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Ed Slott Podcasts

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31 of The Best Podcast Episodes for Ed Slott. A collection of podcasts episodes with or about Ed Slott, often where they are interviewed.

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31 of The Best Podcast Episodes for Ed Slott. A collection of podcasts episodes with or about Ed Slott, often where they are interviewed.

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Best weekly hand curated episodes for learning

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031: How To Avoid The Biggest Tax Traps with Ed Slott

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Many consumers get caught off guard by massive tax bills they not only don’t understand, but thought someone else had planned for. How does it happen? It’s simple: our tax code is a maze. If you have money and want to emerge on the other side of it relatively unscathed, you need an excellent guide.

Today, America’s IRA expert, Ed Slott, is here to help you make sense of what you really owe - and how to prevent massive tax penalties in retirement. I’ve been studying with Ed for nearly 16 years. I sit on his advisory board, and I can tell you that he knows more about the tax code than just about anyone else.

In this episode, you’ll learn how to navigate the rapidly changing tax landscape we’re all living in. You’ll discover why it’s all but impossible to memorize the tax code and be 100% right in every situation - but how you can get the advice you need to make strategic decisions and plan for the best possible outcome.

In this podcast interview, you’ll learn:

  • Why everybody thinks their attorney, accountant, financial advisor, or CPA is planning their taxes - and how this misunderstanding created what Ed calls the black hole of retirement planning.
  • The difference between tax preparation and tax planning - and why so many advisors aren’t prepared to help their clients when it’s time to take money out.
  • Five pieces from the SECURE Act that are critical to consumer tax planning.
  • Why everyone should be making Qualified Charitable Distributions since the passage of the Tax Cuts and Jobs Act - and why no one with earned income should be making tax-deductible IRA contributions after the age of 70.
  • How working closely with a good CPA in collaboration with a good financial planner can help prevent you from falling into the biggest traps in retirement - no matter what the tax law looks like in any given year.

Get Today's Show Notes

To get a full recap of today's conversation, including the biggest takeaways, transcripts, and links to all the resources mentioned, visit GuidedRetirementShow.com/31

Learn More about Retirement Planning

Find out more about retirement planning and Barber Financial Group, by visiting BarberFinancialGroup.com

Sep 29 2020 · 52mins
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Human Capital: Ed Slott on Why Retirement Plans Are Sitting Ducks

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In this episode, we check in with IRA and tax specialist Ed Slott of Ed Slott & Co., on what the recent debt and deficit numbers reported by the Congressional Budget Office mean for retirement plan participants.

The CBO numbers, according to Slott, show that the three-legged retirement planning stool is shaky, and for clients with a 401(k) plan or IRA, “these plans have not yet been taxed so they’re sitting ducks for future higher taxes, and that’s exactly what’s going to happen” because of the deficit and debt numbers.

Slott maintains: “There’s no way taxes are going to decrease, that’s for sure” regardless of who wins the White House.

“At some point the debt has to be paid down; it’s out of control, it’s consuming our entire national output, so that puts most peoples’ retirement savings at risk of the uncertainty of what future higher taxes will do.”

Slott also talks about the importance of Roth IRA conversions now, provides stretch IRA reminders, and talks about the dangers of excessive trading. 

Sep 18 2020 · 23mins

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Ed Slott: Act Now on Historically Low Tax Rates

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Our guest on the podcast is retirement and tax expert, Ed Slott. He is president and founder of Ed Slott and Company, which provides retirement and tax planning education to investment advisors and financial institutions. Ed has written several books including the recently published Ed Slott's Retirement Decisions Guide: 2020 Edition and Fund Your Future: A Tax-Smart Savings Plan in Your 20s and 30s. PBS viewers may know Ed from his frequent appearances on public television. He also hosts the popular website irahelp.com, where The Slott Report blog regularly dispenses wisdom about retirement, tax, and estate planning. He provides a monthly Q&A column to AARP and is also a contributing columnist and media resource to Financial Planning, Financial Advisor, and InvestmentNews magazines. Ed is a certified public accountant.

