Joe and Big Al attempt to clearly and succinctly explain modified adjusted income for Medicare and IRMAA, and the pro-rata and aggregation rules for Roth conversions. Will a combat zone TSP transfer be subject to those rules? Plus, joint tenants with rights of survivorship vs. transfer on death for a brokerage account, reducing taxes on the sale of a timeshare, how much to spend on home improvements, and using a reverse mortgage instead of long-term care insurance. And wait ’til you hear the fellas’ thoughts on the best way to pay the least amount of tax when you cash out your retirement savings to buy gold and silver.
Can multiple rental property losses be written off against other properties or income? What are the pros and cons of putting investment property in an LLC? How do you get the best tax breaks on rental real estate? How does real estate depreciation work? What do you need to think about when turning your primary residence into a rental property? Is a home equity line of credit (HECM or reverse mortgage) a good idea? Also: a complicated property inheritance, and self-funding long-term care insurance.
The psychology of retirement: what if you’ve saved enough and you’re financially ready to retire, but you’re paralyzed by the idea of no longer earning and saving? Plus, a Roth conversion strategy when your income is too high to contribute to Roth. How to know if it pays for you to convert and how much, and should you contribute to a rollover IRA before or after leaving a job? Finally, should you purchase long-term care insurance, or self-insure?
As you age, your portfolio grows, but your time to spend it shrinks. So from a financial perspective, what is the ideal retirement age? Plus, if you aren’t seeking FIRE (financial independence, retire early) but instead have achieved FAHR (financial abundance, happily retired), should you do Roth conversions to the top of the 37% tax bracket? Should you stop investing and start saving cash as retirement approaches? If you’re maxing out your retirement accounts, is it a good idea to now take advantage of a deferred comp plan? Is participating in an employee stock purchase plan (ESPP) putting too many eggs in one basket? And finally, how should you pay for long-term care insurance?
In these volatile markets, pitches for fixed indexed annuities will be on the upswing. Here’s how to analyze them for yourself. Plus, CARES Act stimulus payments for kids, retirement account distributions, and rethinking your retirement savings strategy. Also, SECURE Act stretch IRA rules, evaluating long term care insurance options, and why thrift savings plan (TSP) […]
What does long term care insurance cover, and when? Under what circumstances do you need LTC insurance? Senior Financial Planner Allison Alley, CFP® lists the 6 activities of daily living and how they play into your long term care insurance plan, how premium costs are determined, and when you can file a claim against your […]
Understanding the various types of long-term care services and what those services may cost is critical as you consider your retirement approach. Join us for a free one-hour webinar to better understand the costs and benefits of long-term care. Viewers will learn… Various Long-Term Care Options How Much Long-Term Care Costs What Long-Term Care Policies […]