThe difference between a plan “failing” and a plan needing adjustment, and why that framing mattersWhy the four percent rule and age-based portfolio allocation are two of the most overrated pieces of retirement conventional wisdomThe most underestimated retirement expenses, including Medicare surcharges (IRMAA) and dental careHow to navigate family conversations about aging parents' finances, inheritance, and adult children who still rely on financial supportWhy having a plan for aging in place, or choosing not to, is one of the most overlooked parts of retirement planningWhy even confident self-managed investors need a transition plan for handing off financial management as they ageThe previous presentation by PEARL PLANNING was intended for general information purposes only. No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING's investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING's current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...

retirement medicare cfp financial planners mccullough aging in place myths busted brochure carehow agethe irmaa retirementthe melissa joy pearl planning

4 TSP Withdrawal Mistakes to Avoid - Spending With No Regrets

The Houston Midtown Chapter of The Society for Financial Awareness Presents MONEY MATTERS with Christopher Hensley

Play Episode Listen Later Aug 18, 2026 5:25

Your TSP withdrawals can trigger consequences you never see coming — and sometimes "doing nothing" is the biggest mistake of all. In this short video, Charles walks through the TSP withdrawal traps that quietly cost federal retirees: lump sums that bump your tax bracket, Medicare premium spikes (IRMAA), a hidden jump in how much of your Social Security gets taxed, and RMDs that take the wheel if you don't plan.━━━━━━━━━━━━━━━IN THIS VIDEO YOU CAN LEARN━━━━━━━━━━━━━━━- How a big lump-sum withdrawal can push you into a higher tax bracket- How TSP withdrawals can spike your Medicare Part B premium (IRMAA)- How you can accidentally make more of your Social Security taxable- Why doing nothing lets RMDs — and the IRS — take control in your 70s- Why "purposeful and intentional" withdrawals need a written planAre you planning your TSP withdrawals — or leaving it alone and hoping it works out? Drop a Y or N

Money Matters Episode 348-The Widow's Medicare Penalty: What Every Couple Needs to Plan For W/ Mark Annese

Play Episode Listen Later Aug 17, 2026 25:40

A surviving spouse may retain much of the household income—but suddenly face higher Medicare premiums and tax brackets. In Money Matters Episode 348, Christopher Hensley speaks with IRMAA Certified Planner Mark Annese about the widow's Medicare penalty and other retirement decisions that can trigger IRMAA. IRMAA—the Income-Related Monthly Adjustment Amount—is an additional charge applied to Medicare Part B and Part D premiums based on income reported two years earlier. Roth conversions, required minimum distributions, investment sales, and other seemingly reasonable financial decisions can create unexpected Medicare costs later. In this episode: • What IRMAA is and how the two-year income lookback works • Why the death of a spouse can create a "widow's penalty" • How Roth conversions and RMDs may affect Medicare premiums • When an SSA-44 appeal may be available after a life-changing event • Why Medicare planning should be coordinated with retirement and tax planning • How advisors can model potential IRMAA consequences before decisions are made Guest: Mark Annese, IRMAACP™ IRMAA Certified Planner, Advisor Coach, and Solutions Architect Retirement Advisor Pro: https://www.retirementadvisorpro.com Host: Christopher Hensley, RICP®, CES® Money Matters Podcast: https://www.moneymatterspodcast.com Watch the video episode: https://youtu.be/ObQJ6HQhdj4 This program is provided for educational purposes only and does not constitute individualized investment, tax, legal, or Medicare advice. Medicare premiums, income thresholds, and regulations change over time. Consult qualified professionals about your individual circumstances.

couple medicare widow roth penalty consult money matters ssa part d rmds medicare part b ricp irmaa

Social Security, IRMAA, Roth Conversions, Roth Contributions, TEFRA: Q&A #2633

Play Episode Listen Later Aug 15, 2026 80:41

Jim and Chris discuss listener emails on the Social Security Fairness Act, an IRMAA question involving deferred compensation, Roth conversions before and after key age milestones, Roth contributions for high-income catch-up savers, and how TEFRA affects an inherited annuity. (9:45) — A listener disagrees with the show’s characterization of the Social Security Fairness Act as unfair, explaining that after paying into both a government pension and Social Security for 40 quarters, she believes receiving both without penalty is fair for her situation. (27:45) — The guys field a question from a retiree who retired in 2025 and will receive deferred compensation payments through 2029 that push his income over the IRMAA threshold. He wonders whether he can file an SSA-44 in 2029 to eliminate the IRMAA surcharges. (37:00) — Jim and Chris are asked to revisit a recent discussion on moving money from Traditional to Roth accounts instead of taking distributions, with a listener wanting more detail on the implications of doing so before age 59 and a half and after RMD age. (48:30) — George asks for the pluses and minuses of continuing Roth 401(k)/403(b) contributions later in life compared with investing in a taxable brokerage account, including how a 50-year-old might decide between the two and whether those aged 61-63 should use the Roth option for super catch-up contributions. (1:03:30) — A listener has several questions about TEFRA, including what it stands for, when it was enacted, and how it affects distributions from an inherited annuity listing Pre-TEFRA and Post-TEFRA cost basis. The post Social Security, IRMAA, Roth Conversions, Roth Contributions, TEFRA: Q&A #2633 appeared first on The Retirement and IRA Show.

retirement traditional social security roth contributions ssa rmd roth conversions irmaa tefra

Worst Case, Ready

risk retirement leverage roth diversification retirement planning roth ira long term care worst case roth conversions market crashes irmaa roth 401k

Play Episode Listen Later Aug 10, 2026 31:22 Transcription Available

Financial Physics rule five asks the uncomfortable question every investor should answer: what is the worst that could happen? Don and Tom revisit leverage in 1929, the crashes of 2000, 2008, and 2020, and the practical defenses that keep a bad market from becoming a ruined plan.Then the questions turn to retirement planning: managing IRMAA while considering Roth conversions, weighing long-term-care insurance against self-insuring, and judging whether a $1.6 million portfolio can support a modest withdrawal despite a pricey advisor.Finally, they untangle the five-year rule when Roth 401(k) money moves to a Roth IRA—and confirm that Tom, not Don, is the resident grump.00:39 Financial Physics rule five: prepare for the worst04:35 Leverage, crashes, and the lost decade06:27 Risk near and in retirement12:23 IRMAA brackets and Roth conversions16:46 Long-term-care insurance or self-insure?22:30 Retirement withdrawals and advisor fees24:34 Roth 401(k) rollovers and the five-year clockQuestions? Comments? Click!

Before You Retire: Annuity Fine Print, Marriage Money Talks & Tax Traps

Dollars & Sense with Joel Garris, CFP

Play Episode Listen Later Aug 10, 2026 38:27

Retirement planning is about more than simply saving enough money. In this episode of Dollars and Cents, Joel Garris breaks down several important issues retirees and pre-retirees should understand before making major financial decisions.First, Joel discusses the continued surge in annuity sales and why investors should be cautious before signing a long-term insurance contract. With record amounts of money flowing into annuities, he explains why these products are often complex, commission-driven, and full of fine print that can affect flexibility, access to money, and the true value of advertised guarantees.Then, the conversation shifts to retirement planning for couples. Joel shares several conversation starters every married couple should consider before retirement, including what retirement actually looks like, how each spouse thinks about money, when each person wants to retire, and where they want to live. These lifestyle expectations can be just as important as the financial projections.Finally, Joel covers tax surprises that can catch retirees off guard, including the taxation of Social Security, Medicare premium increases tied to income, required minimum distributions, and the surviving spouse tax trap. If you're approaching retirement or already there, this episode offers practical reminders to ask better questions, plan ahead, and avoid costly surprises.

In Retirement, More Spending Leads to Higher Taxes

Motley Fool Money

Play Episode Listen Later Aug 8, 2026 12:24

That vacation, RV, or home renovation you're planning in retirement might cost a lot more than the price tag suggests. One extra withdrawal from your IRA can set off a chain reaction of higher taxes and even surprise Medicare surcharges — for years to come. Robert Brokamp breaks down the hidden math behind retirement spending, and what you can do now to keep more of your money.Key topics discussed:-The tax "snowball" effect: how one year of higher spending can force bigger withdrawals in following years just to cover the tax bill, compounding the cost over time-Uncle Sam loves seniors: tax benefits for the 65-and-older crowd result in a lot of tax-free income – but spending beyond certain levels can result in a quickly accelerating tax bill-Two hidden costs of spending more: how bigger withdrawals can trigger taxes on Social Security benefits and surprise IRMAA surcharges on Medicare premiums-How to soften the blow: why building up Roth assets and paying off debt before retirement can protect you from these tax trapsHost: Robert Brokamp, CFP®, EAEngineer: Bart Shannon Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We're committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

leads investors retirement spending rv medicare fools cfp social security roth uncle sam advertisers motley fool higher taxes tmf irmaa robert brokamp

