Modified Adjusted Gross Income - (

Understanding Modified Adjusted Gross Income (MAGI) in Retirement

Medicare IRMAA & Taxes Explained (2025)

In this video, Tom discusses Modified Adjusted Gross Income (MAGI) for 2025.

This may impact your Medicare premiums, specifically the Income-Related Monthly Adjustment Amount (IRMAA).

Whether you’re retiring soon, already retired, or planning your retirement income strategy, understanding MAGI is essential to avoid unexpected Medicare Part B premium increases.

We’ll explain how to calculate your modified adjusted gross income, and what counts toward MAGI — and why your 2025 Medicare premiums are actually based on your 2023 income.

We also cover potential triggers that could push you over the IRMAA thresholds, for example:

Capital gains from selling your primary residence or investments

Roth conversions

Required Minimum Distributions (RMDs) from retirement accounts

Day trading or realizing large investment gains

Be mindful of how some financial decisions might affect your MAGI and Medicare costs.

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Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. We act in a fiduciary capacity with our clients at all times.

Our family of investments advisors (Tom, and his three sons - Brendan, Tim and Casey) are all CFP® Professionals.

To our knowledge, WE ARE THE ONLY FAMILY firm - in the nation - with four fiduciary, fee-only investment advisors who all have earned CERTIFIED FINANCIAL PLANNER™ certification.

The "Mullooly Asset Show," has over 350 episodes and over 450 unique podcasts, which can be found on the site https://www.mullooly.net.

The "Mullooly Asset Show" answers questions and cover topics that YOU bring up.

Our topics and questions range from those brought up, or sent in, by our viewers.

Get in touch with us here:
Mullooly Asset Management
1971 State Route 34
Wall Township, New Jersey 07719

Phone: 732-223-9000

Website: https://mullooly.net
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Email: [email protected]


This content is provided for informational purposes only and does not constitute personalized investment, tax, legal, or accounting advice, and should not be relied upon as such.

Mullooly Asset Management, Inc. is not endorsing practices, products, or services that may be mentioned, and highly recommend consulting with a licensed financial professional about your own specific goals and circumstances prior to engaging in any financial decisions.

Investing involves the risk of loss. Employees of Mullooly Asset Management, Inc. may maintain positions in securities discussed, however absolutely none of this is a solicitation or recommendation to buy or sell. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decisions. Past performance is not indicative of future results. This content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice.