Explore every episode of the podcast Retirement Planning Education, with Andy Panko
Dive into the complete episode list for Retirement Planning Education, with Andy Panko. Each episode is cataloged with detailed descriptions, making it easy to find and explore specific topics. Keep track of all episodes from your favorite podcast and never miss a moment of insightful content.
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Title
Pub. Date
Duration
#224 - The basics of bonds: what they are, how they work, and how to use them in retirement planning
01 oct. 2026
01:27:22
Andy discusses the basics of bonds, including:
Basic features and functions of bonds
The risks in bonds
Bond issuers and maturities
How bonds can be used
How and why bond prices changes, and how interest rates impact prices
#223 - Q&A edition...the 4% rule, Artificial Intelligence and the planning world, RMDs vs annuity income, TIPS, and MORE!
24 sept. 2026
01:00:01
Listener Q&A where Andy talks about:
Follow up thoughts on a previous question about whether it's better to use $27k of cash to make a mega backdoor Roth contribution, or to do a $100k in-plan Roth conversion and use the $27k to pay the taxes on it ( 4:01 )
Why the 4% rule isn't called the 3% rule, when working with an advisor who charges 1% of assets under management ( 13:52 )
His thoughts on how Artificial Intelligence might impact the advisory world with regards to service offerings and fee structures ( 17:25 )
Similarities and differences between Required Minimum Distributions ("RMDs") and annuity income ( 22:56 )
A few questions about Treasury Inflation Protected Securities, or TIPS: how they might fit into a retiree's portfolio, how to choose the length of maturity, if there is a minimum yield one should target to justify it, and thoughts on deciding what allocation to use between TIPS and equities ( 26:24 )
Social Security claiming thoughts for a married couple where one spouse doesn't have any earnings history or Social Security benefit of their own; should the other spouse not delay starting their benefit so the other spouse can start spousal benefits sooner? ( 39:56 )
If investing money for your child, how to decide between funding a Trump account or a Roth IRA ( 45:38 )
Whether Roth conversions would still make sense if you have to pay tax via distribution and withholding out of the conversion, instead of paying the tax out of "outside" funds such as cash from bank or brokerage accounts ( 50:15 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#222 - All about pensions...what they are, how they work, how to decide between taking lifetime payments or a lump sum, and MORE! [replay of Andy's appearance on the Catching up to FI podcast]
17 sept. 2026
01:44:19
In this replay of Andy's recent guest appearance on the Catching up to FI podcast, Andy and hosts Bill Yount, MD, and Jackie Cummings Koski, CFP®, AFC®, talk all about traditional defined benefit pensions. What they are, how they work, how to decide between taking payments vs a lump sum and much more!
#221 - Retirement planner chat with Ryan Langan from Your Path Fi
10 sept. 2026
01:36:47
Andy chats with fellow retirement planner Ryan Langan, CFP®, from Your Path Fi. In this episode they talk about a wide array of retirement planning topics such as tax planning, distribution strategies, investing, annuities, long-term care insurance, what consumers often overlook in retirement planning and much more!
#220 - How to move to a new state...tax compliantly
03 sept. 2026
01:24:49
Andy discusses what all is involved in moving to a new state, from a tax perspective...properly changing your "domicile" and "residence" to the new state. Spoiler alert: It's not necessarily as simple as buying a house and spending at least six months and a day in the new state!
Links in this episode:
My in-depth write-up of changing state domicile and residence, examples and court cases of people who did and didn't properly change their domicile and residence, and more! - How to move to a new state...tax compliantly
#219 - Q&A edition...paying down a mortgage vs paying tax on Roth conversions, Social Security survivor benefits, converting ALL pre-tax money to Roth, updating account beneficiaries, and MORE!
27 août 2026
01:05:26
Listener Q&A where Andy talks about:
Whether to use money in a 457b to pay down a mortgage or to pay taxes on Roth conversions ( 7:56 )
How Social Security survivor benefits work, and the optimal ages for spouses to each claim their own Social Security ( 18:54 )
His thoughts on why the Social Security trust fund hasn't been allowed to invest in equities ( 25:36 )
Creating spreadsheets to replace financial planning software, and using it to help your ongoing retirement planning and projections ( 30:40 )
His thoughts on whether someone should try to convert ALL of their pre-tax money to Roth ( 36:56 )
Transferring/rolling money from an IRA to an HSA (Health Savings Account) ( 46:05 )
Whether you have to start Medicare Part A if you start Social Security but are still covered by a spouse's employer's health insurance ( 49:18 )
Updating beneficiaries on investment accounts after one of the beneficiaries passes ( 53:17 )
His thoughts on whether comparing a portfolio's investment returns to those of the S&P 500 is appropriate, and whether it's okay to hold bonds as investments ( 58:22 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#218 – "Real" person retirement planning chat with Mark
20 août 2026
01:41:45
Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Mark. They talk about a wide array of retirement planning topics such as when he started getting serious about planning for retirement, how he got comfortable going from accumulation to decumulation mode, how he and his wife are navigating health insurance prior to Medicare eligibility, why he randomly showed up in Andy's office one day, and more!
#217 - Q&A edition...unrealized gains in brokerage accounts, variable withdrawal strategies, unused 529 funds, protecting against fraud from advisors and MORE!
