Retirement Toolkit: How Does Step Up in Cost Basis Work
About this episode
Roger Whitney discusses the challenges of information overload in retirement planning and explains the concept of stepped-up cost basis as a valuable estate planning tool.
This week Roger talks about one of the biggest challenges retirees face today: information overload. He explains why more information doesn't always lead to better decisions and why building a great retirement starts with focusing on what matters most to you. In the Retirement Toolkit, Roger unpacks stepped-up cost basis, covering how it works, when it matters, and how it can become a valuable estate planning tool. Along the way, he answers listener questions on retirement income strategies, cash reserves, government retirement accounts, and how to create a retirement plan that's both practical and personal. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN (00:00) Roger discusses how information overload can make retirement planning feel overwhelming and explains why simplifying your focus leads to better decisions. RETIREMENT TOOLKIT (08:20) Roger breaks down stepped-up cost basis, explaining how inherited assets receive a new tax basis at death, which assets qualify, how the rules differ for spouses, and how this strategy fits into estate and retirement planning. LISTENER QUESTIONS (21:20) Mike asks whether adding a whole life insurance policy is an effective retirement…
More episodes of Retirement Answer Man
- Retirement Toolkit: How to Rebalance a Retirement Portfolio
- Retirement Toolkit: How Required Minimum Distributions (RMDs) Work
- IRMAA: The Medicare Premium Surprise and How to Avoid It
- Mutual Funds vs. ETFs- Which is Better for Retirement?
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