Timothy Sumer

Saving for your retirement in a Roth IRA has income limits. If you are a high-income earner, you may be able to take advantage of a backdoor Roth IRA. Learn what they are and how they work in this quick video. For help planning for your retirement, contact our team at 309-699-6608 or jga@midwesternsecurities.com. Securities, Insurance, and Investment Advisory Services are offered through Midwestern Securities Trading Company, LLC (MSTC). Member FINRA/SIPC. MSTC and JGA are affiliated. Information provided by Registered Representatives of MSTC is neither tax nor legal advice. Investors should speak to their tax professionals for specific information regarding their individual tax situations. #InvestedInYourLegacy #InvestWithJGA #IRA... ( 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 IRAs: An Efficient Path to Tax-Free Retir

... ( 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 Form 8606 and the Backdoor Roth: Unlocking Financial Freedom for Retirement When it comes to planning for retirement, having a diverse range of investment options is crucial. One powerful tool that individuals can leverage is the Backdoor Roth IRA, which allows them to maximize their savings potential and potentially grow their wealth tax-free. However, to successfully navigate the process and ensure compliance, understanding Form 8606 is essential. Form 8606, the Non-deductible IRAs form, is an IRS document that individuals use to report non-deductible contributions made to traditional IRAs. This form also comes into play when executing the Backdoor Roth IRA strategy. In a nutshell, the Backdoor Roth IRA allows high-income earners to convert their traditional IRA funds into a Roth IRA,

#shorts... ( 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: Did You Know This Backdoor Roth IRA Tip? Introduction: When it comes to retirement savings, utilizing various investment strategies and tools can greatly enhance your financial security in the golden years. One such strategy that may not be well-known to many is the backdoor Roth IRA. While the concept might sound complex, understanding and implementing it correctly can offer significant benefits. What is a Roth IRA? Before we delve into the details of the backdoor Roth IRA, let's first understand the basic concept of a Roth IRA. A Roth IRA is an individual retirement account that allows individuals to contribute after-tax income, which can then grow tax-free. This means that once you reach retirement age, withdrawals from a Roth IRA are tax-free, making it an attrac

The Backdoor Roth lets high-income earners still contribute to a Roth IRA even if they are above the income limit, but there are two catches you need to know. Read the Zenith Newsletter at Become a Financial Luminary for just $9.99 a month! ... ( 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 BUY THE GOV'T OUT OF YOUR RETIREMENT | Backdoor Roth IRA & The Pro Rata Rule When it comes to planning for retirement, individuals often look for ways to maximize their savings and minimize tax liabilities. One strategy that has gained popularity among high-income earners is the Backdoor Roth IRA. This method allows them to contribute to a Roth IRA, regardless of their income level, by circumventing the income limits imposed by the government. However, a potential hurdle in utilizing the Backdoor Roth IRA strategy is the Pro Rata Rule, whic

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 their retiremen

In this video Nathan, a Certified Tax Specialist (TM), explains what a backdoor Roth IRA is as well as the 5 mistakes to avoid when it comes to a Roth IRA. Link to article: 02:20 Backdoor Roth IRA 02:43 Mistake 1: not paying attention to the Pro Rata Rule 03:47 Mistake 2: Not taking advantage of the escape hatch 04:46 Mistake 3: Watch out for Grand Slams 05:25 Mistake 4: Not converting regularly and tracking it 06:15 Mistake 5: Holding off because of legislative risk To inquire our services: team@independence-money.com (970) 818-5243 Different types of Financial Advisors. Broker VS Licensed Fiduciary Investment Advisors. How do they differ? Hey Finance Lovers, ✤✤ Welcome to “Independence Money” You’re in the CORRECT place if you’re looking for Personal finance, retirement planning , and tax planning content to brighten your day. We help protect assets and income from the theft of taxation! Our expertise on tax strategies, precious metals, asset

