The Ticking Time Bomb: The IRMAA Tax
Adam Olson, CFP, LUTCF, FSCP, RICP
Financial Planner helping client’s reach their financial goals. #cfp #investing #Financial-planner #insurance
Did you know that your income in retirement could trigger surcharges on your Medicare premiums? In my recent podcast with experts Dan McGrath and Mark Annese, we explored the concept of IRMAA and its profound impact on retirement planning. IRMAA, or Income Related Monthly Adjustment Amount, is not just a set of letters but a crucial factor that could reshape your golden years. Understanding this can make the difference between a retirement filled with financial stability or unexpected surprises.
Full Episode Links:
"If you look at the numbers, millions and millions of people are getting surcharged... how many of those 8 million could we have avoided by doing a little better planning because people knew about this?" - Mark Annese
What you will learn:
Importance of IRMAA Planning for Younger Individuals
Impact of Business Exit and House Sale on IRMAA
Inflation Impact on Medicare Premiums
Projected Increase in IRMAA Recipients
Learn more about Mark Annese visiting the following links:
领英推荐
Dan McGrath
Health Care Retirement Planner
Learn more about Adam Olson by visiting the following links:
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Investing involves risk, including loss of principal.
Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.? Any strategies discussed may not be suitable for everyone.
Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.? Adam Olson, Representative.? Mutual of Omaha Investor Services is not affiliated with any entity listed herein.
This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product.
Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.? Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.
?? HELPING COMPANIES SAVE 60%-80% IN RECRUITMENT FEES WITH A NEW PROGRAM-LIFESTYLE AI TALENT PARTNER. RECRUITER/RETAIL/HOSPITALITY
10 个月Understanding the IRMAA tax is crucial for effective retirement planning. As Adam Olson highlights, it can significantly impact your financial future. In my field of capital raising, we often discuss the importance of proactive strategies like self-directed IRAs to optimize retirement income. It's all about making informed decisions to secure that generational wealth.
Executive Director of Practice Management at M&O Marketing/Co-Founder of IRMAA Certified Planner
10 个月Adam, we truly appreciate your attention to detail on a risk that is inflating on avg by 4-5 times than a SS Cola annually.
Co-Founder @ IRMAA Certified Planner - Helping organizations position themselves to attract high-net-worth clients and monetize these important conversations.
10 个月Thank you for the nod Adam! Keep up the great work.