Podcasts about irmaa

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.  

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

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.

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.

Many retirees assume they've missed their chance to take advantage of Roth conversions, but the reality is that age 65 may be one of the best times to start the conversation. Today, Nick and Eric explain how Roth conversions work and how strategic conversions may help reduce overall tax exposure. Roth conversions may not be beneficial for everyone, but every retiree deserves to explore whether this powerful strategy fits into their retirement plan. Here's what we discuss in this episode:

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.

Federal retirement planning at 60: if you're a year or two from retiring from federal service with a FERS pension, Social Security, and about $1M saved in your TSP, here are 5 decisions to make before you retire — so you stop asking "Am I okay?" and start building the retirement you actually want.This covers income order, TSP taxes and RMDs, Roth conversions, FEHB and Medicare timing, and IRMAA — gaps many federal employees miss before retiring.Apply for a Retirement Consultation: https://perspectivefunnel.co/682642d22275ec003bfa6626/691df07396253e003c42b434/?ps_hello=THE 5 DECISIONSYour numbers look fine — but you still don't feel okay. That's the gap we're closing.1) Income order — You've got three engines: your FERS pension, Social Security, and TSP. The pension turns on the day you retire. Social Security has a filing window from 62 to 70 — thousands of dollars a month for life. TSP is the lever you control. The real question: which do you draw from first, and which do you let grow?2) Taxes & RMDs — Required minimum distributions start between age 73 and 75 (depending on your birth year) from your Traditional TSP, IRA, and 401(k). They land on top of your pension and Social Security, which can push you into a higher bracket in retirement. The years before then are your Roth conversion / sequencing window. And IRMAA is a real Medicare surcharge that hits about two years later.3) Healthcare — FEHB is gold and stays with you in retirement. Medicare enters at 65: do you take Part B, skip it, or coordinate with FEHB? Miss the enrollment window and there's a late-enrollment penalty. Decide before the deadline, not after.4) Investments — You're shifting from accumulation to distribution. The portfolio that got you here often isn't the one that should carry you through retirement. Rethink risk and your TSP fund mix so a bad market doesn't force you to sell at the wrong time.5) Purpose — Plan what you're retiring TO, not just what you're retiring from. We've seen federal employees retire with $1M and go back to work in six months — no Monday-morning plan. Money is half the equation; structure, identity, and what's on your calendar are the other half.WHAT TO DO THIS MONTH: Lock your exact retirement date. Run three tax pictures (year one, when Social Security starts, when TSP/IRA withdrawals begin — and how much to withhold). Map your income order. Make the FEHB + Medicare call early. Write down your first 90 days on a calendar, not a spreadsheet. Do it intentionally, not perfectly.CHAPTERS0:00 Age 60, a Federal Pension, and $1M Saved — What Comes Next?0:27 Your Numbers Look Fine but Still Feel Unclear0:38 Decision 1 — Your Federal Retirement Income Order (Pension, SS, TSP)1:46 Decision 2 — TSP Taxes, RMDs, Roth Conversions & IRMAA2:46 Decision 3 — FEHB, Medicare Part B & Healthcare Timing3:34 Decision 4 — Shifting From Accumulation to Distribution5:38 Decision 5 — Planning What You're Retiring To6:19 What to Do This Month Before You Retire6:42 Apply for a Federal Retirement ConsultationMORE RESOURCESFederal Retirement Guidebook: https://cdfinancial.org/being-a-federal-employee-book/Take the Checklist Challenge: https://cdfinancial.org/checklist-challenge/Weekly Federal Retirement Planning Newsletter: https://cdfinancial.com/newsletterOPM Retirement Center: https://www.opm.gov/retirement-center/OPM FERS Information: https://www.opm.gov/retirement-center/fers-information/Social Security Full Retirement Age: https://www.ssa.gov/retirement/full-retirement-ageMedicare Late Enrollment Penalties: https://www.medicare.gov/basics/costs/medicare-costs/avoid-penaltiesWHO WE ARECD Financial helps federal employees and retirees make smarter retirement decisions around FERS, TSP, FEHB, Medicare, survivor benefits, and retirement income planning. Our mission: help federal employees retire with more clarity, confidence, and peace of mind. Subscribe for practical federal retirement planning content designed to help you understand your benefits, avoid common planning gaps, and prepare for your next chapter.DISCLAIMERThis video is for educational purposes only and is not financial, legal, tax, healthcare, or investment advice. Federal retirement decisions depend on your individual service history, agency records, health coverage, survivor needs, income goals, and personal circumstances. Always consult qualified professionals and review official OPM guidance before making retirement elections.Advisory services are offered through CD Financial LLC dba CD Financial, an Investment Adviser in the State of California. Insurance products and services are offered through CD Financial & Insurance Services LLC, an affiliated company. Opinions expressed are solely those of CD Financial. Information herein is derived from sources believed to be reliable but is not guaranteed as to accuracy or completeness.#FederalRetirement #FERSRetirement #FederalEmployees #RetirementPlanningSupport the show

Summary Most people know Medicare costs money in retirement, but few understand how much their income level affects what they actually pay. In this episode, Wade Borth unpacks IRMAA, the income-related surcharge that can quietly add $162 to $650 or more per month to your Medicare premiums, depending on what you earn. Wade walks through who gets hit, what counts as income in the calculation (including surprises like municipal bond interest and Social Security), and how a single dollar over the threshold can cost you hundreds of thousands of dollars over time. He also explains how properly structured whole life insurance creates an income stream that falls outside the IRMAA calculation, giving retirees a meaningful planning advantage. Key Takeaways IRMAA can add hundreds of dollars per month to Medicare premiums, and a single dollar over the income threshold triggers the full surcharge with no gradual phase-in. Every dollar of the surcharge has a compounding cost. That extra $162 per month, grown at 4% over 20 years, is worth nearly $60,000 in real wealth. Income sources many people overlook in the IRMAA calculation include capital gains, Social Security income, municipal bond interest, rental income, and Roth conversions. IRMAA looks back two years, so a one-time income spike follows you into retirement longer than most people expect. Properly structured whole life insurance, when funded correctly, provides an income stream through policy loans that does not count toward the IRMAA calculation, giving retirees real choices when managing retirement income. Links and Resources Sage Wealth Strategy: sagewealthstrategy.com Keywords IRMAA, Medicare premiums, income-related monthly adjustment amount, retirement planning, Medicare Part B, Medicare Part D, retirement income, whole life insurance, infinite banking concept, IBC, policy loans, capital gains in retirement, Roth IRA withdrawals, 401k withdrawals, Medicare surcharge, retirement mistakes, Wade Borth, Sage Wealth Strategy, wealth erosion retirement, family banking Episode Highlights [00:00:00 - 00:01:32] Wade opens with a lunch conversation where a friend approaching retirement had no idea how IRMAA would affect his Medicare costs. [00:05:15 - 00:08:17] Wade explains the $218,000 joint income threshold and how IRMAA brackets step up in full increments, not gradually. [00:08:18 - 00:09:21] One dollar over the threshold adds $162 per month to a couple's Medicare premium, a 40 percent increase with no phase-in. [00:09:22 - 00:12:24] At a 4 percent growth rate, that extra $162 per month is worth $60,000 over 20 years. At the top bracket, the 20-year cost reaches $238,000. [00:12:25 - 00:17:03] Wade walks through every income source factored into the IRMAA calculation, including capital gains, Social Security, municipal bond interest, and Roth conversions. [00:17:04 - 00:19:35] HSA distributions and Roth IRA withdrawals do not count toward IRMAA, creating real planning flexibility for retirees who hold these assets. [00:19:36 - 00:23:46] Properly structured whole life insurance policy loans fall outside the IRMAA calculation, giving retirees an income source they can draw from without triggering the surcharge.

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.

June is Men's Health Month, but today is Mostly Medicare (and maybe Morgan Freeman). Doctor Mark and Larry talk about bucket lists and what's beyond! Where are the behavioral trends heading? Why is there so much anxiety? And just in case you don't have enough anxiety, we'll get in-depth about how Medicare premiums work with lots of gruesome details from Social Security! It's another informative and entertaining look at the world behind health care now! And watch your pockets, IRMAA's back in town!See omnystudio.com/listener for privacy information.

June is Men's Health Month, but today is Mostly Medicare (and maybe Morgan Freeman). Doctor Mark and Larry talk about bucket lists and what's beyond! Where are the behavioral trends heading? Why is there so much anxiety? And just in case you don't have enough anxiety, we'll get in-depth about how Medicare premiums work with lots of gruesome details from Social Security! It's another informative and entertaining look at the world behind health care now! And watch your pockets, IRMAA's back in town!See omnystudio.com/listener for privacy information.

Retirement confidence is at its lowest level since 2017, and the twist is that many people are doing “fine” on paper. So why are folks hesitant to stop working? I walk through what I see after helping hundreds of retirees: Confidence is not built by a bigger portfolio. It is built by a clear plan you can follow when inflation spikes, the market drops, or health care costs surprise you.We start with the data behind the 2026 Retirement Confidence Survey and the real drivers of anxiety: Inflation, rising medical costs, Social Security and Medicare uncertainty, market volatility, and the fear of outliving your money. Then I break down the five building blocks of retirement confidence: Reliable income, cash reserves (including the five-year “war chest” to manage sequence of returns risk), a retirement tax strategy that considers RMDs, Social Security taxation, and IRMAA, thoughtful health care and long-term care planning, and most importantly a written retirement plan that ties it all together.

