Wondering in what ways a Roth 403b rules differ from a Roth IRA and how that might affect your retirement plans? Jim and Chris answer a question about early Roth 403b withdrawals from a Washington listener. The guys also tackle a couple more Trust questions from Texas listeners- one regarding using a Trust as a 401k Beneficiary and one about as ...…

What is the Inherited IRA 5 Year Rule and how do you help your beneficiaries avoid it? Jim and Chris have spent some time explaining why they don’t recommend naming a Trust as a beneficiary of an IRA. Now they delve into why they don’t recommend naming your estate as a beneficiary. The post Edu: Inherited IRA 5 Year Rule appeared first on The R ...…

When you rollover your Roth 401k into a Roth IRA is there a way of avoiding the Roth 5 Year Rule? Jim and Chris answer that question from North Carolina listener who currently has a Roth 401k and no Roth IRA. The post Q&A: Avoiding the Roth 5 Year Rule appeared first on The Retirement and IRA Show.

Wondering if you should do a Roth Conversion? In past episodes Jim and Chris have looked at the pros, this week they look into the possible cons of doing a Roth Conversion. The post Edu: Roth Conversion Cons appeared first on The Retirement and IRA Show.

Another week and another round of great listener questions! Jim and Chris address an Indiana listener’s question about using a Trust as a Roth IRA Beneficiary and another listener’s question about the cost basis and capital gains on a stock sale. The guys also answer several listener questions about Social Security Benefits, including a live ca ...…

Peter Scott, Estate Planning Attorney, joins Jim and Chris to further discuss the issues to consider when naming a Trust as an IRA Beneficiaries. This time they explore the operational aspects of Trusts and IRA beneficiaries. The post Edu: Trusts and Naming IRA Beneficiaries (Part 4) appeared first on The Retirement and IRA Show.…

Join Jim and Chris this week as they answer several listener questions regarding HSAs, including utilizing the one-time QHFD. In addition, they answer a listener question on collecting Social Security Survivor Benefits. The post Q&A: HSAs and SS Survivor Benefits appeared first on The Retirement and IRA Show.…

What is the minimum dignity floor and how does it work with the bucketing strategy for retirement planning? What are the factors to consider when planning for your Minimum Dignity Floor and how to cover it? A New Jersey listener’s question prompts Jim and Chris to delve into the details of both what they call the “minimum dignity floor” and buc ...…

Whether you’re 35 or 55 you’re probably thinking about your retirement readiness. Who hasn’t asked “Can I retire yet?” at some point? This week Jim and Chris answer that very question from a Minnesota listener. Jo Madonna, an Enrolled Agent, also joins the guys again to answer more listener questions about minimizing taxes. The post Q&A: Retire ...…

This week Estate Planning Attorney, Peter Scott, rejoins Jim and Chris to further discuss the issues with using a Trust as a beneficiary of an IRA. The guys also delve into their favorite alternatives to simply using a Trust as your beneficiary. The post Edu: Trusts as IRA Beneficiaries, Part 3 appeared first on The Retirement and IRA Show.…

What would Jim and Chris do with their last few years of free cash flow to prepare for retirement? Listen in as they answer that question for a Virginia listener as well as a question from a Montana listener about Roth withdrawal rules. The post Q&A: Preparing for Retirement and Roth Withdrawals appeared first on The Retirement and IRA Show.…

When Jim and Chris discussed using a Trust as an IRA Beneficiary it resulted in a lot of questions (and even some consternation), so they’ve decided to dig even deeper. Tune in to find out more about what makes IRAs different, causing the guys to feel that Trusts and IRAs “go together like oil and water”. The post Edu: Trusts as IRA Beneficiari ...…

Is there a way to avoid paying taxes in retirement? Jim and Chris answer a couple of questions from listeners looking to minimize their taxes in retirement, as well as a California listener’s question about their Disability Benefits and an Ohio listener’s question about Spousal Benefits. The post Q&A: Disability Benefits, Spousal Benefits,Taxes ...…

Is there really such a thing as a safe withdrawal rate? Prompted by an Arizona listener’s question, this week Jim and Chris take a closer look at the Safe Withdrawal Rate strategy for retirement planning. Join them as they go into what it is, how it’s calculated, and (more importantly) the pros and cons of the method. The post Edu: Safe Withdra ...…

Does a Deferred-Income Annuity (DIA) held in a Roth accomplish the same thing as a QLAC? Join Jim and Chris as they answer listener questions, including this one from Indiana. More questions addressed this week include Roth Conversion concerns from a New York listener and a couple Social Security Benefits queries from Arizona and Tennessee list ...…

Jim and Chris go into the nitty-gritty details of 60-day Rollovers. They discuss the do’s, the don’ts, and the penalties if you do a don’t. The post Edu: 60-day Rollovers appeared first on The Retirement and IRA Show.

