Social Security, Gifting, Pensions, and Taxable Account Diversification: Q&A #2125

June 19, 2021

Social Security, Gifting, Pensions, and Taxable Account Diversification: Q&A #2125

Jim and Chris sit down to discuss listeners questions relating to Social Security, gifting of assets, pensions, and taxable account diversification.

(5:00) George from Los Angeles asks if contributing to a deferred compensation program lowers his Social Security earnings history.

(11:00) George from Connecticut looks for clarification regarding his sons Social Security disability benefits and the maximum on his own Social Security statement.

(19:45) A Colorado listener wonders about the most tax efficient way to transfer a home from his father-in-law down to his sister-in-law.

(28:00) A Wisconsin listener looks for advice on the ideal timing of his parents buying a cabin/lake house using assets within their retirement accounts.

(42:30) A Floridian asks about the best ways to try and diversify the tax impact of having too much money in “always-taxable” retirement accounts for someone in their 20’s and 30’s.

(51:30) A listener asks about having money in bank CD’s, money market accounts, or a traditional IRA.

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