Retirement Planning with Fexingo: 401k, IRA, and Saving for Your Future

In this episode, Lucas and Luna break down the Backdoor Roth IRA strategy for high-income earners in 2026. They explain the IRS income limits for direct Roth IRA contributions — $161,000 for single filers and $240,000 for married couples filing jointly — and how the backdoor method lets you legally convert a nondeductible traditional IRA to a Roth IRA regardless of income. They walk through the step-by-step process, highlight the pro-rata rule trap if you have existing pretax IRA assets, and compare pros and cons versus a Roth 401(k). If you earn too much to contribute to a Roth IRA directly, this episode gives you the playbook to get tax-free growth anyway.

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In this episode, Lucas and Luna explore a little-known retirement savings tool for retirees who earn side income: the solo 401k. They break down how this plan works, why it can be more powerful than a SEP IRA for self-employed retirees, and the key contribution limits for 2026. They walk through a concrete example of a retired consultant earning $40,000 in freelance income who can defer up to $23,000 plus a 25% employer contribution, all while still collecting Social Security. The hosts also discuss the deadline for setting up the plan and a common trap: forgetting to file Form 5500-EZ once the account hits $250,000. Perfect for retirees looking to maximize tax-advantaged savings from part-time work or consulting gigs.

#Solo401k #RetirementPlanning #SideIncome #SelfEmployed #Retiree #TaxAdvantagedSavings #SEPIRA #ContributionLimits #2026 #Form5500EZ #FreelanceIncome #Consulting #RothOption #ProfitSharing #FexingoBusiness #BusinessPodcast #Finance #PersonalFinance

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Episode 102 of Retirement Planning with Fexingo explores donor-advised funds (DAFs) as a strategic tool for retirees who want to give to charity while maximizing tax benefits. Lucas and Luna break down how a DAF works, the tax advantages of donating appreciated stock instead of cash, and the rule that lets you bunch multiple years of contributions into one tax year. They walk through a concrete example: a retiree with $50,000 in appreciated shares reducing their taxable income and avoiding capital gains tax. The hosts also compare DAFs to traditional foundations and discuss the annual '50 percent of adjusted gross income' deduction limit. No prior episodes have covered this topic, making it a fresh angle for listeners interested in estate planning and philanthropy in retirement.

#DonorAdvisedFund #CharitableGiving #RetirementPlanning #TaxStrategy #AppreciatedStock #BunchingDonations #Philanthropy #EstatePlanning #CapitalGains #ItemizedDeduction #StandardDeduction #Finance #PersonalFinance #Retirement #FexingoBusiness #BusinessPodcast #LucasAndLuna #TaxEfficient

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Episode 101 of Retirement Planning with Fexingo explores the Qualified Longevity Annuity Contract (QLAC), a little-known IRS-approved annuity that lets retirees defer required minimum distributions (RMDs) on a portion of their retirement savings — up to the lesser of $200,000 or 25% of account balances. Lucas breaks down the mechanics: how a QLAC purchased inside a 401(k) or traditional IRA can delay RMDs until age 85, reducing taxable income in early retirement and potentially lowering Medicare IRMAA surcharges. Luna asks about the trade-offs, including liquidity loss and inflation risk, and the hosts walk through a concrete example for a 72-year-old retiree with a $1 million IRA. They also touch on the SECURE Act 2.0 changes that raised the QLAC premium limit. The episode closes with a look at how QLACs fit into a broader retirement income strategy alongside Social Security and pensions.

#QLAC #LongevityAnnuity #RMD #RequiredMinimumDistribution #IRS #SECUREAct2.0 #RetirementIncome #Annuity #IRA #401k #TaxPlanning #MedicareIRMAA #FexingoBusiness #BusinessPodcast #Finance #RetirementPlanning #FixedAnnuity #DeferralStrategy

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Episode 100 of Retirement Planning with Fexingo explores a powerful but often overlooked strategy for retirees with taxable brokerage accounts: tax-loss harvesting. Lucas and Luna break down how selling losing investments before year-end can offset realized capital gains from rebalancing or selling winners, using a concrete example of a retiree with a $50,000 gain from selling Apple stock and a $30,000 loss in a beaten-down energy ETF. They walk through the wash-sale rule, how to avoid it, and the net tax savings—potentially thousands of dollars. The hosts also discuss how the strategy works in a typical year like 2026, with markets volatile enough to create opportunities. Perfect for retirees who are actively managing their portfolios and want to minimize tax drag. No prior episode has covered tax-loss harvesting specifically for retirees, making this a fresh angle for the 100th episode.

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In this episode of Retirement Planning with Fexingo, Lucas and Luna break down the Roth conversion ladder strategy for early retirees looking to access retirement funds penalty-free before age 59 and a half. They walk through the classic example of a retiree at age 50 with a $500,000 traditional IRA who wants to tap funds at 55 without triggering the 10% early withdrawal penalty. The conversation covers the five-year rule for each conversion, how to manage the initial tax hit, and why converting at a low marginal rate—say 12% for a single filer—can save tens of thousands in taxes over time. Lucas explains the 'five-year clock reset' nuance: every conversion has its own five-year holding period, but the first conversion opens the ladder. Luna asks whether Roth conversions make sense for retirees already in higher tax brackets, and Lucas advises that a ladder is best for those with lean years between retirement and Social Security. They also touch on the recent SECURE Act 2.0 changes that may affect RMD planning for those using this strategy. A practical guide for anyone retiring early and wanting tax-free income.

