The Aftermath of Brexit


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The Aftermath of Brexit Pros and Cons: What Options Do Individual Investors Have? On June 23, 2016, a majority of British citizens voted to leave the 28-member European Union – an action referred to as the “Brexit”.  The following day, … Continue reading

New Social Security Rule Will Hurt Women by Eliminating Benefits Options

James Lange, CPA/Attorney, Advises Married Couples Ages 62-70 to Apply and Suspend NOW. After April 29, 2016, it will be too late!

In early November, President Obama signed the Bipartisan Budget Act of 2015 into law and the repercussions are devastating to the married women of our country.

Pittsburgh – December 16, 2015Lange Financial Group, James Lange, PittsburghMarried women, statistically the widows of the future, will pay a high price due to the changes that the Bipartisan Budget Act of 2015 has made to Social Security. Pittsburgh attorney and CPA James Lange takes action by releasing audio and video presentations as well as transcripts and a report that will help couples ages 62-70 navigate this new rule and protect their benefits while they still can!


The financial well-being of widows is often dependent upon the choices that are made while their spouses are still alive. Spousal and survivor Social Security benefit choices can mean the difference between living comfortably in retirement and falling under the poverty line for women whose spouses leave them behind. Widows are commonly younger than their deceased husbands and the Social Security benefits they have earned, especially in the Boomer generation, are commonly less than that of their deceased husbands. This means that a widow will depend on collecting survivor benefits, often for many years, based on the benefits to which their deceased spouses were entitled.

“One of the best things a husband can do to protect his wife in widowhood is to maximize his own Social Security benefits. One technique that we use with our clients is apply & suspend.” James Lange of Pittsburgh-based, Lange Financial Group, LLC comments. “The law prior to the Bipartisan Act allowed the husband to apply for, and then suspend collection of his benefits, while allowing his wife to collect a spousal benefit. It was a win-win for our clients!”

This technique was used strategically to maximize the husband’s and wife’s long-term benefits. That, unfortunately, is coming to an end, with the exception of certain couples who take the appropriate action between now and April 29, 2016. For many couples, the income stream from spousal benefits in the previously allowed apply and suspend technique made it possible (or at least more palatable) for the husband to wait until age 70 to collect Social Security, thus maximizing their benefits.

“This new law cuts off that income stream, making it if not impossible, at least more difficult, for husbands to choose to delay collection of their benefits.” Lange warns, “Unfortunately, it is the widows of these husbands who cannot maximize their Social Security benefits who will be left in reduced circumstances for the rest of their lives.”


DO NOT WAIT. Congress has eliminated one of the best Social Security maximization strategies. Fortunately, some recipients may be grandfathered already and others could be grandfathered if they act between now and April 29, 2016. Others will have to make do with the new laws. In either case, now is the time to review your options. We have posted a one hour audio with a written transcript explaining the old law, the new law and the transition rules. Readers can go to to access this audio and transcript.


James Lange, CPA/Attorney is a nationally-known Roth IRA and retirement plan distribution expert. He’s also the best-selling author of three editions of Retire Secure! and The Roth Revolution: Pay Taxes Once and Never Again. He hosts a bi-weekly financial radio show, The Lange Money Hour, where he has welcomed numerous guests over the years including top experts in the fields of Social Security, IRAs, and investments.

With over 30 years of experience, Jim and his team have drafted over 2,000 wills and trusts with a focus on flexibility and meeting the unique needs of each client.

Jim’s recommendations have appeared 35 times in The Wall Street Journal, 23 times in the Pittsburgh Post-Gazette, The New York Times, Newsweek, Money magazine, Smart Money and Reader’s Digest. His articles have appeared in The Journal of Retirement Planning, Financial Planning, The Tax Adviser (AICPA), and other top publications. Most recently he has had two peer-reviewed articles published on Social Security maximization in the prestigious Trusts & Estates magazine.

John C. Bogle – A Financial Industry Giant Addresses Congress

John Bogle, The Lange Money Hour, James Lange, Pittsburgh, PA Wednesday, October 1, 2014Join us this Wednesday, October 1 at 7:05 p.m. on KQV 1410 AM for The Lange Money Hour, Where Smart Money Talks.