13 août 2026
01:09:18
Listener Q&A where Andy talks about:
How to sell and rebalance positions in a brokerage account when they have unrealized gains and you're trying to be tax-efficient about it ( 7:06 )
His thoughts on a few different variable portfolio withdrawal strategies, namely Amortization Based Withdrawals ("ABW"), Total Portfolio Allocation Withdrawals ("TPAW") and Big ERN's CAPE-based approach ( 14:10 )
Converting to a Roth IRA money you plan on spending in the near-term, instead of outright distributing it to your bank or brokerage account to be spent from there ( 23:18 )
Whether doing Roth conversions or backdoor Roth contributions are ultimately the same thing from a tax planning perspective ( 28:02 )
His thoughts on deciding which type of advisor and/or advisory fee model might make the most sense for you when considering the potential fees to be paid to an advisor over a lifetime ( 33:41 )
At what point should you just take out unused 529 funds and pay tax and penalty on the gains, assuming you have no expectation they'll eventually get to be used for qualified education expenses ( 40:15 )
Potential ideas for small or solo advisory firms to establish a succession plan in the event of the death or incapacitation of the advisor ( 45:26 )
What to look for in an advisory relationship to help minimize the risk of the advisory committing fraud with your money ( 50:50 )
Whether to live off cash for multiple years - assuming you have saved that much cash - or instead pull from your investment accounts ( 56:53 )
His thoughts on Securities Backed Lines of Credit, or SBLOCs, from brokerage firms ( 1:00:35 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#215 - Summary of the 2026 annual Social Security trustees report
30 juil. 2026
00:55:15
Andy summarizes the recent 2026 annual Social Security trustees report, including what it would actually mean if the system's trust fund were to deplete, and what changes can be made to ensure that doesn't happen
Links in this episode:
The full 2026 Social Security trustees report - here
Summary of the recently proposed PROMISE Act - here
The recent episode of Inspired Money with me, Wade Pfau and Mary Beth Franklin discussing all things Social Security - here
#214 - Q&A edition...Roth conversions, directionality vs precision, separately managed accounts, tax return extensions and MORE!
23 juil. 2026
01:08:30
Listener Q&A where Andy talks about:
Should Roth conversion analysis look at marginal or effective tax rates ( 4:21 )
His thoughts on why qualified Roth account distributions might eventually be included in certain measures of Modified Adjusted Gross Income ("MAGI") ( 8:28 )
What other MAGIs are potentially impacted and should be watched out for with doing Roth conversions ( 12:38 )
The difference between "directionality" and "precision" in retirement planning ( 20:40 )
Is it reasonable for an advisor to charge you extra for outsourcing some of their investment management to a separately managed or sub-managed account ( 25:38 )
His thoughts of reinvesting a deferred compensation plan to all cash when the plan will soon begin paying out its deferred payments ( 29:34 )
His thoughts on using multiple dividend and fixed income funds to create a "high income sleeve" for near-term distribution needs ( 35:25 )
Whether it's accurate that you can indirectly file a tax return extension simply by making an online tax payment and select "extension" as the reason for the payment ( 39:05 )
Can a minor with less than $400 of self-employment income not file a tax return yet still be eligible to contribute to a Roth IRA ( 44:56 )
How he helps clients balance Fear of Missing Out ("FOMO") and Fear of Running Out ("FORU") ( 52:04 )
How much of his planning work with clients is computational vs psychological ( 54:42 )
His thoughts on the gamification of investing, and the prediction markets ( 58:11 )
Why there are so many different funds like buffered ETFs and option trading ETFs, at higher expense ratios, when many can just invest in a few basic low-cost ETFs ( 1:00:36 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#213 – "Real" person retirement planning chat with Tom
16 juil. 2026
01:17:25
Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Tom. They talk about a wide array of retirement planning topics such as when he started getting serious about planning for retirement, why he went back to work as a consultant a year after retiring, why their plans of relocating to a different state have since changed, what his Roth conversion plan is, and more!
#212 - "Hot topics" edition...Andy and Tanya Nichols talk about having mortgages in retirement, when to start spending down HSAs, what might happen to Social Security and MORE!
09 juil. 2026
01:38:05
Andy and Tanya Nichols from Retire Agile share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
How we help clients get over the hurdle of actually spending their savings ( 10:27 )
Their thoughts on having mortgages in retirement ( 22:27 )
What they think is likely to happen to the Social Security system, and what changes might be made in advance of the trust fund depleting in a few years ( 34:56 )
When people should start spending down their Health Savings Accounts, or HSAs ( 44:10 )
Some state-specific tax planning considerations to keep in mind ( 53:07 )
Their thoughts on living/revocable trusts, when they're needed, when they're not, etc. ( 1:03:12 )
Alternatives to bond for people looking for investments that sit between the volatility and growth potential of stocks, and the stability and principal protection of cash and cash equivalents ( 1:16:39 )
#211 – 8 common tax planning mistakes often made in retirement
02 juil. 2026
01:13:33
Andy discusses common tax planning mistakes often made in retirement. Additionally, he shares insight on how to attempt to prevent such mistakes, and/or fix them after they've happened
The 8 common mistakes are:
Not paying enough income tax timely throughout the year, and having underpayment penalties as a result
Missing or not taking the correct amount of Required Minimum Distributions (“RMDs”)
Having improper beneficiary designations
Not properly applying Roth account withdrawal rules
Not understanding IRA “basis” and the pro rata rule
Not being as tax-efficient as possible with charitable giving
Not managing Modified Adjusted Gross Income (“MAGI”)
Not planning for state-specific income tax considerations
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#210 - Q&A edition...Mega backdoor Roth contributions, nonqualified annuities, exceptions to the IRA early withdrawal penalty, when to hire an advisor, how much is too much to pay for an advisor and MORE!