In 2023, you can contribute up to $66,000 if you’re under 50 and $73,500 if you’re 50 or older to your 401(k) using the Mega Backdoor Roth provision. Employees at Microsoft, Amazon, Meta, Nike, Intel, and many other tech companies have access to this benefit. The Mega Backdoor Roth enables you to contribute thousands in after-tax dollars and convert those dollars to Roth. This benefit is sometimes referred to as the after-tax Roth conversion within your 401(k). 00:00 Introduction 00:14 Companies that offer the Mega Backdoor Roth 00:26 Mega Backdoor Roth example If you’re on track to max out your 401(k), this is a benefit worth leveraging. 401(k) contributions increased in 2023. If you’re under 50 you can contribute up to $22,500 and if you’re 50 or older you can contribute up to $30,000. The Mega Backdoor Roth allows you to contribute additional after-tax dollars up to the federal limit. The Mega Backdoor Roth gives high-income earners access to benefits associated wit

Learn the EFFICIENT way to get $66,000 in your solo 401k! Full video at 11am EST Today #MegaBackdoorRoth #RetirementSavings #FinancialFreedom #EasySteps #401k... ( 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 Backdoor Roth: A Smart Strategy for Wealth Accumulation retirement planning is a crucial aspect of financial management. It involves making strategic decisions on how to save and invest funds to ensure a comfortable future. One strategy that has gained popularity in recent years is the Mega Backdoor Roth, a tool that can supercharge retirement savings beyond the limits of traditional retirement accounts. What is a Mega Backdoor Roth? The Mega Backdoor Roth is a unique contribution strategy that allows individuals to make significant after-tax contributions to their retirement savings. Unlike a traditional Roth IRA, which

The Ramsey Show (Replay) for September 15, 2023 Subscribe and never miss a new episode from The Ramsey Show: Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Find out where to start: Support our Sponsors: Watch full episodes of The Ramsey Show right here! You’ll learn how to handle money, career advice, navigating relationships, plus tons of other life-changing content. Join Dave Ramsey and his co-hosts starting at 4pm EST Monday-Friday with less commercials and more of the Dave Rants and debt-free screams that you want. Experience one of the most popular talk radio shows in the country. Watch and subscribe to all The Ramsey Network shows here: Ramsey Solutions Privacy Policy ... ( 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 Ramsey Show (Replay): Empowering You to Take C

又到了采蘑菇的季节啦！现在有Hen 母鸡，还有honey 黄蜜。不过黄蜜不容易认，但老母鸡太容易了。采蘑菇的同时还可以给脑子放个假充个电。老母鸡不仅好吃，还抗癌，就是太难洗了，每次洗半天，不过采的多了可以分享给朋友，独乐乐不如众乐乐哈！ 欢迎关注潘老师小课堂！ ********************* 欢迎大家订阅《潘老师小课堂》，理财退休生活有保障！ 想了解更详细的内容，或者有任何有关退休，年金，免税收入，人寿保险，医疗保险，税务规划等等方面的，可以跟我们联系： 电话: 734-386-9145/682-433-6055 email：panfinancialinc@gmail.com 微信：pan-financial-inc 公众号： ********************* 其他节目： 最近很多年金促销，401k/IRA转入年金要交税吗？年金拿出来要交税吗，怎么交税？请参考：潘老师小课堂第88期，年金与税务， 第87期，卖出租房要怎么交税？有哪些税？5重税plus+，如何避免。 退休规划第86期：社安金领取和红蓝卡申请时间要一致吗？有相关性吗？ 第85期，交税了却没有积累点数。不同的收入不同的税，哪种收入都能积累社安金和红蓝卡的40个点的。 第84期：2023年挣多少钱算一个积分？ 第22期：父母移民美国怎么购买医疗保险？ 第81期： 没有40个积分有社安金养老金和免费的Medicare红蓝卡 Part A吗？不工作的单身、离婚、已婚配偶和丧偶的有什么不同，离异又复婚的怎么算？领取配偶社安金的一半到底有多少 第80期：您知道多大年龄可以领社安金，领多少？能提前领吗？夫妻或单身领取策略有什么不同？ 第11期：退休规划：如何优化配偶社安金政府养老金，怎么领取可以最优化，没有工作过，退休可以领社安金吗？最多可以领配偶的一半，Social Security Spousal Benefit 第 8 期: 美国养老退休金，我们能拿多少社安金吗？手把手教你计算，如何优化社安金领取，什么年龄拿社安金比较好呢？晚拿每年8%增长，Social Security Benefit, 拿社安金需要的条件 第79期：房产证上可以加孩子的名字吗？有什么潜在风险？如何避免巨额税和罚款，赠与税，遗产税 第78期：外国人在美国投资房地产，可能多交税喔，

