Contributions, Social Security, 415 Limits, and Beneficiaries: Q&A #2503
Description
Jim, Chris, and Jake sit down to discuss listener questions relating to contributions, Social Security, 415 limits, and beneficiaries.
PSA: Chris and Jake review several questions from this weeks EDU show relating to 415 limits, new age 60-63 “super” catch-up contributions effective under SECURE 2.0.
(10:30 ) A listener looks for clarification on his wife’s spousal Social Security benefit.
(13:30 ) George provides some additional thoughts surrounding 415 limits and maxing out 401k contributions.
(23:00 ) PSA to clarify the question from last week’s Q&A Show regarding a person who inherited an IRA directly from his mom as a primary beneficiary, and a different IRA from his mother as a successor beneficiary. They dive deeper into the difference between a primary and successor beneficiary when inheriting an IRA.
(51:45 ) Georgette looks for some additional information on Social Security issues surrounding widowhood.
(1:01:00 ) A listener wonders what happens when the market is closed on a day that someone passes away and how to value the security on that given day when it’s inherited.
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