25 juin 2026
01:09:36
Listener Q&A where Andy talks about:
Are tax return amendments needed if info from a 1099-R was left out but doesn't impact the return's gross or taxable income ( 4:08 )
What are the pros and cons of using average cost basis tracking for mutual funds ( 8:36 )
Tax implications of nonqualified annuities and surrendering vs annuitizing it ( 13:55 )
Is there a more optimized way to pay taxes on in-plan Roth conversions as opposed to having additional taxes withheld from your paycheck ( 23:21 )
Thoughts on using "reverse budgeting" to figure out how much you spend, instead of manually adding up all of the line items of actual expenses you have ( 28:28 )
How to properly report on your tax return a disability exception to the 10% IRA early withdrawal penalty if the custodian won't reflect the exception on the 1099-R ( 34:31 )
How much is too much to pay a financial advisor who charges a percent of assets under management, and thoughts on only rolling some of a 401(k) to an advisor and managing the rest on your own ( 40:23 )
Options/insurance to help cover expenses for dental, vision, and hearing since traditional Medicare doesn't cover those things ( 47:46 )
When to consider getting a financial advisor (or at least getting a one-time financial plan done) ( 52:06 )
How to properly report on your tax return a SEPP (Substantially Equal Periodic Payment) exception to the 10% IRA early withdrawal penalty if the custodian won't reflect the exception on the 1099-R ( 58:00 )
Thoughts on retiring from Oklahoma to a high cost of living place like New York City (to be near kids and grandkids) ( 1:02:02 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#209 – "Real" person retirement planning chat with Mark Ross from the Rock Retirement Club
18 juin 2026
01:27:15
Andy and Mark Ross from the Rock Retirement Club talk about Mark's journey in retiring to become an "encorepreneur" by starting a coaching business, and spending more time creating art. They also address some of standard "real person" planning questions such healthcare before Medicare, Social Security claiming, the emotional transition to leaving the corporate world, and more!
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#208 - "Hot topics" edition...Andy and Adam Grossman talk about analyzing annuities, retiring to a different state, bonds vs bond funds, inflation and MORE!
11 juin 2026
01:41:30
Andy and Adam Grossman from Mayport Wealth Management share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
How to analyze an existing annuity and whether to keep it, exchange it to another annuity or surrender it ( 11:44 )
The different things to factor in when considering retiring to a different state ( 23:18 )
What to do with your investments regarding concerns about the U.S.'s national debt, potential inflation, potential market declines, etc. ( 33:41 )
How much to try to optimize moving around cash balances between savings accounts, money market funds, Treasury Bills, CDs, etc. to try to maximize the amount of interest you can get ( 43:44 )
Their thoughts on individual bonds vs bond funds, what we use, and why ( 54:27 )
How we handle and implement inflation assumptions when doing financial planning with clients ( 1:05:37 )
Their thoughts on how Artificial Intelligence may impact financial planning, both as advisors and as consumers ( 1:12:55 )
What to make of illustrations for permanent life insurance policies, how reliable those illustrations are, when to consider buying permanent life insurance, when not to buy permanent life insurance, etc. ( 1:19:48 )
#207 – Roth conversion analysis: more than meets the eye
04 juin 2026
01:18:54
Andy discusses the various areas of consideration and analysis that go into deciding whether Roth conversions might potentially be of value. Furthermore, he explains why it's impossible to actually quantify how much tax savings, if any, Roth conversions might potentially create. And what to consider when figuring out how much to convert in any given year
Links in this episode:
Vanguard's "Break Even Tax Rate" Roth conversion analysis white paper - here
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#206 - Q&A edition...Social Security spousal benefits, tax withholdings on Social Security, bonds vs bond funds, separating basis out of IRAs and MORE!
