#210 - Q&A edition...Mega backdoor Roth contributions, nonqualified annuities, exceptions to the IRA early withdrawal penalty, when to hire an advisor, how much is too much to pay for an advisor and MORE!
About this episode
Andy Panko answers listener questions on various retirement planning topics.
Listener Q&A where Andy talks about: Are tax return amendments needed if info from a 1099-R was left out but doesn't impact the return's gross or taxable income ( 4:08 )What are the pros and cons of using average cost basis tracking for mutual funds ( 8:36 )Tax implications of nonqualified annuities and surrendering vs annuitizing it ( 13:55 )Is there a more optimized way to pay taxes on in-plan Roth conversions as opposed to having additional taxes withheld from your paycheck ( 23:...
People in this episode
Host: Andy Panko
Topics covered
- Mega backdoor Roth contributions
- nonqualified annuities
- IRA early withdrawal penalty
- hiring an advisor
- advisor fees
Keywords
- tax return amendments
- average cost basis tracking
- tax implications
- in-plan Roth conversions
- advisor hiring
Mentioned in this episode
Organizations: IRA, Roth, mutual funds, nonqualified annuities
More episodes of Retirement Planning Education, with Andy Panko
- #213 – "Real" person retirement planning chat with Tom
- #212 - "Hot topics" edition...Andy and Tanya Nichols talk about having mortgages in retirement, when to start spending down HSAs, what might happen to Social Security and MORE!
- #211 – 8 common tax planning mistakes often made in retirement
- #209 – "Real" person retirement planning chat with Mark Ross from the Rock Retirement Club
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