Podcasts about rmds

Should you use permanent life insurance to cover long-term care? Does converting a $1M pre-tax account before you stop working make mathematical sense? In this episode of Allworth's Money Matters, Scott and Pat walk through real-world portfolio case studies, dissect common tax myths, and break down where aggressive financial pitches fall short. Topics covered in this episode: The Rise of Prediction Markets: Why momentum traders are shifting from crypto to event betting, and how speculative traps disguise themselves as investing. Commercial Real Estate Realities: A look at how major leveraged properties can collapse, and the timeless importance of broad diversification. Caller Case Study (Jonathan): Evaluating a seminar pitch on life insurance with long-term care riders, understanding pure insurance costs, and deciding when self-insuring makes sense with a $2.5M portfolio. Caller Case Study (Jeff): Debunking the “zero taxes” pitch. Scott and Pat explore the math behind Roth conversions, the difference between marginal brackets, and why high earners shouldn't rush conversion timing before RMD age. 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.  

Once required minimum distributions begin, the IRS decides how much comes out of your IRA each year. But it doesn't decide when... You can take it all in January, wait until December, or spread it out across the year. At first glance, the choice seems almost meaningless. The required amount is the same, and the distribution still lands in the same tax year. But the timing can matter in ways that aren't always obvious. And even if you're years away from taking RMDs, this is a decision you'll eventually need to make if you have money in pre-tax retirement accounts. Here's what you'll learn: → The 3 things RMD timing can still affect (and how much each one really matters) → Why the order of your RMD, charitable gifts, and Roth conversions can matter more than the month you withdraw  → When taking your RMD early, late, or throughout the year makes the most sense By the end, you'll have a simple framework for thinking about RMD timing before it becomes another retirement decision you're forced to make on the fly. ***

Should you stop your Roth conversions at the 22% tax rate, or push into the 24% bracket?  David McKnight responds to a viewer's detailed case for stopping early, revealing why optimizing this year's tax bill can be the wrong retirement planning move over a 30-year horizon. You'll discover his "rip the band-aid off" approach and why saving money on taxes today isn't a victory if it costs you more tomorrow. In a recent video, David McKnight explained why he believes the 24% tax bracket is the sweet spot in the current tax code for Roth conversions. In this episode, he addresses a viewer's comment that laid out a pretty detailed case for why he believes it makes sense to stop at the 22% bracket. The main difference between these approaches, David stresses, is that his viewer is optimizing the tax bill in the year of conversion – while David tries to optimize your tax bill over the balance of your lifetime.  David illustrates why those two approaches can lead you in two entire different directions. Depending on the size of your IRA, the amount you're spending every year, your expected rate of return, and how many years you have before RMDs begin, you may simply not have enough space in the 22% bracket to get any meaningful amount of conversion done. Most of David's clients don't have $100,000 per year of taxable investment income coming out of a brokerage account. The lion's share of their retirement savings tends to be sitting in IRAs and 401(k)s, and they're generally taking distributions from those accounts to support their lifestyle. David discusses his so-called "rip the band-aid off" approach to Roth conversions. The biggest problem with his viewer's argument is the focus on calculating what it costs to convert the money today, without asking what it's going to cost if we don't convert it. The choice may be between paying a somewhat painful tax rate today or allowing that money to compound inside the IRA for another 10-15 years.  That may lead you to deal with larger RMDs, potentially higher tax rates, more taxation of social security, potentially more IRMAA, and the eventual death of one of the spouses. David wonders whether, with the approach suggested by his viewer, you're actually solving the problem or just postponing it. "Because saving money on taxes today isn't much of a victory if doing so ultimately causes you to pay even more over a 30-year retirement", he concludes. Mentioned in this episode: David's national bestselling book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube

The end of the year will be here before you know it. What financial moves should you make now instead of waiting until December? Lance Roberts and Jon Penn look at 10 important year-end financial planning decisions to consider before December 31, including tax planning, Roth conversions, required minimum distributions (RMDs), qualified charitable distributions (QCDs), retirement plan contributions, and charitable giving. 0:00 INTRO 1:02 - The Challenge in the Markets 2:22 - Will Warsh Hike Rates...or not? 3:19 - Markets Struggle through Narrow Trading Range 4:31 - If the Markets Stay Flat...? 8:47 - Preparing for Q4 (Halloween & Christmas) 12:32 - Gold, Silver, & Precious Metals as Inflation Hedge? (Why to earn certain assets) 14:24 - Figuring out the equity allocation puzzle 19:26 - ...when we're 64. 20:45 - 20% is not enough for equity exposure 23:33 - Diversity Assets AND Account Types 25:20 - Turn off the noise; the problem with being pessimistic 27:31 - Know What You Own 29:40 - What to Focus on Between Now & EOY 30:55 - How to Prepare for Santa Cause Rally (Tax-loss Harvesting) 32:21 - Wash Rules & ETF's 33:58 - Charitable Contributions & Donor Advised Funds 35:16 - Does Roth Conversion Make Sense Now? 36:00 - How to Handle Required Minimum Distributions this year 36:40 - Qualitied Charitable Distributions 39:30 - Maxing Out Contributions to IRA's (Get the free money) 42:54 - Portfolio Allocation, Risk Tolerances, & Large Expenditures: Cash on hand? 46:07 - Reviewing Beneficiary Designations Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Jonathan Penn, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch today's Before the Bell report, "Is AI Spending Really Slowing?" https://youtu.be/sSQVKetdR2g ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/cSHoYh0sR70 -------- Watch our previous show, "Is This Time Different for Stocks?" https://youtube.com/live/GNSmdq5nH2o ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next in-person Retirement Income Workshop, "Saturday, September 19, 2026: https://tracking.realinvestmentadvice.com/l/1052953/2026-06-17/2kkcz --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #AIStocks #MarketOutlook #Investing #TechnologyStocks #FinancialPlanning #RetirementPlanning #TaxPlanning #RothConversion #YearEndPlanning

Could your retirement income create a larger tax bill than you expected? In this episode, Frank and Frankie Guida discuss how taxes, required minimum distributions (RMDs), taxable accounts, and Social Security taxation can affect retirement income. They explain why tax planning before RMDs begin may be an important consideration and share a case study of a couple preparing for retirement with concerns about future taxes. The conversation explores strategies for improving tax efficiency, evaluating different account types, and understanding how retirement income sources may impact long-term financial decisions. Schedule a complimentary appointment: A Better Way Financial Learn more about Frank and Frankie's book here! Buy Frank's book! Amazon Best Seller, “The Book on Retirement: A Better Way to Stretch Your Retirement Dollars While Living the Lifestyle of Your Dreams.” Buy Frankie's book! Amazon Best Seller, ""A Better Way to Retire: How a Fiduciary Retirement Planner Can Be the Key to Financial Success" CLICK HERE to register for one of our upcoming Tax-Smart Retirement Planning Dinner Workshops. Follow us on social media: Facebook | LinkedIn | YouTube See omnystudio.com/listener for privacy information.

Could a healthcare bill, a longer lifespan, and a surprise tax hit quietly reshape your retirement? Granger Hughes breaks down the growing cost of healthcare in retirement, why Medicare may not cover as much as many people expect, and how longevity can impact income planning for couples. He also discusses how required minimum distributions can trigger unexpected taxes, higher Medicare premiums, and Social Security taxation. Plus, the conversation explores the evolving role of annuities, separating common misconceptions from practical retirement planning considerations. From healthcare costs to tax efficiency and income sustainability, this episode focuses on key factors retirees need to evaluate when building a long-term retirement strategy. Hit play to discover what your financial advisor should be telling you. For events and complimentary consultations, visit hughesretirementgroup.com.See omnystudio.com/listener for privacy information.

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If an investment takes longer than a minute to explain, the confusion may be doing the selling. Don and Tom examine the confusion-to-risk ratio through structured notes, CDOs, variable annuities, equity-index annuities, leverage, hidden tradeoffs, and the costly products that prosper when buyers stop asking simple questions. Then they tackle tax-gain harvesting for a child, Massachusetts municipal bonds, and RMD timing.Want more Money Music? Hear extended versions from Don's fictional AI band, The Financial Fysicist, on Apple Music: https://music.apple.com/us/album/let-the-boring-money-in/6805953759 or Spotify: https://open.spotify.com/album/0G06JEvGsyw6SISfAOxLt6?si=ah2uVVWuQwmxTqjBeta8AQQuestions? Comments? Click!

Could the biggest risk to your retirement be how you react to market volatility? From this past weekend’s radio show, Mike Douglas discusses why market corrections may feel different in today’s technology-driven investing environment and what retirees should consider when preparing for downturns. He explores the impact of RMDs, taxes, Medicare premiums, and Social Security taxation, along with the importance of coordinating investment, income, tax, and estate planning strategies. Mike also explains why a retirement plan should address more than just investments and take a broader view of long-term financial decisions. Schedule your complimentary appointment today: MichigansRetirementCoach.com Follow us on social media: YouTube | Facebook | Instagram | LinkedInSee omnystudio.com/listener for privacy information.

