Social Security, Robo-Advisors, Excess Contributions, 529 Plans, and RMDs: Q&A #2319

May 13, 2023

Social Security, Robo-Advisors, Excess Contributions, 529 Plans, and RMDs: Q&A #2319

Jim and Chris discuss listeners questions relating to Social Security, robo-advisors, excess contributions, 529 plans, and RMDs.

(6:45) A Californian listener wonders if she’s been missing out on a potential spousal Social Security benefit while delaying claiming her own personal benefit.

(17:15) George from Georgia asks what to do about the excess Social Security benefit that was paid into his recently deceased mothers bank account.

(25:15) A different listener in Georgia asks a couple of questions relating to a robo-advisor harvesting capital losses and custodian issues with excess Roth IRA contributions.

(47:15) George looks for clarification on the rules surrounding 529 ABLE plans for his special needs son and whether or not the funds can be rolled over into a Roth IRA given the circumstances.

(54:15) Georgette wonders if her annual SPIA income from an IRA can be used to offset her future RMD amount when she turns 73.

(1:06:00) George from Pennsylvania asks a very similar question to the one above regarding SPIA income offsetting RMDs owed.

Check out the background of firms and investment professionals on SEC’s Adviser Info Page.

Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Ed Slott Advisor recognition requires an advisor to be well versed on the rules and regulations regarding IRAs. The advisor must attend two live training sessions and pass two written exams annually to remain in the program. Jim Saulnier & Associates, LLC (“RIA Firm”) is a registered investment adviser located in Fort Collins, CO. Jim Saulnier & Associates, LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Current registered states: CA, CO, PA, TX, WA, IL Insurance products and services are offered and sold through James H. Saulnier, a Colorado licensed insurance producer, only in those states in which he is reciprocally licensed or qualifies for an exemption or exclusion from licensing requirements. Current reciprocal insurance licensing in these states: AZ, CA, CA, CN, FL, HI, IA, MA, MD, NY, PA, SC, TN, TX, VA, WA, WI, WY Click here for a more detailed disclosure.