#RothConversionLadder #EarlyRetirement #TaxFreeIncome #RetirementPlanning #IRA #RothIRA #SECUREAct20 #FiveYearRule #FIRE #TaxStrategy #RetireEarly #PenaltyFreeWithdrawal #TraditionalIRA #TaxBracketManagement #FinancialIndependence #Finance #FexingoBusiness #BusinessPodcast

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Many retirees assume they must wait until age 59 and a half to tap retirement funds without penalty. But the IRS Rule of 55 offers a lesser-known exception: if you leave your job in or after the year you turn 55, you can withdraw from that employer's 401k penalty-free. In this episode, Lucas and Luna unpack how the rule works, who qualifies, and the critical gotchas—including why it does not apply to IRAs, and how the 'separate from service' requirement can trip up part-time workers. They walk through a concrete example: a 56-year-old marketing director who left her firm in June 2026 and now needs bridge income until Social Security kicks in. If you are planning an early exit or facing a layoff in your mid-50s, this strategy could save you thousands in penalties.

#RuleOf55 #401k #EarlyRetirement #RetirementPlanning #IRSPenalty #RetireEarly #BridgeIncome #FexingoBusiness #BusinessPodcast #FinancePodcast #RetirementPodcast #LucasAndLuna #PenaltyFreeWithdrawal #SeparateFromService #Age55 #RetirementStrategy #TaxPlanning #PersonalFinance

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Episode 97 of Retirement Planning with Fexingo dives into the often-overlooked Retirement Saver Credit, a tax credit that can reduce your federal tax bill by up to $1,000 for individuals or $2,000 for couples, simply by contributing to a 401(k) or IRA. Lucas and Luna break down the income limits for 2026, the phaseout thresholds, and why this credit is especially valuable for low- and middle-income savers. They walk through a concrete example: a married couple earning $71,000 who contribute $4,000 to their IRAs, qualifying for a 20% credit worth $800. The hosts also compare it to a deduction (which only reduces taxable income) versus a credit (which reduces tax dollar-for-dollar). They highlight common mistakes, like forgetting to file Form 8880 or assuming the credit is automatic. A must-listen for anyone under the income cap who wants to supercharge their retirement savings with a government match.

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Medicare IRMAA surcharges can quietly eat thousands of dollars per year from retirees' Social Security and savings. In this episode of Retirement Planning with Fexingo, Lucas and Luna break down how IRMAA works in 2026, why a one-time Roth conversion or capital gain can trigger a surprise penalty, and the three-step strategy to manage your modified adjusted gross income (MAGI) two years before Medicare enrollment. Using the specific example of a retired couple with $200,000 in IRA withdrawals and a home sale, they show how a little advance planning can save $5,000 or more annually. If you are approaching 65 or already on Medicare, this episode gives you a concrete game plan to avoid the IRMAA cliff.

#MedicareIRMAA #RetirementPlanning #RothConversion #MAGIManagement #SocialSecurity #HealthcareCosts #Finance #FexingoBusiness #BusinessPodcast #RetireeTaxes #MedicareEnrollment #IRMAAAppeal #CapitalGains #TaxPlanning #WealthManagement #RetirementIncome #FinancialLiteracy #PodcastEpisode

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In Episode 95, Lucas and Luna explore the cash balance pension plan, a hybrid retirement vehicle that combines the predictability of a defined-benefit pension with the portability of a defined-contribution plan. They walk through a concrete example: Dr. Sarah Mitchell, a 52-year-old physician running her own practice, who wants to supercharge her retirement savings beyond the 401(k) limit. Lucas explains how cash balance plans allow high earners to contribute up to $265,000 annually in 2026, far exceeding IRA and 401(k) caps. They discuss the trade-offs: higher administrative costs, the requirement to cover employees, and the IRS nondiscrimination testing. Luna asks whether this strategy works for solo practitioners or only large firms. Lucas shows how a 'solo' cash balance plan paired with a profit-sharing plan can let a self-employed doctor or lawyer defer over $350,000 per year. They also touch on the Pension Protection Act rules and the role of an enrolled actuary. The episode is anchored to the mid-2026 market environment, with Treasury yields around 4.3%, making these plans more attractive. Perfect for late-career professionals looking to 'catch up' aggressively while getting a tax deduction now.

#CashBalancePensionPlan #RetirementPlanning #HighIncomeSavings #DefinedBenefit #PensionPlan #Solo401k #PhysicianRetirement #TaxDeferral #SEPPension #EnrolledActuary #PensionProtectionAct #RetirementCatchUp #SmallBusinessOwner #Finance #FexingoBusiness #BusinessPodcast #RetirementPodcast #LucasAndLuna

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