EPISODE · Feb 8, 2024 · 52 MIN
The Ticking Time Bomb: The IRMAA Tax
from Red Zone Retirement Planning · host Adam Olson
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. "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 Anneseby visiting the following links: Health Care Retirement Planner Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- 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.
What this episode covers
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. "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 Anneseby visiting the following links: Health Care Retirement Planner Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- 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.
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The Ticking Time Bomb: The IRMAA Tax
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