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An #Shorts video on Simple IRA: Understanding the Basics


Rob talks about Simple IRAs and how they work. #shorts #savings #investing #finance #retirement #401k #IRA #recession #inflation Watch and Enjoy! ✅ SUBSCRIBE SUBSCRIBE SUBSCRIBE ✅ 📚GET A FREE COPY OF OUR BRAND NEW BOOK! : 🤝 GET FREE CONSULTATION HERE: 🤝 💰GET OUR FREE FINANCIAL FREEDOM ROAD MAP💰 📈 DOWNLOAD YOUR FREE CASH FLOW ANALYSIS GUIDE 📈 GET ACCESS TO OUR GUARANTEED INCOME GUIDE 📲 CONNECT WITH ROB AND EPIC FINANCIAL STRATEGIES ================= Rob Gill - Instagram Facebook Twitter YouTube Channel LinkedIn: TikTok: EPIC - Instagram EPIC - Facebook “EPIC Financial Strategies” is a trade name referring to EPIC Insurance Services, LLC. All references to “EPIC” contained in this video pertain to EPIC Insurance Services, LLC. Robert Gill is not in the business of providing investment advice and specifically disclaims any liability, loss or risk incurred as a consequence, either directly or indirectly, through the use of any of the information contained in this video. Also, Robert Gill, in his appearance on various social media platforms, does NOT provide ANY legal, accounting, securities, investment or tax advice, and the opinions he shares are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Robert Gill does not endorse ANY specific investments, financial advisors or securities brokerage firms. Robert Gill is not a securities-licensed professional, financial planner or investment advisor. The views and opinions of any guests who may appear in the videos on this channel, regardless of whether they hold any securities, advisory or insurance license, are shared for informational and educational purposes only. Any chart, illustration or other demonstrative contained in this presentation or video is for educational purposes only and does not represent the actual performance of any specific product. And whether they originate with Robert Gill or any guest, the views and opinions of persons appearing in these videos should not be considered investment, financial, legal or tax advice. Before making any investment or other significant financial decision, viewers should consult with qualified and licensed professionals, who will assess the appropriateness of the decision in light of each individual’s specific goals, experiences and financial status. It is possible that certain material facts, including but not limited to legal conditions directly affecting the functions of products discussed herein, may have changed in the time since this video was filmed. Viewers should not assume that such conditions have remained the same in the ensuing period. #EPIC #WealthManagement #MoneyMindset...(read more)



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If you are interested in saving for your future, you may have heard of a Simple IRA. This retirement savings plan is a popular choice for small businesses and individuals who want to set aside money on a tax-advantaged basis. In this article, we'll take a closer look at what a Simple IRA is and how it works. What is a Simple IRA? A Simple IRA is a retirement savings plan that allows eligible employees to make contributions on a tax-deferred basis. The plan is available to small businesses that have 100 or fewer employees and do not offer another retirement plan. The employer is required to make contributions to the plan, either by matching employee contributions or by contributing a flat amount. Simple IRAs are designed to be easy to set up and administer. They come with lower administrative costs and less paperwork than other types of retirement plans, such as 401(k) plans. How does it work? Employees can make contributions to a Simple IRA through payroll deductions. They can contribute up to $13,500 in 2021, and those aged 50 or over can make an additional catch-up contribution of $3,000. Contributions are made on a pre-tax basis, which means they reduce an employee's taxable income for the year. Employers must make contributions to the plan, either by matching employee contributions or by contributing a flat amount. The employer can choose to match employee contributions dollar-for-dollar up to a certain percentage of the employee's salary, or they can make a non-elective contribution of 2% of the employee's salary. The money in a Simple IRA grows tax-free until it is withdrawn. When the employee retires or reaches age 72, they must begin taking minimum distributions from the account. These distributions are subject to income tax. Advantages of a Simple IRA One of the biggest advantages of a Simple IRA is the potential for tax savings. Contributions are made on a pre-tax basis, which means they reduce taxable income for the year. This can result in lower tax bills for both employees and employers. Simple IRAs also have lower administrative costs and less paperwork than other types of retirement plans. This makes them an attractive option for small businesses with limited resources. Finally, Simple IRAs offer flexibility in terms of contributions. Employees can choose how much they want to contribute each year, and employers have the option to contribute a flat amount or match employee contributions. Conclusion A Simple IRA is a straightforward retirement savings plan that can be a great option for small businesses and individuals. It offers tax advantages, flexible contributions, and lower administrative costs than other types of retirement plans. If you are interested in setting up a Simple IRA, be sure to speak with a financial advisor or tax professional who can help you navigate the process. https://inflationprotection.org/an-shorts-video-on-simple-ira-understanding-the-basics/?feed_id=86101&_unique_id=6432cd1c03582 #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #annuities #Banking #BitCoin #CDinterestRates #crypto #dowjones #education #Employeebenefits #EpicFinancialStrategies #Finance #FinancialPlanning #indexeduniversallifeinsurance #infinitebanking #inflation #InternalRateofReturn #investing #investor #ira #iul #lifeinsurance #millionaire #mortgage #NFT #realestate #Retirement #retirementplanning #RobGill #ROTH #savings #stockmarket #Stocks #studentloans #success #TaxBrackets #taxrefund #wholelifeinsurance #SimpleIRA #401k #annuities #Banking #BitCoin #CDinterestRates #crypto #dowjones #education #Employeebenefits #EpicFinancialStrategies #Finance #FinancialPlanning #indexeduniversallifeinsurance #infinitebanking #inflation #InternalRateofReturn #investing #investor #ira #iul #lifeinsurance #millionaire #mortgage #NFT #realestate #Retirement #retirementplanning #RobGill #ROTH #savings #stockmarket #Stocks #studentloans #success #TaxBrackets #taxrefund #wholelifeinsurance

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