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Retirement Planning Education, with Andy Panko
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Retirement Planning Education, with Andy Panko

von Andy Panko

Neu#230 - "Hot topics" edition...Andy and Jonathan Vance talk about bonds & bond funds, Roth conversions, when to use HSAs, stock allocations, paying taxes, and MORE!12.11.2026 · 1 Std. 23 Min.
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233
Erscheint
wöchentlich
Letzte Folge
12. Nov. 2026
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Über den Podcast

Teaching you all about IRAs & Roth IRAs, employer retirement plans, taxes, Social Security, Medicare, portfolio withdrawal strategies, annuities, estate planning and much more!

Mitwirkende

  • Andy PankoModeration

Folgen 233

  1. #230 - "Hot topics" edition...Andy and Jonathan Vance talk about bonds & bond funds, Roth conversions, when to use HSAs, stock allocations, paying taxes, and MORE!

    1 Std. 23 Min.

    Andy and Jonathan Vance from Vance Financial Planning share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:their thoughts on using …

    Shownotes

    Andy and Jonathan Vance from Vance Financial Planning share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:

    • their thoughts on using bonds vs bond funds, bond ladders vs total return, etc. ( 7:13 )
    • when Roth conversions might make sense, and how they're often oversold by the industry ( 20:17 )
    • when to consider using money in a Health Savings Account, or HSA ( 32:24 )
    • when to start reducing stock exposure in your overall asset allocation as you approach retirement ( 42:14 )
    • the pros and cons of paying taxes via withholdings vs estimated payments ( 49:06 )
    • how your retirement plan will almost definitely support a different lifestyle than your working income ( 57:51 )
    • whether you should consider changing your Social Security claiming strategy in light of the pending depletion of the Social Security trust fund ( 1:08:31 )


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    To follow Andy on LinkedIn: https://www.linkedin.com/in/andypanko/

  2. #229 - 2026 year-end tax planning tips and items to consider

    1 Std. 6 Min.

    Andy shares some year-end tax planning tips, deadlines and things to consider around the following topics:contributions to qualified accountsRoth conversionsdistributions from qualified accountsRequired Minimum …

    Shownotes

    Andy shares some year-end tax planning tips, deadlines and things to consider around the following topics:

    • contributions to qualified accounts
    • Roth conversions
    • distributions from qualified accounts
    • Required Minimum Distributions ("RMDs")
    • charitable donations, including new deductibility provisions for 2026
    • Qualified Charitable Distributions ("QCDs") from IRAs
    • gifting
    • tax loss and tax gain harvesting
    • doing a projected/pro forma 2026 tax return
    • 2026 changes to eligibility rules for Affordable Care Act ("ACT") premium tax credits



    Links in this episode:




    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/

  3. #228 - Special edition...MarketWatch columnist Beth Pinsker discusses the most common questions asked by her readers

    1 Std. 10 Min.

    Andy and MarketWatch columnist Beth Pinsker, CFP®, discuss the most common questions she gets from her readers:Am I doing this (i.e. financial planning) right? ( 11:22 )Should I do a Roth conversion? ( 21:10 …

    Shownotes

    Andy and MarketWatch columnist Beth Pinsker, CFP®, discuss the most common questions she gets from her readers:

    • Am I doing this (i.e. financial planning) right? ( 11:22 )
    • Should I do a Roth conversion? ( 21:10 )
    • Can I make this large purchase I'm considering? ( 30:13 )
    • When should I claim Social Security? ( 47:40 )
    • Various questions around estate planning and choosing a caregiver ( 52:57 )



    Links in this episode:


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/



  4. #227 - Q&A edition...Roth conversions, IRA basis tracking & Form 8606, Alternative Minimum Tax credits, Fixed Indexed Annuities & IRA RMDs, and MORE!

