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#144 - Q&A edition...Rule of thumb for retirement income needs, qualified vs ordinary dividends, Social Security taxation and MORE!

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Manage episode 473674312 series 3305727
Content provided by Andy Panko. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Andy Panko or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Listener Q&A where Andy talks about:

  • Whether the rule of thumb saying in retirement you'll need about 80% of what you were making in wages is on a gross or net of taxes basis ( 6:49 )
  • Understanding why some dividends are "qualified" and some are not, why they're taxed differently, and why dividends from bond funds aren't qualified ( 14:15 )
  • Whether the decision to start Social Security sooner vs later would change if Social Security were to no longer be federally taxable ( 22:09 )
  • Whether spouses can combine their 401(k) balances ( 27:03 )
  • What a Form 5498 is, and if you need it to do your tax return, considering it often isn't available until after April 15th ( 30:27 )
  • If you can still make a 2024 Roth IRA or traditional IRA contribution in early-2025 ( 31:40 )
  • Whether you can make a contribution to a Roth IRA via transferring shares "in-kind" from a brokerage account ( 37:23 )

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

  continue reading

157 episodes

Artwork
iconShare
 
Manage episode 473674312 series 3305727
Content provided by Andy Panko. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Andy Panko or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Listener Q&A where Andy talks about:

  • Whether the rule of thumb saying in retirement you'll need about 80% of what you were making in wages is on a gross or net of taxes basis ( 6:49 )
  • Understanding why some dividends are "qualified" and some are not, why they're taxed differently, and why dividends from bond funds aren't qualified ( 14:15 )
  • Whether the decision to start Social Security sooner vs later would change if Social Security were to no longer be federally taxable ( 22:09 )
  • Whether spouses can combine their 401(k) balances ( 27:03 )
  • What a Form 5498 is, and if you need it to do your tax return, considering it often isn't available until after April 15th ( 30:27 )
  • If you can still make a 2024 Roth IRA or traditional IRA contribution in early-2025 ( 31:40 )
  • Whether you can make a contribution to a Roth IRA via transferring shares "in-kind" from a brokerage account ( 37:23 )

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

  continue reading

157 episodes

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