The Correct Way to Plan for Healthcare in Retirement

The Wise Money Show™

Play Episode Listen Later Aug 8, 2026 42:14

Healthcare could be one of your biggest expenses in retirement, but are you actually planning for it? In this episode of Wise Money, we break down how much you should budget for Medicare and healthcare costs, including what to consider if you retire before age 65. We also discuss IRMAA, HSAs, long-term care, and how rising healthcare costs could impact your overall retirement plan. Season 11, Episode 51 Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/schedule-a-call/ or call 574-247-5898. Watch this episode on YouTube: https://youtu.be/PN9_n9auveY Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow Listen on podcast: https://pod.link/1040619718 Submit a question for the show: https://www.korhorn.com/ask-a-question/ Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ Connect with us: Facebook - https://www.facebook.com/WiseMoneyShow Instagram - https://www.instagram.com/wisemoneyshow/ Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results. This video may discuss estate planning concepts but does not constitute legal advice. Please consult an attorney for advice specific to your situation. Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.

united states healthcare llc retirement standards medicare asset correct cfp financial planning certified financial planners hsas irmaa wise money certified financial planner board joshua gregory

Federal Employees Are Withdrawing TSP in the Wrong Order—Here's the Cost

Play Episode Listen Later Aug 7, 2026 16:43

Have a Financial Advisor for Federal Employees respond to your questions. Apply for a Retirement Consultation:https://apply.cdfinancial.org/6a694299bad1c9a176cdc79f/Two federal employees retire the same year with the same TSP balance. Five years later, one has paid tens of thousands more in taxes. The difference wasn't the market — it was the withdrawal decisions. In this episode, Charles and Marcus walk through the five TSP withdrawal mistakes behind that gap, and how to avoid each one.━━━━━━━━━━━━━━━START HERE━━━━━━━━━━━━━━━Apply for a Retirement Consultation:https://apply.cdfinancial.org/6a694299bad1c9a176cdc79f/Get the Digital Federal Retirement Guidebook:https://cdfinancial.org/being-a-federal-employee-book/Subscribe for Weekly Federal Retirement Planning Content:https://cdfinancial.com/newsletter━━━━━━━━━━━━━━━IN THIS EPISODE━━━━━━━━━━━━━━━- Mistake 1: the big lump sum — why cutting into the "wheel of cheese" too fast can't be undone- Mistake 2: why the tax withheld is NOT the tax you owe (and the filing-season surprise)- Mistake 3: withdrawal order — how pulling from the wrong bucket can cost more than a bad market year- Mistake 4: timing that trips IRMAA and bracket creep — including the 2-year lookback- Mistake 5: the fix — a written withdrawal sequence before you separate- Why the goal isn't the lowest tax THIS year, it's the lowest tax over 20–30 years━━━━━━━━━━━━━━━TIMESTAMPS━━━━━━━━━━━━━━━0:00 Same Balance, Tens of Thousands Apart0:31 Welcome — CD Financial Podcast2:13 Mistake 1: The Big Lump Sum (The Wheel of Cheese)3:42 Mistake 2: Withholding Isn't Your Real Tax Bill6:24 Mistake 3: Withdrawal Order — Traditional vs. Roth7:48 Sailing the Tides: Adjusting Year to Year9:30 Lower Brackets Now = Smaller RMDs Later11:55 Mistake 4: IRMAA & Bracket Creep (2-Year Lookback)14:52 Mistake 5: The Written Withdrawal Sequence16:10 Watch Next: FERS Retirement Explained━━━━━━━━━━━━━━━WHO WE ARE━━━━━━━━━━━━━━━CD Financial helps federal employees and retirees make smarter retirement decisions around FERS, TSP, taxes, Medicare, and retirement income planning — where health meets wealth.━━━━━━━━━━━━━━━IMPORTANT DISCLAIMER━━━━━━━━━━━━━━━Advisory services are offered through CD Financial LLC dba CD Financial, an Investment Advisor in the State of California. Insurance products and services are offered through CD Financial & Insurance Services LLC, an affiliated company.Educational only; not financial, legal, tax, or investment advice. Tax brackets, IRMAA thresholds, Social Security taxation, and RMD rules depend on your individual situation and change yearly — verify with the IRS, SSA, and a qualified tax professional before acting. Client examples are anonymized and illustrative.#TSP #TSPWithdrawals #FederalRetirement #IRMAA #TaxPlanning #CDFinancialSupport the show

