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The Aul Financial Hour


Saturdays at 7 a.m. on The Voice of St. Louis - KMOX                                                                                                          www.yourmoneymattersstl.com

 

Dec 17, 2021

Liz Weston, a personal finance writer for Nerd Wallet, says you can gain … or lose … as much as $100,000, just by the way you claim Social Security!  And she says you never want to make your claim based on something a Social Security employee tells you.  But if we can’t rely on someone who works there to give us good advice, who can we turn to?

If you own an IRA - and are at least 72 years old – you can donate to charity and get a tax break.  Ed Slott explains to Morningstar how you can use a “qualified charitable donation” or QCD to donate all, or a portion of your required minimum distribution to charity. Steve explains how doing it this way is better than writing a deduction off your taxes (it reduces your taxable income).  Is there a narrow window for this benefit? (only for “MEGA” QCDs).