IRMAA Brackets, Social Security, Annuity Inflation, QCDs, Listener PSAs: Q&A #2636

Jim and Chris discuss listener emails on IRMAA brackets after a spouse's death, Social Security claiming and spousal benefits, annuities and inflation for a Minimum Dignity Floor™ shortfall, and a Qualified Charitable Distributio (QCD) funding a charitable gift annuity, followed by listener PSAs on expense tracking, home sale timing, and annuity flexibility.

(10:00) A listener asks which year's tax brackets and which filing status apply to the IRMAA two-year look-back following a spouse's death, and whether remarrying later would change the result.

(18:30) George asks whether claiming Social Security at Full Retirement Age rather than 70 makes more sense when a spouse is already receiving a small benefit that would step up to a spousal benefit.

(32:15) The guys respond to a question about how to account for future inflation when purchasing an annuity to cover a Minimum Dignity Floor™ (MDF) shortfall.

(1:02:15) Jim and Chris address a question about using a QCD from a traditional IRA that contains basis to fund a charitable gift annuity. The listener asks how the basis affects the reportable QCD amount, any charitable deduction, and the taxation of the lifetime income stream.

(1:11:30) Georgette shares a listener PSA on using a budgeting app to tag every transaction as either MDF or Fun in the years leading up to retirement.

(1:13:00) A listener offers a PSA recommending a different approach - similar to what Jim is doing - for the homebuyer from a previous episode.

(1:15:00) The guys share a listener PSA suggesting a 60-day leaseback at closing as a simpler alternative to the 60-day rollover for that same home purchase situation.

(1:19:30) Jim and Chris close with a listener PSA suggesting that an annuity purchased for fun spending could also serve as a partial source of MDF income later if it structured differently.