    1 Std. 8 Min.

    Listener Q&A where Andy talks about: A correction about the previously discussed topic of contributing to a child's Roth IRA if they have earnings but don't file a tax return and don't have the …

    Shownotes

    Listener Q&A where Andy talks about:

    • A correction about the previously discussed topic of contributing to a child's Roth IRA if they have earnings but don't file a tax return and don't have the earnings reported on a W-2 ( 3:52 )
    • A follow up on a previously discussed question of whether it's better to pay $27k of tax to do a $100k Roth conversion, or to contribute $27k to an employer Roth account via the mega backdoor Roth contribution approach ( 7:26 )
    • A clarification about a previously discussed question regarding taking money out of a government 457 plan prior to age 59 1/2 ( 10:08 )
    • How pro rata works when doing a Roth conversion out of an IRA that has a mix of after-tax contributions, aka "basis," and pre-tax money such as earnings, and whether the IRA with the basis should be fully converted away before rolling in pre-tax money from a 401(k) ( 14:20 )
    • Whether to take money out of a Roth account or a pre-tax/tax-deferred account, and why ( 22:07 )
    • How to apply the Alternative Minimum Tax ("AMT") credit, if you have any such credit from having had to pay the AMT in prior years ( 27:52 )
    • How to address and fix Form 8606 if prior year's versions weren't correct ( 33:22 )
    • How the withdrawals from a Fixed Indexed Annuity, purchased with pre-tax IRA money, with guaranteed withdrawal rider factor into calculating and meeting Required Minimum Distributions ("RMDs") across the rest of your non-annuity IRAs ( 38:50 )
    • His thoughts on Transfer on Death, or TOD, beneficiary designations for real estate. And considerations when in a state that doesn't allow TOD on real estate but instead allows things such as Life Estate Deeds (such as in New Jersey) ( 48:46 )
    • His views on using Collateralized Loan Obligation ("CLO") ETFs that are rated AAA and pay higher interest than savings accounts or Treasury Bills, as cash equivalents in lieu of using savings accounts or Treasury Bills ( 59:26 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/


    Links in this episode:


  5. #226 – "Real" person retirement planning chat with Mike

    1 Std. 18 Min.

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Mike. They talk about a wide array of retirement planning topics such as how he learned …

    Shownotes

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Mike. They talk about a wide array of retirement planning topics such as how he learned important investing insights from Paul Merriman, how he adapted going from accumulation to decumulation mode, how he used a health sharing organization in lieu of traditional health insurance prior to starting Medicare, his thoughts on trying to downsize homes, and more!



    Links in this episode:




    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/

  6. #225 - "Hot topics" edition...Andy and Dan VanDusen talk about 529s vs Trump accounts vs UTMA brokerage accounts, common errors on tax returns, the current state of the bond market and MORE!

    1 Std. 19 Min.

    Andy and Dan VanDusen from Objective Wealth share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:How to decide between investing …

    Shownotes

    Andy and Dan VanDusen from Objective Wealth share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:

    • How to decide between investing money for a child or grandchild in a 529 vs Trump account vs UTMA brokerage account ( 9:19 )
    • What errors and missed items they commonly see in reviewing tax returns ( 18:28 )
    • Their thoughts on the current state of affairs of the bond market ( 25:10 )
    • What to do with appreciated mutual funds held in a normal brokerage account where the funds throw off variable and potentially large taxable capital gain distributions each year ( 33:36 )
    • How to address concentrated appreciated stock positions in brokerage accounts, where selling the shares would lead to sizable tax impacts ( 42:00 )
    • The areas of retirement planning that people unnecessarily give too much attention too ( 46:19 )
    • Estate planning considerations, particularly at the state level (for states that have estate and/or inheritance taxes) ( 54:26 )
    • How to help people give themselves "permission to spend" their retirement savings ( 1:03:50 )
    • How to factor a potential inheritance to be received into a financial plan ( 1:11:03 )


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    To follow Andy on LinkedIn: https://www.linkedin.com/in/andypanko/

  7. #224 - The basics of bonds: what they are, how they work, and how to use them in retirement planning

    1 Std. 27 Min.

    Andy discusses the basics of bonds, including:Basic features and functions of bondsThe risks in bondsBond issuers and maturitiesHow bonds can be usedHow and why bond prices changes, and how interest rates …

    Shownotes

    Andy discusses the basics of bonds, including:

    • Basic features and functions of bonds
    • The risks in bonds
    • Bond issuers and maturities
    • How bonds can be used
    • How and why bond prices changes, and how interest rates impact prices
    • Bonds vs bond funds


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    To follow Andy on LinkedIn: https://www.linkedin.com/in/andypanko/

  8. #223 - Q&A edition...the 4% rule, Artificial Intelligence and the planning world, RMDs vs annuity income, TIPS, and MORE!

