Social Security, IRMAA, IRA Distributions, Roth Contributions, Catch-up Contributions, and Inherited IRA RMDs: Q&A #2507

February 15, 2025

Social Security, IRMAA, IRA Distributions, Roth Contributions, Catch-up Contributions, and Inherited IRA RMDs: Q&A #2507

Jim and Chris discuss listener questions relating to Social Security benefits, IRMAA, IRA distributions, Roth contributions, catch-up contributions, and inherited IRA RMDs.

(6:30) George asks how inflation adjustments apply when a reduced Social Security benefit converts to a spousal benefit.

(13:45) The guys address whether the end of non-qualified deferred compensation qualifies as a life-changing event for IRMAA purposes.

(22:00) Jim and Chris discuss whether taking IRA distributions in a lump sum or spreading them out over time is the better approach for someone retiring at 63.

(35:45) A listener explores the idea of making an intentional excess Roth contribution then reevaluating their options before the extended tax filing deadline.

(54:45) The guys clarify the defined contribution limit and how catch-up contributions affect the total amount allowed.

(58:00) Jim and Chris answer whether RMDs on a recently inherited IRA must begin in 2025 or if the clock starts in 2026.

Podcast: Play in new window | Download (Duration: 1:11:49 — 32.9MB)

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