Program also streams live at

Encore presentations air on KQV EVERY SUNDAY at 9:00 a.m.

The three legs of America’s retirement system are shaky, neither structurally efficient nor fiscally stable. That’s what the U.S. Senate Finance Committee heard on September 16, during testimony by a man Fortune Magazine labeled one of four giants of American Finance: John C. Bogle, founder and now retired CEO of the Vanguard Group, the world’s largest mutual fund company, with more than 3 trillion dollars under management.

To hear why Mr. Bogle believes the situation is so precarious, tune in tomorrow evening at 7:05, as The Lange Money Hour welcomes him back to the show.

Over the course of his 63-year career, Mr. Bogle has changed the face of investing. A pioneer in the concept of index mutual funds, collective portfolios of stocks that mimic the movement of a defined market sector rather than a selection of individual companies, he is credited with creating the first index fund available to individual investors, the Vanguard 500.

Mr. Bogle has written a dozen books, including his 1994 bestseller Bogle on Mutual Funds to most recently The Clash of the Cultures: Investment vs. Speculation. At 85, he remains an active industry observer, appearing regularly on national financial media outlets. He recently described the personal mission he has set for himself in his retirement – “to speak out for truth and integrity and character in the world of finance, striving to build a better world for investors—honest-to-God, down-to-earth human beings who deserve a fair shake.”

You can watch his 6-minute Congressional testimony here:

We’re honored to have Mr. Bogle back as a guest on The Lange Money Hour. Please plan to join us Wednesday, Oct. 1, 2014 at 7:05 on KQV 1410 for an interesting and informative hour. The program will also stream live at

If you can’t tune in October 1, 2104, KQV will rebroadcast the show at 9:00 a.m. this Sunday. You can also access the audio archive of past programs including written transcripts on the Lange Financial Group website, Click on RADIO.

Finally, mark your calendar for Wednesday, October 15th at 7:05 p.m., when Pittsburgh City Controller Michael Lamb will join us for the next new edition of The Lange Money Hour.


(7/16/2014) Tonight’s Radio Show: The View of Pittsburgh from the Mayor’s Office

The View of Pittsburgh from the Mayor’s Office

Join us tonight at 7:05 pm on KQV 1410 AM. Program also streams live at Encore presentations air EVERY SUNDAY at 9:05 am.

Tune in KQV 1410 AM tonight at 7:05 p.m. as The Lange Money Hour welcomes a very special guest, Pittsburgh Mayor Bill Peduto.

After serving three terms on City Council representing the East End, he was elected Pittsburgh’s 60th mayor last November capturing 84 percent of the vote. Inaugurated on January 6th, he has just completed his first six months in office.

A self-described progressive Democrat, Mayor Peduto has been a consistent voice for fiscal discipline in Pittsburgh. As a councilman, he was the only city politician to call for Act 47 state protection; a controversial step in addressing decades of financial mismanagement that left Pittsburgh with the highest debt ratio and the lowest pension funding in the nation. Despite some improvement in the fiscal situation, he feels the city needs to remain under financial oversight to take care of its long-term problems such as pensions, debt, and need for capital improvements. After only six months in office, Mayor Peduto has already taken active positions on a broad range of issues from same-sex marriage, achieving sustainable revenue by establishing relationships with major non-profits, and technology and efficiency, to dedicated bike lanes and supporting ride-sharing services like Lyft and Uber.

These are just a few of the subjects on tonight’s agenda, and listeners, since our show will be live, you can join the conversation by calling KQV at 412-333-9385 after 7:05 p.m. You can also email questions in advance of the show by clicking here.

If you can’t tune in tonight, KQV will rebroadcast the show this Sunday, July 20th at 9:05 a.m. The audio will also be archived on our web site at, along with a written transcript.

Finally, please join us on Wednesday, August 6th at 7:05 p.m., when we’ll welcome another financial industry giant, Dr. Roger Ibbotson, to the next edition of The Lange Money Hour. 800 387-1129 or 412 521-2732

Tomorrow’s Radio Show: Supporting the Four Corners of your Financial House

Join us tomorrow evening at 7:05 pm on KQV 1410 AM. Program also streams live at Encore presentations air EVERY SUNDAY at 9:05 am.