Apply for a Retirement Consultation:https://perspectivefunnel.co/682642d22275ec003bfa6626/691df07396253e003c42b434/?ps_hello=%20Get the Digital Federal Retirement Guidebook:https://cdfinancial.org/being-a-federal-employee-in-the-era-of-trump-book/Take the Checklist Challenge:https://cdfinancial.org/checklist-challenge/Subscribe for Weekly Federal Retirement Planning Content:https://cdfinancial.com/newsletterYou're 60, you have a federal pension and $1M saved — so why doesn't it feel like enough? The answer is 5 unmade decisions, not more dollars.If you are within a year or two of leaving federal service with a FERS pension and a healthy TSP balance, this is the time to stop asking "Am I okay?" and start asking "Have I decided?" In this video, Charles and Marcus break down the 5 Decisions Framework federal employees should work through before finalizing retirement: income order, taxes and RMDs, healthcare, investments, and purpose.Whether you are trying to decide when to file for Social Security, how to manage the tax window before RMDs begin at 73, or how FEHB and Medicare Part B fit together, this episode walks through the planning areas many federal employees overlook — including the two decisions that have nothing to do with a spreadsheet.━━━━━━━━━━━━━━━FEDERAL RETIREMENT RESOURCES━━━━━━━━━━━━━━━OPM Retirement Center:https://www.opm.gov/retirement-center/Social Security Delayed Retirement Credits:https://www.ssa.gov/benefits/retirement/planner/delayret.html━━━━━━━━━━━━━━━TIMESTAMPS━━━━━━━━━━━━━━━0:00 Age 60 With a Federal Pension and $1M — Am I Okay?2:00 Why "Am I Okay?" Is the Wrong Question3:00 Decision 1: Income Order — Pension, Social Security, or TSP First?5:30 Decision 2: Taxes & RMDs — The Age 73 Cliff and Your Tax Window7:30 Decision 3: Healthcare — FEHB + Medicare Part B9:30 The Two Decisions That Aren't About Money10:00 Decision 4: Investments — From Accumulation to Distribution12:00 Decision 5: Purpose — The Tuesday at 10 AM Test14:00 What to Do This Month If Retirement Is Approaching16:30 "Have I Decided?" — The Real Question18:30 How to Get Answers for Your Specific Situation━━━━━━━━━━━━━━━WHO WE ARE━━━━━━━━━━━━━━━CD Financial helps federal employees and retirees make smarter retirement decisions around FERS, TSP, FEHB, Medicare, survivor benefits, retirement income planning, and health-focused financial strategies.Our mission is simple:Help federal employees retire with more clarity, confidence, and peace of mind.Subscribe for practical federal retirement planning content designed to help you better understand your benefits, avoid common planning gaps, and prepare for your next chapter with confidence.━━━━━━━━━━━━━━━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.This video is for educational purposes only and should not be considered financial, legal, tax, healthcare, or investment advice. Federal retirement decisions depend on your individual service history, agency records, health coverage, survivor needs, retirement income goals, and personal circumstances. Always consult qualified professionals and review official OPM guidance before making retirement elections.Opinions expressed herein are solely those of CD Financial and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy or completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation.retire at 60 federal employee, federal pension and TSP retirement, FERS retirement at 60, can I retire with 1 million and a pension, TSP withdrawal strategy, when to take Social Security federal employee, RMD age 73, Roth conversion before RMDs, FEHB and Medicare Part B, IRMAA surcharge, sequence of returns risk, retirement income order, federal retirement planning#federalretirement #FERS #retirement #TSP #federalemployees #retirementsavings #governmentemployee #RetireAt60 #FederalPension #CDFinancialSupport the show

Losing a spouse is one of life's most difficult experiences, emotionally and financially. Many retirees are surprised to learn that widowhood can also create significant tax and retirement-planning challenges that may affect income, Medicare premiums, estate plans, and long-term financial security.  In this episode, Larry Heller, CFP®, CDFA®, explains why the loss of a spouse can create unexpected financial challenges for retirees, including higher taxes, rising Medicare premiums, and changes to retirement income. He discusses how required minimum distributions, Social Security survivor benefits, and IRMAA thresholds can affect a surviving spouse's long-term financial picture. Larry also shares proactive planning strategies couples can consider before widowhood, including Roth conversions, tax-bracket management, beneficiary reviews, and estate planning updates. Through real-life examples, he highlights how thoughtful preparation can help surviving spouses avoid costly mistakes and navigate a difficult transition with greater confidence and clarity. What to expect: Why surviving spouses often face higher taxes after the loss of a spouse How the widow and widower tax penalty impacts retirement income The effect of IRMAA and rising Medicare premiums for single filers How required minimum distributions can create larger future tax burdens And more! Connect with Larry Heller:  (631) 248-3600 Schedule a 20-Minute Call Heller Wealth Management LinkedIn: Larry Heller, CFP®, CDFA®, CPA YouTube: Retirement Unlocked with Larry Heller, CFP® Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice. Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant's current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/

Turning 65 opens a new season of life—and with it comes some of the most important financial and healthcare decisions you'll ever make. In this episode of Finishing Well, Certified Financial Planner Hans Scheil and co-host Robbie Dilmore continue their Financial Plan Series by exploring Medicare, IRMAA (Income-Related Monthly Adjustment Amount), and how these choices fit into a comprehensive retirement strategy. Hans walks through the key Medicare decisions every retiree faces, including the differences between Original Medicare and Medicare Advantage plans, the importance of Medicare Supplement coverage, and why your initial enrollment period can create opportunities that may never come again. Using the real-life financial planning case of Tom and Susan, listeners will learn how Medicare decisions affect healthcare costs, retirement income planning, tax strategies, and long-term financial security. The discussion also covers Medicare Part D prescription drug plans, common enrollment mistakes, and strategies for managing or potentially reducing costly IRMAA surcharges. Through personal experiences and practical examples, Hans and Robbie highlight how choosing the right Medicare coverage can protect both your health and your retirement savings. Whether you're approaching age 65, already enrolled in Medicare, or helping a loved one navigate retirement healthcare decisions, this episode provides valuable insights to help you make informed choices and avoid costly mistakes. Topics Covered: Original Medicare vs. Medicare Advantage Medicare Supplement (Plan G) coverage Open enrollment opportunities and deadlines Medicare Part D prescription drug plans Understanding IRMAA and Medicare premiums Healthcare planning as part of a complete retirement strategy Real-world retirement planning case study Learn how thoughtful Medicare planning can help you finish well in retirement.

Last week, we covered why Roth conversions can beso powerful in retirement planning.This week, we're talking about what can go wrong.In this episode, I walk through 12 real-world hurdles and“landmines” that can shrink — or completely eliminate — your Roth conversion window. These are the exact issues I see with retirees and pre-retirees whohave built substantial wealth in traditional IRAs, 401(k)s, and other tax-deferred accounts.We cover:Social Security timing Pension income Spousal employment Selling a business Deferred compensation plans IRMAA surcharges ACA premium tax credits Inherited IRAs and the 10-yearrule Tax-inefficient investments The new senior bonus deduction And more.If you're planning for retirement and want to minimizelifetime taxes while maximizing flexibility, this episode will help you avoid some very costly mistakes.I hope you find it helpful.-Kevin⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⛳ PFR Nation (Who This Is For)If you're over 50, have saved seven figures (or multipleseven figures), love golf and travel, and you want to make work optional whileminimizing taxes… welcome to the right place.***This is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

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.

