Jim, Chris, and guest Paul Neiffer, CPA, continue their discussion on Charitable Remainder Trusts. They also answer listener questions related to CRTs, CRATs and CRUTs.

The post Charitable Remainder Trusts Part 2: EDU #2504 appeared first on The Retirement and IRA Show.

Jim, Chris, and Jake sit down to discuss listener questions relating to contributions, Social Security, 415 limits, and beneficiaries.

PSA: Chris and Jake review several questions from this weeks EDU show relating to 415 limits, new age 60-63 “super” catch-up contributions effective under SECURE 2.0.

(10:30) A listener looks for clarification on his wife’s spousal Social Security benefit.

(13:30) George provides some additional thoughts surrounding 415 limits and maxing out 401k contributions.

(23:00) PSA to clarify the question from last week’s Q&A Show regarding a person who inherited an IRA directly from his mom as a primary beneficiary, and a different IRA from his mother as a successor beneficiary. They dive deeper into the difference between a primary and successor beneficiary when inheriting an IRA.

(51:45) Georgette looks for some additional information on Social Security issues surrounding widowhood.

(1:01:00) A listener wonders what happens when the market is closed on a day that someone passes away and how to value the security on that given day when it’s inherited.

The post Contributions, Social Security, 415 Limits, and Beneficiaries: Q&A #2503 appeared first on The Retirement and IRA Show.

Chris and Jake discuss the new “Super-Catchup” retirement plan contributions, explaining who qualifies and how they work.

The post “Super-Catchup” Retirement Plan Contributions: EDU #2503 appeared first on The Retirement and IRA Show.

Jim and Chris sit down to discuss Social Security, inherited Roth IRAs, an inherited IRA RMD case, and reporting Roth withdrawals.

(12:45) The guys answer a question about earning enough Social Security credits while working overseas and how this impacts Medicare eligibility and spousal benefits.

(22:45) Georgette asks whether taking a Child-in-Care benefit now will allow her to switch to a higher survivor benefit later.

(33:00) A listener wonders if a trust can preserve the tax-free growth of an inherited Roth IRA beyond the 10-year withdrawal rule.

(46:15) Jim and Chris talk about a very confusing inherited IRA RMD case they are working on.

(1:12:00) George seeks advice on reporting Roth IRA withdrawals after a Roth conversion and dealing with AGI changes when filing taxes.

The post Social Security, Inherited Roth IRAs, Inherited IRA RMDs, and Roth Withdrawals: Q&A #2502 appeared first on The Retirement and IRA Show.

In this EDU dialogue show, Jim and Chris are joined by Jake to explore listener questions about Social Security, income annuities, strategies for deploying dollars in retirement, and other Retirement Planning related topics.

Mentioned JP Morgan Article 

The post Retirement Planning Dialogue: EDU #2502 appeared first on The Retirement and IRA Show.

Jim and Chris discuss listener questions relating to Social Security spousal benefits, IRMAA planning, step-up in basis rules, family maximums, IRA beneficiaries, and factoring inheritances into retirement planning.

(12:00) George asks how his wife’s spousal Social Security benefit will be calculated, specifically regarding COLA increases to his PIA and his delayed filing at age 70.

(20:30) A listener inquires about minimizing IRMAA surcharges following Roth conversions by using form SSA-44 to waive the surcharge for consecutive years.

(31:15) In a PSA, Jim and Chris clarify a mistake from a previous episode regarding the IRS definition of fair market value (FMV) for determining the stepped-up basis of inherited stocks.

(38:15) A listener seeks clarification on Social Security family maximum benefits and how spousal and child benefits are calculated when the family’s total benefits change over time.

(43:00) George asks for advice on naming IRA beneficiaries, including per stirpes designations, contingent options, and considerations for blended families and remarriages.

(1:08:30) The guys discuss how to factor potential inheritances into retirement planning, particularly when the timeline and asset usage remain uncertain.

The post Spousal Benefits, IRMAA, Step-Up Basis, Family Maximums, Beneficiaries, and Inheritances: Q&A #2501 appeared first on The Retirement and IRA Show.

The post Developing Confidence With Retirement Spending: EDU #2501 appeared first on The Retirement and IRA Show.

Jim and Chris discuss listener and forum questions relating to Social Security benefits, IRMAA, RMDs, annuities, and beneficiaries. Chris kicked off the episode with a bold dare, promising listeners the “best show of the year” since it’s the last one for 2024. Jim took the challenge seriously, turning it into a record-breaking two-hour extravaganza with seven questions. (Hopefully Chris has learned his lesson!)

(10:45) The guys address a Social Security question on a financial services forum Jim follows.

(22:30) A listener follows up on a prior episode to ask about spousal and child-in-care benefits when Social Security’s family maximum is already reached.

(35:45) A listener provides a PSA about successfully using form SSA-44 multiple times to reduce IRMAA.

(40:30) George asks for clarification on whether the end-of-year IRA balance for RMDs is based on the market value at the opening or closing of December 31st.

(45:15) A forum post prompts a discussion about how a lifetime income benefit from an IRA annuity is valued when converting to a Roth IRA. (Correction: Jim incorrectly described the process for valuing a publicly traded security for “step-up in basis” purposes. The correct method is to average the high and low on the date of death, not the open and close.)

(1:03:00) Jim and Chris address a post-SECURE Act forum question: Are RMDs required in 2024 from an inherited IRA if distributions were already taken in prior years?

(1:14:45) The final forum question explores whether naming a contingent beneficiary on an IRA is necessary if the primary beneficiary is a trust.

The post Social Security Benefits, IRMAA, RMDs, Annuities, and Beneficiaries: Q&A #2452 appeared first on The Retirement and IRA Show.

Jim and Chris continue discussing different approaches to retirement planning, focusing on a listener’s DIY strategy. They cover key topics like withdrawal strategies, risk management, and tax considerations, emphasizing personalized solutions to fit individual goals.

The post Individualized Retirement Planning Strategies: EDU #2452 appeared first on The Retirement and IRA Show.

Jim and Chris discuss listener questions relating to IRMAA, Social Security benefits, 457B plans, Qualified Charitable Distributions, and Roth conversions.

(8:30) The guys address a listener question about using form SSA-44 to appeal IRMAA surcharge.

(20:45) George seeks clarity on whether and how his wife’s 457 plan distributions will impact their Social Security benefits.

(42:00) A PSA from Georgette shares her experience with using check-writing from an IRA for QCDs.

(46:00) Jim and Chris weigh in on advice given to a widow about converting her late husband’s SIMPLE IRA to a Roth IRA.

(1:20:45) A listener asks for guidance on handling the pro-rata rule after a backdoor Roth conversion and the implications of an IRMAA discrepancy due to a late-reported Roth conversion.

The post IRMAA, 457b, QCDs, and Roth Conversions: Q&A #2451 appeared first on The Retirement and IRA Show.