    1 Std.

    Listener Q&A where Andy talks about: Follow up thoughts on a previous question about whether it's better to use $27k of cash to make a mega backdoor Roth contribution, or to do a $100k in-plan Roth …

    Shownotes

    Listener Q&A where Andy talks about:

    • Follow up thoughts on a previous question about whether it's better to use $27k of cash to make a mega backdoor Roth contribution, or to do a $100k in-plan Roth conversion and use the $27k to pay the taxes on it ( 4:01 )
    • Why the 4% rule isn't called the 3% rule, when working with an advisor who charges 1% of assets under management ( 13:52 )
    • His thoughts on how Artificial Intelligence might impact the advisory world with regards to service offerings and fee structures ( 17:25 )
    • Similarities and differences between Required Minimum Distributions ("RMDs") and annuity income ( 22:56 )
    • A few questions about Treasury Inflation Protected Securities, or TIPS: how they might fit into a retiree's portfolio, how to choose the length of maturity, if there is a minimum yield one should target to justify it, and thoughts on deciding what allocation to use between TIPS and equities ( 26:24 )
    • Social Security claiming thoughts for a married couple where one spouse doesn't have any earnings history or Social Security benefit of their own; should the other spouse not delay starting their benefit so the other spouse can start spousal benefits sooner? ( 39:56 )
    • If investing money for your child, how to decide between funding a Trump account or a Roth IRA ( 45:38 )
    • Whether Roth conversions would still make sense if you have to pay tax via distribution and withholding out of the conversion, instead of paying the tax out of "outside" funds such as cash from bank or brokerage accounts ( 50:15 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/


    Links in this episode:

  9. #222 - All about pensions...what they are, how they work, how to decide between taking lifetime payments or a lump sum, and MORE! [replay of Andy's appearance on the Catching up to FI podcast]

    1 Std. 44 Min.

    In this replay of Andy's recent guest appearance on the Catching up to FI podcast, Andy and hosts Bill Yount, MD, and Jackie Cummings Koski, CFP®, AFC®, talk all about traditional defined benefit pensions …

    Shownotes

    In this replay of Andy's recent guest appearance on the Catching up to FI podcast, Andy and hosts Bill Yount, MD, and Jackie Cummings Koski, CFP®, AFC®, talk all about traditional defined benefit pensions. What they are, how they work, how to decide between taking payments vs a lump sum and much more!

    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    To follow Andy on LinkedIn: https://www.linkedin.com/in/andypanko/

  10. #221 - Retirement planner chat with Ryan Langan from Your Path Fi

    1 Std. 37 Min.

    Andy chats with fellow retirement planner Ryan Langan, CFP®, from Your Path Fi. In this episode they talk about a wide array of retirement planning topics such as tax planning, distribution strategies …

    Shownotes

    Andy chats with fellow retirement planner Ryan Langan, CFP®, from Your Path Fi. In this episode they talk about a wide array of retirement planning topics such as tax planning, distribution strategies, investing, annuities, long-term care insurance, what consumers often overlook in retirement planning and much more!

    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    To follow Andy on LinkedIn: https://www.linkedin.com/in/andypanko/

  11. #220 - How to move to a new state...tax compliantly

    1 Std. 25 Min.

    Andy discusses what all is involved in moving to a new state, from a tax perspective...properly changing your "domicile" and "residence" to the new state. Spoiler alert: It's not necessarily as simple as …

    Shownotes

    Andy discusses what all is involved in moving to a new state, from a tax perspective...properly changing your "domicile" and "residence" to the new state. Spoiler alert: It's not necessarily as simple as buying a house and spending at least six months and a day in the new state!


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    To follow Andy on LinkedIn: https://www.linkedin.com/in/andypanko/

  12. #219 - Q&A edition...paying down a mortgage vs paying tax on Roth conversions, Social Security survivor benefits, converting ALL pre-tax money to Roth, updating account beneficiaries, and MORE!

