#097 – Inherited IRA Required Minimum Distribution ("RMD") Rules Retirement Planning Education, With Andy Panko podcast

53:35

Listener Q&A where Andy talks about: Why more fund managers don't offer mutual fund-to-ETF conversions ( 5:02 ) How my firm helps clients prepare for severe market declines, and how we communicate bad markets to them ( 8:48 ) Who's the voice of the intro and outro to this podcast ( 16:06 ) For spouses claiming Social Security, what's a good claiming strategy when one spouse doesn't have enough work history to get their own benefit and can only get spousal benefits ( 17:19 ) Could a person continue to fund a 529 for their children and later transfer the beneficiary to eventual grandchildren ( 21:37 ) What constitutes a gift of digital assets; is it the transfer of the key to the wallet? ( 24:01 ) What date/time is used for the date of death valuation of assets, like crypto, that trade 24/7 ( 25:52 ) How will the sale of a vacation property impact IRMAA ( 26:55 ) How will the sale of a vacation property impact Roth conversion analysis and trying to fill up a certain tax bracket ( 28:46 ) Why were the recent 3 and 5-year returns of total bond market funds so poor ( 32:48 ) Making estimated payments or withholdings to cover the tax obligations from a Roth conversion done late in the year ( 41:39 ) Thoughts on a listener's proposed basic retirement plan, investment allocation and bucketing strategy ( 47:20 ) The Smart Money, Fresh Minds podcast - here My YouTube video on Estimated Taxes, Tax Withholdings and Underpayment Penalties - here To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com My company newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#151 – Retirement planning chat with a "real" person, Rob Berger 1:02:16

7 днів тому1:02:16

1:02:16

Andy chats with real people (not advisors) doing their own retirement planning. In this episode, Andy talks with Rob Berger, the creator of the Rob Berger YouTube channel, the founder of the former DoughRoller website, published author and more!. They talk about a wide array of retirement planning topics such as when he started getting serious about retirement planning and a variety of financial topics such as Social Security, investing, how he plans to address any potential long term care scenarios and more! Links in this episode: Rob's YouTube channel - https://www.youtube.com/@rob_berger Rob's website - https://robberger.com/ Tenon Financial monthly e-newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com…

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#150 - "Hot topics" edition...Andy and Brian Tegtmeyer talk about retiring in a down market, concerns about Social Security, making estimated tax payments and MORE! 1:03:12

14 днів тому1:03:12

1:03:12

Andy and Brian Tegtmeyer share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about: Should someone delay their planned retirement if the markets are bad ( 6:50 ) Should someone cancel or delay taking a big trip in retirement if the markets are bad ( 13:48 ) Should someone start Social Security earlier than they were otherwise planning to since there appears to be increased uncertainty about the future strength of the system ( 18:22 ) Do people need to make estimated tax payments in retirement ( 26:44 ) If someone has never worked with an advisor and has always DIY'd their own planning, should they continue to DIY it in retirement ( 32:49 ) Are inheritances taxable, and what should people do with them ( 41:58 ) Tax smart ways to do charitable giving in retirement ( 54:01 ) Do gift givers or receivers of gifts have to pay tax on gifts ( 57:49 ) Links in this episode: Brian's firm - Truly Prosper Financial Planning Sara Grillo's list of flat fee advisors - here Advisors in the Advice Only Network - here To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com My company newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#149 - Tips and best practices to protect your ID and financial information 57:23

21 день тому57:23

57:23

Andy provides some tips and best practices to help keep your ID and financial information secure. Specifically: Check your credit report regularly Freeze your credit Get a tax return filing PIN from the IRS Use strong and unique passwords for all websites and online accounts Use a password manager Use two-factor (if not multi-factor) authentication wherever possible Use a VPN (Virtual Private Network) whenever on public Wi-Fi Use separate e-mails for different types of accounts Put a "Self-Lock" on your SSN within the E-Verify system Lock your SIM card with your cellular provider Be cognizant of phishing and vishing scams Be mindful of protection physical information and items Links in this episode: Transunion credit freeze - here Experian credit freeze - here Equifax credit freeze - here www.MyFICO.com www.CheckFreeScore.com IRS PIN info - here E-Verify Self-Lock info - here FTC article about how to spot phishing - here AARP article about how to spot vishing - here To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com Tenon Financial monthly e-newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#148 - Q&A edition...buffer ETFs, direct indexing, bucketing strategies, kiddie tax and MORE! 1:03:04