28 mai 2026
00:54:40
Listener Q&A where Andy talks about:
Claiming your own Social Security benefit at 62 and then later switching to collecting a spousal benefit after your spouse starts their benefit ( 5:45 )
It's said by comedians that there are just a small number of basic jokes and everything else is just a variation. The same could be said about financial planning, where there are just a few core topics, and everything else is a variation on a core topic ( 11:18 )
What is meant when it's said the stock market is a "complex adaptive system," and that it's movement is a "random walk" ( 14:08 )
How to determine how much tax to withhold from your Social Security payments ( 17:34 )
Why many flat fee financial advisors who focus on working with retirees only work with people whose net worth is generally no more than $10 million ( 21:22 )
Bonds vs bond funds, and the pros and cons of using each for money that you plan on needing in three years, for example ( 29:23 )
An example of removing "cream from the coffee" with regards to after-tax contributions or basis in traditional IRAs, so you can convert just the after-tax contributions without the pro rata rule making some of that conversion taxable ( 33:44 )
Participating in fully paid securities lending programs at your brokerage custodian, where the custodian will borrow some of your securities out of your account and pay you some interest for doing so ( 41:50 )
Thoughts about rolling over an HSA from one custodian to another, and whether it's better to do a direct custodian-to-custodian transfer (even if the money is out of the markets for a few weeks), or an indirect 60-day rollover (which will likely be processed and reinvested faster) ( 48:10 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#205 – "Real" person retirement planning chat with Daryl
21 mai 2026
01:05:52
Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Daryl. They talk about a wide array of retirement planning topics such as when he started getting serious about planning for retirement, how he's gotten comfortable spending from his nest egg, what he's doing for health insurance since he's not yet on Medicare and what his claim to fame was with being on television...
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#204 - "Hot topics" edition...Andy and Brad Flood talk about portfolio withdrawal strategies & sequence of returns risk, financial planning software limitations, balancing optimization and simplicity, and MORE!
14 mai 2026
01:30:42
Andy and Brad Flood from Tenon Financial share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
Portfolio withdrawal strategies for addressing sequence of returns risk ( 10:44 )
Using financial planning software and dealing with its limitations ( 26:25 )
Thoughts on Medicare surcharges known as IRMAA, and how much they should be factored into tax planning ( 40:25 )
Dealing with legacy investments in client's accounts when clients want to streamline and simplify their holdings, but also want or need to continue to hold some existing positions of theirs ( 46:14 )
Balancing optimization and simplicity in financial planning; when is "good enough," enough? ( 58:29 )
When in the year to take distributions from Required Minimum Distributions ("RMDs") ( 1:12:19 )
A summary of our processes and semiannual meetings at Tenon Financial ( 1:19:02 )
#203 – Options for holding cash and cash equivalents
07 mai 2026
01:21:15
Andy discusses the different options for holding cash and cash equivalents (i.e. things that are principal protected, offer some amount of interest and are highly liquid and readily accessible)
The options are:
Physical bills and coins
Checking accounts
Savings accounts
Certificates of Deposit, or CD's
Money Market Mutual Funds or Exchanged Traded Funds that invest like Money Market Mutual Funds
Multi-Year Guaranteed Annuities, or MYGA's (but hear why he doesn't fully consider them cash equivalents)
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#202 – Guest host Mark Rosinski discusses Treasury obligation interest, basis in inherited IRAs, RMD aggregation rules, doubling up contributions to 457 plans, and ways to invest during the Social Security delay period
30 avr. 2026
01:10:33
Guest host Mark Rosinski, CFP®, CPA, RICP®, from Dunes Financial does a "hot topics" episode where he talks about:
US Government obligation interest and what to look for on your consolidated 1099 to make sure you properly reflect the state income tax treatment on your tax return ( 9:06 )
Understanding and tracking after-tax "basis" in inherited IRAs ( 20:14 )
Required Minimum Distribution ("RMD") aggregation rules ( 25:03 )
Potentially doubling up contributions to governmental 457 employer retirement plans, and other unique aspects of 457 plans ( 33:27 )
Different approaches for investing money during the period where income from working has stopped but Social Security has not yet been started. Options include total return, bond ladders, bucket strategies, and hybrid approaches ( 46:35 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#201 - Q&A edition...A.I. and financial planning, the "withhold and replace" method of paying taxes, step DOWN in basis, TIPS ladders and MORE!
23 avr. 2026
00:58:06
Listener Q&A where Andy talks about:
Correction to a previous Q&A episode regarding taxation of lump sum Social Security benefits paid in one year for benefits attributable to the prior year ( 9:54 )
His thoughts on artificial intelligence and how it can impact the financial planning industry ( 13:00 )
The "withhold and replace" method of paying taxes when doing IRA distributions or conversions and using the indirect 60-day rollover approach to ultimately pay taxes out of your bank or brokerage account, but with the benefit of doing it via withholdings from the IRA ( 20:30 )
Step DOWN in basis when inheriting assets that have declined in value from where the original owner bought them ( 31:46 )
When having a pension available, instead of selecting a payment option that lives on for your spouse upon your death, instead taking the payment option that stops when you pass, and using the difference in the larger payment amount to buy life insurance for the benefit of your spouse ( 40:00 )
His thoughts on using a TIPS ladder ( 45:29 )
Whether to invest money or instead use it to buy long term care insurance. Such as deciding between making an $8,000 Roth 401(k) catchup contribution, or using some or all of that $8,000 to buy long term care insurance ( 50:48 )
At what point does larger investable asset size or net worth start to lead to the need to have a more complex portfolio, or to invest in non-traditional assets like private investments, alternatives, etc. ( 54:31 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#200 – 200th episode special edition: my observations about the financial services industry
16 avr. 2026
01:06:59
Special edition 200th episode where Andy shares some of his observations about the financial services industry from his time working in it:
Creating good and consistent content is hard to do and do well ( 9:32 )
A lot of content is just clickbait to get your views and/or advertise something to you, and not actually good content ( 13:15 )
Personal finance is a lot more personal than it is finance ( 17:40 )
The vast majority (all?) of long-term retirement planning is ultimately just a lot of educated guesses and there is no way to create a perfect or infallible retirement plan ( 21:46 )
Roth conversions are given too much attention and emphasis ( 28:15 )
There are a lot of reasons to not like the financial services industry, and most (all?) of the industry is ultimately out to get you to buy something from them ( 33:30 )
Most of the people in the industry are really good people and do really good work, but they just might not be working in a company or structure that prioritizes the client ( 37:52 )
There is continued growth and momentum in financial advisors providing planning-focused services at more logical fee structures and service offerings ( 42:17 )
Tax planning is getting more attention and more advisors are learning about and offering tax planning ( 43:50 )
The percent of assets under management model doesn't make sense. There are other fee structures that are less illogical, less unfair, less arbitrary in what they charge ( 46:46 )
The financial services and advisory industry is unfortunately really fragmented between different "factions" of companies, services, products, etc., and it ends up being a disservice to consumers ( 53:12 )
Tax return prep is a hard business. Please be kind and considerate in dealing with tax preparers, especially in February, March and April! :-) ( 1:00:36 )
#199 - "Hot topics" edition...Andy and Jonathan Vance talk about opportunities in the current market environment, 2026 tax updates, questions to ask advisors and MORE!
