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Big Picture Retirement®

#020: Listener Questions about Moving IRAs back into a 401k, and Social Security for Grandkids raised by Grandparents

Big Picture Retirement®

Devin Carroll

News, Business News, Investing, Business

4.7546 Ratings

🗓️ 15 May 2017

⏱️ 18 minutes

🧾️ Download transcript

Summary

Linda and her husband have been raising their grandchildren since birth. Both of the children's parents are alive. Do the grandchildren qualify for Social Security?
 
Clyde asks if there is any situation where you would roll an IRA into a 401k? It is an unusual situation when this makes sense. Listen in to find out more.


Notes from today's show can be found at http://www.bigpictureretirement.net

Transcript

Click on a timestamp to play from that location

0:00.0

The Big Picture Retirement Show does not provide specific tax, legal, or financial advice.

0:05.1

Listeners are encouraged to seek out their own advisors in these areas.

0:12.9

Hello everyone and welcome to the Big Picture Retirement Show, where we deliver insight on what you need to know for a meaningful and successful retirement. If you are

0:23.1

planning for or living in retirement, this is the show for you. Hey, I'm Devin. Back in today with

0:29.8

John, my co-host. Hey, John. Howdy? All right. Once a month, we do these listener questions.

0:35.4

A lot of fun. We get to go through. For me, it's all of the flagged emails that I've had come in that I'll go through and pick one that I think has some broad appeal. And you just pull stuff out of that cavernous knowledge that you have in your head of people that have asked you questions. Sure. Let's get this kicked off. right bath and no seatbel always put your mask on

0:56.6

those people are assisting another customer or check okay john so let's take the first question

1:03.3

from linda she sent me an email and now that i'm looking at this i haven't responded to it yet

1:10.0

what i typically do for those of you

1:12.1

listening, is I get emails all the time. And if I think they're going to have a broad appeal,

1:16.7

I'll flag those emails and answer those later. Unfortunately, I just can't respond to all of them.

1:22.6

I mean, some days, you know, I'll get a dozen emails from people wanting to know usually something about social security.

1:28.6

So she said, my husband and I have been raising our grandchildren since birth.

1:32.5

Do my grandchildren qualify for social security?

1:34.9

Both of the parents are alive.

1:36.5

So she provided that little tidbit of information.

1:39.4

But she didn't give me all the information that I need.

1:42.2

So here's the basic roles.

1:44.5

Grandkids can get social security benefits off of a grandparents' record.

1:48.9

But there's a couple of criteria that have to be met.

1:52.0

First, they have to be your dependent.

1:55.0

Now, that's easy enough, right?

...

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