Unspoken Truth of ROTH IRA's ⚠️

STOP & THINK… Why would someone purposefully limit their investments just to grow tax free if they didnt have to? 🤔 Not the worst option but definitely not what the wealthy are doing 🤷🏾‍♂️...(read more)

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The Roth IRA is a retirement savings account that has become increasingly popular among younger investors. It offers tax-free growth and withdrawals, and there are no required minimum distributions (RMDs). However, there are some unspoken truths about Roth IRAs that you should be aware of before investing. First, the Roth IRA is not a “get-rich-quick” scheme. It is a long-term investment vehicle and requires patience and discipline to be successful. The money you contribute to a Roth IRA will not be available to you until you reach the age of 59 ½. Additionally, there are income limits that must be met in order to be eligible to contribute to a Roth IRA. Second, the Roth IRA has a maximum contribution limit. The maximum contribution limit for 2021 is $6,000 for individuals under the age of 50, and $7,000 for individuals over the age of 50. If you exceed the contribution limit, you will be subject to a 6% excise tax on the excess amount. Third, it is important to understand the tax implications of a Roth IRA. Contributions to a Roth IRA are made with after-tax dollars, meaning that you will not receive a deduction for the amount you contribute. However, the money will grow tax-free, and you will not be taxed on any withdrawals that you make after you reach the age of 59 ½. Fourth, the Roth IRA does not provide immediate liquidity. You cannot access the money in your account until you reach the age of 59 ½. If you need to access the money in your account before that age, you will be subject to a 10% early withdrawal penalty. Finally, the Roth IRA is not a “set it and forget it” investment. You should review your Roth IRA on a regular basis to make sure it is meeting your needs and that you are taking advantage of all the tax benefits. The Roth IRA is a great retirement savings tool, but it is important to understand the unspoken truths before investing. By understanding these truths, you can make an informed decision about whether a Roth IRA is right for you. https://inflationprotection.org/unspoken-truth-of-roth-iras/?feed_id=71366&_unique_id=63ef702328683 #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #backdoorroth #finance101 #insurance #investing #Retirement #ROTH #rothira #RothIRA #401k #backdoorroth #finance101 #insurance #investing #Retirement #ROTH #rothira

"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

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

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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