28 днів тому1:03:04

1:03:04

Listener Q&A where Andy talks about: Buffer ETFs and whether they can be used as replacements for CDs in building a ladder for upcoming years' expenses ( 4:29 ) His thoughts on direct indexing and whether it's worth doing to try to make non-qualified accounts for tax-efficient ( 14:11 ) Whether or not it's practical to implement a bucketing strategy ( 23:38 ) Considerations to put into a will when there is a beneficiary who may be contentious or difficult to deal with ( 34:18 ) Estate size exemptions and considerations for spouses splitting up accounts ( 42:55 ) Annualizing income on Form 2210 when making estimated payments and income earned or recognized is lumpy or uneven throughout the year ( 48:37 ) The "Kiddie Tax" and when it applies ( 54:27 ) To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com My company newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#147 – Chat with four "real" people, sharing what they wish they would have known or done differently during their divorces 1:27:54

5 weeks тому1:27:54

1:27:54

In this special edition "real" person chat, Andy talks with four different people who went through "gray" divorce (i.e. divorcing later in life; typically over the age of 50), to learn what they wish they would have known or done differently as they were going through the divorce process. Tenon Financial monthly e-newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com…

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#146 – Retirement planner chat, with Mark Rosinski from Dunes Financial 57:50

6 weeks тому57:50

57:50

Andy chats with fellow retirement planner Mark Rosinski, CFP®, CPA from Dunes Financial. 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, how to know when people have enough to retire, what consumers often overlook in retirement planning and much more! Links in this episode: Mark's advisory company website - Dunes Financial https://www.kitces.com/ Wade Pfau - Retirement Planning Guidebook: https://www.amazon.com/Retirement-Planning-Guidebook-Navigating-Important/dp/194564009X Retirement & IRA Show: https://podcasts.apple.com/us/podcast/the-retirement-and-ira-show/id656868743 All-In Podcast: https://podcasts.apple.com/us/podcast/all-in-with-chamath-jason-sacks-friedberg/id1502871393 The Drive Podcast: https://podcasts.apple.com/us/podcast/the-peter-attia-drive/id1400828889 The Retirement Nerds: https://www.youtube.com/@Theretirementnerds Car Dealership Guy: https://x.com/GuyDealership Colin Stroud: https://www.linkedin.com/in/gosomewhere/ His points service website: https://www.gosomewhere.world/ Ramit Sethi MoneyDials: https://www.iwillteachyoutoberich.com/money-dials/ To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com Tenon Financial monthly e-newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#145 - Understanding mutual fund capital gain distributions 43:48

7 weeks тому43:48

43:48

Andy discusses the ins and outs of mutual fund capital gain distributions, particularly in normal taxable brokerage accounts. Links in this episode: Tenon Financial monthly e-newsletter - Retirement Planning Insights To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#144 - Q&A edition...Rule of thumb for retirement income needs, qualified vs ordinary dividends, Social Security taxation and MORE! 41:18

8 weeks тому41:18

41:18

Listener Q&A where Andy talks about: Whether the rule of thumb saying in retirement you'll need about 80% of what you were making in wages is on a gross or net of taxes basis ( 6:49 ) Understanding why some dividends are "qualified" and some are not, why they're taxed differently, and why dividends from bond funds aren't qualified ( 14:15 ) Whether the decision to start Social Security sooner vs later would change if Social Security were to no longer be federally taxable ( 22:09 ) Whether spouses can combine their 401(k) balances ( 27:03 ) What a Form 5498 is, and if you need it to do your tax return, considering it often isn't available until after April 15th ( 30:27 ) If you can still make a 2024 Roth IRA or traditional IRA contribution in early-2025 ( 31:40 ) Whether you can make a contribution to a Roth IRA via transferring shares "in-kind" from a brokerage account ( 37:23 ) To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com My company newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#143 – Retirement planning chat with a "real" person, Jim Jones 59:34