Income Tax Planning: A Brief Overview of How Much Tax you Pay and How to Manage Taxes Effectively Is managing personal your finances complicated? Are you struggling with debt, credit card bills or taxes, or wondering how to invest for the future? If so, don’t miss important conversations on debt, credit scores, income taxes, and the pros and cons of investing in stocks, bonds, and alternative assets. Experts from the nonprofit Financial Planning Association of Metro New York will provide insights on the steps you can take to improve your financial life. Each hour-long session will include a Question-and-Answer section moderated by Senator Krueger. Speakers: -Stephanie Chau, CPA, CFPⓇ, Advocacy Committee Member, Financial Planning Association of Metro New York -Anja Luesink, MBA, CFPⓇ, RLPⓇ, CeFTⓇ, GFPⓇ, Advocacy Committee Member, Financial Planning Association of Metro New York Presenter PowerPoint: - FPA Presentation: Financial Planners Association of the New York M

"Is it worth contributing to a Roth IRA after 50?" One of the advantages of a Roth is that you can contribute at any age. You can determine the amount you need for retirement and then calculate how much you need to contribute based on the age at which you want to retire. Then you can start contributing. Another amazing thing about the Roth is your ability to make back-door contributions. 📌Save it for later 💯 📌Like, share and comment 👇 👉 Follow @christianiecarty for more Insightful Content 👉 Follow @christianiecarty for more Insightful Content . . . . Hashtags:- #taxadvisor #taxtips #taxplanning #wealthplanning #taxconsultant #financialadvisor #financialplanning #taxes #financialfreedom #financialeducation #incometax #rothira #financialfreedom #retirementplan #wealthbuilding #Iracontributions #retirementplanning #contentcreator #reels... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA T

Backdoor Roth contributions are a common strategy we use with high-income professionals who exceed the annual income limits to contribute directly to Roth accounts. Using a backdoor Roth strategy allows them to get extra savings into Roth for tax-free compounded growth for life. Unfortunately, when super-savers come to us after attempting a Backdoor Roth contribution on their own, a common mistake arises time and time again – forgetting to fully clean out an IRA of all pre-tax dollars before executing the strategy. Why is this important? A critical statute known as the pro-rata rule can cause you to pay more taxes than necessary on the Backdoor Roth strategy if you aren't meticulous about every step along the way. What is the Pro-Rata Rule for a Backdoor Roth? For the Roth Conversion step when performing a Backdoor Roth contribution, the pro-rata rule says that all IRAs are treated as one IRA. This means that any funds converted to Roth will be taxed proportionall

What is a Roth conversion and why should you consider it? The ultimate goal is a tax-free retirement. All qualified Roth distributions are free of taxes. Of course, retirement funds can't escape the tax man altogether, so when you convert traditional, pretax funds to Roth, you will owe taxes. On this episode of Adam Live, IRA Financial founder, Adam Bergman, Esq. will discuss what a Roth conversion is, how to perform one, and the rules you need to be aware of. He will also explain why and when you should consider doing one. Join us LIVE on Thursday, September 21st at 1:00PM EDT! *please note the date change* -- Learn more: -- About IRA Financial: IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created I

💡 AVOID COSTLY ROTH IRA MISTAKES! 💰 🚫 Don't make these common errors with your Roth IRA that could cost you thousands: 1. Missed Contributions: Maximize your contributions every year. 2. Failing to Invest: Put your Roth IRA contributions to work. 3. Early Withdrawals: Don't touch your contributions; let them grow. 4. Taxable Accounts vs. Roth IRA: Understand the tax advantages. 5. Backdoor Roth IRA: Explore this strategy if you exceed income limits. 6. Multiple Roth IRAs: You can contribute to multiple accounts but stay within the annual limit. 🔒 Secure your financial future by avoiding these pitfalls! Your Roth IRA is a powerful tool for retirement. Like, comment with questions, and subscribe for more financial wisdom! 💪🌟 **I'm not a financial advisor; I create these videos for entertainment. The information provided here is solely for informational purposes and should not be considered as personalized investment advice, legal or tax advice, or an offer