Podcasts Business Investing Your Money, Your Wealth 4 Retirement Plan Loopholes That Could Close Soon - 20

4 Retirement Plan Loopholes That Could Close Soon - 20

Published: April 9, 2016, 6 p.m.

Original publish date April 9, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed.\xa0In episode 20 of the YMYW podcast, Big Al and Joe share four retirement account loopholes that could close soon. Plus, what you need to know about the recent changes to Social Security and how that could have a huge impact on your retirement.

00:00 - Intro

01:54 - \u201cYou don\u2019t have to sell your stocks when you do a required distribution\u201d

03:53 - \u201cIf you have saved a lot of money in your retirement accounts, you have to start pulling it out starting at age 70 \xbd\u201d

06:44 - \u201cWe think Roth IRA planning is significant, because if you can control the amount of money that is tax-deferred that will come out as ordinary income versus tax-deferred that will come out tax-free, those are two different animals\u201d

11:14 - \u201cThe government is changing the rules on how you can claim your [Social Security] benefits, and the deadline is just around the corner\u201d

14:10 - \u201cIf you turned 62 years old by 12/31/16, you still qualify to take a restricted application\u201d

21:24 - \u201cThe longer you wait [to retire], the better off you\u2019ll be from an income standpoint\u201d

26:19 - \u201cYou have more control over how much you pay in taxes in retirement than any other time in your life\u201d

34:53 - \u201cTaxes don\u2019t stop when your paycheck does, and a lot of people don\u2019t realize that\u201d