    1 Std. 5 Min.

    Listener Q&A where Andy talks about: Whether to use money in a 457b to pay down a mortgage or to pay taxes on Roth conversions ( 7:56 )How Social Security survivor benefits work, and the optimal ages for …

    Shownotes

    Listener Q&A where Andy talks about:

    • Whether to use money in a 457b to pay down a mortgage or to pay taxes on Roth conversions ( 7:56 )
    • How Social Security survivor benefits work, and the optimal ages for spouses to each claim their own Social Security ( 18:54 )
    • His thoughts on why the Social Security trust fund hasn't been allowed to invest in equities ( 25:36 )
    • Creating spreadsheets to replace financial planning software, and using it to help your ongoing retirement planning and projections ( 30:40 )
    • His thoughts on whether someone should try to convert ALL of their pre-tax money to Roth ( 36:56 )
    • Transferring/rolling money from an IRA to an HSA (Health Savings Account) ( 46:05 )
    • Whether you have to start Medicare Part A if you start Social Security but are still covered by a spouse's employer's health insurance ( 49:18 )
    • Updating beneficiaries on investment accounts after one of the beneficiaries passes ( 53:17 )
    • His thoughts on whether comparing a portfolio's investment returns to those of the S&P 500 is appropriate, and whether it's okay to hold bonds as investments ( 58:22 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/


    Links in this episode:

  13. #218 – "Real" person retirement planning chat with Mark

    1 Std. 42 Min.

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Mark. They talk about a wide array of retirement planning topics such as when he started …

    Shownotes

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Mark. They talk about a wide array of retirement planning topics such as when he started getting serious about planning for retirement, how he got comfortable going from accumulation to decumulation mode, how he and his wife are navigating health insurance prior to Medicare eligibility, why he randomly showed up in Andy's office one day, and more!



    Links in this episode:




    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/

  14. #217 - Q&A edition...unrealized gains in brokerage accounts, variable withdrawal strategies, unused 529 funds, protecting against fraud from advisors and MORE!

    1 Std. 9 Min.

    Listener Q&A where Andy talks about: How to sell and rebalance positions in a brokerage account when they have unrealized gains and you're trying to be tax-efficient about it ( 7:06 )His thoughts on a few …

    Shownotes

    Listener Q&A where Andy talks about:

    • How to sell and rebalance positions in a brokerage account when they have unrealized gains and you're trying to be tax-efficient about it ( 7:06 )
    • His thoughts on a few different variable portfolio withdrawal strategies, namely Amortization Based Withdrawals ("ABW"), Total Portfolio Allocation Withdrawals ("TPAW") and Big ERN's CAPE-based approach ( 14:10 )
    • Converting to a Roth IRA money you plan on spending in the near-term, instead of outright distributing it to your bank or brokerage account to be spent from there ( 23:18 )
    • Whether doing Roth conversions or backdoor Roth contributions are ultimately the same thing from a tax planning perspective ( 28:02 )
    • His thoughts on deciding which type of advisor and/or advisory fee model might make the most sense for you when considering the potential fees to be paid to an advisor over a lifetime ( 33:41 )
    • At what point should you just take out unused 529 funds and pay tax and penalty on the gains, assuming you have no expectation they'll eventually get to be used for qualified education expenses ( 40:15 )
    • Potential ideas for small or solo advisory firms to establish a succession plan in the event of the death or incapacitation of the advisor ( 45:26 )
    • What to look for in an advisory relationship to help minimize the risk of the advisory committing fraud with your money ( 50:50 )
    • Whether to live off cash for multiple years - assuming you have saved that much cash - or instead pull from your investment accounts ( 56:53 )
    • His thoughts on Securities Backed Lines of Credit, or SBLOCs, from brokerage firms ( 1:00:35 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/


    Links in this episode:


  15. #216 - Trump accounts: what they are, how they work, and use cases

    1 Std. 36 Min.

    Andy discusses the ins and outs of Trump accounts:Legislative backgroundHow to open themHow to fund themInvesting inside themHow to distribute from themReporting around themTaxation of themThe two potential …

    Shownotes

    Andy discusses the ins and outs of Trump accounts:

    • Legislative background
    • How to open them
    • How to fund them
    • Investing inside them
    • How to distribute from them
    • Reporting around them
    • Taxation of them
    • The two potential worthwhile use cases I see for them


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    To follow Andy on LinkedIn: https://www.linkedin.com/in/andypanko/