The DIY Retirement Plan — Where It Works and Where It Gets Expensive

Plan With The Tax Man

Play Episode Listen Later Aug 6, 2026 19:19

There's an entire television network dedicated to doing things yourself — home renovation, landscaping, interior design, all of it. And the DIY mentality is genuinely admirable. But when it comes to retirement planning, the stakes of a bad install are a little higher than a crooked backsplash. Let's talk about what DIY planning actually looks like in practice. Important Links: Website: http://www.yourplanningpros.com Call: 844-707-7381 ----more---- TRANSCRIPT: Speaker 1: We've created an entire television network dedicated to doing things yourself. Everywhere you turn, it's DIY, this and that, home renovation, landscaping, interior design, all of it. And the DIY mentality is genuinely admirable. But when it comes to retirement planning, the stakes of a bad install are a little higher than just a messed up backsplash in your kitchen. So let's talk about that this week, the DIY movement in retirement planning and what that looks like actually in practice. Hey everybody, welcome into the podcast. This is Plan With The Tax Man with Tony Mauro. And we're going DIY this week, Tony, little pitfalls of doing things yourself. Everybody does it to a certain degree in many walks of life. You and I both have done a lot of DIY things ourselves, but certainly when it comes to the financials, this is maybe room to pause and think about this. Technology, Tony, has changed. It's super easy to do a lot more things. Absolutely. I'll agree with that. I'm sure you will too. But the complication of preservation and distribution, AKA retirement, is vastly different than accumulation. So let's talk about that this week a little bit. How are you doing, my friend? Tony Mauro: I'm doing good. [inaudible 00:01:36]. Speaker 1: Do you agree with my statement there? Tony Mauro: I agree with your statement. Yeah. And I love this topic for a lot of reasons because I think as we... Well, in the world we live in, especially with the AI advancements and whatnot, it's just getting worse and worse. Everybody wants to do everything themselves. And I think a lot of times, and I'm one of them too- Speaker 1: Sure. Tony Mauro: ... I used to love doing home renovations because I enjoyed it. But now that I'm a little older and I try to preach this to my son and whoever will listen, is you need to outsource everything that you're not good at or you don't enjoy because that's going to free you up to do what you do enjoy and/or make money. And we do it at our business here. I mean, I don't touch the IT. I don't touch the phones. Now, could I, and try all that? Yeah, sure. Speaker 1: Sure. Tony Mauro: It clutters up my life too much. And I want to give it to the guys that are good at it. And so yeah, I agree with your statement wholeheartedly. Speaker 1: And it's one of those things where we certainly know in this world it's been more and more difficult, especially post-COVID, to get people to show up and maybe do quality jobs in different aspects of things. Tony Mauro: Sure. Yeah. Speaker 1: And so everybody feels like, "I'm just going to take on this." What's the old saying? If you want it done, right, do it yourself? Tony Mauro: Right. Do it yourself. Speaker 1: And that could be true. But I mean, my brother and I are fairly handy and we built some things around my property, Tony, but when it came time for a complete overhaul of the back deck and building a roof on it and all this kind of other stuff, I just did not feel comfortable in our skillset, so I farmed it out. Did it cost me more? Yeah, probably. But then again, maybe not because how many times might I had to double back and fix something that I didn't do right the first time because I don't have the skillset or the longevity of doing these things. So financially speaking, I think that same thing happens. There's so many tools out there now. And growing the money... I mean, Tony, check this out. So you might know this off the top of your head, but if you don't, don't look it up. Just give me a quick educated guess. At the time we're recording right now, how much do you think the S&P 500 is up the last five years? Tony Mauro: Cumulative? Speaker 1: Yeah. Cumulative. Give me an idea. What do you think? Five years. Tony Mauro: Five years, I'm going to say 45%. Speaker 1: Okay. How blown away are you that it's 75? Tony Mauro: That doesn't blow me away. Speaker 1: Okay. Tony Mauro: I was thinking a little higher, but no, it doesn't blow me away. Speaker 1: Okay. 75. Crazy, right? Tony Mauro: Yeah. Speaker 1: Five years cumulatively, the S&P 500 is up 75%. The Dow up 50 over that same period. So it's easy for people to go, "Oh man, you can be an idiot and throw a dart at something and do well." But when it comes time for the... As we get closer to financial or retirement, excuse me, distribution, there's a lot more at stake. And I think this is where people start to find themselves at a crossroads. And do you find that? Do you have people coming in that are like, "I've been doing it myself, Tony, but there's a lot I don't know and I'm getting a little nervous. I want to make sure I don't screw this up because this is my forever money"? Tony Mauro: They do. And that's how a lot of people come to us. And if they've been doing things themselves, we certainly don't tear apart what they're doing, but we just try to ask a lot of questions and make sure that not only... Because a lot of people come in, "Well, I've been doing this myself and I've been averaging 10% a year or I've been beating the S&P 500." Speaker 1: Sure. Tony Mauro: And I say, "Well, okay. We really have you... Let's see, but that's good." And then the first question as I ask is, "What do you have for an emergency fund?" And they have a strange look on their face. And we start talking about that. I said, "Well, what about you... Tell me about your assets and things. And then we'll get to the part of, well, what do you have for life insurance?" And so some of that stuff they don't think about. All they're thinking about, "I throw my dart at the board. I'm investing in this. It's growing. I should be okay." And that may be the case, but there's more to a comprehensive, keyword, financial plan. Speaker 1: And you may be doing well, right. So think about my analogy a second ago about what the numbers have done. So let's say you had a million bucks [inaudible 00:05:37] on the S&P 500, you're up half a million dollars over five years. And you're thinking, "Man, I got this thing figured out." Great. Okay. So now you got a 1.5 million sitting in this account, you're getting close to retirement and you got to start pulling this money out. And now you don't realize the things that you're triggering. So your income strategy is going to affect some other things. It's going to affect your Medicaid or your Medicare, excuse me. So you're going to get those issues. You got to start dealing with the IRMAA situation. That catches people off guard. The taxation of the whole thing, Tony, is what catches a lot of people off guard. That's where a lot of people are going, "Okay, this is why I definitely need help. How can I be more efficient here?" And with you being a CPA and a CFP, you're thinking about the tax situation, but as well as the future planning. Tony Mauro: That's right. And some of those triggers you're talking about are exactly what I think a lot of people miss really with a good advisor. With us, we're looking always at, we know you want to get the most money, especially around retirement. Speaker 1: Sure. Tony Mauro: We got to do it tax efficiently because we don't want to give the feds any more than you have to. So let's think about it. And let's take everything into account, Social Security and everything else you might have coming in, to make sure that that's the case, that we're always on track with that. And don't miss that by too much because it's just ineffective. And at the end of the day, you bleed money and you don't even know it. Speaker 1: Yeah. I mean, I can see somebody coming in DIY or they've done well. Let's just go with a million bucks, Tony, because it's easy. They've got a million dollars in their portfolio. And they come in and they're like, "Hey, I heard Ramsey talking about taking 8%. I've done the math. I'm going to pull 80 grand out a year, blah, blah, blah. I should be good to go, right?" You know what I mean? And it's like, that's a quick back of the napkin thing. It's like, "Well, all right, the 4% rule is half of that. The guy who created the 4% rules moved it to 4.7." But for easy math, Tony, you could sit there and go, "Well, does 40,000, if we go with the 4% rule, does it get it done? Does it drive the plan?" Because Ramsey's thing is, "Well, if the market averages 10% year over year at minimum, why not take 8%?" But of course, the downside of that, Tony, is that to make that happen, you're 100% invested in the market. And I think again, as we age, we're not really comfortable taking that amount of risk. Tony Mauro: No, no. And I think that's one of the flaws that a lot of DIYers end up with is they'll come in with some... We use that example. Speaker 1: Rule of thumb. Yeah. Tony Mauro: Just that rule of thumb, yeah. And when we sit down and start putting some numbers to that and their situation, most of the time... And I like Dave Ramsey's stuff about getting out of debt, staying out of debt, saving and whatnot. I don't agree with the 8% year-over-year. I think that's too aggressive based on things that happen not only in the market, because he's assuming it earns 10% every year. We know it does not, even though lately it's been way up. But what if you go through a stint right when you retire that it goes up 10% one year? And then we have a situation like from '04 through '08 where the market did nothing and go down. Each year you're drawing that same amount out on a lesser principle. You start going downhill very quickly. I think something like that is unsustainable long term. And you don't want to get into that doing it yourself and then be 75, 80 and out of money and scratching your head saying, "Man, where did I go wrong? This was supposed to work." I think that's where a planner can lend some value. I'm not saying that... Speaker 1: Do you- Tony Mauro: Go ahead. Speaker 1: I was just going to... No, finish your thought, please. Tony Mauro: I was just going to say, I'm not saying you may not do that, but I think you should do some sort of hybrid of that. If you want a little more money out, maybe not take it out maybe in the good years. In the bad years, no. It should be 4, 4.5. Speaker 1: Well, that's a great point, right? So you can do the back of the napkin thing and say, "Okay, yeah, 4% might make it work." But you're going to have some lean years, you're going to have some better years, right? So it's got to be able to continue to shift and change. And that's what a good strategy and working with a financial professional does because you guys are going to do these reviews, you're going to make tweaks along the way. And sometimes people I think get hung up in the fact too, Tony, that they see these rules of thumb or whatever, like the rule of a hundred or something. They'll look that up, they'll read that and they'll go, "Oh, okay. So it says take my age and that should be safe. So I'm 60, so 60% of my portfolio should be in safe, 40% at risk." Okay. Yeah, that's a great place to maybe start. But when you guys start diving in and really dissecting the individual or the couple, oftentimes you find that that's not good for both people. And that's another piece of this too. The DIY thing, are you taking into account both people? And does the second person share your DIY enjoyment? Because what happens when you die if you're the person doing it all and they don't want to do it and they don't know anything about it? And now you've left them behind the eight ball too. So that's something- Tony Mauro: You've left them a mess. Speaker 1: Yeah. Tony Mauro: We encounter that a lot because the DIYers, and I think that's one of the mistakes that they make, is the DIYer really loves to do it, for example. And the spouse does not. Speaker 1: Sure. Yeah. Nothing wrong with that, right? Tony Mauro: Nope. And then what happens is when the DIYer goes and they haven't talked about it, the spouse, you've left them with a complete disarray mess and they have no idea where to turn to. And they're trying to deal with all of this. We just talked about it on the last episode about leaving people with a mess, is you don't want to do that. So I think that's one of the mistakes that people make there for sure. I think another one really is that they tend to get so fixated, especially when things are going good, to chasing the highest return. They always find it funny when I say, "Look, return is important, but it's not the only driver." And they look at me kind of funny like, "Well, you're a planner. You're supposed to be... I'm paying you to get me the best return." Speaker 1: "I want all the money, man. I want all the money. I want to stick it in my ears and go blah, blah, blah." Yeah. But that's a great point, Tony, because okay, let's say you're chasing this aggressive return because the market has been on a tear and you want this higher return. And you go through, you have the planning process with someone like yourself, Tony, and you find out that 5 or 6% return gets it done. Drives your plan, gives you more than you need because maybe you got a pension. Maybe there's two pensions in your family plus Social Security. So you find out you really only need to be... Your risk level could be much lower and still really drive your plan effectively. But you're taking way too much risk because you want to max it out. And then what happens? Inevitably, Murphy's going to strike. We're going to have a prolonged downturn because we haven't had one really in about 17 years. So we're way overdue for a prolonged. Not a little downturn for three months here, four months there, but like a prolonged downturn. And now you're really kind of screwed. That's the concern. Tony Mauro: That's the big concern, is right there because it's easy when things are going good and they have been for a long time. Where I think the financial planner really shows their value... I mean, I think we should try to show value all the time, but it's when things aren't going good, you can point to, we're fine. We're still earning a good rate. And if we are down a little bit, we're not down as much as the market. And you're still on track to win your game. Don't focus on the day-to-day returns. Just, "Here's our plan. If we know we can get there and maybe even a little more, we're fine." Speaker 1: Well, the diversification thing I think bites a lot of DIYers in the tush too, right? Tony Mauro: It does. That's another one. Speaker 1: Yeah. So using the rule of thumbs that are out there and then the diversification thing. "Well, I know I'm diversified. I know that's important. So I've got a bunch of stocks. I've got my Schwab account and I've got a bunch of stocks and I've got five mutual funds and I bought them from different companies just so that I'm well diversified." And it's like, yeah. And most of the time you guys go through training and do your forensic analysis. And it's like, "Congratulations. You got a whole lot of large cap in these mutual funds." Tony Mauro: [inaudible 00:13:50]. Speaker 1: And you got also high fees with these mutual funds. So there's just a lot we don't know when we don't do this every day. Tony Mauro: You don't. You don't. And just like every DIYer, I mean, every time I do a DIY, especially if it involves any type of real artistry, the pro always does it better because they're doing it all the time. Speaker 1: Right. Right. Tony Mauro: But I just had a guy come in last week and he was a tax guy and he was just kind of spouting off. He says, "You know what? I've got a couple of mutual funds." And he says, "I've been doing really well." He said, "But I'm very well diversified." Because I asked him, "How's your diversification?" "Oh, I'm diversified. I got two funds." And I said," Well, what are they?" And he gave them to me. Well, they're both small cap world funds that hold very aggressive stocks. I mean, they're from different parts of the world. But I said, "You're really not that diversified. First of all, it's foreign, which has a place in everybody's portfolio, but you have no large cap. You have no conservative. You have no nothing." I said," Do you have a financial plan?" "No, I just have these funds." I said, "Well..." Speaker 1: That's interesting, right? Because a lot of times we do see my analogy, which was a lot of times we see people come in and they've got a bunch of large cap because it's just- Tony Mauro: Large cap. Speaker 1: Yeah. They've got small caps. Tony Mauro: That's [inaudible 00:14:59] here. Speaker 1: Microsoft and Coke and so on and so forth. And you have four or five of those and they all have about 70% of the same exact thing in them. Tony Mauro: Same exact thing. Yeah. Speaker 1: And if it's all tech-heavy, well, what happens when tech takes a beating? Which obviously everything right now is tech heavy. So yeah, it's just, you're not as diversified as you think you are. And it's not just the portfolio, Tony, you started this earlier as well, and we'll finish with this. Part of the DIY thing that most of us just are terrified of and don't want to mess with, and this is I think probably what brings a lot of people to the door, is diversification of the portfolio and the income stream is one thing. Tax diversification is another, because that's an animal that... We're all terrified of the IRS. Tony Mauro: Yeah. I mean, at the end of the day, that is the truth. And I'm a big believer. I'm not anti-government, but I don't want to give them any more than we have to legally. So if we've got the opportunity within the rules that they set, let's make sure we're not doing that. Speaker 1: And tax diversification is a thing. Don't have it all just in the 401(k). So we've talked about this about a million times, right? So you need different kinds of tax buckets. Tony Mauro: You do. You need a lot of different tax buckets. And to make sure you're pulling money out, especially in retirement, as efficiently as possible, meaning trying to minimize your taxes. We've had people come in and they're just pulling money out of pre-tax money out of 401(k)s just because they didn't know any better when they have all this after tax cash sitting over here. Let's draw on that first and let's keep this other stuff growing. So it's just little things like that I think advisors lend a lot of value in this area. Speaker 1: Any final thoughts for the DIYers out there? Things that you've seen in your firm, people come in that maybe is the biggest kind of pain point for driving them in to see you or have we kind of covered them? Tony Mauro: Well, I think we've kind of covered, most of them, the pain points. I would just tell anybody out there that is starting to get nervous, if you've been doing things yourself and you're starting to feel whatever, anything, get with a planner. If anything else, and you're worried about, "Oh, well, I don't want to do it because I'm not going to use a planner," well, go in and have them charge you just a one-time fee. Have them take a look at what you've got and give you some advice. It might be worth whatever they're going to charge you to do that. And at least then you've got at least some objective opinions about what you're doing. And who knows, maybe you want to say it, you're getting to the point where it's like, "You know what? I'm done doing this myself. I want to be involved, but I want a planner. I want somebody to help me, especially in the distribution phase to make sure that things are going good." That would be my advice. Speaker 1: All right. Well, good stuff today here on the podcast. Look, there's nothing wrong with doing the DIY thing. It has its place in all walks of life and even financially. But some projects are a little worth calling a professional for, especially when the mistakes can really throw you into a real tizzy for the next 30 years. So if you've been handling your retirement on your own, a second set of eyes, a second opinion is certainly important. Tony and his team are here for just that. You may find that you've been doing a bang up awesome job, but you also may get educated, as Tony said, on some things you just didn't know about or see coming. And so it's worthwhile to have that conversation with yourself. Again, Tony's a CPA and a CFP, an EA of 30 plus years in the industry. So a great resource for you to tap into, not only in Iowa, but he's got clients all over the country as well. He's licensed to work in different states. So if you need some help, you're checking out the podcast, reach out to him, yourplanningpros.com. That's yourplanningpros.com for some time onto the calendar. Check out the tools and resources there. Subscribe to the podcast. Plan With The Tax Man on Apple or Spotify or whatever app you enjoy using, but certainly get yourself some professional help and advice. Tony, thanks for breaking it down, my friend, as always. Tony Mauro: All right. We'll talk to you on the next show. Speaker 1: We'll see you next time. Have yourself a great week. And thank you for some time here on Plan With The Tax Man with Tony Mauro from Tax Doctor, Inc. Securities offered through Avantax Investment Services SM, member FINRA, SIPC. Investment advisory services offered through Avantax Advisory Services. Insurance services offered through an Avantax affiliated insurance agency. Investment strategies discussed in this episode may not be suitable for all investors. Please consult with a financial professional.