Apply for a Retirement Consultation:https://perspectivefunnel.co/682642d22275ec003bfa6626/691df07396253e003c42b434/?ps_hello=%20Get the Digital Federal Retirement Guidebook:https://cdfinancial.org/being-a-federal-employee-in-the-era-of-trump-book/Take the Checklist Challenge:https://cdfinancial.org/checklist-challenge/Subscribe for Weekly Federal Retirement Planning Content:https://cdfinancial.com/newsletterComment Below:Which FERS Mistake Could Cost You the Most Later?If you are a federal employee getting close to retirement, these FERS retirement mistakes can affect your pension, survivor benefits, FEHB coverage, TSP withdrawals, Medicare costs, and long-term retirement income. In this video, we break down seven of the biggest federal retirement planning mistakes we see employees make before leaving federal service.Why FERS survivor benefit elections can affect both pension income and FEHB coverageHow the wrong federal retirement date may impact annual leave, taxes, and retirement timingWhy FERS COLA rules can create long-term inflation pressure in retirementHow pension income, Social Security, TSP withdrawals, and military pension income can stack for taxesWhat IRMAA is and why Medicare costs may rise after certain income eventsWhy coworker advice may not fit your federal retirement situationHow to think through irreversible retirement decisions before signing final election formsWhy federal retirement planning should be based on your full financial picture, not one isolated benefit━━━━━━━━━━━━━━━FEDERAL RETIREMENT RESOURCES━━━━━━━━━━━━━━━OPM Retirement Center:https://www.opm.gov/retirement-center/OPM Survivor Benefits:https://www.opm.gov/retirement-center/survivor-benefits/OPM Cost-of-Living Adjustment Information:https://www.opm.gov/frequently-asked-questions/retire-faq/post-retirement/how-is-the-cost-of-living-adjustment-cola-determined/SSA IRMAA Information:https://secure.ssa.gov/poms.nsf/lnx/0601101020Medicare 2026 Premiums and Deductibles:https://www.cms.gov/newsroom/fact-sheets/2026-medicare-parts-b-premiums-deductibles━━━━━━━━━━━━━━━TIMESTAMPS━━━━━━━━━━━━━━━0:00 The 7 Biggest FERS Mistakes Federal Employees Make1:09 Why Pension Mistakes Stay Invisible Until Later2:13 Mistake 1: Survivor Benefit and FEHB Coordination5:22 Mistake 2: Retiring on the Wrong Date8:24 Mistake 3: FERS COLA and Inflation Drag11:51 Mistake 4: Tax Stacking in Federal Retirement14:35 Mistake 5: IRMAA and Medicare Cost Surprises20:19 Mistake 6: Believing Retirement Myths Instead of Planning23:21 Why Coworker Advice Can Lead to the Wrong Retirement Decision24:17 What May Still Be Fixable After Retirement24:40 Health Tip: Decision Fatigue and Retirement Forms26:02 Next Step for Federal Employees Near Retirement━━━━━━━━━━━━━━━WHO WE ARE━━━━━━━━━━━━━━━CD Financial helps federal employees and retirees make smarter retirement decisions around FERS, TSP, FEHB, Medicare, survivor benefits, retirement income planning, and health-focused financial strategies.Our mission is simple:Help federal employees retire with more clarity, confidence, and peace of mind.Subscribe for practical federal retirement planning content designed to help you better understand your benefits, avoid common planning gaps, and prepare for your next chapter with confidence.IMPORTANT DISCLAIMERAdvisory 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.This video is for educational purposes only and should not be considered financial, legal, tax, healthcare, or investment advice. Federal retirement decisions depend on your individual service history, agency records, health coverage, survivor needs, retirement income goals, and personal circumstances. Always consult qualified professionals and review official OPM guidance before making retirement elections.Opinions expressed herein are solely those of CD Financial and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy or completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation.FERS retirement mistakes, federal retirement planning, FERS survivor benefits, FEHB in retirement, federal employee retirement date, FERS COLA, TSP withdrawals in retirement, IRMAA Medicare, federal pension planning, OPM retirement, federal employee benefits, retirement income planning, federal employees nearing retirement, survivor annuity, federal retirement taxes, CD Financial#FERSRetirement #FederalRetirement #FederalEmployees #RetirementPlanning #CDFinancialSupport the show

If you're approaching retirement with a large 401(k) or IRA balance, this episode could save you and your beneficiaries hundreds of thousands in future taxes.In this episode I'll break down 7 strategic reasons to consider Roth conversions and explain when Roth conversions actually make sense for retirees and pre-retirees.Too many financial “gurus” push Roth conversions as a one-size-fits-all strategy. In reality, timing matters. Tax brackets matter. Medicare premiums matter. Legacy planning matters.You'll learn:✔️ How Roth conversions can reduce future RMDs (Required Minimum Distributions)✔️ Why retirees get trapped by large IRA balances later in life✔️ The hidden “widow penalty” surviving spouses face✔️ How Roth IRAs can create tax-free retirement income flexibility✔️ Why the SECURE Act changed inherited IRA planning forever✔️ How Roth conversions may protect your children from massive tax bills✔️ The best Roth conversion window for retirees ages 55–75✔️ When NOT to do Roth conversions✔️ How market downturns can create Roth conversion opportunities✔️ The impact Roth conversions can have on IRMAA, Social Security taxation, ACA subsidies, and Medicare premiumsWhether you have $1M, $3M, or more saved for retirement, understanding Roth conversion planning could dramatically improve your retirement income strategy and long-term tax efficiency.

Retirement planning extends well beyond simply saving enough during your working years—it plays out with every decision you make once you stop working. One crucial, sometimes overlooked, aspect is managing Required Minimum Distributions (RMDs) from your retirement accounts. If you have a retirement account approaching your RMD age, this episode breaks down the essential rules based on your birth year, how to calculate your distribution using the IRS tables, and key tax implications to keep in mind. You'll also get actionable tips to help minimize your future RMDs, from optimizing your income plan and leveraging Roth conversions to using qualified charitable distributions.    You will want to hear this episode if you are interested in... [00:00] RMD rules and calculations [05:10] RMDs and distribution timing [09:03] Retirement accounts and RMD rules [14:22] Tax strategies for retirement planning [17:00] Common RMD mistakes and solutions [19:21] Proper charitable distribution process   What Are Required Minimum Distributions (RMDs)? RMDs are the minimum amounts you must withdraw annually from certain retirement accounts starting at a specific age, as mandated by the IRS. These distributions apply to traditional IRAs, rollover IRAs, SIMPLE IRAs, SEP IRAs, 401(k)s, 403(b)s, 457 plans, and profit-sharing plans. Importantly, Roth IRAs and Roth 401(k)s are exempt from RMDs, and regular taxable investment accounts are not impacted.   The required age for beginning RMDs now depends on your birth year: If you were born between January 1, 1951, and December 31, 1959, RMDs start at age 73. If born on January 1, 1960, or later, RMDs begin at age 75. Tax Implications of RMDs RMDs are taxed as ordinary income. If you're not careful, withdrawals can bump you into a higher tax bracket, increase how much of your Social Security is taxable, or trigger additional Medicare Part B and Part D premiums due to IRMAA. Failing to withdraw the required amount carries a steep penalty—25%, reduced to 10% if corrected within two years.   Strategies to Lower Your RMDs Don't put all your savings in pre-tax accounts. Split between traditional and Roth accounts or invest some in taxable brokerage accounts, which aren't subject to RMDs. It can be useful to collaborate with a financial advisor to create a withdrawal strategy that minimizes taxes by pulling funds strategically from different account types. You can also convert portions of your pre-tax accounts to Roth IRAs in years when your income (and tax bracket) is lower, helping "fill the bucket" at the lowest rates. If you retire early, delaying Social Security until age 70 increases your benefit and can create years of low taxable income—perfect for executing Roth conversions. If you're 70½ or older, you can also donate up to $100,000 per year directly from your IRA to a qualified charity. These gifts count toward your RMD but are excluded from taxable income.   Enjoying a Comfortable Retirement Navigating RMDs isn't just about following IRS rules—it's an ongoing strategy to keep your taxes low and your retirement income steady. By understanding your obligations and using the available tools, you can maximize your retirement savings and create a more secure future. Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Download my entire book for FREE    Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan  

Jim and Chris discuss listener emails on Social Security spousal benefits, portfolio withdrawal strategy for early retirement, HSA and Medicare premiums, the 4% rule, Roth self-employed 401(k)s, Roth conversions, and retirement trusts. (10:45) A listener asks whether her husband claiming Social Security on his own record before she files at 70, including as early as 62, would reduce his eventual spousal benefit, and in what circumstances an earlier filing might make sense for them. (20:45) She also asks how to structure her portfolio to cover a seven-year income gap before Social Security begins and fund a potential home purchase at retirement. (46:15) George and Georgette want to know which Medicare-related costs – IRMAA surcharges, Part D, and supplemental insurance – qualify for HSA reimbursement, and whether they can apply HSA funds retroactively to prior-year premiums. (54:30) The guys address the idea that money reimbursed from an HSA isn’t restricted to medical use, so saving receipts over the years can turn an HSA into a source of tax-free cash for virtually any expense. (1:01:15) A listener compares the 4% rule to Newton’s laws of motion – foundational but not the final word – and describing how he’s combining that framework with their retirement income approach for his own long-range planning. (1:08:30) Jim and Chris share a listener’s PSA that Fidelity began offering a Roth self-employed 401(k) in 2025, in response to a question from a recent episode. (1:11:30) One listener pushes back on the idea that Roth conversions only make sense at a lower tax bracket, walking through a math example to show that tax-free compounding can make converting at the same — or even a higher — bracket financially worthwhile. (1:17:45) George has structured his IRA with a testamentary trust for a financially irresponsible adult child and asks whether a “retirement trust”, could allow the trust to receive IRA assets without the compressed tax rates that typically apply to trusts. The post Social Security, Withdrawal Strategy, HSAs, 4% Rule, Roths, Retirement Trust: Q&A #2621 appeared first on The Retirement and IRA Show.