Most people recognize that proper asset allocation is essential to the long-term financial success of their retirement planning, but too many investors fail to consider all the factors of their situation.

For perspectives on making sure all four corners of your financial house are supported with leading edge solutions, tune in tomorrow evening, Wednesday, June 18th, at 7:05 p.m. when The Lange Money Hour welcomes P.J. DiNuzzo, CPA, PFS®, AIF®, MBA, MSTx back to the show.

A nationally recognized expert in investment management, P.J. has been featured in numerous business publications and TV shows. Approved as one of the first 100 Dimensional Fund Advisors (DFA), he is rated a 5-Star Advisor by Paladin Registry/Investor WatchDog, ranking in the top 1% of America’s more than 800,000 investment advisors. Based in the Pittsburgh area, his firm, DiNuzzo Index Advisors, also consistently ranks among the county’s top 500 investment companies.

Among other topics, Jim and P.J. will discuss are the “Advisor Alpha” and the benefits of “one stop shopping.”

Since tomorrow’s show will be live, you can join the conversation by calling the KQV studios at 412-333-9385 after 7:05 p.m. Email questions in advance by clicking here.

In addition to being broadcast at KQV 1410 AM, the show will be simultaneously live-streamed at  KQV will also rebroadcast the show this Sunday, June 22nd, at 9:05 a.m. The audio will also be archived on our web site at, along with a written transcript.

Finally mark your calendar for Wednesday, July 2nd at 7:05 p.m., when Jim will welcome back Larry Kotlikoff, a nationally recognized Social Security expert, to the next new edition of The Lange Money Hour.


Congratulations Eugene Fama of Dimensional Funds Advisors on Winning the 2013 Nobel Prize in Economics!

Eugene Fama, whose ideas and research, along with Kenneth French helped to form Dimensional Funds Advisors (DFA) has been annouced as the 2013 winner of the Nobel Prize in Economics.

He won based on the concept that he came up with decades ago and has gone about proving ever since “Stock prices reflect all available information.” Meaning that overall, it’s impossible to beat the market on a consistent, long-term basis. Eugene Fama, along with Professor French have identified seven risk factors that explain the vast majority of stock market returns.

This Prize comes after 40 years of proof that his theories were correct. Tune in to the Lange Money Hour on 1410 AM KQV tonight at 7:05pm EST (streaming live on to hear what PJ DiNuzzo, our DFA money manager has to say about this well-deserved and historic award.

(taken from press release from DIA, Inc.)

Lange Money Hour to Air 100th Financial Radio Show

As featured in the Wall Street Journal and the Pittsburgh Business Times, The Lange Money Hour: Where Smart Money Talks will be broadcasting it’s 100th show on May 15, 2013 at 7:05p.m. on KQV 1410AM.

Our centennial show will revisit the most intriguing, humorous and informative conversations Lange has had with his most popular guests, including John Bogle, Jane Bryant Quinn, Ed Slott and more.

Can’t make it for the live segment? Learn how to catch the second airing and/or to obtain your own personal recording. .


Mistake 7: Not establishing the Inherited IRA properly.

There are a number of rules that must be met in order to properly establish an Inherited IRA:

  1. Notification must be made to the custodian in writing.
  2. The first minimum distribution must be taken no later than December 31st of the year following the year the person passes away. Note: if the decedent was receiving lifetime RMDs, the beneficiaries must ensure the RMD has been taken for the year of death.
  3. The IRA must be retitled properly showing the following information (something that Jim has covered on the radio show more than once, due to the number of times mistakes are made on this key point):
    1. The decedent’s name, with “deceased” or “decedent” after the name.
    2. It must show that it is still an IRA.
  4. Retitling must be done by December 31st  after the year of death.

If these requirements are not met, then most beneficiaries will be faced with the following consequences:

  1. If the orginal account owner was RMD age or older, the IRA must be distributed over the owner’s remaining life expectancy, based on the single life table.
  2. If the orginal owner was under RMD age, the entire IRA account must be distributed no later than December 31st of the fifth year after the person passed away.
  3. If the account title is not worded properly the entire account could also be subject to immediate taxation all in one year!