  16. #215 - Summary of the 2026 annual Social Security trustees report

    55 Min.

    Andy summarizes the recent 2026 annual Social Security trustees report, including what it would actually mean if the system's trust fund were to deplete, and what changes can be made to ensure that …

    Shownotes

    Andy summarizes the recent 2026 annual Social Security trustees report, including what it would actually mean if the system's trust fund were to deplete, and what changes can be made to ensure that doesn't happen


    Links in this episode:

    • The full 2026 Social Security trustees report - here
    • Summary of the recently proposed PROMISE Act - here
    • The recent episode of Inspired Money with me, Wade Pfau and Mary Beth Franklin discussing all things Social Security - here




    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/

  17. #214 - Q&A edition...Roth conversions, directionality vs precision, separately managed accounts, tax return extensions and MORE!

    1 Std. 9 Min.

    Listener Q&A where Andy talks about: Should Roth conversion analysis look at marginal or effective tax rates ( 4:21 )His thoughts on why qualified Roth account distributions might eventually be included in …

    Shownotes

    Listener Q&A where Andy talks about:

    • Should Roth conversion analysis look at marginal or effective tax rates ( 4:21 )
    • His thoughts on why qualified Roth account distributions might eventually be included in certain measures of Modified Adjusted Gross Income ("MAGI") ( 8:28 )
    • What other MAGIs are potentially impacted and should be watched out for with doing Roth conversions ( 12:38 )
    • The difference between "directionality" and "precision" in retirement planning ( 20:40 )
    • Is it reasonable for an advisor to charge you extra for outsourcing some of their investment management to a separately managed or sub-managed account ( 25:38 )
    • His thoughts of reinvesting a deferred compensation plan to all cash when the plan will soon begin paying out its deferred payments ( 29:34 )
    • His thoughts on using multiple dividend and fixed income funds to create a "high income sleeve" for near-term distribution needs ( 35:25 )
    • Whether it's accurate that you can indirectly file a tax return extension simply by making an online tax payment and select "extension" as the reason for the payment ( 39:05 )
    • Can a minor with less than $400 of self-employment income not file a tax return yet still be eligible to contribute to a Roth IRA ( 44:56 )
    • How he helps clients balance Fear of Missing Out ("FOMO") and Fear of Running Out ("FORU") ( 52:04 )
    • How much of his planning work with clients is computational vs psychological ( 54:42 )
    • His thoughts on the gamification of investing, and the prediction markets ( 58:11 )
    • Why there are so many different funds like buffered ETFs and option trading ETFs, at higher expense ratios, when many can just invest in a few basic low-cost ETFs ( 1:00:36 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/


    Links in this episode:



  18. #213 – "Real" person retirement planning chat with Tom

    1 Std. 17 Min.

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Tom. They talk about a wide array of retirement planning topics such as when he started …

    Shownotes

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Tom. They talk about a wide array of retirement planning topics such as when he started getting serious about planning for retirement, why he went back to work as a consultant a year after retiring, why their plans of relocating to a different state have since changed, what his Roth conversion plan is, and more!



    Links in this episode:




    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Andy's LinkedIn profile: https://www.linkedin.com/in/andypanko/

  19. #212 - "Hot topics" edition...Andy and Tanya Nichols talk about having mortgages in retirement, when to start spending down HSAs, what might happen to Social Security and MORE!

    1 Std. 38 Min.

    Andy and Tanya Nichols from Retire Agile share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:How we help clients get over the …

    Shownotes

    Andy and Tanya Nichols from Retire Agile share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:


    • How we help clients get over the hurdle of actually spending their savings ( 10:27 )
    • Their thoughts on having mortgages in retirement ( 22:27 )
    • What they think is likely to happen to the Social Security system, and what changes might be made in advance of the trust fund depleting in a few years ( 34:56 )
    • When people should start spending down their Health Savings Accounts, or HSAs ( 44:10 )
    • Some state-specific tax planning considerations to keep in mind ( 53:07 )
    • Their thoughts on living/revocable trusts, when they're needed, when they're not, etc. ( 1:03:12 )
    • Alternatives to bond for people looking for investments that sit between the volatility and growth potential of stocks, and the stability and principal protection of cash and cash equivalents ( 1:16:39 )


    Links in this episode:


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


  20. #211 – 8 common tax planning mistakes often made in retirement

    1 Std. 14 Min.

    Andy discusses common tax planning mistakes often made in retirement. Additionally, he shares insight on how to attempt to prevent such mistakes, and/or fix them after they've happenedThe 8 common mistakes …

    Shownotes

    Andy discusses common tax planning mistakes often made in retirement. Additionally, he shares insight on how to attempt to prevent such mistakes, and/or fix them after they've happened


    The 8 common mistakes are:

    • Not paying enough income tax timely throughout the year, and having underpayment penalties as a result
    • Missing or not taking the correct amount of Required Minimum Distributions (“RMDs”)
    • Having improper beneficiary designations
    • Not properly applying Roth account withdrawal rules
    • Not understanding IRA “basis” and the pro rata rule
    • Not being as tax-efficient as possible with charitable giving
    • Not managing Modified Adjusted Gross Income (“MAGI”)
    • Not planning for state-specific income tax considerations


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

  21. #210 - Q&A edition...Mega backdoor Roth contributions, nonqualified annuities, exceptions to the IRA early withdrawal penalty, when to hire an advisor, how much is too much to pay for an advisor and MORE!

    1 Std. 10 Min.

    Listener Q&A where Andy talks about: Are tax return amendments needed if info from a 1099-R was left out but doesn't impact the return's gross or taxable income ( 4:08 )What are the pros and cons of …

    Shownotes

    Listener Q&A where Andy talks about:

    • Are tax return amendments needed if info from a 1099-R was left out but doesn't impact the return's gross or taxable income ( 4:08 )
    • What are the pros and cons of using average cost basis tracking for mutual funds ( 8:36 )
    • Tax implications of nonqualified annuities and surrendering vs annuitizing it ( 13:55 )
    • Is there a more optimized way to pay taxes on in-plan Roth conversions as opposed to having additional taxes withheld from your paycheck ( 23:21 )
    • Thoughts on using "reverse budgeting" to figure out how much you spend, instead of manually adding up all of the line items of actual expenses you have ( 28:28 )
    • How to properly report on your tax return a disability exception to the 10% IRA early withdrawal penalty if the custodian won't reflect the exception on the 1099-R ( 34:31 )
    • How much is too much to pay a financial advisor who charges a percent of assets under management, and thoughts on only rolling some of a 401(k) to an advisor and managing the rest on your own ( 40:23 )
    • Options/insurance to help cover expenses for dental, vision, and hearing since traditional Medicare doesn't cover those things ( 47:46 )
    • When to consider getting a financial advisor (or at least getting a one-time financial plan done) ( 52:06 )
    • How to properly report on your tax return a SEPP (Substantially Equal Periodic Payment) exception to the 10% IRA early withdrawal penalty if the custodian won't reflect the exception on the 1099-R ( 58:00 )
    • Thoughts on retiring from Oklahoma to a high cost of living place like New York City (to be near kids and grandkids) ( 1:02:02 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Links in this episode:


  22. #209 – "Real" person retirement planning chat with Mark Ross from the Rock Retirement Club

    1 Std. 27 Min.

    Andy and Mark Ross from the Rock Retirement Club talk about Mark's journey in retiring to become an "encorepreneur" by starting a coaching business, and spending more time creating art. They also address …

    Shownotes

    Andy and Mark Ross from the Rock Retirement Club talk about Mark's journey in retiring to become an "encorepreneur" by starting a coaching business, and spending more time creating art. They also address some of standard "real person" planning questions such healthcare before Medicare, Social Security claiming, the emotional transition to leaving the corporate world, and more!



    Links in this episode:




    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

  23. #208 - "Hot topics" edition...Andy and Adam Grossman talk about analyzing annuities, retiring to a different state, bonds vs bond funds, inflation and MORE!

