The Retirement and IRA Show

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.

Jim and Chris discuss listener questions on Social Security COLA timing, spousal claiming strategy, IRMAA tax treatment, Roth IRA rollovers from 529 plans, and a listener PSA on deferred annuity RMD rules. (8:00) Georgette asks whether her initial Social Security benefit—approved in September for a December start—will reflect the January COLA increase. (15:30) A listener with similar PIAs and ages to their spouse asks whether it makes sense for one to claim early and the other to delay until 70. (30:30) George shares his realization that the IRMAA surcharge appears to be included in the SSA-1099’s taxable benefit amount, and calls it out in a PSA. (50:30) The guys respond to George’s question about whether a $5,000 rollover from a 529 to a Roth IRA will be treated entirely as contributions for tax-free early withdrawal. (1:08:00) Jim and Chris address Peter’s PSA about calculating RMDs when comparing DIAs and FIAs with GLWBs for a future income stream starting at age 75. The post Social Security, IRMAA Taxation, 529 Rollover, Deferred Annuities: Q&A #2544 appeared first on The Retirement and IRA Show.

If you would like to skip Jim and Chris discussing Jim’s travel plans and the guys’ frustration with low-cost airline pricing, you can skip ahead to (10:30). Chris’s SummaryJim and I continue our discussion on Social Security claiming strategies, revisiting the debate between Professors Derek Tharp and Laurence Kotlikoff. We explore how academic disagreements overlook the practical realities of retirement, emphasizing that Social Security is a resource, not a contest. We examine listener experiences, psychological factors, and portfolio interactions, highlighting how claiming decisions should reflect individual comfort, income structure, and long-term needs—not just mathematical optimization. Jim’s “Pithy” SummaryChris and I wrap up our walk through of Professor Kotlikoff’s response to Derek Tharp’s Social Security article—two academics with brilliant résumés and completely opposite opinions on claiming strategies. One says claim early. The other says delay to 70. But both, in my opinion, miss the bus when it comes to what actually matters to retirees: peace of mind. We read two listener emails that bring the conversation back to reality. One listener puts it simply: “delaying Social Security is longevity insurance”. The second shares two real stories: a friend who claimed at 63, had a serious health event at 68, and passed away at 72, and a father who claimed at 62 but lived to 95. Same choice, very different outcomes. That’s why I say retirement is just a seesaw between the younger you and the older you—and you don’t know which one’s going to show up. We also dig into some of the risks that get thrown around to justify early claiming—like sequence of return risk or loss of spending flexibility—and explain why they don’t hold much water if your retirement plan is structured the right way. The delay period isn’t something to be afraid of. It has an end date. You can plan for it. For us, there’s no single right answer. The correct claiming strategy is whatever works for the person. But too many people focus on how to die with the most, instead of asking what their Social Security has to do for them. Show NotesDerek Tharp article Laurence Kotlikoff article The post Social Security Claiming Strategies, Part 2: EDU #2544 appeared first on The Retirement and IRA Show.

Jim and Chris discuss listener questions on how Medicare enrollment affects HSA contributions, Social Security survivor benefits and IRMAA adjustments, financial advisor fee disclosures, and the Thrift Savings Plan (TSP) as a tool in retirement planning.(10:00) A listener asks whether enrolling in Medicare in December with coverage starting in January limits HSA contributions due to the six-month retroactive rule.(31:00) The guys address how a December birthdate affects delayed retirement credits and whether a surviving spouse would receive the full 8% annual increase.(39:00) George wants to know if he can use SSA Form 44 to reduce his IRMAA premium calculation after retiring and lowering his income.(47:00) Jim and Chris respond to a question about financial advisor fee disclosures.(59:15) A listener asks for Jim and Chris’ thoughts on the Thrift Savings Plan, particularly use of the G Fund. The post HSA Contributions, Social Security, Fee Disclosures, TSPs: Q&A #2543 appeared first on The Retirement and IRA Show.

Chris’s Summary Jim and I examine a recent Social Security claiming strategies debate prompted by articles from Derek Tharp and Laurence Kotlikoff. The episode highlights how opposing valuation frameworks—economic modeling versus purpose-driven income planning—can lead to drastically different conclusions. We explain why assigning Social Security a clear job, such as covering your Minimum Dignity Floor, provides a more reliable foundation for deciding when to claim. Jim’s “Pithy” SummaryChris and I walk through the disagreement between Professor Tharp and Professor Kotlikoff on Social Security claiming strategies. These are incredibly smart guys, and I respect what they’ve accomplished—but I think they’ve both missed the boat. They’re focusing on who’s right from an academic standpoint instead of what actually matters to real people: how Social Security fits into a retirement plan. I go back to the woman I bought strawberries for—the one who thanked me and told me she lives on just Social Security. That moment changed my life. It’s why I became a retirement planner. Retirement is a seesaw between the younger you and the older you. And you have to make an explicit promise that the older you will be okay. I’ve never liked making that promise with volatile assets. For core expenses—food, utilities, transportation, housing, and health care—you need income that lasts as long as you do. So no, I don’t think everyone should delay to 70. And I don’t think everyone should claim early. It depends on what Social Security needs to do in your plan. If you don’t need it, fine. But if you do, and you claim early just because “you might die,” what happens if you don’t? That older you could have had 76% more—and they’re the one who’ll feel the difference.   Show Notes: Tharp Article Kotlikoff Article The post Social Security Claiming Strategies, Part 1: EDU #2543 appeared first on The Retirement and IRA Show.