covid-19 spotify ai apple man technology speaker microsoft iowa investment diy insurance congratulations expensive irs cpa tax aka drives medicare coke ea cfp medicaid social security ramsey dave ramsey securities dow schwab retirement plans inevitably finra cumulative sipc diyers diyer irmaa transcript speaker tony mauro

Three Funds, One Risk Dial

risk factor swing medicare funds dial arrived financial advisors matching vt holdings fractional buc capital gains index funds unwinding risk tolerance irmaa factor investing

Play Episode Listen Later Aug 5, 2026 37:40 Transcription Available

VT, DFAW, and AVGE all promise global diversification—but they take different roads to get there. Don and Tom compare cost, holdings, factor tilts, and the extra risk behind higher expected returns, then explain why the “best” one-fund solution depends on how much risk you actually need.Then a listener asks why advisors build portfolios with many funds when one might do. The answer runs through tax-loss harvesting, rebalancing, personalization, and the fine line between thoughtful design and a 20-fund hodgepodge.Also: the hidden tradeoffs in fractional rental-property platforms such as Arrived, why IRMAA anxiety can outweigh the actual Medicare surcharge, and a sensible way to unwind concentrated tech gains without detonating the tax bill.00:30 Swing-era cold open01:53 Three global funds, one decision03:29 VT, DFAW, and AVGE compared05:45 Recent returns and expense ratios06:47 Factor tilts: value, size, and profitability08:59 Holdings, frontier markets, and micro-caps10:40 Matching the fund to the risk you need14:52 Listener question: one fund or many?17:50 Why advisors use multiple funds22:08 Fractional real estate and Arrived25:47 IRMAA anxiety versus the actual surcharge28:56 Unwinding concentrated tech gains32:15 Buc-ee's, crypto, and trademark comedyQuestions? Comments? Click!

Medicare Explained Part II: IRMAA Explained + Real Medicare Case Study | Cheryl Lagunilla

Financial Planning Explained

Play Episode Listen Later Aug 4, 2026 32:36

This week on Financial Planning: Explained, host Michael Menninger, CFP®, welcomes back Cheryl Lagunilla, Health Insurance Advisor at Focused Health Access, to continue their Medicare discussion with a practical, real-world case study and an in-depth look at IRMAA (Income-Related Monthly Adjustment Amount). Building on the Medicare fundamentals covered in Part I, Mike and Cheryl walk through a realistic Medicare planning scenario to demonstrate how coverage decisions, enrollment timing, and income can affect healthcare costs in retirement. They also explain how IRMAA works, who is affected, and why higher-income retirees may pay increased premiums for Medicare Part B and Part D. The conversation highlights common situations retirees face when enrolling in Medicare, strategies for minimizing unexpected costs, and the importance of incorporating healthcare planning into an overall retirement strategy. Whether you're nearing Medicare eligibility, already enrolled, or helping a loved one navigate the process, this episode offers practical insights to help you make more informed decisions. Listeners will gain valuable insight into: What IRMAA (Income-Related Monthly Adjustment Amount) is and how it works How income affects Medicare Part B and Part D premiums A real-life Medicare case study and planning example Common Medicare enrollment and planning mistakes Strategies to help reduce unexpected Medicare costs How healthcare decisions fit into a comprehensive retirement plan Tips for evaluating Medicare coverage based on your personal situation Why proactive Medicare planning can help you avoid costly surprises Understanding how Medicare premiums are calculated—and how your financial decisions can impact your healthcare costs—is an essential part of retirement planning. This episode provides practical guidance and real-world examples to help simplify Medicare planning and prepare you for the road ahead. For more information on Menninger & Associates Financial Planning, visit: https://maaplanning.com.

building medicare case study cfp part d medicare part b irmaa lagunilla

Episode 123: Mailbag Part Two: Questions from Federal Employees

Federal Employee Financial Planning Podcast

Play Episode Listen Later Aug 3, 2026 45:04

Could a single dollar cost you hundreds more in Medicare premiums? In this mailbag episode, we answer some of the most common retirement planning questions from listeners, beginning with how to avoid IRMAA surcharges and why Medicare planning really starts at age 63. You'll learn how strategies like Roth conversions, bracket-topping, and Qualified Charitable Distributions (QCDs) work and why every strategy should be tailored to your individual financial plan. Access the full show notes at Mason & Associates, LLC Resources Mentioned: Mason & Associates: LinkedIn John Mason: LinkedIn Tommy Blackburn: LinkedIn

medicare roth federal employees irmaa

Episode 255 - Legislation To Reduce IRMAA & 59 Agents Lose Their Licenses!

The Seven Figures Or Bust Podcast!