Two retirees with the same balance can take wildly different incomes home — it's not about returns, it's about taxes.This week on Money On Tap, Ben Brayshaw and Dan Michelon unpack The Science of Retirement Income — How to Create Income Alpha: the practice of beating the market not by picking better stocks, but by keeping more of what you already have through tax-aware planning.What you'll learn:What "Income Alpha" actually means — and why it's worth 15–30% more retirement income, year after yearHow Social Security gets taxed at 0%, 50%, or 85% — and how to control which one applies to youThe Roth IRA conversion ladder: filling the 22% bracket today to avoid the 30%+ bracket laterThe lesser-known after-tax account strategy — converting future ordinary-income tax into capital-gains taxQualified Charitable Distributions (QCDs) — the single highest-leverage move for charitable retireesDonor-Advised Funds and Charitable Trusts — stacking giving with Roth conversion yearsThe hidden IRMAA Medicare tax — and the income thresholds that can cost you $1,000–$3,000 a yearThe Widow Tax Trap — the most damaging tax in retirement and how to plan around itWhy the year of a spouse's passing is the last big planning window — and what to do with itWhat 1–2 years of tax returns will tell a good planner that your investment statement never willPlus Money In The News:Weight-loss drug developers line up to tap a $150B market (Eli Lilly, Novo Nordisk, the pill-vs-shot race)Nike stock tumbles 13% to an 11-year low on China weaknessAverage tax refund up 11% from a year ago — IRS data and what it means for inflationFree resource: Email us with "Charitable Giving Booklet" in the subject and we'll send our charitable giving guide.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.comWhy do Americans fear running out of money more than death? A recent Allianz survey found that 61% of Americans fear running out of money in retirement more than they fear death itself. The shift reflects structural changes: pensions have largely disappeared, 401(k)s placed the risk of retirement success on individuals, life expectancy has stretched, inflation has accelerated, healthcare costs are rising, and Social Security is on track for a benefit cut. The fear is rational — and the planning response is to build a multi-source income plan rather than to hope a portfolio alone is enough.

Free Copy of My Book: Building Wealth In the TSP: Your Road Map To Financial Freedom as A Federal Employee: https://app.hawsfederaladvisors.com/free-tsp-e-book Want to schedule a consultation? Click here: https://app.hawsfederaladvisors.com/whatservicemakessense I am a practicing financial planner, but I'm not your financial planner. Please consult with your own tax, legal and financial advisors for personalized advice.

MEDICARE IRMAA EXPLAINED: HOW INCOME AFFECTS PREMIUMS WATCH ON YOUTUBE Thad Ismart, CFP®, ChFEBC, CEPS Senior Financial Planner, BWFA Tessa Hall Media and Communications Specialist About This Episode Tessa speaks with BWFA's Thad about how income can affect Medicare premiums and what individuals should understand about IRMAA adjustments. They explain why Medicare reviews prior tax returns, how retirement or major income changes can impact premiums, and why some individuals pay more than others. The conversation also covers Medicare premium appeals, capital gains considerations, and planning opportunities that may help reduce healthcare costs in retirement. To better understand how Medicare planning fits into your broader retirement strategy, visit our Financial Planning services page. Read Full Description Many individuals are surprised to learn that income can increase Medicare premiums. In this episode of Healthy, Wealthy & Wise, Tessa speaks with BWFA's Thad about IRMAA, which stands for Income-Related Monthly Adjustment Amount, and how Medicare determines premium costs based on income. The discussion explains why Medicare reviews tax returns from two years prior and how retirement, property sales, or investment gains can affect what you pay. While some premium increases are temporary, others may require additional planning. The episode also highlights Medicare premium appeals. Individuals who retire or experience a significant drop in income may qualify for lower premiums, even if Medicare initially calculates costs using older tax returns. Capital gains planning is another important topic. Selling property or investments can increase Medicare premiums if income rises above certain thresholds. Ultimately, Medicare planning involves more than healthcare coverage alone. Understanding how income impacts premiums can help individuals make more informed retirement and tax planning decisions.

David McKnight unpacks the five most common objections to Roth conversions and why they simply don't hold up under scrutiny.  The first objection has to do with people not wanting to voluntarily pay taxes before the IRS requires them to. While on the surface, postponing this may sound logical, it ignores a fundamental aspect: the state of the U.S. national debt. It has just passed $39 trillion, and it's slated to grow by $2 trillion per year for the next 10 years, and $3 trillion after that. In other words, interest on the national debt is becoming one of the largest line items in the federal budget.  That means that by refusing to pay taxes today, you're making an insanely risky bet that taxes in the future will be lower than they are right now. All, while your IRA keeps growing and compounding over time. Thus, 10 years from now, not only could tax rates be higher, but your required minimum distributions could be dramatically larger. The second most common objection to Roth conversions revolves around people saying, "If I do Roth conversions, that additional income will force me to pay increasingly higher levels of IRMAA or cause my Social Security to be taxed." David points out that Roth conversions do increase your taxable income, which can trigger those additional expenses during the conversion period.  However, while it's true that you'll pay IRMAA and Social Security taxation in the short term, you'll get rid of those additional expenses for the rest of your life once your conversion period is over. Objection #3 is "There's too much opportunity cost, I won't have time to make up for the taxes I paid".  David explains that, despite sounding sophisticated, this objection is based on a flawed premise. Your IRA is a "business partnership" with the IRS – and every year they get to vote on what percentage of your profits they get to keep. So, when you do a Roth conversion, you're not losing money. You're simply buying out your "silent business partner" at today's historically low tax rates. David highlights that, if taxes double in the future, you'll be glad you bought them out while taxes were still on sale. The fourth objection – "In retirement, I'll be in a lower tax bracket" – is actually one of the most dangerous assumptions in all of retirement planning. People assume that when they retire, their taxes automatically go down. For many Americans, the exact opposite happens, though. Once required minimum distributions kick in, they can force huge amounts of taxable income onto your tax returns. David touches upon an additional issue almost nobody talks about: the so-called widow's penalty. The fifth objection to Roth conversions revolves around the question, "Won't the federal government tax Roth IRAs sometime down the road?" People don't realize that the government loves Roth IRAs because they generate tax revenue today – unlike traditional IRAs, which delay tax revenue. That's why, every time Congress needs money, they tend to pass legislation that makes Roth accounts even more attractive. Remember: Roth conversions are about taking advantage of the tax sale of a lifetime before catastrophic levels of debt force tax rates higher.     Mentioned in this episode: David's new book: The Secret Order of Millionaires David's national bestselling book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track Tax-Free Income for Life: A Step-by-Step Plan for a Secure Retirement by David McKnight DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com

Jim and Chris discuss listener emails on the SSA-44 and IRMAA process for a couple approaching Medicare, Social Security survivor benefit strategy, tax diversification for young investors, HSA vs. IRA prioritization and spending strategy during the delay period, and inherited IRA RMD rules for non-eligible beneficiaries. (15:30) A listener approaching Medicare asks how the SSA-44 process applies when one spouse is retiring while the other continues to work, and whether their planned Roth conversions could complicate the IRMAA appeal filing. (33:15) Georgette wonders whether she can start her own Social Security at 67, switch to a lower survivor benefit if her husband passes, and then return to her own larger benefit at 70. (41:00) The guys hear from a parent helping his adult children decide whether to convert their traditional IRAs to Roth IRAs or preserve a mix of account types for tax diversification in retirement. (57:45) Jim and Chris address two questions: (1) whether HSA contributions should be prioritized over IRA contributions for retirement savings, and (2) how to bridge a cash flow gap when brokerage funds run out during the delay period without undermining ongoing Roth conversions. (1:26:15) A listener asks whether a non-eligible beneficiary who inherits a traditional IRA before the decedent’s required beginning date must still take RMDs, given that the decedent had already taken one RMD in the year they turned 73. The post IRMAA, Social Security, Tax Diversification, Delay Period, Inherited IRA: Q&A #2620 appeared first on The Retirement and IRA Show.

Andy and Brad Flood from Tenon Financial share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:Portfolio withdrawal strategies for addressing sequence of returns risk ( 10:44 )Using financial planning software and dealing with its limitations ( 26:25 )Thoughts on Medicare surcharges known as IRMAA, and how much they should be factored into tax planning ( 40:25 )Dealing with legacy investments in client's accounts when clients want to streamline and simplify their holdings, but also want or need to continue to hold some existing positions of theirs ( 46:14 )Balancing optimization and simplicity in financial planning; when is "good enough," enough? ( 58:29 )When in the year to take distributions from Required Minimum Distributions ("RMDs") ( 1:12:19 )A summary of our processes and semiannual meetings at Tenon Financial ( 1:19:02 )Links in this episode:Tenon Financial's website summarizing services and fees - https://tenonfinancial.com/services-and-feesTo send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.comMy company newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com

MEDICARE PLANNING: WHY MEDICARE COSTS MORE THAN MANY PEOPLE EXPECT  Thad Ismart, CFP®, ChFEBC, CEPS Senior Financial Planner Tessa Hall Media and Communications Specialist LAWRENCE M. POST CPA, MST, CFP®, CIMA® Senior Tax and Planning Advisor About This Episode Tessa speaks with BWFA's Larry and Thad about Medicare costs, including premium increases, prescription drug coverage, deductibles, and out-of-pocket expenses. They explain how Medicare pricing changes over time and why many individuals underestimate healthcare costs in retirement. The conversation also covers Medicare Part D plans, IRMAA income adjustments, and why comparing plans each year can help reduce unnecessary expenses. To better understand how healthcare costs fit into your broader retirement strategy, visit our Financial Planning services page. Full Description Healthcare costs play a major role in retirement planning, and Medicare expenses continue to rise each year. In this episode of Healthy, Wealthy & Wise, Tessa speaks with BWFA's Larry and Thad about Medicare costs and what individuals should understand when preparing for healthcare expenses in retirement. They explain how Medicare premiums, deductibles, and prescription drug costs have changed and why many retirees underestimate what they may pay over time. The conversation also explores IRMAA, which stands for Income-Related Monthly Adjustment Amount. Individuals with higher incomes may pay additional Medicare premiums depending on their earnings. Prescription drug coverage is another important topic. The episode highlights why reviewing Part D plans each year matters, since pricing and coverage can vary significantly between providers. The discussion also explains how insurance works from a broader planning perspective. Healthcare coverage involves balancing premiums, deductibles, and financial risk, which means different approaches may make sense depending on individual circumstances. Ultimately, understanding Medicare costs can help individuals make more informed decisions and better prepare for healthcare expenses throughout retirement.

