The Retirement and IRA Show

Jim and Chris discuss listener questions on Social Security family maximum and suspending benefits, a listener PSA on IRMAA premiums, a listener PSA on Medicare premiums, a listener PSA on Social Security claiming strategies, Roth contribution rules, and Roth conversion disadvantages.(4:30) George asks how the combined family maximum benefit works when two retirement records are combined to increase the family limit for auxiliary benefits paid to a spouse and two minor children.(16:00) A listener asks what additional factors should be considered when suspending a Social Security benefit at full retirement age and restarting at 70 after previously claiming early.(30:15) The guys share a PSA in which a listener states that IRMAA is a premium rather than a tax because Medicare enrollment is optional.(37:45) Georgette shares her objections to Chris describing the base Medicare premium as “free” and explains why she feels that is misleading.(44:30) A listener offers a couple of PSAs, first sharing their thoughts on Nokbox, then sharing an article on a Social Security claiming strategy they believe could help people concerned about sequence of returns.(51:00) The guys answer a question about how a 529-to-Roth IRA transfer affects the annual Roth contribution limit when part of the rollover is gains.(56:30) Jim and Chris address what disadvantages exist when choosing a Roth conversion instead of a non-RMD IRA withdrawal when both would be taxable. Show Notes: NokBox Social Security | Readjust your claiming strategy | Fidelity The post Social Security, IRMAA, Medicare, Roth Contribution Rules, Roth Conversions: Q&A #2549 appeared first on The Retirement and IRA Show.

Dive into the world of QLAC 1098-Q forms and discover why they matter more than you think! Learn how this form reports key information like premiums and fair market value. Explore the peculiar rule about reporting stopping at age 85 and the implications for surviving spouses. Jim and Chris discuss how excess annuity payments can help with RMDs under Secure Act 2. Plus, find out how QLACs can play a vital role in self-funding long-term care as they compare it to traditional insurance.

Listeners dive into the intricacies of IRMAA and QLACs. Questions arise about how income fluctuations impact future IRMAA brackets and strategies for offsetting RMDs with QLAC payouts. Ideal candidates for QLACs are discussed, with emphasis on securing a stable income in later life. The hosts explore when and how to purchase QLACs, including key features and timing considerations. Personal insights into annuitization choices add a relatable touch to the financial topics.

Discover the ins and outs of QLACs and how they can play a crucial role in retirement income planning. Learn why these annuities were designed post-2008 crash and their unique rules regarding cash value. Explore the concept of mortality credits and how they enhance payout sizes. Delve into the distinct phases of retirement income and the implications of known end dates. Plus, hear about real-life comparisons of deferred income annuities versus other options, and how Secure Act 2 offers new strategies for managing RMDs.

Jim and Chris discuss listener questions on Social Security spousal benefits, IRMAA’s classification, concerns about buffer-style funds, the growing push toward private investments, and moving from mutual funds to ETFs. (22:30) A listener presents a hypothetical asking whether the repeal of WEP/GPO could allow Georgette to receive a spousal benefit based on her ex-husband’s Federal Employee record.(28:30) Jim and Chris review a listener’s question about when his spouse can file for her spousal Social Security benefit after he submitted his own application.(37:30) The guys address a listener’s challenge to the explanation that IRMAA is an insurance premium rather than a tax.(43:45) George asks about a recent AQR paper evaluating the effectiveness of buffer funds.(1:01:45) A listener wonders whether the growing push toward private investments—such as private equity and private debt—means they should consider using them.(1:10:45) Jim and Chris review a listener’s question on whether long-held mutual funds can be moved into ETFs without triggering large capital gains. The post Social Security, IRMAA, ETFs, Private Investments: Q&A #2547 appeared first on The Retirement and IRA Show.

Explore the intriguing world of Qualified Longevity Annuity Contracts (QLACs) and their role in ensuring a stable retirement income. Discover why these annuities, created post-2008, are vital for protecting against financial risks. Learn about mortality credits and how early investments can lead to substantial returns. The podcast delves into eligibility and the limitations of QLACs, and examines the conflicts that arise for financial advisors. Unpack vital decisions about payouts and benefits that can influence your retirement journey!

Listeners explore important topics around Social Security benefits, including the best time to apply for delayed credits and the implications of the earnings test before full retirement age. A helpful PSA suggests organizing estate planning for ease of access by trusted individuals. Concerns about healthcare and support for non-planner spouses are addressed too. Plus, an intriguing discussion arises over a listener's challenge with direct deposit for an IRA annuity when faced with naming discrepancies in a trust-titled account.

Dive into the pivotal 2026 Social Security changes, including a 2.8% COLA boost that will impact January payments. Discover how the new taxable maximum and earnings test limits affect retirees, along with insights on Medicare Part B premiums and deductibles. Learn about the hold harmless provision and why some may not be protected from increases. Get clarity on IRMAA brackets and how they disproportionately affect surviving spouses. Chris connects it all back to practical planning, making complex topics digestible and relevant.

Listeners dive into maximizing Social Security survivor benefits, particularly for widows with unclaimed spouse benefits. The duo also tackles whether couples should pursue Roth conversions and how much they should convert. Strategies for timing conversions before RMDs and the implications of IRMAA on tax planning are explored. Insights on whether to stop contributing to Roth accounts to cover conversion taxes are discussed, along with the impact of the Net Investment Income Tax. Overall, it's a practical guide for navigating retirement finances.

A listener shares a poignant journey through unexpected medical challenges and relocations, prompting reflections on retirement planning. The episode highlights the importance of preparing an uninvolved spouse for financial management and the need for clear instructions during crises. Discussions include the risks of delayed planning, the impact of healthcare access on retirement choices, and the significance of estate planning. Listeners are urged to prioritize simplicity and guaranteed income to protect their loved ones in the face of life's unpredictability.