The Retirement and IRA Show

DEC 6, 2025

Social Security, IRMAA, Medicare, Roth Contribution Rules, Roth Conversions: Q&A #2549

Jim and Chris discuss listener questions on Social Security family maximum and suspending benefits, a listener PSA on IRMAA premiums, a listener PSA on Medicare premiums, a listener PSA on Social Security claiming strategies, Roth contribution rules, and Roth conversion disadvantages. (4:30) George asks how the combined family maximum benefit works when two retirement records are combined to increase the family limit for auxiliary benefits paid to a spouse and two minor children. (16:00) A listener asks what additional factors should be considered when suspending a Social Security benefit at full retirement age and restarting at 70 after previously claiming early. (30:15) The guys share a PSA in which a listener states that IRMAA is a premium rather than a tax because Medicare enrollment is optional. (37:45) Georgette shares her objections to Chris describing the base Medicare premium as “free” and explains why she feels that is misleading. (44:30) A listener offers a couple of PSAs, first sharing their thoughts on Nokbox, then sharing an article on a Social Security claiming strategy they believe could help people concerned about sequence of returns. (51:00) The guys answer a question about how a 529-to-Roth IRA transfer affects the annual Roth contribution limit when part of the rollover is gains. (56:30) Jim and Chris address what disadvantages exist when choosing a Roth conversion instead of a non-RMD IRA withdrawal when both would be taxable. Show Notes: <a href="https://www.thenokbox.com/" target="_blank" rel="noopener">NokBox</a> <a href="https://www.fidelity.com/learning-center/personal-finance/retirement/readjust-your-claiming-strategy" target="_blank" rel="noopener">Social Security | Readjust your claiming strategy | Fidelity</a> The post <a href="https://www.theretirementandirashow.com/podcast/social-security-medicare-roth-contribution-rules-conversions-qa-2549/">Social Security, IRMAA, Medicare, Roth Contribution Rules, Roth Conversions: Q&A #2549</a> appeared first on <a href="https://www.theretirementandirashow.com">The Retirement and IRA Show</a>.

84 MIN

DEC 3, 2025

The QLAC 1098-Q: EDU #2549

Chris’s Summary Jim and I review the QLAC 1098-Q and walk through how this form reports premiums, fair market value, and contract status. We compare it to Form 5498, outline how the fair market value and excess annuity payments can be used under Secure Act 2 Section 205 with other IRAs, explore the age-85 and surviving-spouse reporting rules, and touch on listener PSAs about using QLACs as part of a broader self-funded long-term care approach. Jim’s “Pithy” Summary Chris and I use the QLAC 1098-Q as a way to show how the IRS keeps tabs on your QLAC and why that little form matters more than people think. I talk about it as the “kissing cousin” of Form 5498, walk through how box 3 tracks cumulative premiums against the current $210,000 lifetime limit, and explain how the fair market value and projected income give the IRS what it needs while also giving you the data to run the Section 205 strategy after Secure Act 2. Then I get into the strange rule that says the company only has to send 1098-Qs until age 85 or death for the original owner, contrast that with the different rule for a surviving spouse, and spell out why it could be a real problem if the insurer stops providing a usable fair market value once income has been turned on. We kick around how that interacts with the prohibition on DIY fair market value calculations, the inability to get a QLAC quote after age 85, and why advisors and clients are going to care which companies keep sending this information even when they technically don’t have to. On top of that, I read listener emails about using QLACs alongside self-funding long-term care and push back on the idea that you only insure things you are “sure” you’ll need. The post <a href="https://www.theretirementandirashow.com/podcast/the-qlac-1098-q-edu-2549/">The QLAC 1098-Q: EDU #2549</a> appeared first on <a href="https://www.theretirementandirashow.com">The Retirement and IRA Show</a>.

75 MIN

NOV 29, 2025

IRMAA Brackets and QLACs: Q&A #2548

Jim and Chris discuss listener questions on IRMAA brackets and several QLAC topics including RMD interaction, suitability, payout values, and purchase timing. (19:30) A listener wonders if their lower 2024 income will automatically reduce their 2026 IRMAA even though it doesn’t qualify for an SS-44, or if they must contact the SSA. (25:15) George asks whether going above certain income thresholds in 2025 could keep IRMAA lower in 2027 because of inflation adjustments. (34:30) The guys weigh whether QLAC income, once it begins, can offset RMDs on other IRA holdings. (54:00) Georgette wants to know who is a good candidate for a QLAC, how it is purchased, and which features to consider. (1:05:00) A listener seeks guidance on determining early- and late-start payout values for a QLAC and whether those values are fixed or variable. (1:10:15) Jim and Chris consider whether buying a QLAC earlier leads to higher payments at the same deferral age and what factors affect purchase timing. The post <a href="https://www.theretirementandirashow.com/podcast/irmaa-brackets-and-qlacs-qa-2548/">IRMAA Brackets and QLACs: Q&A #2548</a> appeared first on <a href="https://www.theretirementandirashow.com">The Retirement and IRA Show</a>.

80 MIN

NOV 26, 2025

QLAC Use Cases and Planning: EDU #2548

Chris’s Summary Jim and I discuss QLAC use cases in the context of retirement income planning and how the Treasury Department designed these annuities to function. We walk through when someone might consider using one, how the absence of cash value affects planning decisions, differences among providers on turning income on early, the impact of mortality credits on later-life payouts, and how QLACs can help stabilize the post-delay period for people focused on long-term secure income. Jim’s “Pithy” Summary Chris and I take a deeper dive into QLACs by taking what we talked about last week and looking closer at where these things might fit into a retirement plan. The Treasury Department set QLACs up with no cash value, which locks them straight into that verb-annuity world we often talk about. That design wasn’t about selling a new product—it came out of watching people’s IRAs get hammered in 2008 and realizing some retirees needed secure income for the older version of themselves. Like so much in retirement planning I see these products as part of the negotiation between the younger you and the older you. The younger you has to decide how much certainty you want in the years when your body and your mind aren’t running at full speed. I talk about that all the time: we are degrading, and it doesn’t take much—like me tripping on a hike—to be reminded of it. A QLAC is one way to make life easier for the older you by guaranteeing income that covers the Minimum Dignity Floor<img src="https://s.w.org/images/core/emoji/16.0.1/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> when you may not want to be making complex decisions. Some insurers let you turn income on earlier, some don’t, and those differences matter. Chris brings in sample quotes, and when you see what mortality credits can do in your 80s, you understand why people might actually consider using one. Not everyone needs a QLAC. A lot of you value flexibility and liquidity, and that’s exactly what you give up when you commit to something with no cash value. What I point out here is how easily the conversation around these annuities drifts into investment comparisons when that’s not what they’re built on. QLACs are insurance products, tied to longevity and mortality credits, and that’s the context they belong in. Understanding them inside that framework—what they can do, what they can’t, and how their structure differs from account-based assets—is the real goal of this discussion. The post <a href="https://www.theretirementandirashow.com/podcast/qlac-use-cases-and-planning-edu-2548/">QLAC Use Cases and Planning: EDU #2548</a> appeared first on <a href="https://www.theretirementandirashow.com">The Retirement and IRA Show</a>.

72 MIN

NOV 22, 2025

Social Security, IRMAA, ETFs, Private Investments: Q&A #2547

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 <a href="https://www.theretirementandirashow.com/podcast/social-security-irmaa-etfs-private-investments-qa-2547/">Social Security, IRMAA, ETFs, Private Investments: Q&A #2547</a> appeared first on <a href="https://www.theretirementandirashow.com">The Retirement and IRA Show</a>.

83 MIN

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