09 avr. 2026
01:35:36
Andy and Jonathan Vance from Vance Financial Planning share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
Given current world affairs and their impacts on the markets, should you do anything different with your investments, or are there any other planning opportunities to consider ( 14:20 )
Tax updates for 2026, and some recap of tax takeaways for 2025 now that the 2025 tax return season is mostly behind us ( 26:27 )
Using in-kind gifts to family and friends to get rid of appreciated non-qualified assets you no longer want, but don't want to sell and realize the gains ( 38:45 )
The importance of having a good grasp on your future expenses and how that impacts virtually all aspects of retirement planning ( 46:00 )
The practicality of the "die with zero" concept, and how Monte Carlo can help try to put it into practice ( 1:00:48 )
Questions to ask when interviewing a financial advisor ( 1:11:54 )
Options for what to do with permanent life insurance policies or annuities you might no longer want, or are no longer in your best interest ( 1:23:10 )
#198 - Whether to take a pension as a lump sum or monthly payments
02 avr. 2026
01:05:39
Andy discusses the pros and cons of taking a lump sum vs taking monthly payments for your pension, questions to ask yourself to help figure out if it might be better for you to take one vs the other, and other considerations to keep in mind in making the decision
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#197 - Q&A edition...how often to rebalance, tracking Roth IRA contributions, are RMDs really that bad, paying off mortgages before retirement and MORE!
26 mars 2026
01:10:35
Listener Q&A where Andy talks about:
How often to check your accounts for rebalancing, and how often to check on your bigger picture finances and plan ( 2:32 )
What to do with old positions you no longer want in a brokerage account but they all have large unrealized gains ( 16:03 )
How Medi-Cal benefits interact with a high deductible health plan and an HSA (spoiler alert...I don't know!) ( 22:20 )
Are there any good reasons to leave old/prior employer 401(k) plans where they are ( 25:31 )
Tracking Roth IRA contributions (including money inherited from a deceased spouse's Roth 401(k)) ( 29:50 )
The mechanics of separating the cream from the coffee when rolling pre-tax money in an IRA to a 401(k) to leave behind in the IRA just the after-tax basis, and potential gotchas with that process ( 33:41 )
Are potentially large RMDs really a threat to someone's financial plan, or just a pain ( 42:37 )
Additional thoughts on whether to pay off a mortgage before retirement, particularly if using pre-tax funds (like from a 401(k)) to do it, even if the interest rate on the loan is really low ( 49:45 )
Why Roth money within a 401(k) isn't actually in its own separate account, but is instead just an internal accounting record type of "sub" account ( 53:04 )
Tax-free conversions of mutual fund share classes to ETF share classes of the same fund, where available ( 59:02 )
Thoughts on rental property vs bank CD's for purposes of estate transfer, tax implications and general retirement plan considerations ( 1:03:23 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
Links in this episode:
My article about pros and cons of rolling over old employer plans to an IRA - here
#196 – "Real" person retirement planning chat with Jim Kellerman
19 mars 2026
01:30:11
Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Jim Kellerman. They talk about a wide array of retirement planning topics such as when he started getting serious about planning for retirement, how he now spends his days in retirement, what he's doing for health insurance since he's not yet on Medicare and why he's at the local prison each week...
Links in this episode:
Puritas tax prep software (including for Form 709 gift tax returns) - here
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#195 - Retirement planner chat with Bradley Hilton from Sonas Financial Planning
12 mars 2026
01:59:23
Andy chats with fellow retirement planner Bradley Hilton, CFP®, TPCP®, MBA from Sonas Financial Planning. In this episode they talk about a wide array of retirement planning topics such as tax planning, distribution strategies, investing, annuities, long-term care insurance, what consumers often overlook in retirement planning and much more!
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#193 - Q&A edition...Social Security lump sum for retroactive payments, whether to pay off a mortgage, step-up in basis, gifting without having to file a gift tax return and MORE!