Ed Slott bio

The Slott Report blog

Books by Ed Slott

Ed Slott AARP articles

Ed Slott InvestmentNews articles

Ed Slott Financial Planning articles

IRAs and Conversions
Tax-deferred definition

A Comprehensive Guide to Tax Treatment of Roth IRA Distributions

Roth IRA Conversion Rules

New Tax Law Provides the Opportunity for Tax-Rate Arbitrage on Roth IRAs,” by Ed Slott, InvestmentNews, Feb. 15, 2018.

Seize the Opportunity to Convert to Roths,” by Christine Benz and Ed Slott, Morningstar.com, April 1, 2020.

Rothification?” by Sarah Brenner, Irahelp.com, Oct. 16, 2017.

Backdoor Roth IRA definition

The Definitive Guide to the Back-Door Roth,” by Jeffrey Levine, Irahelp.com, Aug. 12, 2015.

Backdoor Roth IRA Conversions Alive and Well,” by Christine Benz and Ed Slott, Morningstar.com, Aug. 14, 2018.

Am I Too Old for an IRA Conversion?” by Christine Benz and Ed Slott, Aug. 21, 2018.

When IRA Conversions Don’t Add Up,” by Christine Benz, Morningstar.com, June 1, 2020.

Required Minimum Distributions
Required minimum distribution definition

The CARES Act and 2020 RMDs,” by Ian Berger, Irahelp.com, Aug. 6, 2020.

The 411 on RMDs for 2020,” by Christine Benz, Morningstar.com, April 22, 2020.

SECURE Act Targets Minimum Distribution Rules,” by Natalie Choate, Morningstar.com, Jan. 8, 2020. 

Charitable Giving
QCDs: Still Available in 2020 and Still a Good Strategy,” by Sarah Brenner, irahelp.com, April 20, 2020. 

How Charitable Giving Is Changing in 2020,” by Christine Benz, Morningstar.com, April 20, 2020.

"Morningstar’s Guide to Donor-Advised Funds," Morningstar.com, Nov. 20, 2018.

Modified adjusted gross income (MAGI) definition

Estate Planning
Did the SECURE Act Kill the Stretch IRA?” by Ed Slott, AARP.com, Feb. 27, 2020.

10 Things to Know about the SECURE Act’s 10-Year Rule,” by Sarah Brenner, IRAhelp.com, Feb. 26, 2020.

Step-up in Basis definition

Stretch IRA definition

Aug 19 2020 · 48mins
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"Stay Rich for Life" by Ed Slott

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"Stay Rich for Life" by Ed Slott helps you make a plan that leaves you with more money to enjoy now, more for your retirement, more for your loved ones when you're gone, and more of it tax free.

Music - "Rise" (music only) by Bev and Cliff Nelson, Dee Briggs.  "Broken In and Breaking Up" (full song) by Bev and Cliff Nelson.

Aug 12 2020 · 53mins
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Social Security, Roth Conversions, and an Elaboration on Ed Slott: Q&A #2026

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Jim and Chris discuss Social Security, Roth conversions, and elaborate on how Ed Slott answered a question.

(6:40) A listener from Ohio asks a question about spousal benefits.

(9:42) A Delawarian has a question about survivor benefits.

(27:22) Jim and Chris address a listener’s comment.

(49:45) George from Florida asks if Roth conversions count toward MAGI and APTC.

(51:26) Jim and Chris elaborate on how Ed Slott answered “George from Georgia’s” question.

The post Social Security, Roth Conversions, and an Elaboration on Ed Slott: Q&A #2026 appeared first on The Retirement and IRA Show.

Jun 27 2020 · 1hr 8mins
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Takeaways from the Latest Ed Slott Seminar Part 2: EDU #2020

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Continuing from a former EDU episode, Jim and Chris further discuss a recap of the most recent Ed Slott seminar.  In particular they discuss some tax court cases and different IRS rules.