Play Episode Listen Later Jul 27, 2026 53:38

ai va mississippi reduce medicare legislation licenses aep irmaa final expense dvh christian brindle lead heroes glen shelton christian brindle insurance services

Stuck With a Huge 401k? How to Reduce Retirement Taxes

The Wise Money Show™

Play Episode Listen Later Jul 25, 2026 42:22

If you've spent years building your 401(k), you could be heading toward a retirement tax problem you never saw coming. In this episode of Wise Money, we explore whether it makes sense to keep funding a Roth 401(k), switch to pre-tax contributions, or use Roth conversions to reduce future taxes. You'll also learn how tax diversification, IRMAA, required minimum distributions (RMDs), and long-term tax planning can impact your retirement income. Season 11, Episode 49 Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/schedule-a-call/ or call 574-247-5898. Watch this episode on YouTube: https://youtu.be/bI72d5qf8Gc Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow Listen on podcast: https://pod.link/1040619718 Submit a question for the show: https://www.korhorn.com/ask-a-question/ Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ Connect with us: Facebook - https://www.facebook.com/WiseMoneyShow Instagram - https://www.instagram.com/wisemoneyshow/ Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results. This video may discuss estate planning concepts but does not constitute legal advice. Please consult an attorney for advice specific to your situation. Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.

united states stuck llc retirement taxes standards reduce asset cfp roth financial planning 401k certified financial planners rmds irmaa wise money certified financial planner board joshua gregory

Brakes, Balance & $5 Million

moving building balance bonds cds treasury roth brakes diversification vt retirement planning heloc rmds roth conversions bnd 529 plans irmaa bond funds

Play Episode Listen Later Jul 24, 2026 34:19 Transcription Available

Bonds are supposed to be the brakes in a portfolio—but should those brakes be BND, a shorter-term fund, CDs, or a Treasury ladder? Don explains why duration, yield stability, and personal comfort make the answer more nuanced than one ticker.The Friday questions keep coming: pairing AVGE with VT, moving $5 million from real estate into a retirement portfolio, understanding an emerging-markets fund that became legally non-diversified, and building 529s for grandchildren.The final stretch is all planning: Roth conversions and IRMAA, choosing a HELOC over a 401(k) loan, and resisting the urge to let the tax tail wag the retirement dog.00:00 A full inbox of financial questions02:30 BND versus short bonds, CDs, and Treasury ladders06:45 AVGE plus VT—or unnecessary overlap?10:23 Moving $5 million from real estate into markets14:51 When an index fund becomes legally non-diversified18:18 Building 529s and Roth head starts for grandchildren22:16 Roth conversions, RMDs, and IRMAA25:23 HELOC or 401(k) loan for renovations?28:01 The tax tail and a long Roth-conversion planQuestions? Comments? Click!

How To Avoid Taxes On The Sale Of Your Primary Residence, #315

Retire With Ryan

Play Episode Listen Later Jul 21, 2026 17:29

For many retirees, their home isn't just a place of comfort, it's one of the largest assets on their balance sheet. However, beyond the emotional value and the years of accumulated equity, there's an often-overlooked reality: selling your primary residence can bring an unexpected tax bill. If you're contemplating a sale or want to ensure you're planning wisely, understanding the IRS's primary residence capital gains exclusion is essential. On the show this week, I break down what this exclusion means, who qualifies, how to maximize its benefits, and the critical planning steps to avoid a nasty tax surprise. You will want to hear this episode if you are interested in... [00:00] Understanding capital gains exclusion [03:52] Capital gains exclusion requirements [07:40] Reducing taxes on home sale [11:31] Calculating capital gains tax [14:57] Impact of capital gains on IRMAA The Primary Residence Capital Gains Exclusion Thanks to the IRS, many homeowners can exclude a substantial portion of the capital gains realized from the sale of their primary residence. Single tax filers can exclude up to $250,000 of gains while married couples filing jointly enjoy up to a $500,000 exclusion. In practical terms, this means if your gain from selling your home stays within these thresholds, you may owe no federal tax on that profit. Who Qualifies for the Exclusion? Before assuming you'll benefit from this significant tax break, it's important to meet all IRS requirements: 1. The Ownership and Use Test: You must have lived in the home as your primary residence for at least two of the five years preceding the sale. These years don't need to be consecutive, but they must total at least 24 months within the five-year window. 2. Exclusion Frequency: You cannot have claimed the exclusion on another home sale within the past two years. 3. Acquisition History: The property generally cannot have been acquired through a 1031 like-kind exchange in the previous five years. Special Rule for Widows and Widowers: If you've recently lost your spouse, you may still qualify for the full $500,000 exclusion if you sell within 24 months of your spouse's passing, don't remarry during this period, and have satisfied the other ownership and use requirements. Why More Homeowners Now Face Capital Gains Taxes Home values have seen record appreciation over the last three decades, but the exclusion thresholds haven't changed since 1997. A homeowner who bought in their 20s or 30s might now find that decades of appreciation have pushed them well beyond the exclusion limits—and into taxable territory. If your gains surpass the exclusion, any additional gains are taxed either as short-term (if you've owned the home for a year or less) or, more commonly for longtime owners, as long-term capital gains (taxed at 0%, 15%, or 20% depending on your income). Maximize Your Savings: Track and Increase Your Cost Basis One of the most effective strategies to reduce your taxable gain is to properly track and boost your home's cost basis. Your cost basis starts with your original purchase price and is increased by certain acquisition costs (settlement fees, title insurance, legal fees, etc.). Most importantly, capital improvements—such as room additions, roof replacement, major kitchen or bath remodels, or HVAC system upgrades—can be added. Routine maintenance and minor repairs generally don't increase your basis, so keeping thorough records of major projects and associated costs is crucial. Medicare Premiums and Tax Strategy Selling your home and realizing a large capital gain may bump you into a higher Medicare premium bracket, known as IRMAA, which can affect your Part B and Part D premiums a couple of years after the sale. This makes it essential to coordinate a home sale with your overall income strategy and consult both a financial advisor and CPA before listing your home. Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Download my entire book for FREE National Association of REALTORS® Avoid These 7 Scenarios to Keep Your Medicare Premiums Lower In Retirement #313 2026 Medicare Part B Premium Surprises, #282 7 Ways to Lower Your Income and Avoid the IRMAA Medicare Surcharge, #142 Connect With Morrissey Wealth Management www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan

Interview with Jon Bowles, Founder of JLB Financial

Influential Entrepreneurs with Mike Saunders, MBA

Play Episode Listen Later Jul 16, 2026 23:02

For nearly three decades, He has helped Southern California families plan for complex financial goals — building retirement income, protecting what they've earned, managing taxes, and passing on what matters to the people they love.Since 1997, Jon has worked with hundreds of individuals, families, and business owners to build and execute comprehensive retirement income plans. I've guided clients through two major economic downturns, and those experiences shaped the cornerstone of my practice: preserving capital comes first. Growth matters, but in retirement, what you keep matters more.His approach is holistic. He looks at the financial house from every angle — wealth management, retirement income, tax planning, Medicare and IRMAA exposure, Social Security timing, and legacy — because these pieces don't work in isolation, and neither should your plan. Trust review and trust planning are a core part of that work: he regularly helps families make sure their trusts still reflect their wishes, their assets, and current law — not the circumstances of a decade ago. And as an IRMAA Certified Planner, Jon pays particular attention to a cost most retirees never see coming: Medicare premium surcharges that can quietly drain tens of thousands from a retirement over time.Jon is a graduate of UCLA and began his career at Morgan Stanley Dean Witter, followed by Citi Personal Wealth Management and NettWorth Financial Group, before founding his own firm. That path — from Wall Street institutions to independent practice — was deliberate. Independence means his recommendations answer to people's goals, not a product shelf.Away from the office, Jon is a husband and father of three. His wife, an attorney, and I built our family the same way he helps clients build their retirements: with hard work, discipline, and a long view. Watching their kids grow into their own success is a daily reminder of why this work matters — a well-built plan isn't just about them. It's about everyone who comes after them.Whether they're just beginning to think about retirement or need a second opinion on an existing plan, He'll take the time to understand their unique situation and give them straight answers.Jon L. Bowles is an investment adviser representative with Secure Investment Management and holds California Insurance License #0C88392.Learn more: http://www.jlbfinanciallegacyplanning.com/Secure Investment Management, LLC (“SIM”) is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration as an investment adviser does not imply a certain level of skill or training. Our Form ADV disclosure documents are available upon request or on the SEC's Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-jon-bowles-founder-of-jlb-financial

founders trust growth financial watching wall street southern california ucla independence sec medicare social security securities exchange commission bowles irmaa mike saunders mike saundershttps

Interview with Jon Bowles, Founder of JLB Financial

Business Innovators Radio

Play Episode Listen Later Jul 16, 2026 23:02

founders trust growth financial watching wall street southern california ucla independence sec medicare social security securities exchange commission bowles irmaa mike saunders mike saundershttps

The Roth Conversion Checklist (AMA, E145)