9 weeks тому59:34

59:34

Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Jim Jones. They talk about a wide array of retirement planning topics such as transitioning from owning a dental practice into retirement, investing, Social Security, when they got serious about retirement planning, and more! Links in this episode: Jim's podcast - The JimJam Tenon Financial monthly e-newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com…

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#142 - "Hot topics" edition...Andy and Mike Powers talk about tariffs, TIPs, international stocks, data/cyber security and MORE! 1:29:19

10 weeks тому1:29:19

1:29:19

Andy and Mike Powers share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about: Tariffs: what they are, who pays them, do they cause inflation, etc. ( 9:42 ) Pros and cons of Treasury Inflation Protected Securities, or TIPS ( 21:32 ) Whether or not to hold international stocks ( 37:07 ) Considerations about whether to de-risk your portfolio and hold more cash a as result of expecting market uncertainty going forward ( 48:21 ) Options for where to hold cash ( 54:33 ) Observations and things to consider regarding doing your tax return ( 1:03:20 ) Data and cyber security considerations ( 1:13:54 ) Links in this episode: Mike's article about TIPS - here Mike's article on how to freeze your credit - here Mike's article on properly reporting US government obligation interest on your tax return - here Vanguard's forward-looking forecasts - here California's one-time tax return penalty abatement - here To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com My company newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#141 - Determining how much Roth conversion to do in a given year 52:27

11 weeks тому52:27

52:27

Andy discussed how to determine how much Roth conversion to do in a particular year (assuming you've decided Roth conversions make sense for you). He walks through how to do a current year income & tax projection, and what tax "targets" or "goals" are commonly used in determining how much conversion to do. Links in this episode: DinkyTown 1040 online tax return projection tool - here Tenon Financial monthly e-newsletter - Retirement Planning Insights To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#140 - Q&A edition...Donor Advised Funds, back door Roth IRA contributions, 10-year Treasury bonds, crypto and MORE! 53:02

12 weeks тому53:02

53:02

Listener Q&A where Andy talks about: Can Donor Advised Funds ("DAFs") be funded with pre-tax IRA money ( 2:22 ) How to do a backdoor Roth IRA contribution and avoid the pro rata rule if you have pre-tax funds in other IRAs ( 5:46 ) What are the must have important things to address and get right in retirement planning, vs what are nice to have optimization things ( 10:51 ) How come most flat fee advisors don't work with clients with net worth in excess of $10 million ( 19:50 ) How to invest excess money in taxable brokerage accounts ( 26:21 ) Can funds or investments in taxable brokerage accounts be exchanged in-kind with others to avoid consequences ( 30:07 ) Why is the 10-year Treasury bond used as a benchmark for many fixed income products, and why do bond prices change when interest rates change ( 32:49 ) How to know if you're over-saving ( 38:27 ) Thoughts about timing in when you take distributions vs doing Qualified Charitable Distributions ("QCDs") to satisfy Required Minimum Distributions ("RMDs") ( 41:51 ) My thoughts on crypto assets ( 46:29 ) To find an "advice only" advisor - www.AdviceOnlyNetwork.com To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com My company newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com…

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#139 – Retirement planning chat with a "real" person, John McLaurin 58:14

13 weeks тому58:14

58:14

Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with John McLaurin. They talk about a wide array of retirement planning topics such as planning for special needs and the "generational" planning involved, investing, Social Security, when they got serious about retirement planning, and more! Links in this episode: The book John mentioned - The Special Needs Planning Guide: How to Prepare for Every Stage of Your Child's Life Tenon Financial monthly e-newsletter - Retirement Planning Insights Facebook group - Retirement Planning Education (formerly Taxes in Retirement) YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified) Retirement Planning Education website - www.RetirementPlanningEducation.com To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com…

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#138 – Retirement planner chat, with Liz Yoder from Dependent Financial Planning 1:12:46

14 weeks тому1:12:46