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

Retirement Planning Education, with Andy Panko

Andy Panko

Annuities, Taxes, Ira, Retirement Planning, Social Security, Roth Ira, 401k, Pension, Investing, Financial Planning, Roth Conversion, Tax Planning, Education

2.4 • 671 Ratings

🗓️ 27 March 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 )Whet...

Transcript

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0:00.0	Time for another Q&A episode where today I'll be talking about the rule of thumb about only needing 80% of your wages in retirement, questions about qualified dividends, questions about social security taxation, whether or not you can transfer a 401K from one spouse to another, and much more in this, the 144th episode of the Retirement Planning Education Podcast.
0:22.2	Welcome to the Retirement Planning Education Podcast. Welcome to the Retirement Planning Education Podcast, where you can learn all about
0:26.6	IRAs and Roth IRAs, employer retirement plans, taxes, Social Security, Medicare,
0:32.4	portfolio withdrawal strategies, annuities, estate planning, and much more. And now here's your host, Andy Panko.
0:39.6	Hello, all you fine folks. Welcome back. Thank you as always for listening. Today is another
0:44.4	Q&A episode, otherwise known as questions and answers. I did receive a handful of questions that
0:51.0	some of you sent in through email. Thank you to Andy at
0:55.0	Andypanco.com. Thank you very much for that. Always appreciated it. And I pulled a few ones from
1:00.1	Mr. Dave Fultz, one of the other moderators in the Facebook group who sent me a question.
1:04.8	And then I also, as I often do, randomly pulled some questions from the Facebook group.
1:09.5	There's a nonstop flow of really good
1:12.1	questions from people there. And I just sort of screen through and pull some that I think would
1:16.1	be interesting or relevant to talk about. Some of them today are actually timely as they relate to
1:22.4	tax returns. Here we are. This podcast is coming out the end of March 2025, so another few weeks
1:27.9	before tax return deadline is upon us. So there's some questions related to the tax return,
1:35.0	some timing elements around tax returns and some other stuff like that. So I thought
1:38.2	it might as well pull some of these and talk about them because it is relevant and timely
1:41.8	in case this pertains to you.
1:50.4	I wanted to share the BGS or Big Goofy Smile moment of the week.
1:54.2	And for those who don't know, if you're a new listener to the podcast, first of all, welcome.
2:03.6	The BGS or Big Goofy Smile is something that a client of mine just randomly told me at some point last year she was at work and the window was cracked open or something and she could hear the the high school marching band
2:08.5	practicing like blocks away you know the sound was kind of like wafting through the air and catching
	...

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