Timothy Sumer

The Money Guy Show Audits @CalebHammer Special thanks to Caleb for hosting us at his studio and for being open enough to have his finances audited on our show! We had a great time! Watch Bo & Brian team up with Caleb for an audit of our friend Joseph on his channel! Watch more Caleb Hammer Financial Audits: Chapters: 0:00 Intro 02:25 Caleb's Backstory 04:27 Caleb's Biggest Fears 08:13 Cash is King (Emergency Funds) 22:35 "This money doesn't exist" (Investing) 26:25 Avoiding Taxes (401k Plans) 29:37 Google Sheets?! (Organizing a Small Business) 33:30 Real Estate...Why?! 1:00:12 "8 Different Flavors of the Same Hotdog" (Index Funds) 1:08:41 "Resources give you options" (Money is a tool) 1:10:22 British Accents 1:12:19 Car Buying 1:17:33 Hot Takes (House & Business Equity) 1:27:30 You don't know what your time's worth!! Jump start your journey with our FREE financial resources: Reach your goals faster with our

Episode #451 This “financial order of operations” could be your ticket to financial freedom. If most Americans followed these steps, they would find themselves debt-free, with full retirement accounts, passive income, and “wealth-accelerating” investments that only top-income earners can access. But you don’t need to make hundreds of thousands of dollars a year to follow this “Stairway to Wealth”; you just need to follow these steps! Andrew Giancola from “The Personal Finance Podcast” built the “Stairway to Wealth” after realizing that the common wealth-building plans, like Dave Ramsey’s “Baby Steps,” wouldn’t fit most people’s lifestyles. Instead, Andrew worked to develop a system that almost anyone could use, one that was tailored to TODAY’s financial environment and gave people more of a choice when it came to their investments. Following this nine-step plan, you can go from low cash and high debt to debt-free, financially safe and secure, and invested for your future.

I chat with Trevor Ellis, CFP®, with Northwestern Mutual and we discuss retirement and tax strategies at various life stages. Subscribe for more interviews and tips! For more info on Trevor and his services, check out his LinkedIn: 00:00 Intro 00:24 Why financial planning career? 01:56 Different Tax Buckets 05:58 Paying down debt 10:20 HSAs 14:35 Backdoor Roth IRA 19:05 Advice for early accumulators 20:30 Advice for 5-10 years from retirement 25:21 Common mistakes 27:36 Roth Conversions 30:18 Trevor's Info Disclaimer: The information provided is for general informational purposes only and should not be construed as financial, legal, or tax advice. Always consult with a qualified professional before making any financial, legal, or tax-related decisions.... ( 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 Episode 25: Retirement and

Where should you open a Roth IRA? This video covers the 3 BEST Roth IRA Accounts to choose from for beginners, including everything you need to know about Roth IRA's - Enjoy! A recent poll on my channel showed 33% of people don't have a Roth IRA. Roth IRA's could reap tremendous rewards as you plan for retirement since your entire account will be TAX FREE. Relevant Videos: - Fidelity Playlist To Learn More - Fidelity Roth IRA For Beginners - Roth IRA | How To Become A TAX FREE Millionaire - Traditional vs Roth IRA | Which Is Better For You? - Mutual Funds vs Index Funds vs ETFs Not Affiliated: 1. Sign up on Fidelity: 2. Sign up on Vanguard: 3. Sign up on Charles Schwab: Resources: 🗞️ Get My Free Weekly Newsletter: 🔑 My Exclusive Content: 📝 X: 🌐 My Website: dannysmoneytalk.com 📕 Books I Have Read: 🎙️ My ENTIRE YouTube Setup: Free Learning Guides/Templates: 💸 Investing 101: 🐷 Savings Account Mastersheet: 📈 3 Fund Portfolio Guide: S

Follow 👉 @austinwhaley_ for daily finance tips! Roth IRA’s can be a powerful account for retirement planning , but because they are so beneficial, they do come with some limitations. For 2023 you can contribute up to $6,500 ($7,500 if you are 50 years or older), and you can be disqualified from contributing if you make over $153k (if you’re single) and $228k (if you’re married). If you exceed these thresholds, be sure to check out the “back door Roth IRA”. This can allow you to still contribute up to the max contribution limit, despite having a higher income! Just be sure to consult with a financial advisor to properly execute this strategy!👍 Are you planning to max out your Roth IRA this year?… . . . . #rothira #taxfreeretirement #backdoorrothira #iralimits #taxfreewealth #taxfree #investingtips #moneytips #learntoinvest #investingforbeginners #investing #financialeducation #personalfinancetips #financialfreedom #buildingwealth #investmentstrategy #financecoach #fin

🔐 Navigating the Pathways to Optimized Wealth with The Backdoor Roth! 🔐 Embark on a financial journey that guides you through the intricate lanes of the Backdoor Roth IRA, a strategy providing high earners with a golden ticket to tax-free income during retirement. This video is crafted to unveil the secrets to unlocking wealth through astute tax strategies, especially curated for high earners who seek to navigate around income limits for Roth IRA contributions. 🌟🚪... ( 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 Unlocking Wealth: The Backdoor Roth for High Earners When it comes to building wealth and securing your financial future, investing in a Roth IRA is a popular choice for many individuals. This retirement savings account offers tax-free growth and tax-free withdrawals in retirement, making it an attractive option. However, fo

... ( 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 How the Backdoor Roth IRA Contributions Work Investing for retirement is a crucial aspect of financial planning. Among the numerous retirement investment options available, the Roth IRA stands out as an attractive choice. Its unique tax advantages, such as tax-free growth and tax-free withdrawals in retirement, make it an excellent tool for long-term savings. However, individuals with high incomes may be ineligible to contribute directly to a Roth IRA due to income limits set by the IRS. Nevertheless, there is a workaround known as the backdoor Roth IRA contribution, which enables high-income earners to enjoy the benefits of a Roth IRA. So, how does the process work? Step 1: Understand the Basics of a Roth IRA Before diving into the backdoor Roth IRA contribution strategy, it's esse

