Timothy Sumer

Does your 401k have a provision that allows you to superfund the account? If so, you can add up to an additional $43,500 of after-tax contributions, which is separate from the $22,500 employee deferral. (Don’t forget to subtract your employee contribution!) Then, if you convert it to a Roth, you won’t pay a dime of taxes on those earnings. Sound illegal, but it isn’t! Just listen to all the benefits that will save you money! Del Monte Group has been in business for over 35 years, cultivating relationships and building a family of lifelong clients just like you. If you need help navigating life challenges, are seeking smart, resourceful planning, or just want to find confidence and peace of mind, get in touch. We’re always here to help at 925.736.6410, Richard@APlaceOfPossibility.com, or Angela at Angela@APlaceOfPossibility.com. YOU’RE INVESTED, AND SO ARE WE™. If you’re looking for out-of-the-box financial wellness support that offers long-term success even while ...

In this video, I answer the question, "how much can I contribute to my 401(K)?" First, I explain how the 401k works and a comparison to the Roth IRA. Then I talk about a few of the 401(k) retirement rules. After, I show a w-2 form so you can see how the 401k reduces your taxes but is still subject to social security and Medicare taxes. Lastly, I explain how the matching contributions work and go through a few examples of how the 401k reduces your taxes. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an on...

Have you ever wondered what the differences between a Roth IRA and a Traditional 401k are? Well I am here to help. To answer this questions, there is no one size fits all approach for what is better. This is going to depend on the individual. However, hopefully the video helped you to understand what each of these items are and which one is right for you? ROTH IRA: what is a Roth IRA? A Roth IRA is a retirement account that you can contribute 6,000 to and for people over 50, you can contribute 7,000 dollars all of which is after tax contributions. Meaning that you have already paid taxes on the money. This money will continue to grow and come out both tax free. With compound interest the earlier you start here, the better. Pro's of the Roth - Your saving are growing tax free because you have already paid taxes on them. - There is no mandatory age for withdrawals. With a Roth, you can withdrawal your contributions anytime without a penalty. However, if you withdrawal...

Give Money to Get Money! #shorts By Giving Money, You CAN Get Money! If you have a 401(k) where your company matches, you can get up to 100% return on any money you contribute, up to the company match. Maximize this feature of your 401(k) and your future retirement may thank you! #401kmatch #401kcontributionlimits #givemoneygetmoney... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing 401k match is a benefit offered by many employers that allows employees to contribute a percentage of their salary to a retirement savings plan. The employer will then match a certain percentage of the employee's contribution, up to a certain amount. This means that if you take advantage of the 401k match, you can effectively double your money over time. The concept behind the 401k match is simple. By contributing a portion of your salary to y...

Hi guys, in this video, I am sharing EXACTLY what a 401k is. A few videos ago I talked about maximizing your 401k but I forgot to talk about what it is and how you can request it at your job. I hope that this information helps you on your road to a better retirement. You might not be thinking about retirement now, but 10 years before you decide to retire will be your time to make sure that you have all of your money in order and your ducks in a row. #401k #whatisa401k #retirementplanning #retireearly IF YOU LIKE MY CONTENT AND WANT TO SUPPORT MY MISSION TO INSPIRE OTHERS TO GET TO KNOW THEIR MONEY BETTER, THEN I WOULD LOVE A CUP OF COFFEE: LOOKING FOR A WORK FROM HOME JOB? JOIN MY NEW FACEBOOK GROUP: *Comment below with any questions or new topics you would like me to discuss! **Give a LIKE to the video! ***SUBSCRIBE to stay up to date! NEED FINANCIAL PLANNING or HELP WITH YOUR TAXES? Email me contact@thefinancialspotlight.com CONNECT WITH ME & GET MORE FREE FI...