Retirement Planning Education, with Andy Panko #167 - Q&A edition...basis in inherited IRAs, Social Security break even analysis, coordinating RMDs and Roth conversions and MORE!
Aug 28, 2025
In this engaging Q&A session, listeners dive into the complexities of inherited IRAs and the tax implications involved. Discover the ins and outs of Required Minimum Distributions and whether they're truly problematic. A break-even analysis for Social Security is examined, along with guidance on when to consider a financial advisor. Confusion over Roth contribution rules across different retirement plans is cleared up, and unique scenarios like handling RSUs and Health Savings Account distributions are discussed. Tune in for practical insights and lively banter!
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RMDs Are Like High Earned Income
- Large RMDs are functionally similar to large earned income: both mean you've accumulated wealth and will owe taxes.
- Paying more tax because you have more assets isn't inherently bad, but it is a planning problem worth managing.
Break-Even Is A Useful Data Point
- Break-even analysis for Social Security can be a useful data point, especially for singles without spousal considerations.
- It shouldn't be the sole factor; longevity, spouse impacts, and tax planning also matter.
When To Consider A Financial Advisor
- Hire an advisor if you lack competence or desire to manage retirement complexity, or want continuity if cognition or a spouse's role changes.
- Choose between one-time plans, advice-only, or ongoing managed services based on needs and asset size.