The Best Interest Podcast

Play Episode Listen Later Jul 8, 2026 53:49

Are Roth conversions good for YOU? Why - or why not? Today's AMA episode is all about that topic. Looking for a financial planner? → PlanWithJesse.com In this Ask Me Anything episode, Jesse answers a wide range of listener questions about Roth conversions, moving beyond the basic mechanics to explore the nuanced trade-offs that determine whether a conversion creates value or simply accelerates taxes unnecessarily. He begins by reviewing the core Roth conversion framework, explaining that the strategy works best when investors can intentionally pay taxes today at significantly lower rates than they expect to face in the future, emphasizing that tax arbitrage—not tax avoidance—is the primary objective. From there, he tackles common questions about whether Roth conversions are truly necessary, arguing that even ideal candidates often view conversions as optimization opportunities rather than make-or-break retirement decisions. He explores the merits of micro-conversions versus larger bracket-filling conversions, the concept of "neutral" Roth conversions where tax rates remain unchanged, and the non-mathematical benefits that may justify them, including reduced future RMDs, protection against the widow's tax trap, estate-planning simplicity, and greater certainty around future tax policy. Jesse also examines whether retirees should prioritize Roth assets for heirs, cautioning that aggressive conversion strategies can sometimes leave both retirees and beneficiaries worse off if the taxes paid today outweigh future savings. Additional listener questions address the timing of Roth conversions, the dangers of trying to time the market, the elimination of conversion reversals under current tax law, and the importance of factoring state income taxes into conversion decisions, particularly for retirees planning interstate moves. He concludes with a comprehensive Roth conversion checklist covering tax bracket management, break-even analysis, Social Security taxation, IRMAA surcharges, ACA healthcare subsidies, charitable giving strategies, estate planning considerations, and numerous other interactions that can dramatically alter the value of a conversion. Throughout the episode, Jesse argues that Roth conversions are neither universally beneficial nor inherently necessary, but instead represent one of many planning levers that should be evaluated carefully through the lens of taxes, timing, opportunity cost, and long-term financial goals. Key Takeaways: • Roth conversions work best when current tax rates are meaningfully lower than future tax rates. • Roth conversions are often oversold as a universal solution. The correct Roth conversion amount is sometimes zero. • Roth assets are generally more attractive to heirs than traditional IRA assets. • Social Security taxation and IRMAA surcharges can dramatically increase the effective cost of conversions. • ACA healthcare subsidies can be reduced or eliminated by Roth conversion income. • Roth conversions should be evaluated within the context of a complete financial plan rather than as a standalone strategy. Key Timestamps: (01:20) – The Basics of Roth Conversions (04:31) – When to Do a Roth Conversion (09:08) – Roth Conversions Are Oversold (10:46) – Q1: Should I Just Not Bother with Roth Conversions? (15:28) – Q2: Should I Err on the Side of Too Small a Conversion? (19:23) – Q3: What About Neutral Roth Conversions? (24:57) – Q4: Should I Leave Roth Dollars for My Heirs? (28:48) – Q5: Dollar-Cost Averaging vs. Lump-Sum Roth Conversion? (32:59) – Q6: Can You Undo Roth Conversions? (36:33) – Q7: In What State Should I Do Roth Conversions? (41:26) – Q8: How Do Roth Conversions Interact with Social Security & IRMAA? (42:53) – The Roth Conversion Checklist Key Topics Discussed:The Best Interest, Jesse Cramer, Wealth Management Rochester NY, Financial Planning for Families, Fiduciary Financial Advisor, Comprehensive Financial Planning, Retirement Planning Advice, Tax-Efficient Investing, Risk Management for Investors, Generational Wealth Transfer Planning, Financial Strategies for High Earners, Personal Finance for Entrepreneurs, Behavioral Finance Insights, Asset Allocation Strategies, Advanced Estate Planning Techniques More of The Best Interest: Check out the Best Interest Blog at https://bestinterest.blog/ Contact me at jesse@bestinterest.blog Need a financial planner? → PlanWithJesse.com The Best Interest Podcast is a personal podcast meant for education and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

entrepreneur families investors basics conversion ama checklist social security roth financial planning risk management personal finance ask me anything aca financial strategies rmds roth conversions irmaa too small

Avoid These 7 Scenarios to Keep Your Medicare Premiums Lower In Retirement, #313

Retire With Ryan

Play Episode Listen Later Jul 7, 2026 16:09

Medicare brings peace of mind to millions of retirees, but for those with higher incomes, there's an added layer of complexity called IRMAA—the Income Related Monthly Adjustment Amount. If your modified adjusted gross income (MAGI) crosses certain thresholds, you may end up paying substantially more for your Medicare Part B and Part D coverage. In this article, we break down how IRMAA works, outline common scenarios that may unexpectedly raise your premiums, and offer actionable strategies to help you avoid unnecessary costs during your retirement years. You will want to hear this episode if you are interested in... [02:14] How IRMAA works [04:09] IRMAA income brackets and premium increases [05:43] General strategies and limitations for avoiding IRMAA [09:49] Managing Capital Gains and Medicare costs [10:41] Understanding the possibility of unexpected large gains pushing income higher [12:37] Impact of spouse passing on taxes [14:54] Avoiding IRMAA surcharge What Is IRMAA, and How Does It Work? IRMAA adds a surcharge to your standard Medicare Part B and Part D premiums if your income exceeds specific limits. The calculation uses your Modified Adjusted Gross Income (MAGI) from your federal tax return for the prior two years. For example, your 2026 Medicare premium is determined by your 2024 tax return figures. This "two-year lag" means financial decisions made today could impact your healthcare costs down the line. In 2024, the standard Part B premium is $202.90 per month. However, single filers reporting over $109,000 or married couples filing jointly above $218,000 pay $284 each per month, per person. Surpassing $137,000 (single) or $274,000 (joint) pushes your premium to $405.90—more than double the baseline. Part D premiums are also subject to surcharges, ranging from $14.50 to $91 per month at the highest income levels. Seven Scenarios That Can Trigger IRMAA—and How to Prepare While some situations are unpreventable, being aware of these common scenarios can help you make informed choices and potentially minimize your IRMAA exposure. 1. Municipal Bond Income: Not as Tax-Free as You Think Many investors favor municipal bonds for their federal tax-exempt status. Unfortunately, while this income is absent from your regular AGI, it is added back into your MAGI when calculating IRMAA. If you're relying heavily on munis in retirement, this could unexpectedly inflate your Medicare premiums. Consider alternative investments or relocating those assets into accounts or vehicles where this income is shielded, like certain annuities, after consulting with a qualified financial advisor. 2. Capital Gains on Your Home Sale When selling your primary residence, you can exclude up to $250,000 of gain if single or $500,000 if married, provided you meet the two-out-of-five-years residency rule. Gains above these thresholds are taxable and count toward your MAGI. Good record-keeping for home improvements can help increase your cost basis and reduce the taxable gain, but there aren't many strategies to avoid this spike if a large gain is unavoidable. 3. Profits from Investment Property Sales Selling an investment property can generate significant capital gains. But unique to investment real estate, the IRS allows you to defer these gains through a 1031 exchange—selling one investment property and reinvesting the proceeds into another. This move postpones the tax hit and the associated IRMAA impact, possibly indefinitely if you use the stepped-up basis at death. 4. Surprise Mutual Fund Capital Gains If you own mutual funds outside retirement accounts, unexpected capital gains distributions from within the fund (for example, after large stock sales like Apple) could spike your MAGI. To mitigate this, consider shifting from mutual funds to individual stocks, bonds, or exchange-traded funds (ETFs), which typically generate fewer surprise capital gains. 5. Roth Conversions are Great for Taxes, But Be Careful While Roth conversions can be powerful tax strategies, converting a sizable sum from a pretax IRA to a Roth IRA counts as income for IRMAA purposes. Carefully plan the size and timing of conversions to avoid pushing yourself into a higher premium bracket without realizing it. 6. The Financial Impact of Losing a Spouse Widowhood or widowerhood can be doubly difficult; not only do you suffer personal loss, but your filing status shifts to single, drastically lowering the income thresholds for IRMAA. If you expect changes in income or status, make proactive plans with your advisor to help smooth your MAGI. 7. Large, One-Time Retirement Account Withdrawals Big withdrawals from IRAs or 401(k)s—perhaps to buy a car or fund a vacation home—could catapult your income into a higher IRMAA tier. Consider spreading large purchases over several years or evaluating alternative financing options to keep retirement account withdrawals more manageable. Small Decisions Add Up While IRMAA might not be avoidable for everyone, being strategic about income sources, withdrawals, and investment choices can reduce surprises and keep more of your retirement income where it belongs—with you. Always consult with a financial advisor familiar with your unique situation before making significant financial moves. Keep your knowledge current and your planning proactive to support a more cost-effective retirement. Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Download my entire book for FREE 2026 Medicare Part B Premium Surprises, #282 7 Ways to Lower Your Income and Avoid the IRMAA Medicare Surcharge, #142 Mistakes To Avoid During Medicare Open Enrollment with Danielle Roberts, #229 Connect With Morrissey Wealth Management www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan

Social Security Survivor Benefits Case Study (Part 3): IRMAA & Roth IRA Conversions | Nick DeVito, CFP

Financial Planning Explained

Play Episode Listen Later Jun 30, 2026 28:27

This week on Financial Planning: Explained, host Michael Menninger, CFP®, and Nick DeVito, CFP®, continue their Social Security Survivor Benefits case study series with Part 3, focusing on three critical retirement planning strategies: IRMAA, the Rule of 72, and Roth IRA conversions. Building on the previous episodes, Mike and Nick explore how income planning, taxes, and investment decisions all work together when creating a successful retirement strategy. They break down how the Income-Related Monthly Adjustment Amount (IRMAA) can impact Medicare premiums, why proactive tax planning matters, and how retirees can potentially avoid unexpected increases in healthcare costs. The conversation also dives into the Rule of 72, a simple but powerful financial concept that helps investors understand how long it may take their money to double over time. Mike and Nick explain how this rule can provide perspective when evaluating growth, inflation, and long-term retirement planning decisions. A major focus of this episode is Roth IRA conversions and how they can be used as a tax-planning tool. They discuss when conversions may make sense, how tax brackets impact conversion decisions, and why strategically managing taxable income throughout retirement can help preserve more wealth for the future. Through this real-world financial planning case study, viewers will learn why Social Security, Medicare, investment management, and tax strategy should all be coordinated as part of a comprehensive retirement plan — especially during major life transitions like becoming a surviving spouse. Whether you're approaching retirement, managing inherited assets, navigating Medicare decisions, or looking for ways to reduce future taxes, this episode provides practical retirement planning insights to help you make more informed financial decisions. For more information on Menninger & Associates Financial Planning, visit: https://maaplanning.com

building survivors medicare case study cfp social security roth ira devito irmaa roth ira conversions survivor benefits

