Retirement Planning Education, with Andy Panko

Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Alison (last name not disclosed). They talk about a wide array of retirement planning topics such as the unique planning considerations of having a spouse who's nearly 10 years younger and how an unexpected major medical condition a few years ago resulted in her being on long term disability, presumably through when she starts Social Security. They also talk about about what she wishes she would have known earlier and a variety of financial topics such as Social Security, how they got a late start in getting serious about saving for retirement and more!
Links in this episode:

• Tenon Financial monthly e-newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com

To send Andy questions to be addressed on future Q&A episodes, email [email protected]

Andy chats with real people (not advisors) doing their own retirement planning. In this episode, Andy talks with Ali & Alison Walker, who live in Arizona currently but lived and traveled abroad for a few years after retiring. They talk about a wide array of retirement planning topics such as when Ali & Alison started getting serious about retirement planning, what they wish they would have known earlier, how they planned for the non-financial aspects of retirement, and a variety of financial topics such as Social Security, investing, portfolio distributions, how they plan to address any potential long term care scenarios and more!
Links in this episode:

• Ali & Alison's website - All Options Considered
• Better Investing organization - here
• Tanja Hester's Our Next Life blog - here
• Tenon Financial monthly e-newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com

Andy chats with fellow retirement planner Angie Furubotten-LaRosee CFP®, from Avea Financial Planning. In this episode they talk about a wide array of retirement planning topics such as tax planning, distribution strategies, investing, annuities, long-term care insurance, how to help advise people who are spending more than planned, what consumers often overlook in retirement planning and much more!
Links in this episode:

• Angie's company's website - Avea Wealth Management
• Angie's "Questions to ask...when choosing a financial planner"
• Michael Kitces content - here
• International Living Magazine - here
• Women of Influence Toastmasters Club - here
• Tenon Financial monthly e-newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com

I'm a buffoon and I missed including another important pro of doing an employer plan-to-IRA rollover in episode #110's list of pros and cons of rollovers. The additional potential pro is the ability to do Qualified Charitable Distributions ("QCDs") out of the IRA if you're at least 70 1/2 and charitably inclined.
So, the recap the full list of pros (including QCDs) and cons of doing an employer plan-to-IRA rollover:
Potential PROS of rolling over an employer plan to an IRA or Roth IRA:

• More investment options
• Likely lower fees and costs
• Access to professional advice
• Better control over tax withholdings
• More withdrawal options
• Less Required Minimum Distributions ("RMDs") to manage
• Less financial clutter
• Gain the ability to do Qualified Charitable Distributions ("QCD")

Potential CONS of rolling over an employer plan to an IRA or Roth IRA:

• May lose the ability to take early distributions without penalty
• May lose the ability to cleanly do backdoor Roth IRA contributions
• May lose the ability to continue to delay RMDs from that plan (if you're still working at that employer)
• Lose the ability to take loans from the money
• May lose the ability to take advantage of Net Unrealized Appreciation ("NUA") of company stock
• May lose access to a stable value or managed income portfolio investment option
• Potentially less creditor protection

Links in this episode:

• Tenon Financial monthly e-newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com

To send Andy questions to be addressed on future Q&A episodes, email [email protected]

Listener Q&A where Andy talks about:

• How to choose a brokerage firm/custodian to use ( 3:00 )
• How frequently to rebalance your portfolio ( 11:46 )
• Annual 401(k) contribution limits between employee and employer contributions ( 14:55 )
• Understanding gift taxes, when a gift tax return is required, the lifetime gift/estate size exemption and the annual gift exclusion ( 19:08 )
• The two different 5-year rules for Roth IRAs ( 24:03 )
• How mortgages or home equity lines of credit play into how much of the gain on the sale of your primary residence can be excluded ( 28:43 )

Links in this episode:

• My YouTube video - Understanding Roth IRA Withdrawal Rules
• My Podcast episode - Understanding the $250k or $500k gain exclusion on selling your primary residence
• My company newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com