Are your retirement assumptions realistic, or is your financial plan relying on best-case scenarios? In this episode of Money Matters, Scott and Pat dive into the practical realities of long-term planning—from preparing for market volatility to navigating complex estate and tax rules. Plus, Scott and Pat answer caller questions on managing a multi-million-dollar portfolio, strategic gifting, and what it really takes to achieve financial independence in your 40s. In this episode, we cover: Stress-Testing Your Portfolio: Why planning for bear markets matters, how to avoid overly optimistic return assumptions, and why keeping 5–7 years of income in cash or fixed income can protect your lifestyle. A $6M Estate & RMD Strategy: Navigating PCRA/401(k) rules while still earning income, managing high tax brackets, and balancing lifetime gifting vs. traditional inheritance. 529 Plans & SECURE 2.0: Key considerations when redirecting college savings and exploring Roth rollover rules. The Realities of FIRE & Coast FI: Breaking down the 4% rule (25x expenses), balancing early retirement with long-term fulfillment, and understanding the "Four Freedoms." Protecting Your Family: Why life insurance is essential for young families on the path to financial independence.   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.

How much money do you really need to retire, and what does a $1 million, $2 million, $3 million, or $5 million retirement actually look like? Brian and Bo break down retirement income, the 4% rule, Social Security benefits, monthly retirement spending, and the lifestyle each portfolio could support. Plus, see how much you may need to invest each month to reach these retirement savings milestones by age 65. From sequence-of-returns risk and healthcare costs to inflation, RMDs, tax planning, and estate planning, this is a practical look at building wealth, finding your retirement number, and planning for financial independence. ⁠⁠⁠⁠ Jump start your journey with our FREE financial resources⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Reach your goals faster with our products⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Take the relationship to the next level: become a client⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Subscribe on YouTube for early access and go beyond the podcast⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Connect with us on social media for more content⁠⁠⁠⁠⁠⁠⁠ Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode we answer emails from David, Olavo, and Nick.  We discuss evaluating a sample portfolio and transitioning, helping parents and other relatives with their situations and milk-shake drinkers, being careful with leverage, large cap growth and small cap value funds for U.K. listeners and adding a 5% allocation of managed futures to a mix.Links:Afford Anything Risk Parity Portfolio Blueprint:  Afford Anything frank-vasquez-risk-parity-portfolio-BluePrint.pdf - Google DriveSteve Eisman Podcast:  P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74David's Leverage Analysis:  Portfolio Backtester for ETFs and Asset Allocation | testfolioBreathless Unedited AI-Bot Summary:A portfolio can look brilliant on a chart and still fail the moment real life shows up. We tackle that gap with three listener emails that force the question most investors avoid: what does “good investing” look like when the goal is sustainable spending, family responsibility, and staying out of trouble?First, we unpack a detailed risk parity style decumulation portfolio that blends U.S. growth, small cap value, international small cap value, property and casualty insurers, gold, managed futures (DBMF), and long-duration Treasury STRIPS (GOVZ), plus a small Bitcoin slice. We translate “implied leverage” so you can see the true macro allocation to stocks, bonds, and alternatives and judge whether the mix fits the safe withdrawal rate guidelines many retirees aim for. Then we zoom out: for aging parents stuck with a high-fee AUM advisor and a sister-in-law facing a life insurance payout, we explain why planning comes before portfolio construction, touching health and longevity, taxes, RMDs, spending needs, legacy goals, and the very practical issue of who will manage the money over time.We also go deep on leverage. If you are considering 1.5x exposure using margin at Interactive Brokers, we discuss how to model margin interest, why drawdowns matter more than averages, how margin calls happen, and why a small test allocation beats going “whole hog.” Finally, we answer a UK-specific question with UCITS ETF ideas for large cap growth and small cap value, and we give a quick framework for whether 5% DBMF can move the needle alongside 10% to 15% gold.Subscribe, share this with a friend who is redesigning their retirement portfolio, and leave a review with your biggest investing question so we can address it next.Support the show

Anytime I'm working with a client looking to retire early, there is usually a combination of excitement and nerves. For one, Medicare likely isn't an option for several years down the road. But more importantly, there is no fixed income coming into the picture. Employment/Self-Employment income is gone, no pension, no Social Security yet. And suddenly, the portfolio they've worked decades building up becomes the primary source of income. I call these The Bridge Years. But these “bridge years” may also offer some of the greatest planning opportunities of your retirement.In this episode, we're going to help you navigate this important period and help you prepare not only financially, but also psychologically. You'll learn:• Which accounts you may want to withdraw from first• How the Rule of 55 and Rule 72(t) can provide early access to retirement accounts• How much cash and short-term fixed income you may want to hold• Why the years before Social Security and RMDs can create valuable tax-planning opportunities• How to coordinate Roth conversions, capital-gain harvesting, and ACA health-insurance subsidies• Why a higher initial withdrawal rate may be completely acceptable• How to navigate the dreaded 'sequence of returns' risk• Why longevity, healthcare, and long-term care require special attention when retiring in your 50s or early 60sEarly retirement is not like a normal retirement, but vigilant planning can help you bridge the gap and gain years of valuable time back. I hope this episode helps. If you find this content useful, do me a favor and leave us a 5* review wherever you are consuming podcasts. It really helps us reach and impact as many people as we can. Thank you!-Kevin ⁠⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Connect with me here:​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow the podcast⁠⁠​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join My Company Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠This is for general education purposes only and should not be considered as tax, legal or investment advice.