IRMAA: The Medicare Premium Surprise and How to Avoid It

Retirement Answer Man

Play Episode Listen Later Jun 24, 2026 49:37

This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, common planning mistakes to avoid, and what happens if you cross into a higher premium bracket. Listener questions cover gifting strategies with adult children, Social Security claiming options for spouses, health insurance before Medicare, long-term care planning, combining finances later in life, and the tax treatment of gifts. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Roger introduces IRMAA Medicare surcharges and explains why understanding them can help avoid surprises and unforced planning mistakes.RETIREMENT TOOLKIT(01:28) Roger breaks down IRMAA Medicare surcharges, explaining when they apply, why they matter, and how retirees can avoid being caught off guard by higher Medicare premiums. LISTENER QUESTIONS(15:11) John asks whether purpose-driven gifts to adult children impose the giver's values and how to balance generosity with expectations.(26:50) Joe asks how Social Security spousal benefits work when one spouse delays claiming until age 70.(31:50) Paul asks whether it's possible to wait until getting sick before enrolling in Affordable Care Act coverage.(33:41) Paul asks about using a Roth IRA as a self-funded long-term care reserve instead of purchasing long-term care insurance.(38:53) Suzanne asks for advice on combining finances in a later-life marriage between two retired widows.(45:43) Dave asks whether recipients of financial gifts owe taxes on the money they receive.SMART SPRINT(47:21) Roger's challenge this week: take a break from planning and simply enjoy life.ON THE BOOKSHELF(47:46) Kevin Lyles reviews The Stimulated Mind: Future-Proof Your Brain from Dementia and Stay Sharp at Any Age by Dr. Tommy Wood.REFERENCESlivewithroger.com — Register for Noodle Live on June 18!Submit a Question for RogerSign up for The NoodleON THE BOOKSHELFThe Stimulated Mind: Future-Proof Your Brain from Dementia and Stay Sharp at Any Age by Tommy WoodNote: The opinions expressed are for informational purposes only and should not replace personalized advice from licensed professionals.

surprise investing saving retirement register medicare dementia listener questions social security financial planning affordable care act retirement planning roth ira career planning life planning any age stay sharp irmaa tommy wood

Roth Conversions vs. RMDs: Which Tax Bill Hurts More? - 587

Your Money, Your Wealth

Play Episode Listen Later Jun 23, 2026 44:15

Financial Assessment (Meet with an experienced professional):https://bit.ly/PureFreeAssessment11 rapid-fire spitballs today from Joe Anderson, CFP®, and Big Al Clopine, CPA, on Your Money, Your Wealth® podcast number 587, on everything from Roth conversions and RMDs to whether a guy named Wayne can finally treat himself to a seventy-five-thousand-dollar Audi. Aaron in Syracuse just hit a million bucks in his 401(k) and realizes he needs a spitball on keeping his RMDs low. Do new Roth conversions restart the 5-year clock? 72-year-old Mike in Texas wants to know. Marion inherited a not-yet-five-year-old Roth, and an IRMAA problem along with it. Lu and Stephen each argue that the fellas' conversion and retirement spitball math might be misleading. Teachers Tony and his wife have pensions that cover everything, so should they even keep saving? John and Peggy need a retirement spitball, Rajesh wonders if he should pay off his mortgage or convert to Roth, and Mike in San Marcos asks about funding a Roth with pension money.Free Financial Resources in This Episode: https://bit.ly/ymyw-587 (full show notes & episode transcript)Retirement Accounts Guide - free download:https://purefinancial.com/white-papers/retirement-accounts-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-retirement-accounts-guide&utm_content=ymyw-pod-ep587-description-whitepaper401(k) vs. IRA vs. Equity Compensation: The Real Math - YMYW TV:https://purefinancial.com/ymyw/episodes/recipe-for-retirement-retirement-plans-explained/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep587-description-tv-s10e12Financial Blueprint (free, self-guided):https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep587-description-blueprintREQUEST your Retirement Spitball Analysis:https://bit.ly/AskJoeAndAlDOWNLOAD more free guides:https://bit.ly/PureGuidesREAD financial blogs:https://bit.ly/PureFinBlogWATCH educational videos:https://bit.ly/PureEdVideosSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWNewsletterConnect With Us:Subscribe on YouTube and join the conversation in the comments:https://bit.ly/YMYW-YTSubscribe or follow YMYW in your favorite podcast app:https://lnk.to/ymywLeave your honest reviews and ratings in Apple Podcasts:https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254Chapters: 00:00 - Intro: This Week on the YMYW Podcast01:32 - $1.1 Million in My 401(k) at 56: Should I Do Roth Conversions Before RMDs Hit? (Aaron, Syracuse, NY04:51 - Can You Fund a Roth IRA With Pension Money? (Mike, San Marcos, CA)06:14 - Can You Roll an UTMA Into a 529 for Tax-Free Education Savings? (Bob the Builder, Westchester, NY)10:29 - I'm 72 With a 25-Year-Old Roth. Do New Conversions Trigger the 5-Year Clock for Roth Withdrawals? (Mike, TX)11:43 - Inherited a Roth Less Than 5 Years Old: Are the Earnings Taxable? Can IRMAA Be Avoided? (Marion)15:59 - You Ignore Future Income! How to Spitball Spending When a Pension and Social Security Are Coming (Stephen)21:02 - Are Your Roth Conversion Calculations Misleading? Why Future RMDs Need an Inflation Check (Lu)24:57 - We're Teachers With Pensions That Cover Everything. Should We Stop Saving and Fund the 529s? (Tony, NY28:23 - $4 Million and Ready to Exit the Rat Race at 61. Do the Numbers Work? (John and Peggy, San Jose, CA34:37 - $4 Million 401(k) and a 6.5% Rental Mortgage: Pay It Off or Convert to Roth? (Rajesh)38:42 - We're 62 With $1 Million. Can I Finally Buy the $75K Audi, or Should I Lease? (Wayne, Long Beach, NY)43:17 - Outro: Next Week on the YMYW Podcast

IRMAA: Why Your Medicare Costs are Higher Than You Expected (and What You Can Do About It)

Retirement Revealed

Play Episode Listen Later Jun 23, 2026 25:22

Many retirees are surprised to learn that Medicare isn't always a fixed cost. If your income exceeds certain thresholds, Medicare can charge significantly higher premiums through a little-known rule called IRMAA (Income-Related Monthly Adjustment Amount). Even more surprising, those higher costs are often based on income from two years ago rather than what you're earning today. In this episode, Jeremy Keil (Mr. Retirement) explains how IRMAA works, why Medicare uses prior-year tax returns to calculate premiums, and what retirees need to know when planning Roth conversions, managing retirement income, and preparing for required minimum distributions. He also shares real-world examples of retirees who successfully appealed their Medicare surcharges after retirement reduced their income. If you've received an IRMAA notice—or want to avoid being surprised by one in the future—this episode will help you understand your options and how Medicare costs fit into a broader retirement tax strategy. For disclosures and conflicts visit keilfp.com/disclosures.

retirement costs expected medicare roth irmaa

Episode 234: Cash in Retirement: When to Hold It, When to Invest It

Retire With Style

Play Episode Listen Later Jun 23, 2026 34:42

In this final part of the Retire With Style Live Q&A, Wade Pfau and Alex Murguia answer a wide range of retirement planning questions covering annuities and life insurance surrender charges, the financial impact of losing a spouse, Roth conversions as a hedge against the "widow's tax penalty," tax-loss harvesting through direct indexing, dividend reinvestment strategies in retirement accounts versus taxable accounts, HSA withdrawal rules after age 65, and appropriate cash allocations in retirement portfolios. Throughout the discussion, they emphasize the importance of tax planning, understanding how different retirement income strategies align with personal preferences, and avoiding one-size-fits-all approaches when managing retirement assets and income. Listen now to learn more! Takeaways Surrendering an annuity early can trigger surrender charges, while permanent life insurance policies often take many years before cash value exceeds premiums paid. The death of a spouse can create significant tax challenges because the surviving spouse typically moves from married filing jointly to single tax brackets. Roth conversions can be an effective strategy for reducing future RMD burdens and mitigating the "widow's tax penalty" for a surviving spouse. Direct indexing and tax-loss harvesting allow investors to capture losses while remaining invested, potentially creating future tax benefits and improving after-tax outcomes. Tax-loss harvesting is no longer just for ultra-high-net-worth investors, as technology has made these strategies more accessible and scalable. In IRA accounts, continuing to reinvest dividends during retirement generally remains the simplest and most efficient approach. In taxable brokerage accounts, turning off automatic dividend reinvestment can make rebalancing and distribution planning more tax-efficient. HSA funds can be used tax-free for qualified medical expenses at any age, while after age 65 non-qualified withdrawals avoid the 20% penalty but still incur income tax. Medicare Part B, Part C (Advantage), Part D premiums, and IRMAA surcharges can generally be reimbursed from an HSA, but Medigap premiums cannot. Holding 40% of a retirement portfolio in cash may be excessive when annual withdrawal needs are relatively low, and could indicate a mismatch between an investor's retirement income strategy and personal preferences. Chapters 00:00 Tax Considerations in Asset Sales 01:57 Understanding Life Insurance and Annuities 04:03 Financial Implications of Spousal Death 06:23 Roth Conversions and Widow's Penalty 07:36 Tax Loss Harvesting Strategies 17:12 Dividend Reinvestment in Retirement Accounts 22:48 Using HSA Distributions for Medical Expenses 25:52 Cash Reserves in Retirement Planning Links Looking for a retirement strategy that's actually built for you? Join Alex Murguia on July 1 at 1 PM ET for a FREE Retirement Researcher webinar, Are You Sure Your Retirement Strategy Fits?, where he'll walk through the four major retirement income approaches and show how the RISA® Framework can help you identify the strategy that best aligns with your goals, preferences, and vision for retirement. Register here: retirewithstyle.com/podcast

amazon tips holding invest retirement register ebooks tax widow roth hsa rmd part d roth conversions medicare part b tax considerations irmaa medigap wade pfau

