In this episode of  'Retire with Style' Alex and Wade continue answering your questions about the various aspects of retirement planning. Their conversation focuses on the implications of the Secure Act 2.0 on SPIA and RMD calculations, the legal responsibilities surrounding RMD miscalculations, strategies for protecting late-life income against inflation, optimizing Social Security payments, and the considerations for Roth IRA contributions versus distributions. They also emphasize the importance of understanding new regulations, legal implications, and financial strategies to ensure a secure retirement. Listen now to learn more!

Takeaways

• Understanding the new RMD rules can significantly impact retirement planning.


• SPIA payments can now be aggregated with IRA balances for RMD calculations.


• Legal advice may be necessary for resolving RMD miscalculations.


• Treasury Inflation-Protected Securities (TIPS) can help protect against inflation.


• Roth IRA contributions should ideally be made early in the year.


• Dollar-cost averaging can mitigate market volatility in distributions.


• Innovative financial products are emerging to address retirement income needs.


• Understanding the implications of the Secure Act 2.0 is essential for retirees.

Chapters

00:00 Strategies for Achieving a Funded Ratio

01:22 Understanding RMDs and SPIAs

12:28 Inflation Protection for Late Life Income

22:41 Optimizing Social Security Benefits

24:11 Investment Strategies: Lump Sum vs. Dollar Cost Averaging

32:07 Withdrawal Strategies: Constant Percentage vs. Variable Spending

Links

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ 

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”