26 févr. 2026
01:12:39
Listener Q&A where Andy talks about:
Income tax treatment of buying bonds in a normal non-qualified brokerage account when you buy or sell bonds in between coupon periods ( 8:37 )
When still working, are 50 or older, are maxing out your 401(k) contributions, and are high income and therefore would need to have your catch-up contribution go into your Roth (instead of pre-tax) 401(k), would it be better to skip the catch-up and instead put that money in a normal brokerage account ( 14:40 )
Taxation of Social Security lump sums received for prior month's retroactive payments; is it taxable in the year received or in the prior year that the payments were attributable to ( 17:56 )
Does the imputed wage income from employer group life insurance in excess of $50,000 death benefit qualify as earned income for purposes of making Roth IRA contributions ( 24:26 )
Deciding how/when to sell out of appreciated assets in a brokerage account you no longer want but don't want to have to deal with realizing taxable gains ( 29:11 )
Thoughts on direct indexing, and whether it's a strategy worth considering ( 37:01 )
Whether or not to pay off a mortgage, especially now that interest rates are higher than they were a few years ago ( 44:07 )
Thoughts on when to stop saving if/when you've saved "enough," balancing planning for the future you vs the present you, deciding how much to sacrifice now for saving for the future, etc. ( 49:24 )
The differences in step-up in basis rules for spouses in community property states vs common law states, and how that impacts federal taxes (even if the gains aren't taxable at the state level) ( 55:10 )
What to keep in mind when spouses want to maximize gift giving and not have to file a gift tax return ( 1:01:44 )
Deductibility of donating appreciated securities vs cash and how to plan large donations in years of doing Roth conversions to help manage taxable income ( 1:07:47 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#192 – "Real" person chat with Kevin Sebesta from the Rock Retirement Club, discussing FIRE...Financial Independence, Retire Early
19 févr. 2026
01:17:48
Andy chats with a real person (not an advisor) doing their own retirement planning. This week Andy is joined by Kevin Sebesta from the Rock Retirement Club
Kevin retired at 43 as part of the FIRE (Financial Independence, Retire Early) concept. He shares his planning and retirement journey, and discusses more about FIRE including the FIRE community and thoughts everyone (not just FIRE folks) should consider when planning for retirement.
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#191 - "Hot topics" edition...Andy and Jason Cutitta talk about inheritances, Die With Zero, TSP in-plan conversion, taking RMDs and MORE!
12 févr. 2026
01:18:56
Andy and Jason Cutitta from ToBa Financial share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
How to incorporate a potential inheritance into your retirement planning ( 12:30 )
Limitations of the "Die With Zero" concept ( 18:55 )
The upcoming ability to do in-plan Roth conversions in the federal Thrift Savings Plan ( 29:06 )
Whose retirement accounts to take from first when spouses have a big age disparity ( 36:56 )
When are you required to file a tax return. And even if you aren't required to file one, why you still should anyway ( 45:04 )
How to try to project your income for the year when there are certain items you can't know for sure until later in the year ( 53:32 )
When in the year is the best time to take your annual Required Minimum Distribution ("RMD") ( 1:01:02 )
How much money do you need in retirement to justify hiring a financial advisor ( 1:08:21 )
Andy does a deep dive into everything about "backdoor" Roth contributions, which is where you make an after-tax contribution to a traditional/pre-tax account, and then convert it to a Roth account. Looks simple on the surface, but there are a lot of angles and gotchas to watch out for
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#189 - My background and prior experiences and how they shaped my views and approach to retirement planning and starting my own firm and creating this podcast
29 janv. 2026
01:18:14
Andy shares his background and how/why that shaped his views, beliefs and approach to providing tax-efficient retirement planning and related content through the Retirement Planning Education website, podcast, YouTube channel, blog and Facebook group
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#188 - Q&A edition...Social Security spousal benefits, cognitive biases in investing, changing state tax domicile, naming minors as beneficiaries and MORE!
22 janv. 2026
01:10:33
Listener Q&A where Andy talks about:
Can a spouse claim spousal benefits while delaying the start of their own benefit ( 10:40 )
What's the best way to view your accounts in terms of how much of them are actually yours after accounting for eventual taxes you have to pay on them ( 14:08 )
Can a minor be named as the beneficiary of a retirement account ( 23:28 )
His thoughts on dividend stocks and funds ( 26:55 )
Follow up thoughts about combining retirement account, in response to a previous listener question ( 34:43 )
Considerations and gotchas around changing state tax domicile ( 39:30 )
10 cognitive biases in investing, and which three I see the most in my practice ( 46:48 )
Considering the present value of expected future Social Security payments when determining asset allocation ( 54:25 )
Additional thoughts about the 4% rule and whether you can increase your distribution if your portfolio value increases ( 1:01:40 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
Links in this episode:
NASDAQ's summary of 10 cognitive biases in investing - here
#187 – "Real" person chat with Kevin Lyles from the Rock Retirement Club, discussing six "Retirement Truths"
15 janv. 2026
01:21:22
Andy chats with a real person (not an advisor) doing their own retirement planning. This episode is a bit different from our normal real people chats though. Andy is joined by Kevin Lyles from the Rock Retirement Club. Kevin is a retired corporate lawyer who has since become a certified retirement coach, focusing on helping people with the non-financial aspects of retirement.