Here's another quick tip from Andrew Rosen, President of Diversified, LLC. There’s still time to make backdoor Roth contributions this year. For more quick tips: Visit our website for more information: ... ( 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 Quick tip! There’s still time to make backdoor Roth contributions this year. If you haven't made your Roth IRA contributions for this year, don't worry! There is still time to take advantage of a backdoor Roth contribution before the year ends. Let's dive into what this means and how you can benefit from it. Firstly, let's understand what a backdoor Roth contribution is. A Roth IRA is an individual retirement account that allows you to contribute after-tax dollars, meaning that you won't be taxed on the withdrawals in retirement. However, there are income limits

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 Account: Learn More: Subscribe to our channel for weekly educational webinars: For ove

... ( 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 Write an article about Will Back Door Roth Go Away? #rothira #taxfree #taxfreeretirement #cashvaluelifeinsurance #moneytips in English https://inflationprotection.org/is-the-back-door-roth-likely-to-disappear-rothira-taxfree-taxfreeretirement-cashvaluelifeinsurance-moneytips/?feed_id=144796&_unique_id=6526b529c6031 #Inflation #Retirement #GoldIRA #Wealth #Investing #BackdoorRothIRA

The Mega Back Door ROTH IRA method can be a great way to build up tax deferred retired contributions in excess of typical IRA or 401k limits. Brian Lombardo, CFP(R), CPA www.brianlombardo.com blombardo@gfainvestments.com Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Gateway Financial Advisors, Inc., and Cambridge Investment Research, Inc. are not affiliated.... ( 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 The Mega Back Door Roth IRA: A Powerful Retirement Saving Strategy With the rising costs of living and increasing life expectancy, saving for retirement has become more crucial than ever. Luckily, there are various retirement saving strat

This week we’re discussing the mega backdoor Roth and what’s required to be able to take advantage of this strategy. Create an account to receive news, analysis, and important promotions. Simply fill out the form below and be added to our e-mail list: Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: www.caltax.com/research/spidell-federal-taxletter/podcast-transcripts/using-the-mega-backdoor-roth-strategy... ( 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 Podcast: Using the Mega Backdoor Roth Strategy Are you interested in finding a unique and powerful way to maximize your retirement savings? If so, then you need to tune in to our latest podcast episode. In this episode, we will be delving into the topic of the mega backdoor Roth strategy – a highly effective method for boosting

... ( 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 Backdoor Roth Part II: Unleashing the Power of Financial Freedom in Investing and Retirement When it comes to securing a comfortable retirement, we often hear about the importance of having diverse investment portfolios and utilizing various retirement accounts. One such account that has gained significant popularity in recent years is the Roth IRA. While contributing directly to a Roth IRA has income limits, many savvy investors have taken advantage of a strategy known as the backdoor Roth IRA conversion to overcome these barriers and optimize their retirement savings. In this article, we delve into Part II of the backdoor Roth IRA strategy and how it can help individuals achieve financial freedom. Before diving into Part II, let's briefly recap Part I of the backdoor Roth strategy.

Nike employees can contribute after-tax dollars to their Nike 401(k) and convert those dollars to Roth using the Mega Backdoor Roth provision. In 2023, Nike allows you to contribute 3% of your annual salary to the Mega Backdoor Roth, up to $9,900. First, it’s important to understand the 2023 401(k) contribution limits and the Nike employer match. 2023 401(k) contribution limits: Under 50 years old: $22,500 50 or older: $30,000 The Nike employer match is 5% of your annual salary. To receive the full match, you must contribute at least 5%. ******* 00:00 Introduction 00:17 2023 Nike 401(k) Contribution Limits 00:28 Nike Employer Match 00:56 Example: Nike Mega Backdoor Roth 01:32 Tax Benefits ******* The Mega Backdoor Roth is a way for high-income earners to contribute after-tax dollars to their 401(k) over and above the 2023 contribution limits and then immediately convert the after-tax dollars to their Roth 401(k). We think this is one of the best Nike benefits availabl

... ( 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 Backdoor Roth ProRata Rule: Maximizing Your Retirement Savings When it comes to planning for retirement, one of the most effective strategies is to contribute to a Roth IRA. A Roth IRA offers several advantages, including tax-free growth and withdrawals in retirement. However, for high-income earners, the ability to contribute directly to a Roth IRA may be limited due to income restrictions. Fortunately, there's a workaround that can help you take advantage of the Roth IRA benefits, even if you exceed the income limits. It's called the Backdoor Roth IRA, and it allows you to contribute to a Roth IRA indirectly. But before diving into the Backdoor Roth IRA strategy, it's important to understand the ProRata rule. The ProRata rule is a regulation implemented by the IRS to ensur

Did you know you could save more after-tax dollars in your Amazon 401k? You can then move the after-tax savings to a Roth 401k to withdraw tax-free down the road. Watch this to understand the details. 👉Get Our Free Guide On Saving in Your Mega-Backdoor Roth Here: 🎯 Subscribe to our Channel to not miss other helpful financial planning topics: Financial Symmetry is a Registered Investment Advisor in Raleigh, NC. This video is for informational purposes only and does not constitute individualized advice or a guarantee that you will achieve a desired result. You should consult with appropriate tax and financial advisors for advice specific to your situation. #rothira... ( 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 Title: How to Maximize Savings in Your Amazon Mega Back Door Roth 401k Webinar Introduction: The Amazon Mega Back Door