#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!

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 [email protected] in this episode:Tenon Financial monthly newsletter/blog - Retirement Planning InsightsYouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com