David McKnight dissects a topic that causes a lot of confusion for retirees and pre-retirees: How  Roth conversions affect social security taxation and Medicare premiums (IRMAA). Some warn against Roth conversions in retirement as they can cause your Social Security to become taxable and could also raise your Medicare premiums. While that's true, David believes that the long-term benefits of Roth conversions can far outweigh the temporary, short-term pain they can cause. In order to determine whether your Social Security benefits will be taxed, the IRS tracks the so-called provisional income. If you perform a Roth conversion after you begin collecting Social Security, that additional income can push you above certain thresholds that cause your Social Security benefits to become taxable. Medicare premiums are also influenced by your income through IRMAA (Income-Related Monthly Adjustment Amount), and they look at your income from two years earlier to determine your IRMAA bracket, Remember: A Roth conversion today could trigger higher Medicare premiums two years from now.  David also explains that Roth withdrawals are not included in provisional income. Not only do they not cause your Social Security benefits to become taxable, but they also do not count towards the income thresholds that trigger higher Medicare premiums. As David points out, with the approach discussed in this episode, you're essentially compressing the tax pain into a few years, so you can enjoy decades of tax-free income later on. The national debt continues to spiral out of control to the point where economists are now predicting massive tax increases within the next 10 to 20 years. If such predictions are accurate, the people who will benefit most are those who have already shifted large portions of their retirement savings into tax-free accounts like Roth IRAs. By performing Roth conversions today – while tax rates are historically low – you're effectively locking in today's tax rates and protecting yourself from the possibility of much higher rates down the road. When talking about Roth conversions affecting Social Security taxation and IRMAA, we have to remember that those impacts are temporary, while the tax-free benefits can last for the rest of your life. David touches upon two reasons why it may make sense to delay taking Social Security while you're performing Roth conversions. Increasing the likelihood that your money will last as long as you do should be the #1 goal of every retirement plan.     Mentioned in this episode: David's new book: The Secret Order of Millionaires David's national bestselling book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track Tax-Free Income for Life: A Step-by-Step Plan for a Secure Retirement by David McKnight DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com

Many retirees assume their Medicare premiums will stay consistent once they enroll. But that's not always the case, especially for higher-income individuals. In this episode, Larry Heller, CFP®, CDFA®, breaks down IRMAA, the income-related surcharge that can increase your Medicare Part B and Part D premiums based on income from two years prior. He explains how everyday financial decisions, from IRA withdrawals to capital gains and Roth conversions, can unexpectedly push you into higher premium brackets.  Larry discusses: What IRMAA is and how it impacts Medicare premiums How income from two years prior determines your current costs Common triggers like Roth conversions, property sales, and large withdrawals Strategies to potentially reduce IRMAA through proactive tax and income planning Why coordinating tax, investment, and healthcare decisions is essential in retirement And more! Resources: SSA Form 44 (to report a life-changing event and potentially reduce IRMAA) Medicare IRMAA income brackets and thresholds Connect with Larry Heller:  (631) 248-3600 Schedule a 20-Minute Call Heller Wealth Management LinkedIn: Larry Heller, CFP®, CDFA®, CPA YouTube: Retirement Unlocked with Larry Heller, CFP® Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice. Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant's current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/

You've spent decades saving for retirement, but are you about to make the same mistakes thousands of retirees only spot when it's too late? In this episode, I walk through the five biggest regrets I see in my work as a retirement planner, and exactly what you can do right now to avoid them.Tune into this episode to find out:(01:14) Regret #1 – Claiming Social Security too early costs you(01:44) Early claiming locks in a permanent 30% benefit cut(02:49) How claiming early closes your Roth conversion window(04:12) Regret #2 – Playing it too safe with your investments(06:43) Using the bucket system to balance safety and growth(08:37) Regret #3 – Not spending enough early on(11:06) Regret #4 – Putting off tax planning until it's too late(12:14) How RMDs, Social Security taxes, and IRMAA blindside you(13:46) Regret #5 – Juggling too many accounts and strategies(14:30) Why simplicity leads to clarity and lasting retirement confidence

Jeremiah Bates and Alex Lundgren spent Mother's Day weekend tackling one of the biggest financial issues many families avoid until it's too late: long-term care and the cost of aging. The show opens with Brooke Baker and Jessica Young, Co-Founders of Legacy Navigation, breaking down how Medicaid actually works, what it really covers, and the biggest misconceptions families have around qualifying for benefits. The conversation covers in-home care, assisted living, memory care costs, spousal asset protection strategies, the five-year lookback rule, and why certain estate planning decisions can accidentally create Medicaid problems later on. Going into the second hour, Jeremiah and Alex pivot into another major planning blind spot: letting taxes dictate investment decisions. They discuss concentrated stock positions, large unrealized gains, rental property sales, 1031 exchanges, Medicare IRMAA surcharges, and why many investors hold onto assets longer than they should simply because they fear the tax consequences. Throughout the show, the bigger theme remains the same: most financial problems become significantly harder when planning is delayed. Whether it's long-term care, estate coordination, taxes, or investment decisions, this show focuses on why proactive planning matters before life forces the issue.   Listen, Watch, Subscribe, Ask! https://www.therealmoneypros.com Hosts: Jeremiah Bates & Alex Lundgren Guests:Brooke Baker, RN & Jessica Young, MSW Co-Founders of Legacy Navigation https://legacynavigate.com ————————————————————— Ataraxis PEO https://ataraxispeo.com Tree City Advisors of Apollon: https://www.treecityadvisors.com Apollon Wealth Management: https://apollonwealthmanagement.com/ —————————————————————

Jim and Chris discuss listener emails on IRMAA appeals, Social Security survivor benefits, a Venn Diagram PSA, Roth IRA spousal rollover and the five-year rule, and Rollover IRA protections. (8:15) A listener asks whether their parents should appeal an IRMAA surcharge—triggered by a one-time annuity payout—on the basis of loss of pension income. (17:15) George asks how a serious health diagnosis may affect his Social Security strategy, including whether his wife should claim on her own record now and delay survivor benefits until he would have reached age 70. (35:30) A listener shares a Venn Diagram PSA 38:15) The guys hear from someone who used spousal rights to roll his late wife’s Roth 401k into his own Roth IRA, and wants to know whether doing so reset the five-year clock on her previously qualified funds. (54:00) Jim and Chris address whether the ERISA protections of 401k and 403b plans are reason enough to avoid rolling them into IRAs, and whether an umbrella insurance could offer additional Rollover IRA protections. The post IRMAA, Social Security, Roth 5-Year Rule, Rollover IRA Protections: Q&A #2619 appeared first on The Retirement and IRA Show.

On this episode: Headlines scream disaster—are you letting clickbait steer your retirement plan and risk tolerance? One Medicare premium bump can distract from the bigger IRA tax math—especially for spouses and heirs. A neat rule of thirds sounds simple—until your goals, emotions, and income needs refuse to fit the buckets. DIY investing feels great in your 60s—what happens when paperwork, health, and life events collide in your 70s? Subscribe or follow so you never miss an episode! Check out Fire Your Financial Advisor on YouTube! Learn more at GoldenReserve.com or follow on social: Facebook & LinkedIn.See omnystudio.com/listener for privacy information.

If you've spent a lifetime saving and now have a seven-figure IRA, you might think you've won the game. But if that money has never been taxed, you aren't just compounding wealth, you're compounding a future tax problem. In today's conversation, we're breaking down exactly how a "good" problem becomes a massive tax bill if you don't act before the government forces your hand, and why strategic Roth conversions could be the most important move you make for your retirement and your legacy.. ⸻ ⏱️ Episode Highlights [00:30] – The $5 million "good problem" that can quietly turn into a tax trap.  [01:25] – The Math: How a 6% growth rate creates a $16 million tax bomb over 20 years/ [02:10] – Forced taxation: Understanding RMDs and the cost of letting the government decide when you pay.  [04:15] – The Retirement Sweet Spot: Why ages 63 to 73 are your golden window for bracket management.  [05:30] – Why Roth-converted assets are a game-changer for your legacy and IRMAA calculations.  [06:15] – The malpractice standard: Why your advisor must be reviewing your tax returns every year. ⸻ Links & Resources Mentioned • Email: connect@meritfa.com  • Website: meritfinancialadvisors.com ⸻ Closing Thoughts If this episode challenged the way you see your tax picture, share it with a friend who might be sitting on a tax bomb of their own. Reach out at connect@meritfa.com, we'd love to help you take action before the government does. Stay coachable! Investment advice offered through Merit Financial Group, LLC., an SEC-registered investment adviser.  

