Large IRA or 401(k) balances can trigger Medicare surcharges through IRMAA once Required Minimum Distributions (RMDs) begin at age 73. Even modest withdrawals can push income over IRMAA thresholds, raising Medicare Part B and D premiums. Strategies like Roth conversions, Qualified Charitable Distributions (QCDs), and delaying Social Security can help reduce future IRMAA exposure. Speak with a Whitaker-Myers advisor to protect your retirement income.

Often, in the financial world, terminology can be used that the average person may not understand or have a firm grasp on what is being...

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What is an ESOP? An ESOP, or Employee-Stock Ownership Plan, is a unique retirement plan allowing employees to own the company. Companies...