Use Backdoor Roth Conversions to Your Advantage [AVOID the Retirement Tax Bomb]

In this video, we’re discussing the Backdoor Roth conversion and how you can use it to your advantage. Roth IRA Explained: ✅ SUBSCRIBE to NOT being a transaction ever again... ✅ Like us on Facebook! ✅ Follow us on Twitter! ✅ Check out our site for more tips The Retirement Tax Bomb refers to the massive IRA/401(k) tax burden that could hit high income earners in their retirement years. They accumulated assets pre-tax for decades to lower their yearly taxable income, and now that their accounts are massive, the taxman cometh. To alleviate this burden, financial planners, CPAs, and tax advisers started talking about using Roth IRAs to lower their taxes in retirement. A Backdoor Roth IRA conversion allows you to convert nondeductible traditional IRA contributions to a Roth IRA, even if you make too much money to do so. Here’s how it works: Open a Traditional IRA and max out your nondeductible contributions to it. ($6k under 50, $7k over 50 for 2022) Then, IMMEDIATELY convert it to a Roth IRA. Why immediately? So, you don’t earn any interest on the contributions, and pay no taxes on the conversion. Do this every year it is available!!! The Build Back Better Act was trying to eliminate this strategy. The backdoor Roth conversion is best for somebody: who has already maxed out other retirement savings options. who is a high-income earner. who is willing to leave the money in the Roth for at least five years who does not have other Roth assets. Make sure to speak to your tax advisor before doing this. #BackdoorRothConversions #rothira #retirementincomeplanning...(read more)

LEARN MORE ABOUT: IRA Accounts
CONVERT IRA TO GOLD: Gold IRA Account
CONVERT IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA

https://inflationprotection.org/use-backdoor-roth-conversions-to-your-advantage-avoid-the-retirement-tax-bomb/?feed_id=45781&_unique_id=638ab75673e5a #Inflation #Retirement #GoldIRA #Wealth #Investing #backdoorroth #backdoorrothfidelity #backdoorrothira #backdoorrothira2019 #backdoorrothiraconversion #backdoorrothiraconversionFIDELITY #backdoorrothiraexplained #backdoorrothirafidelity #Backdoorrothiratutorial #fidelitybackdoorrothira #fidelitybackdoorrothirasteps #fidelityrothconversion #fidelityrothiraconversion #RetirementTaxBomb #whatisabackdoorroth #BackdoorRothIRA #backdoorroth #backdoorrothfidelity #backdoorrothira #backdoorrothira2019 #backdoorrothiraconversion #backdoorrothiraconversionFIDELITY #backdoorrothiraexplained #backdoorrothirafidelity #Backdoorrothiratutorial #fidelitybackdoorrothira #fidelitybackdoorrothirasteps #fidelityrothconversion #fidelityrothiraconversion #RetirementTaxBomb #whatisabackdoorroth

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

Birch Gold Group Review 2023 – Best Gold IRA Company? Pros and Cons

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. See chapters in the description. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Chapters: 0:00 - Intro 0:26 - Is Gold a Good Investment? 1:03 - What is Birch Gold Group? 1:37 - IRA Eligible Coins 1:59 - Is Birch Gold Group a Legitimate Company? 2:50 - How Does Birch Gold Group Work? 3:34 - Birch Gold Group’s Fees and Investment Options 4:02 - Birch Gold Group Low Minimum Investment 4:29 - Birch Gold Group Storage and Security 5:34 - Con #1 – No Overseas Storage Options 5:49 - Con #2 – Initial Setup Fees 6:02 - Birch Gold Group Review Summary Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a

Timothy Sumer

Search This Blog