Medicare, Social Security, and FIRE Early Retirement - 348

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 19 October 2021

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

How to calculate modified adjusted gross income (MAGI) for Medicare IRMAA, Social Security benefits when you’re planning to FIRE (Financial Independence / Retire Early), family Social Security benefits for those with minor children, and a strategy to qualify for the Obamacare ACA subsidy. Plus, Roth conversions prior to early retirement, and untangling stock options, long-term incentives (LTI), and restricted share units (RSU). Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-348

Transcript

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0:00.0	It's all calculations and acronyms today on Your Money, Your Wealth podcast number 348.
0:06.3	PDQ here on YMIW, Joe and Big Al will explain how to calculate your Maji for Irma.
0:12.7	That is, your modified, adjusted gross income for the Medicare income-related monthly adjustment amount.
0:19.0	Plus, how to calculate your social security benefit when you're
0:21.7	planning to fire, that is, reach financial independence and retire early, and calculating your
0:27.0	family social security benefit and a strategy for the Obamacare subsidy. Plus, doing Roth conversions
0:33.2	prior to early retirement and untangling stock options, LTIs, and RSUs. Those are long-term
0:39.7	incentives and restricted stock units. Now let's get into it ASAP. I'm producer Andy Last and here
0:45.8	are the hosts of your money, your wealth, Joe Anderson, CFP, and Big Al Clopine, CPA.
0:52.9	Robert, he writes in from Minneapolis, Minnesota.
0:57.5	Just got back from Minneapolis, Minnesota, Big Al.
1:00.5	I know you did.
1:01.2	You had some family time.
1:03.6	Some, you know, some a little bit sad, but some happy, right?
1:06.3	Yeah.
1:07.0	Funeral and a wedding.
1:08.4	Yeah.
1:08.9	Sounds like a movie.
1:09.9	I know.
1:10.5	It was. Trust me. It was definitely Wedding. Yeah. Sounds like a movie. I know. It was.
1:10.9	It was definitely a movie.
1:14.9	But yeah, it was nice to see some fans.
	...

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