Timothy Sumer

People do Roth IRA conversions because they want to save on taxes or create a larger legacy for the next generation. It’s not easy to know if Roth IRA conversions are right for you. The answer to these questions will help you narrow in on this important decision. 🔥 What Issues Should I Consider Before I Retire? Get started today: Subscribe to be notified of future videos: 🔑 Key Topics : 0:00 - Intro 0:57 - Roth Conversions 5:00 - Planning Software 8:06 - Is It Good for Us While We’re Alive? 8:58 - Is It Good for My Heirs? 10:49 - Am I Willing to Let It Defer for Several Years? 11:31 - Outro ___________________________ We're a Frisco, Texas-based independent financial advisory firm serving individuals in several states nationwide. We're here to listen to your needs and guide you through the financial planning process. ___________________________ CONNECT 🤝 Nick's Newsletter: Facebook: Instagram: Linkedin: YouTube: ...

Retirement plans are sure to need a few changes due to the SECURE ACT 2.0 updates that passed in December of 2022. New required minimum distributions, lower penalties, more ways to save for retirement, and more mark this over 4000-page law. There are over 100 changes that will need to be implemented over the next several years. In this video, I cover 10 key changes that stand out! 📃 Download Your Secure 2.0 Comprehensive Summary List 🔥 Get The Ultimate Social Security Cheat Sheet Here! www.ss.brindleandbay.com 🔑 Key Topics : 0:00 - Intro 0:52 - RMD Pushed Out 2:51 - Reduced Penalties for Missing RMD 3:31 - Ways Around 10% Penalty 5:25 - No RMD on Roth 401Ks 5:58 - New SEP Roth IRA & Simple Roth IRA 6:49 - 529 to Roth IRA 8:54 - Employer Match Can Be Roth Election 9:39 - High Earner Catch-Up Must Be Roth Election 10:37 - Increased Catch-Up Contributions 11:57 - New Inherited Account Election for Spouses 13:41 - Outro ____________...

Up to 85% of your Social Security can be taxed. Any tax on your Social Security is double taxation because you’ve paid into the system on post-tax money. Some people will pay more in taxes than others due in part to the “phantom tax” Social Security creates. Learn the three things to do that can help to reduce or eliminate your extra taxation on Social Security. 🔥 Get The Ultimate Social Security Cheat Sheet Here! Visit us at: How Is SS Taxed? : 🔑 Key Topics : 0:00 - Intro 0:44 - Background Info 2:09 - Adjust Your 401K Contributions 3:27 - Overstuffing 401K Example 4:52 - Put Some Dollars in Roth 6:19 - Strategize Your Taxes 8:00 - Outro ___________________________ We're a Frisco, Texas-based independent financial advisory firm serving individuals in several states nationwide. We're here to listen to your needs and guide you through the financial planning process. ___________________________ CONNECT 🤝 Nick's Newsletter...