    1 Std. 42 Min.

    Andy and Adam Grossman from Mayport Wealth Management share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:How to analyze an …

    Shownotes

    Andy and Adam Grossman from Mayport Wealth Management share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:


    • How to analyze an existing annuity and whether to keep it, exchange it to another annuity or surrender it ( 11:44 )
    • The different things to factor in when considering retiring to a different state ( 23:18 )
    • What to do with your investments regarding concerns about the U.S.'s national debt, potential inflation, potential market declines, etc. ( 33:41 )
    • How much to try to optimize moving around cash balances between savings accounts, money market funds, Treasury Bills, CDs, etc. to try to maximize the amount of interest you can get ( 43:44 )
    • Their thoughts on individual bonds vs bond funds, what we use, and why ( 54:27 )
    • How we handle and implement inflation assumptions when doing financial planning with clients ( 1:05:37 )
    • Their thoughts on how Artificial Intelligence may impact financial planning, both as advisors and as consumers ( 1:12:55 )
    • What to make of illustrations for permanent life insurance policies, how reliable those illustrations are, when to consider buying permanent life insurance, when not to buy permanent life insurance, etc. ( 1:19:48 )


    Links in this episode:


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


  24. #207 – Roth conversion analysis: more than meets the eye

    1 Std. 19 Min.

    Andy discusses the various areas of consideration and analysis that go into deciding whether Roth conversions might potentially be of value. Furthermore, he explains why it's impossible to actually …

    Shownotes

    Andy discusses the various areas of consideration and analysis that go into deciding whether Roth conversions might potentially be of value. Furthermore, he explains why it's impossible to actually quantify how much tax savings, if any, Roth conversions might potentially create. And what to consider when figuring out how much to convert in any given year


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

  25. #206 - Q&A edition...Social Security spousal benefits, tax withholdings on Social Security, bonds vs bond funds, separating basis out of IRAs and MORE!

    55 Min.

    Listener Q&A where Andy talks about: Claiming your own Social Security benefit at 62 and then later switching to collecting a spousal benefit after your spouse starts their benefit ( 5:45 )It's said by …

    Shownotes

    Listener Q&A where Andy talks about:

    • Claiming your own Social Security benefit at 62 and then later switching to collecting a spousal benefit after your spouse starts their benefit ( 5:45 )
    • It's said by comedians that there are just a small number of basic jokes and everything else is just a variation. The same could be said about financial planning, where there are just a few core topics, and everything else is a variation on a core topic ( 11:18 )
    • What is meant when it's said the stock market is a "complex adaptive system," and that it's movement is a "random walk" ( 14:08 )
    • How to determine how much tax to withhold from your Social Security payments ( 17:34 )
    • Why many flat fee financial advisors who focus on working with retirees only work with people whose net worth is generally no more than $10 million ( 21:22 )
    • Bonds vs bond funds, and the pros and cons of using each for money that you plan on needing in three years, for example ( 29:23 )
    • An example of removing "cream from the coffee" with regards to after-tax contributions or basis in traditional IRAs, so you can convert just the after-tax contributions without the pro rata rule making some of that conversion taxable ( 33:44 )
    • Participating in fully paid securities lending programs at your brokerage custodian, where the custodian will borrow some of your securities out of your account and pay you some interest for doing so ( 41:50 )
    • Thoughts about rolling over an HSA from one custodian to another, and whether it's better to do a direct custodian-to-custodian transfer (even if the money is out of the markets for a few weeks), or an indirect 60-day rollover (which will likely be processed and reinvested faster) ( 48:10 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Links in this episode:


  26. #205 – "Real" person retirement planning chat with Daryl

    1 Std. 6 Min.

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Daryl. They talk about a wide array of retirement planning topics such as when he started …

    Shownotes

    Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Daryl. They talk about a wide array of retirement planning topics such as when he started getting serious about planning for retirement, how he's gotten comfortable spending from his nest egg, what he's doing for health insurance since he's not yet on Medicare and what his claim to fame was with being on television...



    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

  27. #204 - "Hot topics" edition...Andy and Brad Flood talk about portfolio withdrawal strategies & sequence of returns risk, financial planning software limitations, balancing optimization and simplicity, and MORE!