In this episode we answer emails from Kyle, Tim, and Tim.  We discuss dealing with a recalcitrant parent who won't talk about the straw in their milkshake,  outline flexible retirement withdrawal planning with asset swaps, and explain how to escape TSP limitations.And THEN we our go through our weekly and monthly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Additional Links:Fairfax CASA Donation Page:  Donate - Fairfax CASAFinancial Personality Traits Research Presentation:  Big Five Unified Financial Profiles Presentation.pdf - Google DriveTax Book:  Amazon.com: Tax Planning To and Through Early Retirement: 9798999841599: Garrett, Cody, Mullaney, Sean: BooksAdmiral Ackbar's Tax Book Summary:  Admiral Ackbar's Guide to Tax Planning in Retirement Slides.pdf - Google DriveKitces Article:  Tax-Efficient Retirement Portfolio Spending StrategiesAsset Swap Video from Risk Parity Chronicles:  How to Do an Asset SwapOptimus Bill on Bigger Pockets Money:  The Decumulation Strategy After Hitting Financial Independence | Bill YountOptimus Bill on the Morningstar Long View Podcast:  The Long View: Bill Yount: How Late Starters Can Find Financial IndependenceBreathless AI-Bot Summary:Someone you love is doing “fine” on paper, yet you can't shake the feeling they're getting quietly drained by bad financial products or high advisory fees. That tension is where we start: the hard part often isn't investment math, it's the relationship dynamics that make a parent shut down the moment money comes up.We read an email from a listener trying to help his retired mom who prefers to delegate and doesn't want to learn finance. We talk through why children often can't be “a prophet in their own land,” how to lower the temperature, and why it can be smarter to focus on replacing a poor-fit advisor instead of trying to force a DIY investing conversion. If your goal is preserving peace while improving outcomes, this is a realistic playbook.Next we get into retirement withdrawal strategy and tax planning. The usual media advice about which account to tap first falls apart once you factor in lifetime tax minimization, Roth conversion windows, Social Security timing, ACA subsidy cliffs, and IRMAA. We also explain the idea of an asset swap so you can reduce an inflated holding (like gold in a Roth IRA) while keeping your overall asset allocation and diversification intact.Finally, we answer a newly retired federal employee wrestling with Thrift Savings Plan limits, the case for a TSP rollover to an IRA, how to think about 72T SEPP planning account-by-account, and how to rebalance when not every asset is available in every account. We close with our weekly risk parity style portfolio review and the May distribution rundown across the sample portfolios.Subscribe, share the show with a DIY investor friend, and leave a review on your podcast app so more people can find it. What's the toughest money conversation you've had with family?Support the show

Jim and Chris discuss emails on Social Security survivor benefit strategies, IRMAA exceptions, Roth conversion timing during market downturns, and the implications of naming IRA beneficiaries directly versus routing assets through a trust. (8:15) A listener whose husband plans to delay Social Security to 70 while she claims early at 62 asks whether she can still receive the maximum survivor benefit if he passes away before reaching 70. (19:30) The guys field a question about whether the SSA-44 reduced work exception to IRMAA applies when the reduction in earned income is far too small to bring MAGI below the applicable tier. (31:00) Jim and Chris address whether it makes sense to front-load Roth conversions during a market downturn so that subsequent recovery gains are captured tax-free. (1:06:00) George wants to better understand the mechanics a trustee must navigate when distributing IRA assets to trust beneficiaries, compared to simply naming beneficiaries directly on the account. The post Social Security, IRMAA, Roth Conversions, IRA Beneficiaries: Q&A #2618 appeared first on The Retirement and IRA Show.

IRMAA planning is an important part of retirement planning because even a small increase in income can trigger significantly higher Medicare premiums. In this episode of Wise Money, we explain how IRMAA works, why Medicare surcharges catch so many retirees by surprise, and the strategies that may help you reduce or avoid those extra costs. From Roth conversions and retirement withdrawals to property sales and taxable income management, we cover the key financial decisions that can impact your future Medicare premiums. If you want to avoid costly Medicare surprises in retirement, this episode is packed with practical planning insights.  Season 11, Episode 37 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.   Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow Listen on podcast: https://pod.link/1040619718   Watch this episode on YouTube: https://youtu.be/Uq3u2RzsREU    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. 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.

Business owners, entrepreneurs, and any 1099 income earners: this episode is for you. This woman with the Spendthrift Trust can save you a fortune. The ST Trust also cancels the IRMAA surcharge on Medicare. Listen to Sally Gimon with Mark and how this all works. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

"It's all about these different pieces and how they can fit together. And it's not just how they fit together in good ways, but also how they fit together in bad ways."   Our hosts, Stephanie McCullough and Kevin Gaines, sit down to unpack a letter from a reader of The Retirement Strategy Report who signed off as "Get What's Mine Before It's Gone", ready to claim at 62 just to lock in something before the trust fund runs dry. That reader is right to be anxious. The Social Security OASI Trust Fund is now projected to deplete by 2033, at which point ongoing tax revenues would cover only about 77% of promised retirement benefits. That's an automatic across-the-board cut of roughly 23%! Add frozen income thresholds from 1983 (with an 85% taxation tier added in 1993) that quietly pull more retirees into taxation every year, plus Medicare's IRMAA surcharges that jump off income cliffs, and you've got a retirement income picture that's genuinely complex. But claiming early doesn't solve any of it. A 23% cut hits whether your monthly benefit is $1,400 or $2,200. The math still favors patience, as 77% of a larger number is always better than 77% of a smaller one. What does help is projecting your taxable income now and managing it deliberately. Kevin's core suggestion is to avoid leaving all your money in traditional, pre-tax retirement accounts and wait for RMDs to force a reckoning. Use lower-income years (early retirement, career transitions, entrepreneurship) to draw down those accounts at the 12% bracket instead of the 22% or 24% you might face later. Convert some to Roth. Build out taxable investment accounts alongside tax-deferred and tax-free buckets, so you have flexibility every year. The goal isn't to predict what Congress will do. It's to build a retirement with enough moving parts that whatever happens, you have room to adjust.   Key Topics: How Social Security Fits Into Our Retirement (02:15) Should You Claim Early to "Get Yours"? (06:30) How Social Security Benefits Get Taxed (10:22) IRMAA and Medicare: The Hidden Hit on Your Net Check (17:19) Roth Conversions and the Case for Acting in Low-Income Years (19:39) Tax Diversification: Balancing Your Buckets (29:02)   Resources: Take Back Retirement Episode 82: Getting the Most from Social Security: Smart Strategies for Women with Heather Schreiber: https://takebackretirement.com/podcasts/getting-the-most-from-social-security-smart-strategies-for-women-with-heather-schreiber/   If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com   You can find the transcript and more information about this episode at www.takebackretirement.com.   Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.  Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.

