Dolphin Financial Radio Dan Wendol

Many people are surprised when they get an Income Related Monthly Adjustment Amount (IRMAA) letter from Medicare demanding higher payment for Part B and Part D (prescription drugs). In this show we talk about the main ways people get surprised by IRMAA and how to appeal if you get such a surcharge.

Many of the reasons people claim Social Security before their full retirement age are flawed. In this show we scrutinize the most common reasons why people are claiming early. From "breakeven" analysis, to getting better returns elsewhere, to Social Security going bankrupt, the justifications are questionable.

CD rates haven't been this high since almost 20 years ago. Is now the time to lock up these relatively high interest rates? If so, how long should a person lock in a CD rate - 1 year, 2 years, 5 years, 10 years? What about 100 years!? Does the decision change if you are close to or already in retirement?

Can you take a Required Minimum Distribution, pay the taxes, and convert that amount into an IRA? Does the 5-Year Rule apply to Roth conversions and does a new 5-year period start each time you make a conversion? In this show we answer both of these very common (and misunderstood) questions.

Claiming Social Security early is often the WRONG financial strategy. But what if that is what your "financial advisor" has recommended? New research suggests that this advice may actually not be in YOUR best interests, but in the best interest of the advisor. Listen in as we discuss the bias that some financial people have when it comes to guiding people on Social Security.

Want your beneficiaries to avoid paying big legal fees and/or major taxes to the IRS? Then you need to avoid some very common estate planning mistakes. In this show we discuss a real-life example of how a simple oversight can lead to major lawyer fees and taxes that could have been avoided.