Seven Life Insurance Tax Benefits Many People Are Unaware Of Episode 398 – It's not always easy to understand how life insurance works. But there are some unique tax advantages that often get overlooked. Here are seven of them. More SML Planning Minute Podcast Episodes Transcript of Podcast Episode 398 Hello, this is Bill Rainaldi, with another edition of Security Mutual's SML Planning Minute. In today's episode: seven life insurance tax benefits many people are unaware of. Is there really such a thing as a simple financial product? Maybe. But in many—if not most— cases, tax law introduces complications that can make some products difficult for the typical consumer to understand. But with that comes opportunity. You're going to pay taxes anyway, but along the way, you might as well make an effort to minimize them. Life insurance, particularly permanent life insurance, offers its share of tax complexities. But many of these, if you truly understand them, can help produce advantageous after-tax results. Here are seven tax benefits you might not be aware of: 1) In most cases, the life insurance death benefit is income tax-free. This is probably the biggest, and most well-known, tax advantage of life insurance. When you receive a large sum of cash after someone dies, the taxation depends on where the money comes from. For example, if you inherit an individual retirement account or IRA, you are likely to be facing a significant income tax bill. Not so with a life insurance death benefit. We must caveat, that we are referring to typical lump-sum payouts directly to a named person that are generally income tax-free. Exceptions can occur due to interest earnings, estate size, policy transfers, or complex ownership structures. These are not typical scenarios, however. Using the typical scenario, the difference is potentially huge. If you're in a 32 percent tax bracket for example, your $1,000,000 of pre-tax cash will only be worth $680,000 after tax. But with the few exceptions already referenced, a $1,000,000 of life insurance death benefit is worth the full $1,000,000 after tax. 2) Tax-deferred growth of cash value. In most circumstances, a permanent life insurance policy will generate a cash value, which is also the amount you would receive if you surrendered the policy. Note that a term life insurance policy generally does not have any cash value.The cash value within a permanent policy—in most but not all cases—grows on a tax-deferred basis, unlike, say, a mutual fund or a stock that pays a dividend. The gains within the policy are not taxed from year to year. Gains only become taxable in certain circumstances, such as a cash surrender of the policy, certain withdrawals above your taxable basis, or if the policy lapses. 3) Tax-free borrowing via policy loans. You have the ability to borrow against your policy's cash value on a tax-free basis, within limits, as long as the policy stays in force. Tax-wise, loans are treated as debt, not income. As with most types of loans other than home mortgages, interest payments are not deductible. But unlike a bank loan, the loan decision is entirely yours. You don't have to ask anyone else to approve your application, and while you will continue to accrue interest, you are not required to pay the loan back at any particular time. 4) Receiving an “accelerated death benefit” that is generally tax-free. If you are chronically or terminally ill, you may be able to access a portion of the policy's death benefit while you are still living if the policy includes a chronic or terminal illness accelerated death benefit provision. From a tax perspective, assuming certain conditions are met, the distribution would be treated as an income tax-free acceleration of the eventual death benefit payment. 5) Tax-free exchanges via IRC Section 1035. You can also exchange one life insurance policy for another without being immediately taxed on any gains. There are, of course, some rules you'll need to follow. When the first policy is transferred, the money needs to go directly from the original transferring insurance company to the new insurance company. Of course, if the original company is also issuing the new policy then there is no physical transfer. The main thing is that you can't take receipt of the policy proceeds yourself during the exchange. Also, the new policy must have the same owner and insured as the old one. No material changes may occur but if you follow the rules, a Section 1035 exchange can be an opportunity to improve the life insurance benefits over the ones in your original transferred policy. The new policy may have a higher or less expensive death benefit, performance implications, or riders that may not have existed before or are better, all without any current tax implications. 6) A life insurance policy can help with estate taxes. Not many people think about this one. After all, federal estate tax law, as of 2026, allows you to leave up to $15 million to your heirs ($30 million for a married couple) before any federal estate tax is assessed.[1] But state estate tax laws are different. If you live in certain states, such as New York, Maryland or Massachusetts, the threshold is much lower.[2] Estate tax rates can be high, and an Irrevocable Life Insurance Trust (ILIT) can help ensure the associated life insurance proceeds are not included in your taxable estate, thus minimizing or helping to avoid a potentially significant estate tax. If this sounds like something you'd be interested in, it is recommended to consult with a qualified life insurance professional. 7) In a business situation, life insurance can potentially have tax advantages. Businesses can find ways to use life insurance in a tax-efficient manner. This might include buy-sell agreements, key-person insurance, split-dollar arrangements, or executive benefit plans. Premiums paid are generally not deductible for the business, but these strategies can still provide significant tax advantages to both the business and the insured individual(s). And here's a bonus tax-advantaged use of life insurance: 8) Potential retirement income. If the circumstances are right, a cash value life insurance policy can be used to supplement retirement income. This doesn't happen overnight; it's a strategy that generally needs to be planned out well in advance. Once a life insurance policy has been well-capitalized (and this usually takes someone many years) it is possible to access cash value through periodic tax-free loans and withdrawals to the policy's tax basis. This strategy can provide retirement income that is both tax-free and not subject to Required Minimum Distributions or RMDs. Such loans and withdrawals are generally not guaranteed. As is always the case with taxation, things can become very complicated, and there are some pitfalls to watch out for. One of the most notable is something called a “modified endowment contract.” The IRS specifies how much money can be paid into a life insurance contract, and if you exceed those limits, many of the tax advantages could be lost. It's too complicated to discuss in detail here, but it's a good illustration of why you need the help of a qualified life insurance professional. Interested in pursuing some of the special tax advantages discussed here? Your Security Mutual Life insurance agent can help. Your Security Mutual Life insurance agent can augment or help assemble your financial team and coordinate with your attorneys and tax professionals to review your situation, and to determine the insurance plan that will best suit your needs and objectives. [1] Internal Revenue Service. “Estate Tax.” IRS.gov. https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax (accessed August 6, 2026). [2] Loughead, Katherine. “Estate and Inheritance Taxes by State, 2025.” Taxfoundation.org. https://taxfoundation.org/data/all/state/estate-inheritance-taxes/ (accessed August 6, 2026). More SML Planning Minute Podcast Episodes This podcast is brought to you by Security Mutual Life Insurance Company of New York, The Company That Cares®. The content provided is intended for educational and informational purposes only. Information is provided in good faith. However, the Company makes no representation or warranty of any kind regarding the accuracy, reliability, or completeness of the information. The information presented is designed to provide general information regarding the subject matter covered. It is not to serve as legal, tax or other financial advice related to individual situations, because each individual's legal, tax and financial situation is different. Specific advice needs to be tailored to your situation. Therefore, please consult with your own attorney, tax professional and/or other advisors regarding your specific situation. To help reach your goals, you need a skilled professional by your side. Contact your local Security Mutual life insurance advisor today. As part of the planning process, he or she will coordinate with your other advisors as needed to help you achieve your financial goals and objectives. For more information, visit us at SMLNY.com/SMLPodcast. If you've enjoyed this podcast, tell your friends about it. And be sure to give us a five-star review. And check us out on LinkedIn, YouTube and Twitter. Thanks for listening, and we'll talk to you next time. Tax laws are complex and subject to change. The information presented is based on current interpretation of the laws. Neither Security Mutual nor its agents are permitted to provide tax or legal advice. The applicability of any strategy discussed is dependent upon the particular facts and circumstances. Results may vary, and products and services discussed may not be appropriate for all situations. Each person's needs, objectives and financial circumstances are different, and must be reviewed and analyzed independently. We encourage individuals to seek personalized advice from a qualified Security Mutual life insurance advisor regarding their personal needs, objectives, and financial circumstances. Insurance products are issued by Security Mutual Life Insurance Company of New York, Binghamton, New York. Product availability and features may vary by state.​ SubscribeApple PodcastsSpotifyAndroidPandoraby EmailTuneInDeezerRSSMore Subscribe Options

What does financial planning actually mean beyond managing an investment portfolio? Jeremiah Bates and Nic Daniels are joined by Bob Ruelle, Senior Vice President of Financial Planning at Apollon Wealth Management, to walk through how an experienced planner approaches a client's entire financial picture. Bob explains why good planning starts with understanding a person's goals, lifestyle, concerns and priorities before recommending anything—and why the financial plan itself should ultimately be the benchmark for whether a strategy is working. The guys cover tax planning, Roth conversions, retirement withdrawal strategies, RMDs, Social Security, Medicare IRMAA, insurance, risk management and estate planning—and, more importantly, how those decisions affect one another. Bob explains why a good financial plan organizes your finances, while a great one connects them, prioritizes the biggest opportunities and continues evolving as life changes. Later, they discuss common estate-planning mistakes, including outdated trusts and assets that were never properly titled. A caller whose husband is incapacitated after a bicycle accident brings the importance of powers of attorney and incapacity planning into real life. And to wrap it up, whether it can make sense to give children part of their inheritance while you're still alive, including annual gift exclusions, gift-tax reporting, appreciated property, cost basis and the tradeoffs between gifting assets now versus leaving them at death.   Listen, Watch, & Connect! https://www.therealmoneypros.com ————————————————————— Ataraxis PEO https://ataraxispeo.com Tree City Advisors of Apollon: https://www.treecityadvisors.com Apollon Wealth Management: https://apollonwealthmanagement.com/ —————————————————————

(Short episode) One small assumption can turn a routine Required Minimum Distribution (RMD) into an IRS penalty, and it happens to smart retirees all the time. We walk through the real-world RMD mistakes we see most often, using simple examples that make the rules stick without the jargon overload.The “married filing jointly” trap: Why you still cannot satisfy two spouses' IRA RMDs from one person's account, even if the household withdraws the right total. Then we get practical about aggregation rules, because not every retirement account plays by the same combining logic. Traditional IRA RMDs can be aggregated across multiple IRAs, but 401(k) RMDs generally cannot. We also explain the 403(b) exception, and why mixing up IRA, 401(k), and 403(b) rules can create an accidental shortfall on the account you never touched.We cover the rollover mistake that surprises people consolidating an old 401(k) into an IRA after reaching RMD age. RMDs cannot be rolled over, and skipping that step can lead to an excess IRA contribution and an ongoing penalty until it is fixed. If you care about retirement tax planning, RMD rules, and avoiding unnecessary IRS penalties, this is a quick listen that can save real money.

Navigating the world of finance can be overwhelming, especially when biased advice and outdated strategies cloud the path to financial success. That's why Price Financial Group Wealth Management created Investing Simplified — a podcast dedicated to demystifying the complexities of finance and investing. Join our experienced hosts and guest experts as they break down financial concepts into practical, actionable insights. Whether you're a seasoned investor or just getting started, Investing Simplified is your go-to resource for honest advice and proven strategies to help you build a confident financial future. Meet the Hosts: Matt Mai - CIO & Wealth Manager Matt Sudol - COO & Wealth Manager Bo Caldwell - CCO & Wealth Manager Tune in and take charge of your financial journey with clarity and confidence! Schedule A Complimentary Consultation

Could your retirement income trigger taxes and higher Medicare costs you didn’t expect? From this past weekend’s radio show, Mike Douglas discusses how required minimum distributions (RMDs), Social Security taxation, capital gains, and Medicare premiums can work together in retirement. He explains why tax planning often involves more than a single financial decision and shares examples of strategies retirees and business owners may consider when preparing for retirement. The conversation also covers election-year market concerns and why building a retirement plan around personal goals may be more important than reacting to headlines. Schedule your complimentary appointment today: MichigansRetirementCoach.com Follow us on social media: YouTube | Facebook | Instagram | LinkedInSee omnystudio.com/listener for privacy information.

