Mailbag: Final Expense Insurance, RMDS, And More
Retirement PlanningListen:
On This Episode
Welcome back to the Saving with Silverman podcast! In today’s episode, Mark is going to answer some mailbag questions sent in by listeners like you. These episodes are a great way for you to learn from real-life financial scenarios while gaining valuable insights into managing your finances effectively.
One listener asks if it's worth buying final expense insurance. Another listener seeks guidance on the best approach to taking Required Minimum Distributions (RMDs) from their retirement accounts. Mark provides insightful answers to these questions and more, shedding light on various financial planning strategies and considerations along the way.
Here are the questions we cover in today’s show:
- “Is financial expense insurance worth buying?”
- “I have to start taking RMDs next year. Should I take these withdrawals in monthly installments or one big withdrawal at the end of the year?”
- “How much tax should I expect to pay on my deceased mother's estate, which includes an IRA worth $150,000, a checking account with $100,000, and a house about to be sold for $350,000?”
Thanks for joining us! We’ll be back for another show every other Thursday.
Don't forget to subscribe to the show on your favorite app!