More regulators are concerned about private credit  The bad news just keeps coming for the private credit industry. If you're not sure what private credit is, it is mostly middle market business loans extended by asset managers. People often don't realize that these asset managers don't have the same strict supervision that banks have on their loans. Investors may be starting to realize the risk because in the first quarter of 2026, private credit investors requested $20 billion from some of the private credit funds. Unfortunately, they only got a little bit over 50% of what they requested or about $11 billion. This could lead to higher redemption requests above $20 billion in the second quarter as more investors become disenchanted with private loan funds. The Securities Exchange Commission over the past few months has opened several enforcement investigations of large private credit managers. The Treasury department is also requesting information from private fund managers and insurance firms to understand their businesses more. The Securities Exchange Commission is the primary regulator for the private credit industry, but the private funds don't regularly disclose holdings and don't reveal much about private credit on the forms that are used by the SEC. It is quite the dilemma for these private credit funds, and I do believe it will continue to get worse because I am confident that the SEC and the Treasury department will find areas that could really hurt the individual investor due to the lack of disclosures.    Could prediction markets be available in your IRA soon?   Bitwise, Roundhill, and GraniteShares have filed applications with the SEC to launch exchange-traded funds tied to event contracts. If approved, these products could potentially be held in self-directed IRAs. The initial proposals appear relatively narrow in scope, focusing on outcomes like which party wins the White House in 2028 and which party controls the House and Senate after this year's midterm elections. While these types of products can sound appealing—and successful bets could generate strong returns—they also carry a clear risk: if you're wrong, you lose your entire investment.  One of the main concerns is how complex and speculative these instruments are, especially in the context of retirement accounts. Event contracts are fundamentally different from traditional investments like stocks or bonds, and their all-or-nothing nature makes them more like betting rather than than long-term investing. Are we going to soon allow withdrawals from retirement assets in Vegas so people can blay blackjack? The odds may be better there than on some of these “event contracts.”  There are also broader legal and regulatory questions still being debated. Some states argue that certain event contracts—particularly those tied to sports outcomes—should be classified as sports gambling, which would place them under state jurisdiction rather than the Commodity Futures Trading Commission. Tribal groups have also raised concerns, arguing that such products could infringe on their sovereign rights to regulate gambling on tribal lands.  At the moment, sports-related event contract ETFs are not part of these filings, but that could evolve depending on how the legal landscape develops. If courts ultimately allow these types of products and current applications move forward, it's possible that similar filings tied to sports outcomes could follow.  Regardless of how regulation unfolds, it's important to understand the nature of these products. While they may be packaged as ETFs, their structure and risk profile differ significantly from traditional investments. Anyone considering them should be clear on one point: this is not investing in the conventional sense—it's a high-risk, all-or-nothing proposition that is really just gambling.    Who offers a better reward program? The big gas stations or Costco?  When I pull into a Shell gas station, I always see a pitch on the screen about getting up to $0.30 back per gallon. Other stations like Chevron run similar promos, which got me wondering: how many people actually sign up—and are these deals better than Costco's credit card with 4% cashback on gas?  Right off the bat, gas station rewards programs feel overly complicated. Once you dig in, you'll find caps, conditions, and purchase limits that make it tough to consistently get the maximum benefit. In the best-case scenario, you might get around $0.35 off per gallon. If gas is $6 per gallon, that works out to roughly a 5.8% discount. Not bad—but actually hitting that number regularly is another story.  Costco's credit card, on the other hand, offers a straightforward 5% cashback at Costco gas stations and 4% cashback at other gas stations (up to $7,000 per year). At $6 per gallon, that's about $0.24 back per gallon; at $5 per gallon, it's $0.20. To hit the annual cap, you'd need to buy around 22.4 gallons per week at $6 per gallon, or about 26.9 gallons per week at $5.  If you're filling up at a Costco station, the math can tilt even more in your favor. Gas there is often $0.10–$0.30 cheaper per gallon to begin with. Pair that with 5% cashback, and your effective savings climb even further: about $0.25 per gallon at $5 gas, or $0.30 at $6.  So, when you're standing at the pump at Shell or Chevron and see an offer for a flashy rewards program, it's worth pausing. The headline numbers can look appealing, but the real-world value often depends on how much you drive and how closely you follow the program's rules. For many people, a simple, consistent cashback card—especially one tied to already lower fuel prices—may end up being the better, less stressful option.    Is there a bubble in sports teams?  We've spent plenty of time talking about stretched valuations in stocks, the frenzy in crypto, and the rise of prediction markets—but sports teams may deserve a spot in that conversation too. Valuations across major leagues are climbing at a remarkable pace.  The NFL is leading the charge, with the average team now valued at $7.65 billion, up from roughly $1 billion in 2010. NBA franchises tell a similar story: the average team is worth $5.52 billion, an 18% jump from just last year. Go back 15 years, and the average NBA team was valued around $369 million—an increase of 1,396%. By comparison, the S&P 500's roughly 425% return over that same period looks modest.  Major League Baseball is seeing it too, with the San Diego Padres reportedly finalizing a record sale at $3.9 billion. As prices climb, fewer buyers can afford entry into the top leagues, pushing capital into smaller or emerging sports that may carry more risk.  Rick Horrow, CEO of Horrow Sports Ventures, highlighted this trend: “Major League Cricket was at $5 million. Now the value's at $30 million and going higher. Major League Pickleball two years ago was at $5 million. Now the value is at $15 million or higher.”   Women's sports are also experiencing rapid growth. The National Women's Soccer League recently awarded an expansion franchise in Columbus, Ohio for $205 million—a $40 million increase over the fee paid by Arthur Blank (The Falcon's owner) for Atlanta's team in November. That deal itself was a sharp jump from the $110 million paid by Denver in January of last year. For perspective, expansion fees were around $2 million as recently as 2022.  The key question is whether these valuations are supported by underlying fundamentals. While interest is rising—about 1.2 million people watched the NWSL final, up 22% year over year—it still trails far behind the audiences of major leagues. Game 7 of the NBA Finals drew 16.4 million viewers, the World Series drew 25.9 million, and the Super Bowl surpassed 127 million.  Media rights are central to this dynamic. The NFL signed an 11-year, $111 billion deal in 2021 and is already eyeing further increases. The NBA followed with its own 11-year, $77 billion agreement starting in 2025. If these massive contracts continue to absorb the bulk of media spending, smaller leagues may struggle to sustain their current growth trajectories.  Most people will never be in a position to buy a sports franchise, but the broader trend is still worth watching and I believe is just yet another example of excessive valuations in today's markets.     Financial Planning: Understanding the Relative Cost of IRMAA  IRMAA (Income-Related Monthly Adjustment Amount) is best understood not as a flat cost, but as an additional marginal tax rate layered on top of federal and state income taxes. When your income exceeds certain thresholds, your Medicare Part B and Part D premiums increase, and because the adjustment applies for the entire year once you cross the threshold, even by $1, it creates a “tax cliff.” For example, in 2026 the first IRMAA tier for married couples begins at $218,000 of income. At that point, Part B premiums increase from $202.90 to $284.10 and Part D increases $14.50, resulting in an additional annual cost of $2,296.80. Since this tier spans $56,000 of income (from $218,000 to $274,000), that cost translates to roughly a 4.1% marginal “tax” on income within that range, but only if you fully utilize the entire bracket. If you only exceed the threshold by a small amount, you still incur the full $2,296.80 cost, which means the effective marginal rate on those extra dollars can be extremely high. When layered on top of a 22% federal bracket and 9.3% California tax rate, the true marginal rate is about 35.4% if the bracket is filled, but can be significantly higher if it is not. This framing is critical when evaluating strategies like Roth conversions or large withdrawals, because it highlights that the decision isn't just about stated tax brackets, it's about the all-in marginal rate including IRMAA. In practice, this means it is often beneficial to either stay below an IRMAA threshold or intentionally “fill up” the bracket once crossed, ensuring the additional premium cost is spread across the full income range rather than concentrated on just a few dollars.    Companies Discussed: Tractor Supply Company (TSCO), Intel Corporation (INTC) & The Procter & Gamble Company (PG)

This time on Healthcare Now it’s the return of Doctor Mark! He and Larry finally find another burger place to talk about, kicking things off with a discussion of what that “tallow” stuff really is! How are the insurance companies more than just insurance? Are they monopolies? When can ultrasound be used instead of x-rays? Doctor Mark explains how an MRI works (the short, SHORT version!) and we learn more about how AI can be used for medicine! Who’s IRMAA and why is she dipping into people’s pockets? April 15th is in the rear view mirror but we manage to squeeze in some tax talk! See omnystudio.com/listener for privacy information.

This time on Healthcare Now it’s the return of Doctor Mark! He and Larry finally find another burger place to talk about, kicking things off with a discussion of what that “tallow” stuff really is! How are the insurance companies more than just insurance? Are they monopolies? When can ultrasound be used instead of x-rays? Doctor Mark explains how an MRI works (the short, SHORT version!) and we learn more about how AI can be used for medicine! Who’s IRMAA and why is she dipping into people’s pockets? April 15th is in the rear view mirror but we manage to squeeze in some tax talk! See omnystudio.com/listener for privacy information.

What does it actually feel like to be on the cusp of retirement and wonder if you're doing it right? This week, Jean sits down with two listeners, Nancy and Melissa, who are both asking the same underlying question: How do I make sure I don't run out of money in retirement, while still actually enjoying my life? First, Jean talks with Nancy, 68, a soon-to-be retired nurse with $850K saved, a pension, and Social Security on the way. Nancy wants to renovate her bathrooms before she stops working, but she's torn between using her HELOC or tapping her nest egg.  Then Jean hears from Melissa, 53, who, along with her husband, has $1.2M+ saved across tax-deferred, Roth, brokerage, and treasury accounts, and wonders if she's taking on too much risk. Jean helps her zoom out, look at the full financial picture, and think through what a bucket strategy or annuity could mean for her peace of mind. In this episode: HELOC vs. refinance vs. pulling from savings; how to think through home improvement financing in retirement The 4% rule and when it makes sense to use it RMDs, IRMAA penalties, and why timing your withdrawals matters more than you think What 72% stocks actually look like when you account for your entire net worth Why hybrid long-term care policies might be worth a look How guaranteed income can actually free you to invest more aggressively with the rest Learn more about your ad choices. Visit megaphone.fm/adchoices

Medicare is full of fine print, fast-changing rules, and enough junk mail to fill a suitcase. So what actually separates the agents who barely survive from the ones who become the trusted name in their community? We sit down with Paige Phillips, founder of the Paige Phillips Insurance Agency and author of Medicare Playbook for Agents, to get practical about what works when the stakes are someone's healthcare and finances.We talk about the unglamorous details that build a thriving Medicare book of business: relationship-building, client education, and the discipline of doing a true needs analysis. Paige shares why “getting the plan right” means checking doctors and prescriptions down to the dosage, and why the best agents think long-term through retention, renewals, and referrals instead of chasing AEP like a short-term payout. We also dig into year-round touchpoints that keep clients connected, from birthday outreach to thoughtful follow-up after major health events, and how a simple “call me first” mindset protects seniors from confusing ads and sales calls.On the regulatory side, we cover Medicare compliance, CMS oversight, and why cutting corners is the fastest way to lose trust. Paige breaks down IRMAA (the income-related monthly adjustment amount), the two-year lookback, and how to set expectations so clients aren't blindsided by a premium surcharge. We close by looking forward at technology and AI, and what the next generation of retirees may demand from the Medicare enrollment process.Subscribe for more conversations on the shifts shaping benefits and insurance, then share this with an agent who cares about doing it right and leave us a review with your biggest Medicare question.