This week Jim and Chris answer questions from listeners in California and New Jersey about Social Security Benefits; including their effect on Health Savings Account (HSA) contributions, IRMAA adjustments, and whether the government shut down has affected benefit statements. Also, a Wisconsin listener asks how/if the Rule of 55 applies to a Rot ...…

This week Jim and Chris delve into transactions that are prohibited within an IRA, with an emphasis on rules around holding real estate in the IRA. If you need more information about what things to avoid doing (who doesn’t?) and what the consequences and penalties of mistakes may be, tune in! The post Edu: Prohibited IRA Transactions appeared f ...…

Listen in as Jim and Chris respond to a listener’s email where they ask if they should continue to max out their Roth TSP and whether to convert money from their non-deductable IRA. Another listener looks for clarification on his Fixed Annuities’ commencement dates. The post Q&A: Roth TSP and Fixed Annuities appeared first on The Retirement and ...…

Unsure of your options for managing an inheritance? Join Jim and Chris this week as they tackle that question from a Kansas listener. The guys also answer a question from a listener wondering how 401k distributions would be handled if the account was inherited by a non-U.S. citizen, and a question from a Florida listener on spending from “Bucke ...…

One of the biggest errors many investors make is not realizing that their income is too high to contribute to a Roth IRA. This week Jim and Chris explain how to fix excess contributions made to a Roth IRA. Also be sure to tune in through tax season as the guys discuss more tax-related issues in future Wednesday Edu episodes. The post Edu: Fixin ...…

Join the guys as they answer questions from listeners in Indiana and Michigan on using a Revocable Living Trust as a beneficiary. Jim and Chris also respond to two more listener questions on the “bucket” approach to retirement savings. The post Q&A: Living Trust as Beneficiary and Bucketing appeared first on The Retirement and IRA Show.…

Do you have a trust named as a beneficiary, or are considering it? Tune in to Jim and Chris as they cover the naming of a trust as a beneficiary on an IRA, including pros and cons and how to prevent common mistakes. The post Edu: Naming a Trust as a Beneficiary appeared first on The Retirement and IRA Show.…

This week Jim and Chris answer a follow-up question on using a Roth IRA vs a Roth 401k. An Illinois listener wonders if HSA contributions are part the maximum compensation deferral limit. Another listener writes in about using a payable on death (POD) designation on a bank account in order to avoid it going into probate. Jim and Chris also get ...…

Join Jim and Chris as they explain the nuances of Required Minimum Distributions (RMDs), or as they prefer to call them – Required Income Distributions. They look at important details you should know about RMDs, including what to do if you miss one. The post Edu: Required Minimum Distributions appeared first on The Retirement and IRA Show.…

Jim and Chris answer three listeners’ questions. Topics discussed include how business income is affected by the Social Security earnings test, QLAC, and using the 60-day rollover as a Roth conversion strategy. The post Q&A: QLAC, Earnings Test, and 60-Day Rollover for Roth Conversion appeared first on The Retirement and IRA Show.…

Previously when discussing “Bucketing,” Jim and Chris have primarily focused on the “how”. On this podcast, they focus on the “why” and explain the philosophy and justification for the bucketing strategy. The guys also discuss a recent academic study from Barcelona, Spain that questions the viability of bucketing as a retirement planning strate ...…

Jim and Chris answer four more listener questions on this edition of the Retirement and IRA Show – Q&A: They answer a Californian listener’s question about stretch IRA accounts and what happens when the beneficiary dies. They discuss naming a trust as the beneficiary of a life insurance policy for a listener from Virginia. They also answer an I ...…

Jim and Chris discuss how to take advantage of a one-time lifetime election funding your Health Savings Account (HSA) from an IRA. They point out some tips and warnings about this process. This may be a particularly useful topic for listeners trying to get an HSA started. The post EDU: Funding HSAs with IRAs appeared first on The Retirement and ...…

Jim and Chris answer listeners’ questions on multiple topics during this podcast. Are $6000 personal catch-up contributions included in the $56K workplace contribution maximum? A listener in Virginia has a question regarding spousal Social security benefits. Can his spouse collect these SS benefits if she is caring for a granddaughter full time ...…

Are you using a Target Date Fund in your retirement portfolio but aren’t quite sure how they work? Join Jim and Chris as they delve into some of the most common misunderstandings about Target Date Funds. The post Edu: Target Date Funds appeared first on The Retirement and IRA Show.