The post Takeaways from the Latest Ed Slott Seminar Part 2: EDU #2020 appeared first on The Retirement and IRA Show.

May 20 2020 · 1hr 16mins
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Josh Jalinski Talks to Ed Slott, CPA/Nationally Recognized Speaker on IRA's

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May 16 2020 · 1hr 49mins
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Takeaways from the Latest Ed Slott Seminar: EDU #2019

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Jim recently returned from the latest Ed Slott seminar, and in today’s episode he and Chris discuss some of the main takeaways and topics from the event.

The post Takeaways from the Latest Ed Slott Seminar: EDU #2019 appeared first on The Retirement and IRA Show.

May 13 2020 · 52mins
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How the Stimulus Plan will Affect Your Retirement Accounts with Ed Slott

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Congress just passed the biggest stimulus bill of our lifetime. The CARES ["Coronavirus Aid, Relief and Economic Security] Act is a massive bill of all bills, totaling in the trillions of dollars, and it’s going to have significant impacts on us as business owners and individuals as we work together to get through this tough time. 

Today, I want to address the big questions you may have about the bill: how will it affect your retirement, and what’s in there for you as an individual? 

To help you make sense of the chaos, weed through the noise, and take advantage of what the government is doing to prop up the economy, I’m thrilled to bring back my good friend and mentor Ed Slott, President of Ed Slott and Company. Ed is one of the best sources for IRA advice, someone I’ve known for over a decade, and a frequent contributor to the Wall Street Journal

In this emergency episode of Your Wealth & Beyond, we dig into how the CARES act will affect your 401(k) and IRAs, the updated rules concerning deadlines, contributions, and required minimum distributions, and the potential issues you and your financial advisor should discuss in the weeks and months to come.

In this podcast interview, you’ll learn: 

  • What you can do with the fact that required minimum distributions have been waived for 2020 - and strategies you can use if you already took your required minimum distributions for this year. 
  • Why Ed hopes no one uses the relief provisions allowing people to take early distributions “penalty-free” from retirement plans or IRAs. 
  • What the extended filing and payment date of July 15 means for paying your taxes and making contributions to your ROTH IRA, IRA and Health Savings Account, as well as the messy twist that individuals who pay estimated taxes need to be aware of. 
  • Why health savings accounts still offer the opportunity to break even on taxes right now. 
  • Why you may want to take advantage of qualified charitable distributions even though there are no RMDs this year to bring down your overall
Mar 27 2020 · 25mins
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Ed Slott explains what the SECURE Act means for your heirs

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Congress passed important retirement legislation just before the holidays that has sent financial planners and tax professionals scrambling, because the law's impact on people with significant retirement savings is nearly immediate.

The SECURE ACT will have an important impact on the estate plans of people with large tax-deferred IRAs (often rolled over from 401k accounts). It eliminates the so-called "stretch" IRA, which allowed non-spouse beneficiaries to draw down inherited tax-deferred accounts over the course of their lifetimes. Heirs will now be required to draw down the entire account amounts within a 10-year window--a change that will have negative tax and financial-planning consequences in many cases.

Joining me on the podcast to talk about the changes - and how you can respond with some smart planning moves - is one of the nation’s best-known experts on IRAs. Ed Slott is known well to millions of public television viewers through his tv specials, and he’s also a best-selling author. His next book, Ed Slott's Retirement Decisions Guide: 2020 Edition, will be published early this year; his most recent public television special is Retire Safe & Secure! With Ed Slott.

Ed’s company provides IRA training to financial professionals, CPAs and attorneys, and his website offers free educational resources to consumers.

Listen to the podcast by clicking the player icon at the top of the newsletter page. Or, you can find the program on Apple Podcasts, Spotify and Stitcher.

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Jan 31 2020 · 35mins