A wide-ranging Q&A episode tackles the real-world tradeoffs investors actually face: whether Paul Merriman's aggressive small/value “ultimate” portfolio is worth the complexity and risk, how much stock to put in scary online bank reviews versus FDIC reality, and how to find advice when you don't want someone managing your money. Don also explains why FAFSA tricks with traditional IRA contributions don't work, how to control capital gains taxes using specific share identification, and—somehow—confirms he was the voice behind a powerful Auschwitz exhibit. Practical, skeptical, and very Don.0:05 Friday Q&A intro and how to submit questions1:49 Merriman 10-fund portfolio vs “owning the market”5:21 Don confirms Auschwitz exhibit voiceover work6:54 Bread Savings reviews, withdrawal limits, and FDIC reality9:38 Finding tax-only retirement advice (CPA vs hourly planner vs EA)12:05 FAFSA myth: traditional IRA won't lower aid eligibility13:55 Selling ETFs: minimizing taxes with specific lot selection17:01 Podcast hosting quirks and MP3 download workaroundQuestions? Comments? Click!

David McKnight discusses the three biggest retirement planning mistakes that show up over and over again. Avoiding them will dramatically increase the likelihood that your retirement savings will last as long as you do.  Mistake #1 pertains to over-accumulating in tax-deferred accounts like 401(k)s and IRAs – a mistake that surprises many people as they feel they're doing everything right. The problem here is that you're taking a deduction at historically low tax rates only to postpone the payment of those taxes to a point in the future where tax rates are likely to be much higher than they are today. The moment you hit age 73 or 75, Required Minimum Distributions (RMDs) kick in. In other words, the IRS is forcing you to take money out, whether you need it or not. Those RMDs get combined with all your other sources of income: The taxable portion of your social security, your pension(s), and your investment income. David notes that, before long, you can find yourself in a higher tax bracket in retirement than you were during your working years. Remember, RMDs count as provisional income, which can cause up to 85% of your social security to become taxable – plus, it can trigger IRMAA surcharges on your Medicare premiums too. Building a retirement plan that is almost entirely tax-deferred looks good on paper but leaves you entirely exposed to the impact of higher taxes in the future. The second mistake is waiting too long to execute Roth conversions. David touches upon the so-called "retirement income valley," the ideal window within which to fully execute your Roth conversion. Many people ignore it. They're hesitant, reluctant to pay a tax to the IRS before it's absolutely required of them. Failing to take advantage of the "retirement income valley" puts you at risk of having your social security become taxable, while also paying higher Medicare premiums for the rest of your life. When it comes to Roth conversions, David recommends having a "rip the band-aid off" approach.  It may hurt a little during the conversion period but once that money is in the Roth bucket, it's tax-free for the rest of your life. The third big mistake David sees over and over again is underestimating future tax rates and overestimating your control over them. Most retirement plans today are built on the dangerous assumption that tax rates in the future will look a lot like they do today. However, David stresses that looking at the fiscal trajectory of our country paints a different picture. The national debt will grow by $2 trillion per year over the next 10 years, and $3 trillion per year after that. With the rising interest costs and $200 trillion in unfunded obligations for Social Security, Medicare and Medicaid, there will be a financial day of reckoning where tax rates will be forced higher. David predicts that to be around 2035 – which gives you around 10 years to plan and execute on your plan. People spend their entire lives focusing on building as big a retirement nest egg as possible, but they give almost no thought to the type of accounts within which that nest egg is being built. The lack of consideration for the tax implications upon distributions is a huge oversight, says David.  At the end of the day, the only thing that really matters in retirement is how much money you get to spend after taxes. David concludes by highlighting that the best way to regain control over your after-tax income retirement is to pay taxes on it preemptively at historically low tax rates and on your terms (rather than on the IRS' terms).     Mentioned in this episode: David's new book, available now for pre-order: The Secret Order of Millionaires David's national bestselling book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track Tax-Free Income for Life: A Step-by-Step Plan for a Secure Retirement by David McKnight DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com

About the Guest(s):Amy Irvine is the founder and CEO of Rooted Planning Group, a firm dedicated to grounding financial advice in real-life events. With extensive experience in financial planning, Amy and her team focus on providing individuals with advice tailored to their unique circumstances. Known for her engaging and informative approach, Amy hosts the Money Roots podcast, where she delves into financial topics that matter most to everyday listeners.Episode Summary:In this enlightening episode of Money Roots, Amy Irvine, the insightful CEO and founder of Rooted Planning Group, tackles the intricate world of Medicare. As healthcare costs continue to rise, understanding Medicare becomes crucial for those planning their retirement years. Medicare, a government health insurance program, is often riddled with confusion due to its complex rules and options. Amy provides a deep dive into these rules, helping listeners navigate the choices available to them, emphasizing the importance of integrating Medicare decisions into overall financial planning.Medicare comprises several parts, each serving distinct purposes: Part A covers hospital stays, while Part B covers medical services, both under "Original Medicare." Parts C and D offer additional advantages through private insurers, adding complexity and choice to the benefit structure. Amy elucidates on the surprising costs associated with Medicare, particularly addressing IRMAA (Income Related Monthly Adjustment Amount), a surcharge affecting Part B and D premiums. Essential strategies are shared, helping retirees plan effectively, from the significance of annual reviews to adjusting for IRMAA expectations. Amy's insights highlight the complex decision-making required for comprehensive retirement planning.Key Takeaways:Medicare is a key consideration in financial planning for retirees due to its complexities and costs.Annual reviews of Medicare plans are essential, as healthcare needs, and associated costs can change.IRMAA adjustments can greatly impact Medicare premiums and require careful income planning.Choosing between Medigap and Medicare Advantage plans depends on individual healthcare needs and financial situations.Some techniques, like Roth IRA conversions and Qualified Charitable Distributions, can help manage healthcare costs.Notable Quotes:"Once you elect Medicare coverage and supplements, don't set it and forget it. This is something that you should review every single year during open enrollment.""Medicare's importance has only grown as healthcare costs have steadily risen.""IRMAA operates as a cliff... this can catch even savvy retirees by surprise if their income rises above certain levels.""Choosing between Medigap and Medicare Advantage plans is not just affected by healthcare requirements, but also by the financial risk profile.""Medicare planning is not a one-time decision; it requires annual review because... health status and income levels can all change."Resources:For more on Rooted Planning Group and the Money Roots podcast: Rooted Planning GroupAdditional resources and transcript of the episode can be found in the episode's show notes at www.rootedpg.com/podcasts/2026/4/14/navigating-medicare-key-insights-for-financial-planning-successListeners are encouraged to dive into the full episode to uncover detailed insights and practical strategies on effectively planning for healthcare costs in retirement. Stay tuned to Money Roots for more engaging discussions about money matters that support your life's events.

Jim and Chris discuss listener emails on Social Security claiming strategies, IRMAA income adjustments, a listener PSA on the Roth five-year rule, conduit trusts for minor IRA beneficiaries and I-Bond tax reporting, and an inherited IRA passing through a trust. (10:30) George asks about the Social Security “January Rule” and whether claiming in December 2027 or January 2028 would capture the most delayed retirement credits after reaching full retirement age in May 2027. (21:00) A listener who retired early and has been performing Roth conversions asks whether he can also file an SSA-44 based on his wife’s upcoming reduction in work income, even though his conversions have been elevating their household MAGI. (31:00) The guys review a listener PSA clarifying that the fifth year of the Roth five-year rule must be completed entirely—not merely begun—before the holding period is satisfied. (39:45) Jim and Chris take a two-part question on how conduit trusts handle IRA distributions inherited by minor children, and whether the annual interest-reporting election used for EE bonds can also apply to I-Bonds. (1:06:00) A listener whose father-in-law named a trust as the IRA beneficiary — rather than the daughters directly — is getting conflicting advice on whether the IRA funds must be taken immediately or if they can spread the distributions — and the taxes — over five years. The post Social Security, 5-year Rule, Conduit Trusts, Inherited IRAs: Q&A #2614 appeared first on The Retirement and IRA Show.

In this episode of Money Matters, Scott and Pat break down real-world tax strategies for high net worth investors dealing with multi-million dollar IRAs, brokerage accounts, and rising future tax liabilities. They walk through detailed listener cases—including a couple with over $18 million in assets trying to minimize RMD taxes, IRMAA surcharges, and legacy tax burdens—while sharing actionable tax strategies for high net worth investors. Here's what you'll learn: How to handle upcoming RMDs on multi-million dollar retirement accounts Why Roth conversions may have limited impact at higher income levels How gifting appreciated assets can reduce your taxable estate When to use a donor-advised fund instead of giving cash Why you should stop reinvesting dividends in taxable accounts How tax-loss harvesting technology can improve portfolio efficiency The importance of asset location (and how mistakes can cost you) How to better prepare large portfolios for generational wealth transfer Why AI can assist—but not replace—real financial advice If you're serious about optimizing your wealth, understanding the right tax strategies for high net worth investors can help you reduce taxes, protect your assets, and build a more efficient long-term plan. Join Money Matters:  Get your most pressing financial questions answered by Allworth's co-founders Scott Hanson and Pat McClain. Call 833-99-WORTH. Or ask a question by clicking here.  You can also be on the air by emailing Scott and Pat at questions@moneymatters.com. Download and rate our podcast here.