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

One retiree's first required minimum distribution added $42,000 to his tax bill, raising a question many savers never see coming. In this episode, Lawrence Kiely & Katherine Groce discuss how RMDs can affect taxes, Social Security taxation, and Medicare premiums. They explore Roth conversions, charitable giving strategies, legacy planning considerations, and ways retirees may evaluate different tax buckets as part of a broader retirement income plan. Learn why retirement tax planning often requires looking beyond account balances and focusing on how and when money is withdrawn. Want to begin building your retirement and tax plan? Click Here to Schedule a 15-minute Discovery Call Follow us for more helpful insights:

Unexpected costs like taxable Social Security, Medicare premium spikes, and Required Minimum Distributions can derail a picture-perfect retirement if you fail to plan for them early. Host Charisse Rivers shares how taking a proactive approach helps keep your nest egg intact. Drawing comparisons between competitive paintball battles and navigating financial strategies, she highlights the importance of managing taxes, healthcare, and income streams. Learn how a complete multi-part retirement plan protects your purchasing power against inflation and rising living costs, ensuring you stay ahead of surprises and maintain control of your financial future. Like this episode? Hit that Follow button and never miss an episode!

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

Friday's question pile ranges from the safest bond fund around to the harder question of what retirement is actually for. Don sorts through the choices with his usual preference for simple, sturdy answers.He weighs the TSP G Fund against BND, checks the bona fides of Raisin and The College Investor, and argues that leaving work makes sense only when something better is waiting on the other side.Then comes a candid disagreement over 21-fund portfolios, followed by a pension decision for a well-funded couple who can afford to self-insure. The court may have advisors, but Don is still happy being its jester.Topics03:26 Is the TSP G Fund enough fixed income?05:47 Raisin and The College Investor: useful and legitimate?09:44 Retirement needs a purpose, not just an age12:37 Twenty-one funds, advisor complexity, and honest disagreement16:11 Single-life versus joint-survivor pension choices18:57 Social Security timing, RMDs, and a very strong retirement planQuestions? Comments? Click!

Should every dollar go into a Roth 401(k) if taxes will be higher? David McKnight reveals why that instinct could actually be one of the most expensive tax decisions a high-income earner can make when it comes to retirement planning. In this episode, David McKnight addresses two frequently asked questions: "If tax rates are going to be higher in the future, should I be putting every dollar into a Roth 401(k)?" and "Should I be converting as much of my IRA to Roth as quickly as possible?". David believes that the current tax rates are as low as we're likely to see in your lifetime. The national fiscal trajectory is apocalyptic: there is over $39 trillion in debt that's going to increase by $2 trillion per year over the next 10 years, and over $200 trillion in unfunded obligations for Social Security, Medicare, and Medicaid. Despite all of this, politicians on both sides of the aisle seem unwilling to make the tough decisions necessary to address the crisis. Many people hear that taxes will be higher in the future and conclude that every retirement planning contribution should be immediately redirected into Roth accounts. However, if you're a high-income earner contributing heavily into a Roth 401(k) today as part of your retirement planning may actually be one of the most expensive tax decisions you can make. When evaluating whether to contribute to a traditional 401(k) or a Roth 401(k), the question isn't whether taxes will be higher in the future. Rather, it's "Will my effective tax rate in retirement be higher than the tax rates I'm currently paying on the marginal dollar today?". David discusses the so-called Retirement Income Valley, the period of time after your paycheck stops but before social security and RMDs fully kick in. An Ernst & Young study examining what happens when retirees allocate a portion of their retirement savings to a maximum-funded index universal life policy produced striking results. Researchers found that if you could divert 30% of your retirement contributions to an IUL with the goal of saving 3-5 years of living expenses by day one of retirement, it helps shield you from stock market volatility. David stresses that an IUL isn't designed to replace the investment portion of your portfolio, rather to protect it. Mentioned in this episode: David's national bestselling book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track The Power of Zero: How to Get to the 0% Tax Bracket and Transform Your Retirement by David McKnight DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Ernst & Young

This week on Financial Planning: Explained, host Michael Menninger, CFP®, welcomes back Nick DeVito, CFP®, to break down one of the most important and often misunderstood topics for beneficiaries of retirement accounts: Inherited IRAs and the IRS rules that apply to them. When you inherit an IRA, the rules for taking distributions can be very different from the rules that applied to the original account owner. Depending on when the account owner died, your relationship to the deceased, and other factors, you may face specific distribution requirements, deadlines, and potential tax consequences. Mike and Nick walk through the key rules surrounding inherited IRAs and explain what beneficiaries need to understand when they inherit a traditional IRA or other retirement account. They discuss the 10-year rule, required minimum distributions (RMDs), beneficiary requirements, and some of the common mistakes that can create unexpected tax problems. The episode also includes a real-world client situation involving a large, well-known financial institution. Mike and Nick discuss how the institution provided the client with incorrect guidance about handling an inherited IRA, highlighting just how confusing these rules can be—even when someone is working with a major financial company. The case study demonstrates why beneficiaries should carefully evaluate inherited IRA advice and understand the rules before making potentially costly decisions. The conversation also highlights why inherited IRAs should not simply be treated like your own retirement account. Understanding the applicable IRS rules and creating a distribution strategy can be critical to avoiding unnecessary taxes and penalties while making the most of an inherited retirement account. Viewers will gain valuable insight into: What happens when you inherit an IRA How the IRS inherited IRA rules work The inherited IRA 10-year rule explained When inherited IRA beneficiaries may be required to take distributions How RMD rules apply to inherited IRAs Important differences between inherited IRAs and your own IRA How beneficiary status can affect inherited IRA distribution rules Potential tax consequences of inherited IRA distributions A real-world example of incorrect inherited IRA guidance from a large financial institution Why even major financial institutions can get inherited IRA rules wrong Common inherited IRA mistakes beneficiaries should avoid What the SECURE Act changed for inherited retirement accounts Why timing matters when taking distributions from an inherited IRA How inherited IRA rules can affect your overall tax strategy What beneficiaries should know before taking money out of an inherited IRA Why professional retirement and tax planning can be important after inheriting an IRA Inherited IRAs can come with complicated rules, and making the wrong move can potentially result in unnecessary taxes or penalties. As this episode's real-world case study demonstrates, the size or reputation of a financial institution doesn't necessarily mean that the advice you receive is correct or appropriate for your specific situation. Whether you've recently inherited an IRA, expect to inherit one in the future, or are helping a family member plan for an inherited retirement account, understanding the rules can help you make more informed financial decisions. This episode provides a practical overview of inherited IRA rules and the IRS requirements beneficiaries should understand as they navigate retirement account inheritance and wealth transfer. For more information on Menninger & Associates Financial Planning, visit: https://maaplanning.com

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

Could your 401(k) become a retirement tax headache? JoePat Roop breaks down the Roth versus traditional IRA debate, required minimum distributions, Medicare surcharges, and why taxes often become a bigger issue in retirement than many expect. JoePat also discusses retirement risks for small business owners and strategies for building a more tax-aware retirement plan. For more information or to schedule a consultation call 704-946-7000 or visit BelmontUSA.com! Follow us on social media: YouTube | Instagram | Facebook | LinkedInSee omnystudio.com/listener for privacy information.

Your IRA may not be as much yours as you think. This episode explores the hidden tax liability inside 401(k)s and IRAs, why the IRS can become a silent partner in your retirement, and how expiring tax laws could impact your future income. Nolan Baker and Danny Schauber break down Roth conversions, required minimum distributions (RMDs), Medicare IRMAA surcharges, Social Security taxation, and strategies designed to reduce lifetime taxes. They also discuss how recent SECURE Act changes affect inherited IRAs and why proactive tax planning may help preserve more wealth for your family. Learn why a tax "what-if" analysis can uncover opportunities before today's tax landscape changes. About America's Retirement Headquarters: We are dedicated to helping retirees achieve the retirement they deserve. From crafting personalized retirement income strategies to providing a single location for all your retirement solutions, our goal is to guide you every step of the way. Let us help you navigate the complexities of retirement so that you can enjoy financial confidence and peace of mind.See omnystudio.com/listener for privacy information.

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

Required minimum distributions don't have to trigger a fire sale. Don explains how an in-kind transfer can move an investment from an IRA to a brokerage account while preserving the holding and resetting its cost basis.Then it's back to school: a cut-off Coverdell question, the unusual strength of the TSP G Fund, and a surprisingly useful 4% money market account that can behave a lot like checking.The finale sorts out UTMA 529 rules, beneficiary control, and why a low-cost age-based portfolio is often the simplest college-saving choice.Timestamps:0:43 Friday listener Q&A begins3:26 RMDs without selling investments7:16 Moving a Coverdell into a 5298:24 Why the TSP G Fund stands out10:12 A 4% money market checking alternative12:50 UTMA 529s, control, and age-based fundsQuestions? Comments? Click!

