Timothy Sumer

We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. #retirement #retirementplanning #dohstr8 ---Ready to subscribe--- For more information visit: --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( 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 MEGA Backdoor Roth Conversion Explained in English retirement planning can be a complicated endeavor, filled with a labyrinth of terms and strategies that can leave many individuals scratching their heads. One such strategy that has gained popularity in recent years is the MEGA Backdoor Roth Conversion. While the name may sound intimidating, understanding this strategy is crucial for those looking to maximize thei...

A Roth IRA (Individual retirement account ) is a type of retirement savings account that offers unique tax advantages to individuals in the United States. It is named after Senator William Roth, who played a key role in its creation. Here are the key features and benefits of a Roth IRA: 1. **Tax-Advantaged Savings:** The primary advantage of a Roth IRA is its tax treatment. Contributions to a Roth IRA are made with after-tax dollars, meaning you don't get an immediate tax deduction for your contributions, unlike a traditional IRA. However, qualified withdrawals from a Roth IRA, including both contributions and earnings, are tax-free. 2. **No Mandatory Withdrawals:** Unlike traditional IRAs and 401(k)s, Roth IRAs do not require you to start taking required minimum distributions (RMDs) at a certain age. This flexibility can be advantageous for retirement planning , as you can leave your money invested for as long as you want. 3. **Flexibility in Investments:** Within a ...

Biden is spending money and someone has to pay for it. Investors and Retirement Plan Sponsors here is what the strategy is. See this video for technical advice on the conversion: "After-Tax Bucket"... ( 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 What is a Mega Backdoor Roth? When it comes to retirement planning and securing a financially stable future, Roth IRAs are considered one of the best options available. However, contributions to Roth IRAs are limited to $6,000 per year for individuals under the age of 50, and $7,000 for those over 50 years old. But what if you want to save more money for retirement in a tax-advantaged account? This is where the concept of a Mega Backdoor Roth comes into play. A Mega Backdoor Roth is a strategy that allows individuals to contribute significantly more to their Roth IRAs each year, by ...

Can I make 100% After-Tax Solo 401k Contributions (Mega Backdoor Roth)? Book a call: Our owners host daily webinars on our community where you can ask questions! Please join My Community to participate & ask questions: Please join My Community to ask questions: Free to Join! All are Welcome! LEARN MORE: The solo 401k plan , commonly referred to as self-directed Solo 41k is the retirement plan of choice for self-employed individuals or owner-only businesses including for the features highlighted below: -The highest contribution limits for any defined contribution plan including up to $57,000 (or even $63,500 if you are 50 or older) for 2020 (for 2021: $58k or $64.5 if you are 50 or older). -The ability to make pre-tax, Roth, and even Mega Backdoor Roth contributions. -401k participant loans of up to $50,000 -Invest with checkbook control in real estate, cryptocurrencies, notes, private placements, and other types of alternative investments. Open an Accou...

A mega backdoor Roth presents a wonderful opportunity to potentially save over $40,000 more into a Roth every year, even if you make too much money for a Roth IRA. We'll cover how a mega backdoor Roth works, as well as how you can take advantage of it. Every year the IRS tries to incentivize us through tax breaks on retirement accounts. Unfortunately, these contributions are capped for the 401(k). For 2022, you can contribute $20,500 ($27,000 age 50 and older) . And for an IRA, it's $6,000 ($7,000 age 50 and older). And additionally, if you make too much money for a Roth IRA, you might not be able to contribute. You might be a little confused if you look up the max 401(k) contribution because you might see a number that's a heck of a lot larger than $20,500, and that number is $61,000 ($67,500 age 50 and older). So, what's going on here? Well, if we include the employer side of the 401(k) contribution, we're capped at $20,500, but the employer can make...

In this video, I talk about the different ways you can contribute more money to a Roth IRA/401k legally (higher than set limits) using after tax contributions and discussing my own experience. 0:35 - Contribution Limits and Rules 3:00 - Tax Savings Over Time 3:44 - After Tax vs. Roth Contributions 4:19 - Converting After Tax Contributions 7:43 - Other Pro of Roth IRA 🎉Portfolio Access & Weekly Report, Real-Time Trades & Support, and Exclusive Livestreams & Voting Power: Join the Free Discord Investing Community: Get up to $1850 of free stocks with Webull when depositing $100: Free $10 for creating an account with Public: Stock Market Research, News, and Analyst Forecasting Tool (TipRanks Premium): Free $10 in Bitcoin when you buy $100 on Coinbase: CONNECT WITH ME ONLINE Disclaimers: Because the information herein is based on my personal opinion and experience, it should not be considered professional financial investment advice or t...

This video is about the Roth IRA phase out calculations for 2019. The contribution limits and income limits for the Roth IRA. Figuring out how much you can contribute to a Roth IRA depending on your income level. 💸 FOR MORE FINANCIAL PLANNING & ASSET MANAGEMENT 💸 Book a meeting and start financial planning and investing bit.ly/SickleHunterOnline Try out our financial planning tool today. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: ----------------------------------------------------- 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 ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions ...