Andy and Justin Pritchard from Approach Financial share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:

• The pros and cons of target date funds ( 11:05 )
• Their thoughts on the recent presidential executive order allowing private and illiquid investments to be offered inside 401(k) plans ( 23:26 )
• Can you make up for insufficient retirement savings by investing more aggressively ( 31:51 )
• Understanding your advisor's succession plan and how to try to make the succession transition successful for you ( 39:35 )
• Things to consider when firing an advisor or changing advisors ( 46:39 )
• Whether people should consider getting a living/revocable trust ( 56:22 )
• Things to consider if you're looking to hold cash in banks in currencies other than US Dollars ( 59:53 )

Links in this episode:

• Justin's firm - Approach Financial
• Justin's YouTube channel - Justin Pritchard, CFP® on Retirement

To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

• My company newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com

Andy summarizes some helpful IRS tools and interesting IRS and tax return-related information after his recent attendance at the annual IRS Tax Forum/conference

Links in this episode:

• IRS Taxpayer Online Account - here
• ID.me - here
• IRS IP PINs - here
• IRS Document Upload Tool - here
• IRS Interactive Tax Assistant - here

• Tenon Financial monthly e-newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com

To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

Listener Q&A where Andy talks about:

• How to account on your tax return for the basis in inherited IRAs ( 7:00 )
• Is having large Required Minimum Distributions ("RMDs") really a bad thing ( 12:04 )
• Is there any merit to using a break-even analysis to help decide when to start Social Security ( 15:59 )
• When does it make sense for someone to consider working with a financial advisor ( 18:14 )
• Are Roth contribution and conversion rules the same across all of the various types of employer retirement accounts like 401(k)s, 403(b)s, TSP, etc. ( 26:18 )
• Are there separate five-year holding periods for Roth conversions done in employer retirement plans ( 27:37 )
• Do in-plan Roth conversions each have their own five-year holding period to waive the 10% early withdrawal penalty ( 30:36 )
• Can Roth conversions be done before taking any distributions or doing Qualified Charitable Distributions ("QCDs") in the year someone turns RMD age ( 31:49 )
• If receiving Restricted Stock Units ("RSUs") or deferred compensation in years after you stop working, is that considered earned income eligible for making Roth IRA contributions ( 34:38 )
• Does taking a really large Health Savings Account ("HSA") distribution make you a higher audit risk in the eyes of the IRS ( 39:19 )
• Is there a way to invest in broad stock market exposure but without the ongoing dividends such index fund pay out ( 42:27 )
• Does the progress toward meeting the five-year rule within an employer Roth retirement plan port over to a Roth IRA or other employer Roth plans when doing a rollover, or vice versa ( 46:08 )
• How to plan and account for an inheritance that a person is rather certain to receive, but the timing of receiving it isn't certain ( 49:43 )

To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

Links in this episode:

• My company newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com