Bob Goff once said, “We won't be distracted by comparison if we're captivated by purpose.” That's especially true when it comes to money. Comparison tempts us to measure our success against someone else's income, lifestyle, investments, or possessions. But when we understand who we are in Christ and why God has entrusted resources to us, money becomes a tool for fulfilling God's purposes rather than a scorecard for measuring our worth. Jim Rasmussen, co-founder and brand ambassador at Pandowealth and a Certified Kingdom Advisor®, has spent years helping individuals, families, and business owners approach financial decisions with wisdom and purpose. Through that work, he has seen how easily comparison can creep into our financial lives—and how biblical stewardship can help us escape it. When Comparison Takes Root Comparison often begins innocently. For business owners, it might start by comparing sales, expenses, or profitability with another company. Before long, however, that same mindset can spill into personal finances. Who has the bigger house? Who takes better vacations? Who has accumulated more? Who seems further ahead? For high earners in particular, there can be a subtle temptation to connect net worth with self-worth. And without a clear sense of purpose, financial success can actually make the problem worse. A successful business should ultimately support a financial plan, and a financial plan should support the life God is calling us to live. But when that larger purpose hasn't been defined, it becomes easy to look around and simply copy what others are doing. That is where comparison begins replacing stewardship. Resources Are Gifts, Not Trophies 1 Peter 4:10 says: “As each has received a gift, use it to serve one another, as good stewards of God's varied grace.” Biblical stewardship begins with recognizing that what we have is a gift from God. Our resources were never meant merely to become trophies that demonstrate how successful we are. They are entrusted to us so that we can serve others, provide for those God has placed in our care, practice generosity, and participate in His purposes. That perspective changes the questions we ask. Instead of asking, “How much more can I accumulate?” we begin asking, “How much do I actually need?” and “How might God want me to use the rest?” Rasmussen often encourages families to consider three questions: How much do I need?  How much do my children need?  What might God want me to do with the rest? Scripture doesn't give us a universal percentage for determining how much lifestyle is enough. That requires prayer, wisdom, and discernment—and for married couples, a willingness to seek the Lord together. The starting point is simple: seek God first. Know Your Financial Finish Line One of the dangers of comparison is that there is always someone with more. Without a financial finish line, “enough” continually moves farther away. A larger paycheck creates room for a larger house. A growing portfolio creates another wealth target. Greater success creates expectations for an even more expensive lifestyle. Defining “enough” can interrupt that cycle. A finish line isn't about creating an arbitrary limit or feeling guilty for enjoying God's provision. It is about intentionally deciding what level of resources is sufficient for your needs so that additional wealth can increasingly be directed toward generosity and other God-honoring purposes. It moves us from constantly asking, “What else can I get?” toward asking, “What has God entrusted to me, and what is it for?” Watch for Identity Drift One warning sign that comparison is taking hold is when possessions and accomplishments increasingly become part of how we describe ourselves. Our conversations begin revolving around the new car, lake house, vacation, clothes, investment returns, or latest purchase. None of those things are necessarily wrong. But they can become warning signs when possessions begin defining our identity. The Christian's identity is ultimately found in Christ—not in what we earn, own, accomplish, or accumulate. That foundation becomes especially important in a culture where social media gives us a constant window into what everyone else appears to have. Don't Copy Someone Else's Financial Plan Comparison can also shape the way we invest. Learning from others can certainly be wise. But blindly copying someone else's portfolio can be dangerous because their financial plan may have little to do with yours. Rasmussen compares it to taking a road trip. If your destination is New York but you follow someone driving west simply because they appear confident, you won't arrive where you intended. The same is true financially. Another investor may have a different time horizon, risk tolerance, income, family situation, or financial objective. What is appropriate for them may create unnecessary risk or anxiety for you. A good investment strategy should flow from your goals and convictions—not from whatever someone else happens to be doing. Purpose should determine the path. Let Gratitude Replace Comparison One of the most powerful ways to resist comparison is gratitude. When we intentionally recognize God's provision, our attention shifts from what we lack to what He has already supplied. That might mean keeping a gratitude journal, regularly thanking God for specific blessings, or simply creating more space for prayer. Rasmussen points to Psalm 139:23–24 as a helpful prayer: “Search me, O God, and know my heart! Try me and know my thoughts! And see if there be any grievous way in me, and lead me in the way everlasting!” That prayer invites God to expose the desires, fears, and anxieties that may be quietly pushing us toward comparison. Sometimes we need to pay attention to the tension we feel when someone else succeeds, purchases something new, or appears to be further ahead. Those reactions can reveal something about our own hearts. Give Yourself Permission to Use Money Purposefully Financial wisdom doesn't always mean saying no. Sometimes faithful stewardship means giving generously. Other times, it might mean taking the family vacation you have repeatedly postponed or spending money on something meaningful that fits within your financial plan. Rasmussen has seen families experience a genuine sense of relief when they realize that their financial plan gives them permission to act. Good planning can help answer the question, “Can we afford this?” But biblical financial planning should go deeper by asking, “Does this fit the purposes God has given us?” When the answer is yes, wise stewardship can sometimes mean confidently moving forward rather than endlessly accumulating out of fear. A Practical Step for This Week Start with prayer. Spend time with Psalm 139:23–24 and invite God to search your heart. Ask Him to reveal where comparison, fear, pride, or discontentment may be shaping your financial decisions. If you're married, consider having an honest conversation with your spouse. You might also ask a trusted friend or advisor a difficult but helpful question: What do you see in my life that I may be too close to see myself? Wise accountability can help expose patterns we overlook. And when fear of missing out begins creeping in, remember that you do not have to follow someone else's path. Their financial life is not your financial life. Seek God first and faithfully follow the purposes He has given you. The Cure for Comparison Ultimately, the comparison trap is about far more than money. It is an issue of the heart. The cure isn't accumulating enough to finally feel successful. There will always be another benchmark, another purchase, or another person who seems further ahead. Freedom begins when we remember who we are in Christ and recognize that everything we have belongs to God. When our identity is secure and our purpose is clear, money no longer needs to measure our success. It becomes something far better: a tool we can faithfully steward for God's purposes. On Today's Program, Rob Answers Listener Questions: I've heard you recommend a company for reverse mortgages, but I never caught the name. Which company do you suggest listeners contact? I'm retired and still have a 401(k) with my former employer. I thought RMDs started at age 70½, but I've also heard age 73. What age applies to me now? If I use Qualified Charitable Distributions (QCD's) for a few years, can I later stop and go back to receiving those withdrawals myself? Resources Mentioned: Faithful Steward: FaithFi's Quarterly Magazine (Become a FaithFi Partner) Pandowealth Movement Mortgage FaithFi Field Guide: How Much Money is Enough?  Our Ultimate Treasure: A 21-Day Journey to Faithful Stewardship by Rob West Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor® (CKA) FaithFi App Remember, you can call in to ask your questions every weekday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God's resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

When you're moving into retirement, you're most likely to be starting to ask yourself which investment accounts you should start drawing from first. There's really no universal answer—retirement withdrawal strategies are deeply personal and situation-dependent. But understanding the implications of each account type and the factors that influence withdrawal order can have a massive impact on your tax burden and the longevity of your assets.    You will want to hear this episode if you are interested in... [00:00] Retirement withdrawal strategy options [06:37] Roth IRA and taxable accounts [07:47] Tax implications for investment gains [14:12] Roth IRA conversion strategy [16:17] Real-life retirement income strategies [19:36] Importance of a withdrawal strategy   Understanding the Account Types and Their Tax Impact   The foundation of your strategic withdrawal plan begins with understanding how each investment account is taxed:   1. Pre-tax Retirement Accounts These include traditional IRAs and 401(k)s, SEP IRAs, and similar plans. Contributions offer a tax deduction, and growth is tax-deferred, but withdrawals are taxed as ordinary income. These accounts are eventually subject to required minimum distributions (RMDs), currently beginning at age 73 or 75, depending on your birth year. Withdrawals here not only increase your reported income but can also impact Medicare premiums and Social Security taxation.   2. Roth Accounts Roth IRAs and Roth 401(k)s are funded with after-tax contributions. Qualified withdrawals are tax-free and—if the original contributor owns the account, not subject to RMDs in your lifetime. This makes Roth accounts especially valuable for flexible, later-stage withdrawals.   3. Taxable Brokerage Accounts These are standard investment accounts not designated for retirement. Withdrawals of principal do not create taxable events; only realized capital gains, dividends, and interest are reported for taxes. One major benefit: capital gains rates can be lower than ordinary income rates and may even reach 0% for some filers. Withdrawals can be easy to manage for opportunistic or requirement-driven needs.   Questions to Consider with Personalized Withdrawal Planning Several personal factors play into the best withdrawal order: Are you retiring before 65 and in need of Affordable Care Act (ACA) health insurance? Do you want to minimize future RMDs or leave assets to heirs? When will you begin Social Security or receive pension income? What is your preferred tax bracket and desired lifestyle flexibility?   These questions should be revisited regularly, as changes in tax law, health, or legacy wishes can affect your strategy.   Real-World Withdrawal Scenarios Coordinating Withdrawals for ACA Subsidies Jonathan retires at 57, pre-Medicare, and must carefully manage his modified adjusted gross income (MAGI) to retain ACA health insurance subsidies. My suggested plan is to combine modest 401(k) withdrawals, reportable dividends, and money market interest to stay below the MAGI threshold. Additional cash needs are met from accounts, like the money market, which don't affect taxable income. This keeps his subsidy and aligns with income limits, demonstrating the need for multi-account coordination.   Reducing Future RMDs and Leaving a Legacy Walter and Amy, 62, want to avoid burdening their heirs with high-tax inheritance on pre-tax accounts. Instead of focusing solely on paying the least tax today, they prioritize Roth conversions while Social Security is delayed, taking advantage of lower brackets now to transfer wealth into tax-free vehicles. Over several years, they could convert hundreds of thousands into Roth IRAs, significantly reducing future RMDs while maximizing wealth transfer.   Minimizing Tax on Social Security Christian, 68, blends Social Security with distributions from non-taxable sources like his money market to avoid triggering federal taxes on his Social Security. Careful planning allows him to either keep Social Security tax-free or, with limited IRA withdrawals, incur only minimal tax.   The Importance of Ongoing Review and Professional Advice Your withdrawal strategy is not a "set-and-forget" plan. Tax laws, account balances, and individual goals will change over time. I suggest annual reviews and, ideally, working with a specialized financial advisor to continually adjust the plan for optimal tax efficiency and income sustainability. A thoughtful approach, tailored to your personal circumstances and updated regularly, will help you balance tax efficiency, income needs, and legacy goals.    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

