False Facts and Real Consequences: EDU #2509
The Retirement and IRA Show
Jim Saulnier, CFP® & Chris Stein, CFP®
4.3 • 729 Ratings
🗓️ 26 February 2025
⏱️ 57 minutes
🧾️ Download transcript
Summary
Chris’s Concise Summary:
Jim and Chris examine a recent Suze Orman article on inherited IRA rules, identifying key errors that could mislead readers. They clarify the nuances of the 10-year rule, explain how the required beginning date determines whether annual RMDs are necessary and why Roth IRAs don’t have required minimum distributions. The guys also emphasize the importance of verifying financial information before making decisions.
A note to listeners: Regular listeners know that Jim is always looking for ways to improve. The podcast is no exception, so some changes are coming in the EDU episode descriptions! In this space, between the usual basic summary (now called Chris’s Summary) and the new, more detailed, Jim’s Summary, you’ll soon find links to related articles, documents, and other resources that Jim and Chris believe may be useful or interesting to listeners.
Jim’s “Pithy” Summary:
The guys take a critical look at a recent Suze Orman article discussing inherited IRA rule changes for 2025, identifying inaccuracies that could mislead readers navigating these complex rules. One key issue they highlight is the claim that all inherited IRAs, including Roth IRAs, require annual RMDs under the 10-year rule. Jim and Chris explain why this is incorrect and clarify that the rules depend on whether the original account owner had reached their required beginning date before passing away. They break down how the “at least as rapidly” (ALAR) rule applies to inherited accounts when RMDs were already in progress, ensuring listeners understand the distinctions that many articles fail to address.
The conversation also dives into Roth IRAs, reinforcing that they do not have required minimum distributions during the original owner’s lifetime, which means beneficiaries are not required to take annual distributions. Instead, most non-spouse Roth IRA beneficiaries can allow the funds to grow tax-free and withdraw the full balance in the 10th year. Chris and Jim stress that financial publications often oversimplify these rules, leading to confusion and potential missteps for individuals managing inherited accounts.
In addition to dissecting the article’s errors, the guys discuss broader issues with financial media, including the need for thorough fact-checking and the risks of relying on clickbait-style headlines for retirement planning guidance. They express concerns that many widely shared articles fail to provide the necessary nuance, which could result in readers making uninformed decisions.
The post False Facts and Real Consequences: EDU #2509 appeared first on The Retirement and IRA Show.
Transcript
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| 0:00.0 | The retirement and IRA show represents the words and views of the show hosts exclusively and should not be construed as investment, legal, or tax advice. All information is believed to be from reliable sources. However, we make no representation as to its completeness or accuracy. All economic and performance information is historical in nature and is not indicative of any future results. Any indices mentioned on the show are unmanaged and cannot be invested indirectly. Diversification and asset allocation strategies do not assure profit or protect against loss. |
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| 0:26.9 | without first consulting your financial legal or tax advisor. |
| 0:29.7 | Financial planning services offered through Jim Solnior and Associates LLC, a registered investment advisor. |
| 0:47.3 | This is the retirement and IRA show coming to you from beautiful Northern Colorado. |
| 0:52.9 | Join us as certified financial planner Jim Sondier, as well as Colorado State University Finance instructor and certified financial planner Chris Stein, teach you about IRAs, |
| 0:58.4 | borough in case, annuities, social security, pension plans, and estate planning in a fun and enjoyable show. |
| 1:05.5 | Whether you are listening live in Colorado or streaming from their website or iTunes podcast, |
| 1:12.6 | Jim and Chris want you to know that they're available to help you plan for your retirement. Just visit their website at JimHelps.com. |
| 1:18.6 | That's Jim H-E-L-P-S dot com and click the Meet the Team button on the homepage. Now here's Jim and Chris |
| 1:26.3 | with today's show. |
| 1:34.8 | Well, welcome to the Retirement and IRA show, EDU edition for this week. |
| 1:41.7 | Today's show, we're going to entitle false facts and real consequences. |
| 1:44.5 | And we're going to set the record straight. |
| 1:52.5 | Jim's run across a couple of articles in his late-night reading sessions that he felt either gave just flat out false information or incomplete information that might lead you |
| 1:58.6 | to false conclusions. |
| 2:04.0 | And he's going to get into those articles here shortly when he joins us. We are trying out some new technology to let us |
| 2:11.4 | everybody know, in case there's any glitches. We're transcribing in a way these podcasts and getting a show summary and that sort of thing. |
| 2:21.6 | So hopefully that will show up when you see this episode post in your favorite podcast software. |
| 2:29.7 | But I'll invite Jim in. |
| 2:32.4 | Jim's back in Venice, Florida after his little trip to the Ed Slot |
| 2:36.7 | training session, which I believe was in Dallas, Texas. And we're not going to talk about that |
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