Secure Act 2.0 Enables ROTH Simple IRAs Now

. Simple IRAs can now be ROTHs. Listen to the Director of Business Benefits and Wealth Management Advisor, Ken Speroni, of Taylor Financial to know more about . #taxes #finance #financialplanning #investments #leadership #buildingthroughserving #smallbusiness...(read more)

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The ROTH simple IRA has become a popular retirement savings option for many Americans. With the passage of the Secure Act 2.0, this type of retirement account has become even more attractive. One of the most significant changes of the Secure Act 2.0 is the extension of the age for required minimum distributions (RMDs) from 72 to 75. This means that individuals who have not reached the age of 75 can continue contributing to their ROTH simple IRA and not be required to take RMDs until three years later. Another change that Secure Act 2.0 has brought is the ability to contribute to a ROTH simple IRA at any age. Previously, individuals were not able to contribute to a traditional IRA after the age of 70 ½. Now, there is no age limit for contributing to a ROTH simple IRA, making it a more flexible option for retirement savings. Additionally, Secure Act 2.0 allows employees to use their ROTH simple IRA to pay for birth or adoption expenses, without incurring the 10% early withdrawal penalty. This provides families with greater flexibility and options when faced with significant life events. One caveat to keep in mind is that ROTH simple IRAs are subject to income limitations. For 2021, employees must have a modified adjusted gross income (MAGI) of less than $140,000 (single) or $208,000 (married, filing jointly) to contribute to a ROTH simple IRA. However, for those who do qualify, the tax-free growth potential and potential to withdraw funds tax-free in retirement make ROTH simple IRAs an attractive option. Overall, Secure Act 2.0 has made the ROTH simple IRA more accessible and flexible, providing potential benefits for retirement savings and expenses related to life events. As always, it is important to consult with a financial advisor to determine the best retirement savings strategy for your individual needs and circumstances. https://inflationprotection.org/secure-act-2-0-enables-roth-simple-iras-now/?feed_id=95236&_unique_id=6457c04bb668d #Inflation #Retirement #GoldIRA #Wealth #Investing #FinancialPlanningEducationTaylorFinancial #SimpleIRA #FinancialPlanningEducationTaylorFinancial

"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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