Most people believe with no job their tax bill will go down in retirement. That is not always true. The question is, what can you do about it? 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.

Jim and Chris discuss listener emails on Social Security spousal benefits, a listener PSA on HSA tax strategies and treasuries, and inherited IRA RMD rules for minor beneficiaries. (9:00) A listener asks about qualifying for spousal benefits after a lengthy separation, since both spouses are now retired but remain legally married. (28:15) The guys share a listener PSA on tax strategies involving harvesting HSA-eligible expenses, including Medicare B and D premiums, as a tax-free funding source, and on laddering treasury bills through Fidelity or Schwab instead of TreasuryDirect. (40:15) George follows up on inherited IRA rules for minor child beneficiaries, asking whether an eligible designated beneficiary can elect the 10-year rule instead of taking the stretch, which requires RMDs. The post Spousal Benefits, HSA Tax Strategies PSA, Inherited IRAs: Q&A #2632 appeared first on The Retirement and IRA Show.

Chargebacks were built to protect consumers from stolen cards and crooked merchants. Now they're increasingly used when a subscription surprises someone, a restaurant disappoints, or buyer's remorse sets in. Don and Tom sort real fraud from “friendly fraud”—and explain why the first call should usually go to the merchant, not the bank.They also look at confusing statement names, recurring subscriptions, the cost merchants absorb when a dispute lands, and why credit cards generally provide stronger consumer protection than debit cards.Then it's listener-question time: a free-dinner annuity pitch promising 12% to 15%, whether to bunch charitable gifts, dialing a retirement portfolio from 60/40 to 50/50, and using RMD withdrawals to rebalance at Vanguard.0:38 — From 1929 bucket shops to today's prediction markets3:21 — Chargebacks, card fees and “friendly fraud”7:06 — Mystery merchant names and subscription confusion8:25 — Bad service, buyer's remorse and the fraud line11:10 — When a chargeback is legitimate13:28 — Why merchants lose most disputes16:59 — Listener questions begin17:30 — The free-dinner annuity pitch22:49 — Should you bunch charitable gifts?24:06 — 60/40 or 50/50 before Social Security?26:06 — RMD withdrawals and Vanguard rebalancingQuestions? Comments? Click!

Jackson makes his return on air this week with Drew as they talk to callers and answer questions regarding mobile home tax implications, ETF vs. investment trust, RMDs, totalization agreements, and more! Download and enjoy! 

Check out Mindy on the Bigger Pockets Money podcast This episode brought to you by Abound Wealth. Take the relationship to the next level and become a client: https://moneyguy.com/become-a-client/ Building wealth is only half the battle—keeping it, enjoying it, and avoiding costly financial blind spots is where the real challenge begins. In this special Making a Millionaire collaboration, Brian and Bo sit down with Mindy from BiggerPockets Money and her husband Karl to analyze a nearly $10 million portfolio, uncovering hidden risks like concentration risk, margin loans, Roth conversion opportunities, tax planning, required minimum distributions (RMDs), retirement withdrawal strategies, liquidity planning, and the Achiever's Trap. Whether you're pursuing financial independence, FIRE, retirement planning, or simply want to build lasting wealth through investing and smart tax strategies, this conversation offers practical insights for high-income earners, retirees, and anyone serious about optimizing their financial future without sacrificing the life they've worked so hard to build. ⁠⁠⁠⁠Jump start your journey with our FREE financial resources⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Reach your goals faster with our products⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Take the relationship to the next level: become a client⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Subscribe on YouTube for early access and go beyond the podcast⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Connect with us on social media for more content⁠⁠⁠⁠⁠⁠⁠ Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Individual retirement accounts (IRAs) are one of the most widely used retirement savings vehicles, yet many investors are unsure how they work. Mark Riepe breaks down IRA basics, including traditional IRAs, Roth IRAs, contribution limits, tax advantages, withdrawal rules, and eligibility requirements. He also explains key differences between IRA types and offers a framework for evaluating which option may fit your retirement-planning goals. Whether you're opening your first IRA or comparing retirement account options, this episode provides a practical guide to understanding the fundamentals. After you listen: Read the article "What Is an IRA? Traditional, Roth, and Other Types of IRAs." Learn more about IRAs and what to consider for your retirement planning. Financial Decoder is an original podcast from Charles Schwab.  If you enjoy the show, please leave us a rating or review on Apple Podcasts. Reach out to Mark on X @MarkRiepe with your thoughts on the show. Follow Financial Decoder on Spotify to comment on episodes. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Roth IRA conversions require a 5-year holding period before earnings can be withdrawn tax free and subsequent conversions will require their own 5-year holding period. In addition, earnings distributions prior to age 59 1/2 are subject to an early withdrawal penalty. Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty, sometimes referred to as an additional income tax.  You generally have to start taking required minimum distributions (RMDs) no later than April 1st of the year following the calendar year you reach age 73 or retire, whichever is later. If you were born on or before June 30, 1949, the required minimum distribution age is 70½. If you were born after June 30, 1949 and before January 1, 1951, the required minimum distribution age is 72. If you own 5% or more of the business sponsoring the Plan, other provisions may apply. Refer to your Plan document for details. However, you are not required to take a minimum distribution from your Roth accounts during your lifetime. A rollover of retirement plan assets to an IRA is not your only option. Carefully consider all of your available options, which may include but not be limited to keeping your assets in your former employer's plan; rolling over assets to a new employer's plan; or taking a cash distribution (taxes and possible withdrawal penalties may apply). Prior to a decision, be sure to understand the benefits and limitations of your available options and consider factors such as differences in investment-related expenses, plan or account fees, available investment options, distribution options, legal and creditor protections, the availability of loan provisions, tax treatment, and other concerns specific to your individual circumstances. Investing involves risk, including loss of principal. ​Past performance is no guarantee of future results. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. 0826-RTYC Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Aug 3, 2026 – Missing a single deadline can trigger a 25% tax penalty, and most retirees do not realize how many ways an RMD can quietly reshape their finances. Brendan McMurtrie sits down with Ryan Puplava to break down required minimum distributions under SECURE Act 2.0...

Can 21 funds deliver useful global diversification—or mostly camouflage overlap, cost, and complexity? Don opens the Friday Q&A by giving one listener a sharper set of questions to take back to an advisor, including what each fund actually contributes and what would be lost by owning fewer.The questions then move from portfolio architecture to retirement reality. A listener learns why RMDs and Roth conversions should not wag the retirement dog, and another faces a sudden $15,000-a-month skilled-nursing bill that changes the investment plan for good reasons—not because of market timing.There's also a timely Roth-conversion opportunity for a young worker headed back to school, a warning about state charges on multi-year guaranteed annuities, and a sober return estimate for a balanced portfolio. Add one lovingly brutal critique of Competitive Don, and the listener mailbag is officially doing its job.00:39 Welcome to Friday Q&A02:50 Are 21 funds too many?05:40 Don't let RMDs wag the retirement dog09:13 Investing for a $15,000-a-month care bill12:44 A low-income-year Roth conversion15:30 Competitive Don gets reviewed18:04 State charges on multi-year guaranteed annuities19:05 What return should a 60/40 portfolio expect?Questions? Comments? Click!

