#144 - Q&A edition...Rule of thumb for retirement income needs, qualified vs ordinary dividends, Social Security taxation and MORE!

Retirement Planning Education, with Andy Panko

Listener Q&A where Andy talks about:

• Whether the rule of thumb saying in retirement you'll need about 80% of what you were making in wages is on a gross or net of taxes basis ( 6:49 )
• Understanding why some dividends are "qualified" and some are not, why they're taxed differently, and why dividends from bond funds aren't qualified ( 14:15 )
• Whether the decision to start Social Security sooner vs later would change if Social Security were to no longer be federally taxable ( 22:09 )
• Whether spouses can combine their 401(k) balances ( 27:03 )
• What a Form 5498 is, and if you need it to do your tax return, considering it often isn't available until after April 15th ( 30:27 )
• If you can still make a 2024 Roth IRA or traditional IRA contribution in early-2025 ( 31:40 )
• Whether you can make a contribution to a Roth IRA via transferring shares "in-kind" from a brokerage account ( 37:23 )

To send Andy questions to be addressed on future Q&A episodes, email [email protected]

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