Listener Voicemails: Social Security, Trusts, and IRA Math Mysteries

Big Picture Retirement

In this episode we’re answering listener voicemails and tackling some tough questions about Social Security, RMDs, estate planning, and more.

First up, we help Diane, whose husband is a minister, figure out why his Social Security benefits don’t include his housing allowance, even though he pays taxes on it. Then, we talk through a listener’s concerns about how changing the title on a brokerage account could affect the revocable living trust her parents set up.

We also explain how Required Minimum Distributions (RMDs) work and why the percentage you have to take out increases as you get older. Next, we respond to John H., who challenges our math on whether it’s better to withdraw an entire IRA at once or spread it out over 10 years. Finally, we offer advice to Richard, who’s looking for a new attorney to update his and his wife’s wills after losing contact with their original lawyer.

If you’ve ever wondered about Social Security, trusts, or retirement strategies, this episode is packed with practical tips and answers to common questions. Tune in and get the clarity you need for your retirement planning!

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Don’t miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary. https://www.carrolladvisory.com/pl/2148282517

Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and click on the “Ask A Question” menu selection.

Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.

Contact Devin’s team at https://www.carrolladvisory.com/

Contact John’s team at https://www.rossandshoalmire.com/