Financial Planning for High Earners-The Stability Lane Most People Skip

Insurance Pro Blog Podcast

Play Episode Listen Later Jun 21, 2026 40:42

If you earn $400,000 or more, much of the standard financial advice you encounter was written for someone with a very different set of circumstances. You can max the 401(k), buy index funds, and hold a 60/40 portfolio and still end up with a plan built almost entirely out of a single material: market-correlated growth assets. The discipline isn't the problem. The construction is. A useful way to look at your plan is to divide it into two lanes. The growth lane is everything priced by public markets — stocks, most bonds, real estate, anything subject to economic forces beyond your control. The stability lane is the part of your balance sheet whose job is to hold its value and be available on your schedule, regardless of what equities are doing. For most high earners, the stability lane is empty, and that matters more than it sounds. Sequence-of-returns risk — the order in which good and bad years arrive — can be the difference between finishing retirement with millions and running out of money, even when the average return is identical. Having two or three years of spending available from a non-correlated source means you stop selling equities into a decline, which is the only job the stability lane has to do. Taxes layer onto this in ways that get overlooked. The 3.8% Net Investment Income Tax kicks in at $250,000 of modified adjusted gross income for a married couple and hasn't moved since 2013. IRMAA — the income-related Medicare surcharge — operates as a cliff, not a ramp, with a two-year lookback that catches more high earners than you'd think. Both become easier to manage when part of your retirement income comes from sources that don't add to MAGI, such as cash value life insurance loans or certain annuity payments. The argument isn't that you should swap your portfolio for insurance products. It's that an all-growth plan has no lever to pull when these cliffs and surtaxes come into view. _______________________________ If you want to talk through whether your plan has a working stability lane — and what it would take to build one — you can schedule a 30-minute call or write us a message. No pitch, just a conversation about how the pieces fit together for your situation.

taxes skip medicare stability magi financial planning sequence earners irmaa

Forced Annuitization: EDU #2624

The Stacking Benjamins Show

Play Episode Listen Later Jun 17, 2026 66:18

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.

retirement forced secure act ird irmaa pithy lifo annuitization

Retirement Redzone, The Last Mile

Money On Tap

Play Episode Listen Later Jun 15, 2026 56:01

Ten straight up weeks, then a sharp pullback — and if you're two to five years on either side of retirement, the fear is real. This is the Retirement Red Zone: the last mile into and out of your retirement date, and the most fragile window in your entire financial life.This week on Money On Tap, Ben Brayshaw and Dan Michelon turn last week's market-history conversation into a practical playbook for anyone near retirement: how to avoid the paralysis that wrecked so many retirements in 2008–2009, and what to actually do right now.What you'll learn:Why a 35-year-old and a 65-year-old should do the opposite thing in a pullbackThe accumulation-to-distribution switch most people don't know existsWhat history says: after 40 sharp selloffs since 1980, markets were higher 75% of the time a year laterSequence-of-returns risk — why the first five years decide everythingBuilding a 1–3 year retirement runway with ~4% cash and T-billsRebalancing a 60/40 that drifted to 75/25Diversifying away from a top-10 that's now 40% of the S&P (8 of them tech)Buffered ETFs — a 20% buffer with a 12–15% cap, explainedFoundational income, annuities, and the tax-aware withdrawal piece most firms skipPlus Money In The News:Consumer prices rose 4.2% annually in May — the highest in three years (CNBC, Jeff Cox)Elon Musk poised to become the first trillionaire — and just how much a trillion dollars really isA top JP Morgan strategist's four ways to prep your portfolio for “considerable danger” (David Kelly)Mentioned on air: Our short sequence-of-returns risk video — watch it at brayshawfinancial.com.Read the companion blog: brayshawfinancial.com/blogSchedule a free consultation: app.greminders.com/t/9f3ce72e/initialconsultaFull Money On Tap episode library: brayshawfinancial.com/money-on-tapContact UsPhone: 855-226-8551Email: info@yourmoneyontap.comOffice: 116 South River Road, Bedford, NH 03110Web: brayshawfinancial.comWhat is the retirement red zone, and why does it matter? The retirement red zone is the roughly ten-year window covering the five years before and the five years after your retirement date. It matters more than almost any other period because of sequence-of-returns risk: a major market downturn while you're beginning to withdraw income can permanently damage the plan, even if the market later recovers. Two people who invest identically but retire a few years apart can end up with opposite outcomes based solely on timing. Navigating the red zone means shifting from maximizing gains to mitigating losses — stress-testing the plan, building a cash runway, rebalancing, diversifying, and adding guardrails like buffered ETFs and guaranteed income.

navigating retirement cnbc jp morgan etfs diversification bedford red zone annuity last mile irmaa comoffice

How to Add 1% to Your Portfolio Without Taking on More Risk (The Systems) SB1849

Play Episode Listen Later Jun 1, 2026 57:03

Most DIY investors spend their energy optimizing investments. The wealthiest investors optimize systems. According to Vanguard, a great advisor can add roughly 3% to your portfolio -- not by picking better stocks, but by keeping you from wrecking what you already have and by making the boring structural decisions most people skip. Joe and OG walk through the return boosters that actually move the needle, none of which involve a single exotic investment. OG and Anna follow up with the retirement withdrawal sequence that turns a good tax strategy into a great one.What You'll Walk Away WithWhy staying invested is the single highest-return move available to most investors -- and the Wall Street Journal archive experiment that proves it better than any chartHow news addiction creates the three portfolio killers: panic selling, market timing, and the constant feeling that today is the day to make a moveWhy your investment policy statement is a shock absorber between your emotions and your account -- and why advisors often beat DIY investors not by picking better funds but by being harder to reach on bad daysAsset location: the quiet return booster that moves money into the right tax shelter without changing a single investmentWhy tax loss harvesting is widely marketed to the wrong people -- and who actually has a strong use case for itSocial Security timing as a portfolio decision: why "I don't have to decide today" is sometimes the most financially sophisticated answer availableThe sequence of return risk trap that turns retirement into a constant anxiety loop -- and the simple margin of safety that makes it irrelevantThe lightning round: concentrated stock, leverage, crypto yield products, options trading, rebalancing, and tax efficiency -- return or trouble?OG and Anna on the distribution ladder: how to sequence withdrawals from pre-tax, brokerage, and Roth accounts to minimize taxes in retirementWhat IRMAA is, why it shows up two years after the decision that caused it, and why Roth conversions need to happen in November -- not MarchWhy This Matters NowIf you've been dollar-cost averaging into index funds and calling it a day, this episode is the next conversation. The gap between a well-built system and a random pile of investments isn't measured in which funds you chose -- it's measured in taxes paid, sequence of returns survived, and whether you had a plan when everything felt uncertain.From the BasementJoe and OG dig into the return boosters that have nothing to do with picking better investments -- recorded while OG is already inside Hollywood Studios at 4 AM trying to figure out the Lightning Lane math. OG and Anna deliver episode four of their financial basics series with a full walkthrough of tax-efficient withdrawal sequencing, including the IRMAA trap, Roth conversion timing, and why the tax triangle you built in season one is the whole point. Doug arrives with Studebaker trivia. The community delivers an anonymous car buying post that may be the most actionable 200 words the basement has produced all year. And the Stacking Benjamins Inner Circle scam gets called out by name.Resources MentionedStacking Benjamins Scorecard -- stackingbenjamins.com/scorecard; free tool to evaluate your current financial positionStacking Benjamins Basics Guide -- season one and season two workbooks free at stackingbenjamins.com/basicsguideStock Market Maestros episode -- linked at stackingbenjamins.com; on the habits of the world's best investorsStacking Benjamins YouTube channel -- youtube.com/stackingbenjamins; full OG and Anna basics seriesStacking Benjamins Vault -- stackingbenjamins.com/vaultStacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201Stacking Benjamins Community (The Basement) -- stackingbenjamins.com/basementStacking Benjamins Meetups (BAD Groups) -- stackingbenjamins.com/BADSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

money risk investing diy wall street journal retirement cfp roth financial planning personal finance vanguard hollywood studios lightning lane studebaker irmaa

Social Security, Withdrawal Strategy, HSAs, 4% Rule, Roths, Retirement Trust: Q&A #2621