Join Jim and Chris as they answer questions regarding 401k strategies and working while receiving Social Security. This week a Minnesota listener asks whether they should rollover their 401k with a previous employer and another listener wonders how to get the best tax rate on 401k withdrawals. Also, a Missouri listener ponders self-employment i ...…

In response to a listener email, Jim and Chris begin a discussion on Variable Annuities. This first show on the subject covers a general overview, how they came about, how they work, and what the guys like and dislike about Variable Annuities. Look for future shows where Jim and Chris will delve into more of the nitty-gritty details. The post E ...…

Jim and Chris field some interesting questions this week about the 401k Rule of 55, Social Security, and using 60-day Rollovers for Roth Conversions. The guys answer a listener question on whether transferring a 401k to a new employer will affect the Rule of 55. A California listener wonders how claiming Social Security is affected if the prima ...…

You may have heard of a Stretch IRA, but few people understand what it is and what it is not. Join Jim and Chris this week as they delve into Stretch IRAs. The post Edu: The Stretch IRA appeared first on The Retirement and IRA Show.

The November 21st Edu podcast about using a 60-day Rollover on a Roth Conversion elicited a lot of listener questions. Jim and Chris spend time answering those plus a question from a Florida listener on calculating MAGI to determine if a retiree will have have to pay the Medicare Premium Surcharge. Chris also answers a Georgia listeners questio ...…

While the rules are very complicated for all Inherited IRAs, they are even more complicated for Spousal Inherited IRAs. This is because they get special treatment, so have special rules. Jim and Chris explore in detail the difference between non-spousal and spousal Inherited IRAs this week. The post Edu: Spousal Inherited IRAs appeared first on ...…

Jim and Chris welcome two special guests to help answer questions about Estate Planning, IRA Legal Protections, and Life Insurance. Life Insurance professional, Sean McKinnon, weighs in on a question about Universal Life Insurance. Estate Planning Attorney, Peter Scott, returns to the show to tackle three listener questions. An interesting ques ...…

A California listener’s email got Jim thinking about how Qualified Charitable Distributions (QCDs) can be used to lower the tax burden of some retirees. So, tune in as the guys take an in-depth look at QCDs this week. The post Edu: Qualified Charitable Distributions appeared first on The Retirement and IRA Show.…

A listener from Vermont wonders how and if blended funds could fit into his retirement portfolio. Jim and Chris also tackle more Social Security questions; including helping a listener from Georgia get some clarification on the Social Security Windfall Elimination Provision (WEP), doing some math for another Georgia listener pondering delaying ...…

With recent changes to tax laws, it may be beneficial to get more time to do a Roth Conversion. An unfortunate byproduct of the 2018 tax law change is the inability to do a Roth Recharacterization. This means that a Roth Conversion is final and you must pay all taxes due. However, it can be difficult to know what your tax situation is, in Decem ...…

This week Jim and Chris tackle a couple great listener questions. An Oregan listener asks about budgeting, and saving for, paying taxes in the “bucket” strategy for retirement. Another listener wonders if there is a benefit to converting a percentage of, as opposed to all of, a Roth IRA account. The post Q&A: Roth Conversion Strategies and Budg ...…

Have you wondered how wages from working in retirement might impact your Social Security Benefits? This week Jim and Chris were inspired by several listener questions to take a closer look at how working while collecting Social Security can affect benefits. They will delve into topics including whether your wages could reduce your benefits (thr ...…

This week Jim and Chris discuss a listener’s question about ways of dealing with his State of Kentucky pension now that he’s working for the State of Ohio. The guys also answer a Louisiana listener’s question about Roth Conversions. Four listeners (from Florida, Michigan, Tennessee, and Texas) had Social Security questions this week, including ...…

The Roth 5 Year Rule sounds simple: you can withdraw the earnings from your Roth IRA, tax-free, 5 years after your first contribution. Is it really that simple? Does the rule apply to a Roth 401k? Does a Roth Conversion from your IRA change anything? On this episode Jim and Chris delve into the nuances of the Roth 5 Year Rule to answer those qu ...…

Need some clarification on the 401k “Rule of 55”? Can you contribute to a previous employer’s HSA? Does purchasing a SPIA of DIA with money from your IRA remove the 10% early withdrawal penalty? This week Jim and Chris address these listener questions as well as more Social Security Spousal Benefit questions from listeners in Arizona, Colorado, ...…

Jim and Chris continue their discussion in response to a skeptical listener’s email. They move the focus from how annuities work, to how and why they might or might not work as part of an investment strategy. The post Edu: Annuity Pros and Cons, Part 2 appeared first on The Retirement and IRA Show.

Jim and Chris answer a lot of great questions this weeks. One listener ponders a 401k loan, another from Minnesota wonders if Long-term Care Insurance is still viable. In addition two questions about Social Security Benefits are answered. The first from a Mississippi listener asks about the delaying Social Security Benefits, the second asks abo ...…

Annuities: love them or hate them? In this episode, Jim and Chris respond to a skeptical listener’s email and go in-depth on Annuities. The post Edu: Annuity Pros and Cons appeared first on The Retirement and IRA Show.

Jim is away but the show must go on! Chris and Darcie go in-depth about the do’s and don’ts (and why) of designated beneficiaries. The post Edu: Designated Beneficiaries appeared first on The Retirement and IRA Show.