    1 Std. 31 Min.

    Andy and Brad Flood from Tenon Financial share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:Portfolio withdrawal strategies for …

    Shownotes

    Andy and Brad Flood from Tenon Financial share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:


    • Portfolio withdrawal strategies for addressing sequence of returns risk ( 10:44 )
    • Using financial planning software and dealing with its limitations ( 26:25 )
    • Thoughts on Medicare surcharges known as IRMAA, and how much they should be factored into tax planning ( 40:25 )
    • Dealing with legacy investments in client's accounts when clients want to streamline and simplify their holdings, but also want or need to continue to hold some existing positions of theirs ( 46:14 )
    • Balancing optimization and simplicity in financial planning; when is "good enough," enough? ( 58:29 )
    • When in the year to take distributions from Required Minimum Distributions ("RMDs") ( 1:12:19 )
    • A summary of our processes and semiannual meetings at Tenon Financial ( 1:19:02 )


    Links in this episode:


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


  28. #203 – Options for holding cash and cash equivalents

    1 Std. 21 Min.

    Andy discusses the different options for holding cash and cash equivalents (i.e. things that are principal protected, offer some amount of interest and are highly liquid and readily accessible)The options …

    Shownotes

    Andy discusses the different options for holding cash and cash equivalents (i.e. things that are principal protected, offer some amount of interest and are highly liquid and readily accessible)

    The options are:

    • Physical bills and coins
    • Checking accounts
    • Savings accounts
    • Certificates of Deposit, or CD's
    • Money Market Mutual Funds or Exchanged Traded Funds that invest like Money Market Mutual Funds
    • Multi-Year Guaranteed Annuities, or MYGA's (but hear why he doesn't fully consider them cash equivalents)


    Links in this episode:



    To send Andy questions to be addressed on future Q&A episodes, email [email protected]

  29. #202 – Guest host Mark Rosinski discusses Treasury obligation interest, basis in inherited IRAs, RMD aggregation rules, doubling up contributions to 457 plans, and ways to invest during the Social Security delay period

    1 Std. 11 Min.

    Guest host Mark Rosinski, CFP®, CPA, RICP®, from Dunes Financial does a "hot topics" episode where he talks about:US Government obligation interest and what to look for on your consolidated 1099 to make sure …

    Shownotes

    Guest host Mark Rosinski, CFP®, CPA, RICP®, from Dunes Financial does a "hot topics" episode where he talks about:

    • US Government obligation interest and what to look for on your consolidated 1099 to make sure you properly reflect the state income tax treatment on your tax return ( 9:06 )
    • Understanding and tracking after-tax "basis" in inherited IRAs ( 20:14 )
    • Required Minimum Distribution ("RMD") aggregation rules ( 25:03 )
    • Potentially doubling up contributions to governmental 457 employer retirement plans, and other unique aspects of 457 plans ( 33:27 )
    • Different approaches for investing money during the period where income from working has stopped but Social Security has not yet been started. Options include total return, bond ladders, bucket strategies, and hybrid approaches ( 46:35 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Links in this episode:


  30. #201 - Q&A edition...A.I. and financial planning, the "withhold and replace" method of paying taxes, step DOWN in basis, TIPS ladders and MORE!

    58 Min.

    Listener Q&A where Andy talks about: Correction to a previous Q&A episode regarding taxation of lump sum Social Security benefits paid in one year for benefits attributable to the prior year ( 9:54 )His …

    Shownotes

    Listener Q&A where Andy talks about:

    • Correction to a previous Q&A episode regarding taxation of lump sum Social Security benefits paid in one year for benefits attributable to the prior year ( 9:54 )
    • His thoughts on artificial intelligence and how it can impact the financial planning industry ( 13:00 )
    • The "withhold and replace" method of paying taxes when doing IRA distributions or conversions and using the indirect 60-day rollover approach to ultimately pay taxes out of your bank or brokerage account, but with the benefit of doing it via withholdings from the IRA ( 20:30 )
    • Step DOWN in basis when inheriting assets that have declined in value from where the original owner bought them ( 31:46 )
    • When having a pension available, instead of selecting a payment option that lives on for your spouse upon your death, instead taking the payment option that stops when you pass, and using the difference in the larger payment amount to buy life insurance for the benefit of your spouse ( 40:00 )
    • His thoughts on using a TIPS ladder ( 45:29 )
    • Whether to invest money or instead use it to buy long term care insurance. Such as deciding between making an $8,000 Roth 401(k) catchup contribution, or using some or all of that $8,000 to buy long term care insurance ( 50:48 )
    • At what point does larger investable asset size or net worth start to lead to the need to have a more complex portfolio, or to invest in non-traditional assets like private investments, alternatives, etc. ( 54:31 )


    To send Andy questions to be addressed on future Q&A episodes, email [email protected]


    Links in this episode:


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