Insights & Strategies

Brad Pistole, Heather Schreiber, tax-saving strategies after age 70, Qualified Charitable Distributions, QCDs, Required Minimum Distributions, RMDs, donate up to $105,000 tax-free, IRA to charity, reducing taxable income, avoiding higher Medicare premiums, avoiding tax bracket jumps, RMDs begin at age 73, offset RMDs with QCDs, prevent unnecessary taxation, first withdrawal deemed RMD, QCDs before other distributions, maximize tax benefits.

Age 70 is a critical milestone for retirement planning, primarily because it marks the latest age to claim Social Security benefits.

Heather Schreiber and Brad Pistole discuss the crucial impact of age 63 on Medicare premiums due to the Income-Related Monthly Adjustment Amount (IRMAA), which is based on Modified Adjusted Gross Income (MAGI) from two years prior.

David Blanchett, a leading retirement researcher, discusses essential strategies for optimizing retirement income and mitigating risks such as sequence of returns risk.

Heather Schreiber breaks down the often-overlooked "Age 55 Rule," which allows individuals who separate from their employer at age 55 or later to withdraw from their 401(k) or 403(b) without incurring the typical 10% early withdrawal penalty.

Ed Slott discusses the 2024 tax law changes and their impact on retirement savings, emphasizing the need for proactive tax planning over simple tax preparation.

Heather Schreiber joins the discussion to break down the key retirement planning ages that individuals cannot afford to ignore.

Dr. Wade Pfau provides an in-depth look at reverse mortgages and their often-overlooked role in retirement planning.

Tom Hegna shares key insights from his book *Who Wants To Be A Millionaire*, emphasizing smart financial habits for building wealth and securing retirement income.