Book a call: https://remnantfinance.com/calendarEmail us at info@remnantfinance.com or visit https://remnantfinance.com for more informationFOLLOW REMNANT FINANCEYoutube: @RemnantFinance (https://www.youtube.com/@RemnantFinance)Facebook: @remnantfinance (https://www.facebook.com/profile.php?id=61560694316588)Twitter: @remnantfinance (https://x.com/remnantfinance)TikTok: @RemnantFinanceDon't forget to hit LIKE and SUBSCRIBEWould you raise your children with the rules you accept for your 401(k)? Lock it away until 59 and a half. Pay a penalty to touch it early. Hand it to a manager you will never meet. Check in decades later and hope it worked out. Applied to a retirement account, that is just the default. Applied to a child, it is unthinkable. Before he takes it apart, Hans gives the 401(k) an honest steel man: the match really is part of your total compensation, the tax treatment is real, and for someone low on both financial literacy and discipline, forced savings may be the single best thing that ever happens to their balance sheet.Chapters:00:00 – Opening segment02:55 – The premise: would you raise a child like a 401(k)?06:45 – Why enter an industry this saturated11:30 – Defensive coordinator, offensive coordinator, head coach14:20 – Cash value as the buffer in a down market16:20 – Decumulation, Social Security timing, RMDs, and beneficiaries20:40 – The honest steel man for the 401(k)25:50 – Roth versus traditional and paying tax on the seed26:40 – The tax code as a map around income27:50 – Forced savings and where the 401(k) genuinely shines31:25 – Will 70% of your income really be enough?36:20 – The box, the penalty, and the friction that works both ways37:20 – Would you outsource raising your children?47:20 – Most of your time with your kids happens before they turn 1848:25 – Which rules will still exist when you turn 60?50:35 – Buy and hope dressed up as buy and hold54:15 – Net worth versus cash flow and the $3 million mansion57:00 – Contract wealth versus statement wealth59:15 – Closing segmentKey Takeaways:The match is not free money in the way LinkedIn tells you it is. It is a piece of the economic value your employer already assigned to your labor, and you only unlock it by parting with your own capital first.The 401(k) works, and it shines for one profile: low financial literacy paired with low discipline. If money leaves your hands regardless of intent, automatic enrollment and a penalty for early access may be the only thing standing between you and nothing. Whether you choose Roth or traditional comes down to a bet about the future. The conventional plan assumes you will need roughly 70% of your current income and land in a lower bracket. Locking capital away for 30 years is also a bet on political stability. The access ages have been changed before, they will be changed again, and $40 trillion sitting in qualified plans is a resource the system is already leveraging..Money is not math. Behavior is the largest determinant of any outcome, more than knowledge and more than which strategy you choose. Protect, save, grow in that order. Your capital feeds the people you love, so stop treating it like a stranger's science project.

An individual retirement account, or IRA, can be a valuable tool for long-term saving. But like any financial tool, it needs to be understood and used wisely. Proverbs 18:15 says, “An intelligent heart acquires knowledge, and the ear of the wise seeks knowledge.” That's good wisdom for every area of life, including how we manage money. As stewards, we don't want to make financial decisions simply because an account is popular or because someone told us we ought to have one. We want to understand the tools available to us and use them with wisdom, patience, and trust in the Lord. So, how well do you really know your IRA? Let's walk through a few common misconceptions with a simple true-or-false quiz. True or false: You can contribute to an IRA even if you already have a retirement plan through your employer. True. You can contribute to a traditional or Roth IRA even if you also participate in a 401(k), 403(b), or another workplace retirement plan. In 2026, the total amount you can contribute across all your traditional and Roth IRAs combined is $7,500, or $8,600 if you're age 50 or older. You'll need enough taxable compensation to support your contribution, and income limits may affect whether you can deduct a traditional IRA contribution or contribute directly to a Roth IRA. The important point is that having access to a workplace retirement plan does not necessarily prevent you from contributing to an IRA. These accounts can often work together as part of a thoughtful long-term strategy. True or false: An IRA is an account that holds investments, not an investment by itself. True. Think of an IRA as a container. The account itself provides certain tax advantages, but what happens to the money depends largely on the investments you choose to hold inside it. Depending on your IRA custodian, those investments might include mutual funds, exchange-traded funds, stocks, bonds, money market funds, or other investment options. That distinction matters. Sometimes someone will say, “I bought an IRA,” when what they really mean is that they opened an IRA and then invested the money inside it. The IRA is the account. The investments within that account determine how the money is put to work. There are also limits on what an IRA can hold. IRA funds generally cannot be invested in life insurance or collectibles. Certain precious metals may qualify if they meet specific IRS requirements and are held properly. Self-directed IRAs can provide access to more specialized investments, but greater flexibility can also bring greater complexity and risk. As with any financial decision, it's important to understand what you own and why you own it. True or false: Your will determines who receives your IRA, regardless of the beneficiary listed on the account. False. An IRA allows you to name one or more beneficiaries who will receive the account when you die. Those assets generally transfer directly to the beneficiaries outside of probate. In most cases, the beneficiary designation on the account takes precedence over what your will says. That's why beneficiary designations shouldn't be treated as something you set once and forget. Review them periodically, especially after major life changes such as marriage, divorce, the death of a spouse, or the birth or adoption of a child. Estate planning is about more than documents. It's about making your intentions clear and preparing well for those who may one day steward what you leave behind. True or false: Traditional IRAs are subject to required minimum distributions. True. Traditional IRAs are generally subject to required minimum distributions, commonly called RMDs. For those subject to the current age-73 rule, the first distribution generally must be taken by April 1 of the year following the year you turn 73. After that, annual RMDs are typically due by December 31. Failing to withdraw the required amount can result in a significant tax penalty, though that penalty may be reduced when the mistake is corrected promptly. Roth IRAs work differently. The original owner generally does not have to take required minimum distributions during his or her lifetime. Because contributions are made with after-tax dollars, qualified withdrawals can also be tax-free. Those differences are important when deciding how various retirement accounts may fit into your broader financial plan. Retirement Accounts Are Tools, Not Our Security So, how did you do on the quiz? The goal isn't to become a retirement expert overnight. It's to keep growing in wisdom. An IRA can be a useful tool for preparing for the future, but no retirement account can provide ultimate security. Our hope is not in an IRA, a pension, a 401(k), or the number on a balance sheet. Our hope is in Christ. That changes the deeper question we ask about retirement planning. Instead of simply asking, “How much can I accumulate?” we can also ask, “Am I using what God has entrusted to me in a way that reflects faithfulness, generosity, and eternal priorities?” Retirement accounts are simply tools in the hands of a steward. Understanding how they work helps us use them wisely—but remembering whom they ultimately belong to helps us use them faithfully. On Today's Program, Rob Answers Listener Questions: I'm 68, and my husband is 71. We're retired with about $500,000 invested, a $100,000 mortgage at 2.75%, and a $30,000 car loan at 4.99%. We wanted to pay them off from our investments, but our advisor says the tax bill would be about $37,000 and recommends using a HELOC instead, then making one annual payment from our investments. Does that strategy make sense? He also recommends a trust, but we already have wills and our final arrangements paid for. Why might we still need one? My grandson is moving to Bali for two years for work. Should he send his earnings back to the U.S., or open a local bank account and keep the money there? I'm 61 and hope to retire at 63. About 80% of our retirement savings is pre-tax, and 20% is Roth. If we withdraw from pre-tax accounts first, our income could exceed the ACA subsidy limits. Should we consider Roth conversions or use Roth withdrawals earlier to better manage our MAGI and healthcare costs? Resources Mentioned: Faithful Steward: FaithFi's Quarterly Magazine (Become a FaithFi Partner) FaithFi Field Guide: How Much Money is Enough?  Our Ultimate Treasure: A 21-Day Journey to Faithful Stewardship by Rob West Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor® (CKA) FaithFi App Remember, you can call in to ask your questions every weekday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God's resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, I take you through the three most common mistakes people make in retirement—and how you can avoid them to set yourself up for long-term success. From overspending in the early days of retirement to overlooking crucial tax strategies and entering retirement without a written income plan, I discuss why these pitfalls happen and what you can do differently. Later in the episode, it's rapid fire as I answer your listener questions on topics like Social Security benefits, Roth conversions, pension payout choices, and how to invest your retirement accounts once you leave the working world. Whether you're approaching retirement or already there, this episode is packed with practical advice and actionable tips to help you retire strong and confident.   You will want to hear this episode if you are interested in... [06:18] Tax implications on retirement spending [15:22] Importance of tax planning in retirement [18:37] Planning retirement income and expenses [25:34] Understanding Social Security benefits [30:50] Withdrawing and taxing retirement funds [34:34] Inheriting Roth IRAs and conversions [42:12] Evaluating pension options  [44:47] Withdrawal strategy in retirement [48:19] Considerations for IRA and annuity withdrawals Mistake #1: Underestimating Your Retirement Spending "Every day is a Saturday" is a phrase that sounds pleasantly carefree, but it's at the core of the number one retirement mistake: overspending. Without the Monday-to-Friday routine of work to constrain your weekdays, retirees often find that daily life has more opportunities—sometimes temptations—for spending. Whether it's travel, home improvement, treating family, or even increased online shopping, expenditures can skyrocket in those first years. Blowing past your planned budget doesn't just cause headaches; it puts long-term income strategies at risk. Every unexpected withdrawal may drive up your taxes, disrupt your investment plan, and hinder the compounding potential of your retirement savings. Those first five years are absolutely crucial—financial missteps can have long-ranging implications decades down the road.   Mistake #2: Ignoring Retirement Taxes A common misbelief is that retirement brings an end to complicated tax matters, in fact, taxes remain a key player in your financial picture. Many retirees are shocked to learn that their Social Security benefits may be taxed, especially as thresholds haven't kept pace with inflation. Tax mismanagement can also trigger costly Medicare surcharges or force higher withdrawals from retirement accounts.   Smart, proactive tax planning can save tens of thousands over your lifetime. Key strategies include: Understanding Social Security's provisional income rules and the impact on benefit taxation. Anticipating required minimum distributions (RMDs) at age 75 and their tax consequences. Considering Roth conversions to manage future tax liabilities 16:08. Leveraging charitable giving strategies, such as qualified charitable distributions or donor-advised funds, to optimize both your giving and your tax bill.   Mistake #3: Failing to Create an Income Plan Too many retirees believe they'll simply figure it out as they go, drawing Social Security and taking withdrawals ad hoc. This hands-off approach is a mistake, the retirees who fare best are those with a written income plan. They know where their money is coming from, how taxes will be handled, which accounts to tap (and when), and how they'll adapt as life circumstances change. Retirement should be enjoyable and fulfilling—free of constant financial worry. Avoiding these three key mistakes lays the foundation for long-term success and peace of mind. Focus on realistic budgeting, proactive tax planning, and a clearly defined income strategy.    Resources & People Mentioned 3 Steps to Retirement Planning   Connect With Gregg Gonzalez Email at: Gregg.gonzalez@lpl.com Podcast: https://RetireStrongFA.com/Podcast Website: https://RetireStrongFA.com/ Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Provisional Taxes: What They Are and How They Work  Subscribe to Retirement Made Easy On Apple Podcasts, Spotify, Google Podcasts