In the episode, Andy & Kevin talk about six "Retirement Truths:"
You never know when you have enough; there are too many uncertainties and too many changes in life
The 90/10 rule; before retirement, planning is often 90% financial, 10% non-financial. In retirement, planning is often 90% non-financial, 10% financial
Searching for purpose can lead to frustration and failure to find it
Optimization is great. But don't let the elusive quest for perfect be the enemy of good. Don't let yourself get stuck in analysis paralysis
To thrive in retirement, we must continue to grow and achieve
Retirement isn't about money; it's about time. Tomorrow is not promised
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#186 - "Hot topics" edition...Andy and Cody Garrett talk about ACA tax credits, Roth conversions, tax gain harvesting, paying taxes in retirement, using HSAs and MORE!
08 janv. 2026
01:29:17
Andy and Cody Garrett from Measure Twice Financial share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
Affordable Care Act ("ACA") tax credits and income "cliffs" in tax planning ( 08:13 )
Doing Roth conversions vs tax gain harvesting ( 22:30 )
Paying taxes in retirement; estimated payments vs withholdings ( 31:33 )
Rushing into Roth conversions ( 38:50 )
When to start doing HSA distributions ( 51:31 )
Should you be worried about tech stocks ( 58:23 )
Timing Required Minimum Distributions ("RMDs"); when in the year to take them ( 1:08:26 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#184 - Q&A edition...consolidating accounts, tax withholdings vs estimated payments, QLACs, the 4% rule and MORE!
25 déc. 2025
00:59:22
Listener Q&A where Andy talks about:
Potential advantages or disadvantages of consolidating retirement accounts ( 4:28 )
Paying taxes through IRA withholdings vs making estimated payments ( 13:08 )
Whether a minister's housing allowance impacts Affordable Care Act subsidy eligibility ( 26:11 )
When Qualified Longevity Annuity Contracts ("QLACs") might make sense to consider ( 30:27 )
When following the 4% "rule" for distributions, can you reset your initial distribution if/when your portfolio value increases from market gains ( 37:48 )
If someone has an outdated will and unused trust, but the person verbally stated their wishes to the heirs, is there a need to update will and/or trust, especially if there is currently nothing in the trust ( 49:19 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#183 – Retirement planning chat with a "real" person, Jill
18 déc. 2025
01:25:41
Andy chats with a real person (not an advisor) doing their own retirement planning. In this episode, Andy talks with Jill. They talk about a wide array of retirement planning topics such as leaving the workforce relatively early, keeping expenses moderate yet still doing and enjoying a lot in life, what she wishes she would have known and done sooner for her retirement planning, and more!
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#182 - "Hot topics" edition...Andy and Kevin Thompson talk about the One Big Beautiful Bill Act, the markets, IRMAA, senior exploitation and MORE!
11 déc. 2025
01:08:40
Andy and Kevin Thompson from 9i Capital Group share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
Thoughts on how the One Big Beautiful Bill Act complicates 2025 tax planning. And in particular whether people 65 or older should try to keep their income low to get some or all of the extra $6k bonus deduction ( 7:41 )
What's up with the markets??? Should we be worried about the stock market? ( 17:33 )
Their views on private or alternative investments and whether consumers should embrace them ( 34:30 )
Should people try to prevent ever being in IRMAA (i.e. income-based Medicare surcharge) territory with their income, or instead consider SOME IRMAA in the name of longer term tax planning ( 44:04 )
#181 - Q&A edition...understanding Roth IRA income limits, deciding between pension payment options, when to Roth convert vs distribute from an IRA and MORE!
04 déc. 2025
01:01:20
Listener Q&A where Andy talks about:
A correction on something incorrect I said last week regarding deciding which spouse's pre-tax account to distribute or convert from ( 3:28 )
Pros and cons of using a single total global stock market fund vs multiple other funds such as just US and just international ( 8:17 )
What's in the calculation for Modified Adjusted Gross Income ("MAGI") for purposes of determining eligibility to contribute to a Roth IRA ( 14:49 )
Deciding when to start a Roth account, and whether it should be a Roth IRA or Roth 401(K) (if you have the option), and whether it should be funded via conversion or contribution ( 20:40 )
What to consider when deciding on which pension payment type of choose ( 27:52 )
Should IRA distributions instead be converted to Roth if you don't need to use the money any time soon ( 35:50 )
What to consider when retiring late (e.g. late-60s or 70s) ( 42:02 )
Explaining certain "fees" on trade confirmations, such as when buying coupon-paying bonds or stocks/ETFs ( 47:21 )
Why just looking at unrealized gains or losses on a position in a dividend or distribution paying security don't tell the whole story with regards to how much money you've actually made or lost in the position ( 53:45 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#180 - Q&A edition...Social Security spousal and survivor benefits, finding an advisor who doesn't require investment management, how a decedent's income is taxed and MORE!
