Name a Beneficiary!
May 21, 2016
Yet another reason why it is important to name a beneficiary! Jim and Peter discuss an IRS Private Letter Ruling (PLR) that involves an instance where an IRA was left to an estate. Because of circumstances specific to this case the IRS allowed this IRA to be rolled over to an Inherited IRA, but things would have been a lot easier if the deceased had just named a beneficiary. Also, Jim and Peter...
Listen NowUsing QLACs
May 14, 2016
Jim and Chris have talked about QLACs (Qualified Longevity Annuity Contracts) before, but how do QLACs work in real life? During this show, Jim and Chris discuss practical, real-life examples of using QLACs as part of a retirement plan. This show discusses Qualified Longevity Annuity Contracts (QLAC) which are fixed insurance products. QLACs are offered for sale through Jim Saulnier and...
Listen NowIRA Questions
May 7, 2016
Jim and Chris answer IRA questions and Social Security questions from listeners. If you started contributing to a Roth IRA and then got a promotion at work that pushed you above the earnings limits for a Roth, what is the best thing to do with the funds you already contributed? If a 66 year old is still working and hasn’t filed for Social Security yet, can their 62 year old spouse file...
Listen NowWhat’s a QLAC (part 2)
April 30, 2016
A couple of weeks ago, Jim, Chris and Peter talked about QLACs (Qualified Longevity Annuity Contracts). This week Jim and Chris expand on that topic to discuss QLAC rules and restrictions and their limits and benefits. They also talk about what happens if you inherit a QLAC. This show discusses Qualified Longevity Annuity Contracts (QLAC) which are fixed insurance products. QLACs are offered for...
Listen NowSocial Security Spousal Benefits Are Not Going Away!
April 23, 2016
Social Security did make some changes that will go into effect at the end of April, but spousal benefits are not going away! The ability to file for your own benefit and suspend it so your spouse can then claim their spousal benefit is. Jim and Chris discuss this change and explain what’s really going on. They also discuss questions from listeners regarding backdoor Roth IRAs and whether...
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