Roth conversions can provide meaningful tax-planning flexibility, but they are not automatically appropriate for every investor. The decision depends on current income, expected future tax rates, required minimum distributions, Medicare considerations, retirement cash flow, and the intended use of inherited assets. Derek Gabrielsen, CRPC® — Senior Wealth Advisor, and Tony Zabiegala, CRPC® — Senior Wealth Advisor, examine the growing role of Roth accounts in retirement planning. Their conversation covers the potential conversion window after leaving the workforce, Roth and traditional workplace contributions, required distributions, catch-up contribution provisions, unused 529 assets, and the differences between leaving heirs a traditional retirement account and a Roth account. The episode emphasizes that Roth planning should be coordinated with an investor's broader tax, income, and estate strategy. The goal is not simply to move more money into a Roth. It is to determine when paying taxes today may create a better long-term result.

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

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

Schedule a Free Financial Assessment with an experienced professional:https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=free-assessment&utm_content=ymyw-pod-ep591-description-free-assessmentB and S in Maryland are in their mid-40s with $425,000 and a couple of rental properties. Can they retire early at 62? Vee in Oregon came to the US as a refugee with nothing and built a three and three-quarter million dollar portfolio from the ground up. Is his Roth conversion plan solid? And finally, Chandler and Monica in Texas are sitting on $1.4 million and hope they can walk away from work in 3 years. Will Roth conversions keep the tax man from taking a giant bite on their way out? That's all today on Your Money, Your Wealth® podcast 591 with Joe Anderson, CFP® and Big Al Clopine, CPA.Free Financial Resources in This Episode: https://bit.ly/ymyw-591 (full show notes & episode transcript)Withdrawal Strategy Guide - free downloadhttps://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep591-description-whitepaperThe Number One Spending Mistake Ruining Retirements - YMYW TVhttps://purefinancial.com/ymyw/episodes/number-one-spending-mistake-ruining-retirements/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep591-description-tv-s12e01Financial Blueprint (free, self-guided):https://bit.ly/YMYWblueprintCREQUEST your Retirement Spitball Analysis:https://bit.ly/YMYWaskCDOWNLOAD more free guides:https://bit.ly/YMYWguidesCREAD financial blogs:https://bit.ly/YMYWblogCWATCH educational videos:https://bit.ly/YMYWvidsCSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWnewsletterCConnect 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 Podcast00:57 - Half a Million and Rental Properties in Our Mid-40s. Can We Retire Early? (B & S, Westminster, MD)12:48 - Refugee to $3.75M: Is My Roth Conversion Plan Actually Solid? (Vee, OR)25:55 - Can Friends with $1.4M and a Roth Conversion Puzzle Retire in 3 Years? (Chandler & Monica, TX)33:05 - Outro: Next Week on YMYW Podcast

If you've been anywhere close to a retirement podcast over the last 10-20 years, you've heard of the 4% rule. And like many people, you might have questions about it. We're going to hear about it directly from the horse's mouth as we talk to Bill Bengen, who first articulated the 4% withdrawal rate as a rule of thumb for withdrawal rates from retirement accounts. The 4% rule is not a rigid rule but a guideline. Its application requires careful consideration of individual factors, including health, life expectancy, and specific financial circumstances. Bengen encourages retirees to tailor their withdrawal strategies based on their unique situations. Our discussion also explored required minimum distributions (RMDs), which may necessitate higher withdrawals in later years of retirement. However, Bengen suggests that for most people, RMDs would not exceed the calculated withdrawal rates until a very advanced age, making the two compatible. Core Points: The 4% rule, initially a worst-case scenario calculation, suggests a 4% annual withdrawal from retirement savings. This has since been refined Research indicates a more generous 4.7% withdrawal rate is now possible due to portfolio diversification and lower investment costs Higher withdrawal rates might be feasible (5-5.5%), depending on market valuations and inflation Early retirement withdrawal timing significantly impacts long-term success Consider individual circumstances, market conditions, and inflation when adjusting withdrawal strategies   Resource: Bill Bengen's book, "A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More" https://www.bengenfs.com/order-my-book   Connect with Benjamin Brandt: Subscribe to the This Week in Retirement: http://thisweekinretirement.com Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Work with Benjamin: https://retirementstartstoday.com/start Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement Follow Retirement Starts Today in:Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart

Jim and Chris discuss the new PROMISE Act’s potential impact on Social Security before covering listener emails on pension RMD timing, interest taxation versus capital gains indexing, and portfolio strategy around Social Security survivor benefits and multi-account allocation. (5:30) — Chris discusses the new PROMISE Act and how it may impact Social Security. (17:15) — George asks how long he can delay pension distributions without violating RMD rules, given his 73rd birthday falls in February 2027. (29:45) — A listener asks whether interest income should be inflation-indexed the same way some propose indexing capital gains for wealthier taxpayers. (43:00) — The guys field a two-part question on how a surviving spouse’s Social Security loss factors into MDF portfolio and annuity design, and how to allocate a portfolio strategy across different account types. The post Social Security, Pension RMDs, Interest Taxation, Portfolio Strategy: Q&A #2629 appeared first on The Retirement and IRA Show.

Our guests on the podcast today are Cody Garrett and Sean Mullaney. They're both advice-only financial planners, and they're the co-authors of a new book called Tax Planning To and Through Early Retirement. Cody is a certified financial planner and the founder of Measure Twice Money, where he helps DIY investors make informed decisions aligned with their values. He also leads Measure Twice Planners, which is an educational community for financial planners. Sean Mullaney is a certified public accountant and head of Mullaney Financial & Tax. He also writes the blog, TheFITaxGuy.com, which is focused on the intersection between financial independence and taxes. Episode Highlights 00:00:00 Introduction 00:01:27 Defining Early Retirement, the 4% Rule, and Withdrawal Strategies 00:11:03 Fear-Based Tax Narratives and Retirement Calculators 00:15:10 Rethinking Future Tax Rate Assumptions 00:23:14 Retirement Savings Tax Trade-Offs 00:30:08 Taxable Accounts in Early Retirement 00:32:29 Backdoor Roth IRAs, Asset Allocation, and Sequence Risk 00:44:03 RMDs, Roth Conversions, and Retirement Planning Tools More From Morningstar Bill Bengen: ‘Inflation Is the Greatest Enemy of Retirees' A Tax-Smart Plan for In-Retirement Withdrawals in 3 Steps Morningstar's Tax-Planning and IRA Resources for 2026 If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine's weekly newsletter, Improving Your Finances. If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.