27 nov. 2025
00:56:05
Listener Q&A where Andy talks about:
Starting Social Security benefits early so your minor children can claim dependent benefits, and how the earnings test can come into play if you're still working ( 5:53 )
Social Security spousal benefits, and what happens when the lower earning spouse starts their own benefit early at a reduced amount, then later switches to spousal benefits ( 10:35)
Social Security survivor benefits and whether the surviving spouse should start their own benefits earlier before eventually starting the survivor benefit, and whether there will be a reduction to the survivor benefit as a result ( 13:46 )
If spouses each have IRAs, does it matter from which IRA they take distributions ( 18:28 )
How income from a decedent's investments is taxed after the death of the decedent ( 23:01 )
Whether tax withholdings from wages is treated the same as tax withholdings from IRA distributions with regards to the IRS viewing the amount withheld as having happened evenly throughout the year to help avoid underpayment penalties and interest ( 30:57 )
How to find a financial advisor/planner who works on a limited engagement basis for just certain guidance or questions (such as Social Security claiming questions and tax return reviews), without requiring management of investments ( 36:49 )
Why do so many advisors require management of investments to provide their planning services, and how to find an advisor who doesn't (this is an extension of the previous question) ( 41:14 )
Using zero-coupon Treasury STRIPS in retirement for income after wages stop but before Social Security or other income sources start ( 45:40 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#179 – "Real" person chat with Beth Pinsker about her new book, My Mother's Money, A Guide to Financial Caregiving
20 nov. 2025
01:13:40
Andy chats with a real person (not an advisor), Beth Pinsker, a columnist for MarketWatch, about her new book, My Mother's Money, A Guide to Financial Caregiving.
In the book, Beth details her personal experience in becoming her mother's financial caregiver, both during her mother's end of life and health decline, and beyond her mother's death and through the estate administration process.
The book provides tons of practical knowledge, insight and recommendations for how to ensure your financial affairs are in order, that others who need access to information and accounts have it, that end-of-life planning scenarios are less painful and difficult than they otherwise would be and that estate administration isn't more cumbersome, lengthy and challenging than it needs to be.
#178 - "Hot topics" edition...Andy and Ben Brandt talk about Monte Carlo, Donor Advised Funds, paying taxes on Roth conversions, how advisors dress and MORE!
13 nov. 2025
01:12:16
Andy and Ben Brandt from Retirement Starts Today share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about:
Thoughts on Monte Carlo analysis; the good, the bad, the ugly ( 9:10 )
Why all retirement plans are ultimately wrong as soon as they're made, and need to be agile and adaptable ( 13:30 )
How to try to help people get comfortable spending the money they've accumulated ( 22:53 )
Should people care how financial advisors dress? ( 29:18 )
Is IRMAA (Income Related Monthly Adjustment Amount) something that needs to be avoided, or is it okay to knowingly pay some IRMAA in the name of longer term tax planning ( 35:12 )
Are there any planning considerations or concerns people should have if the government shutdown continues to drag on ( 39:58 )
Is renting a home (instead of owning or buying) a home in retirement okay ( 44:27 )
Are Donor Advised Funds worth using ( 48:35 )
Their thoughts on Artificial Intelligence and how it may impact financial and retirement planning ( 52:52 )
Is it okay to pay taxes on Roth conversions by withholding it from the IRA, or should taxes on conversions only be paid with money outside of an IRA, such as in a bank or brokerage account ( 1:00:42 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#176 - Guest host Brian Tegtmeyer from Truly Prosper Financial Planning talks about the non-financial aspects of planning a great retirement
30 oct. 2025
00:35:51
In this special guest host episode, Brian Tegtmeyer from Truly Prosper Financial Planning talks about how to address and plan for the non-financial aspects of retirement such as intellectual engagement, purposeful activities, health and fitness, relationships and more. And he also shares a quick exercise to do to see how you can measure your satisfaction in these various areas, and how to help intentionally address the ones you feel need improvement
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com
#175 - Q&A edition...The CAPE ratio and US stock market valuation, good enough vs optimization in retirement planning, tax on foreign stock dividends and MORE!
23 oct. 2025
01:02:27
Listener Q&A where Andy talks about:
The CAPE (Cyclically Adjusted Price to Earnings) Ratio as a measure of whether the US stock market is overvalued or undervalued, and drawbacks with the CAPE Ratio ( 4:32 )
The meaning of Benjamin Graham's quote "In the short run, the stock market is a voting machine, but in the long run it's a weighing machine" ( 17:07 )
Helping clients overcome their frugality habits to enjoy more of their deferred spending from their nest eggs ( 19:18 )
Understanding "duration" and what it means in bond funds ( 26:58 )
How Annie Duke's concept of decision making and luck play into retirement planning ( 34:19 )
Balancing between good enough and optimization in retirement planning ( 38:45 )
Tax withholdings and credits on dividends from international stocks, and whether international stocks should be held only in normal brokerage accounts and not qualified accounts like IRAs and Roth IRAs ( 46:50 )
Additional resources in understanding and calculating 72(t) Substantially Equal Period Payments ("SEPP") to avoid the 10% early withdrawal penalty on accessing retirement accounts before 59 1/2 ( 52:20 )
A listener public service announcement about itemizable deductions for casualty losses due to federally declared disasters, and how IRS staffing issues and shutdowns exacerbate the inconvenience of the mandatory 20% federal tax withholding on 401(k) contributions ( 55:19 )
To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com