Social Security, IRMAA, Annuity Purchase, MDF Calculations: Q&A #2639

Jim and Chris discuss listener emails on the best month to claim Social Security, IRMAA strategy for married couples, Social Security ex-spouse benefits, inflation and annuity purchase decisions for a Minimum Dignity Floor shortfall, and Minimum Dignity Floor tax calculations.

(9:30) A listener asks whether there is a best month to apply for Social Security benefits before age 70, given how often benefits are calculated.

(20:00) George wants to know whether the SSA-44 IRMAA strategy applies to married couples filing jointly, and whether a spouse delaying retirement until mid-January would allow a large Roth conversion that year without that conversion triggering IRMAA later.

(29:30) The guys are asked to clarify ex-spouse benefit figures a Social Security agent gave a listener’s sister-in-law, including whether she can claim spousal benefits without starting her own and whether the numbers indicate she was the higher earner.

(47:30) Jim and Chris field a question on how to account for future inflation when making an annuity purchase to cover a Minimum Dignity Floor shortfall.

(1:10:30) A final email wonders why the Minimum Dignity Floor calculation doesn’t simply account for the taxes owed on that income separate from Fun Number spending.

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