Make sure you discuss all the vaious laws and titling issues with your advisor when establishing an inherited IRA.

Information adapted from MD Producer material


Announcing the ASK Campaign for John Bogle


What Would You Ask Vanguard’s Founder and former CEO John C. Bogle If You Had the Chance?

Jim Lange is pleased to offer you the opportunity to ask industry giant, John Bogle, your most pressing investment and retirement questions!

This is an unprecedented opportunity to get advice and recommendations from the founder of the largest mutual fund company in the world.

The Lange Money Hour welcomes Mr. John C. Bogle, of The Vanguard Group, as our special guest, November 28, 2012, at 7:05 p.m. on KQV 1410AM, re-airing the following Sunday, December 2nd at 9:05 a.m.

We are issuing an open invitation to submit your most imperative, difficult, and fretful questions to be posed by Jim, to Mr. Bogle.

Just go to the home page of our website, and click the ASK John Bogle button.

As a thank you for participating in our campaign, we will email you a link to the sound file of the interview as soon as it is available.  In addition, our office will transcribe the interview and provide you with the written transcript that you can refer to at your convenience.

Born in Montclair, New Jersey in May 1929, to a family heavily affected by the Great Depression, John C. Bogle had humble beginnings.  Even as a graduate of Princeton University, he could not have known that one day he would be touted by Fortune magazine as one of the investment industries four “Giants of the 20th Century.” (Warren Buffet, Peter Lynch, and George Soros are the other three.)

Mr. Bogle is the founder of The Vanguard Group, Inc. which started operations in 1974.  From the beginning until 1996 he served as Chairman and Chief Executive Officer.  From 1997 until 2000 he served as Senior Chairman.  In 2004, Time magazine named Mr. Bogle one of the world’s 100 most powerful and influential people.  The Vanguard Group is the largest mutual fund organization in the world and it is headquartered in Malvern, PA.  It’s Vanguard 500 Index Fund, founded by Mr. Bogle in 1975, was the first index mutual fund available to the public.

Don’t miss this once in a lifetime opportunity.

As this particular show will be recorded in advance and not aired live, we encourage you to go to our website and submit your questions to Mr. Bogle, by Wednesday, November 14, 2012. Just click on the ASK John Bogle button to submit your question. Then tune in Wednesday evening, November 28th, to hear your questions answered by one of the industry’s most influential thinkers.

If you can’t tune in Wednesday evening, KQV will broadcast the show Sunday morning, December 2nd, at 9:05 a.m., and it will be available shortly after at, along with the full library of The Lange Money Hour presentations.

The Lange Money Hour with Roy Williams

Host Jim Lange welcomes Roy Williams tonight on The Lange Money Hour. Where Smart Money Talks!

Join us this evening at 7:05 pm on KQV 1410 AM
Also streams live at

What’s the best way to prepare your children and grandchildren to be good stewards of the assets they’ll receive someday? Will you reduce their motivation by giving or leaving them too much money too soon?

On tonight’s edition of The Lange Money Hour CPA Jim Lange welcomes Roy Williams, an expert in estate planning and post-transition research.

Roy is co-founder of the Institute for Preparing Heirs, which coaches high net worth families through the process of transferring wealth to the next generation. He’s written three books on the subject, most recently Philanthropy Heirs & Values, and has been quoted in numerous national and international publications on the subject. Interestingly, Roy also played briefly for the San Francisco 49ers as a defensive tackle, until a serious injury prematurely ended his football career. He’s joining us by phone from San Clemente, California,

Listeners, since our show is live Jim and Roy are available to answer your questions. To join the conversation, just call the KQV studios at 412-333-9385. You can also email your questions to Please put Lange Money Hour in the subject line.

Encore Presentations now air EVERY SUNDAY at 9:05 a.m.

If you can’t tune in tonight, KQV will rebroadcast the show this Sunday morning, September 23rd, at 9:05, and it will also be available soon at, along with the full library of Lange Money Hour presentations.