Timothy Sumer

A 401(k) loan can provide money when you need it, but it’s important to know how the process works. Each employer is different, so a first step is to verify that your job offers 401(k) loans, and you also need to know exactly how much money you have access to. This video covers the rules and logistics of borrowing from a 401(k) plan. You’ll understand how to get a 401(k) loan and what to expect when it comes to repaying your loan. We also review some costs and risks, including interest costs and potential opportunity cost. But perhaps the biggest risk for some people is needing to repay the loan when you leave your job. You can typically borrow up to $50,000 or 50% of your “vested” loan balance (see what vesting means here: That can be straightforward or complicated, depending on what types of money you have in your 401(k) and any loans you’ve taken in the past. Borrowers don’t need to qualify based on a credit score, and you typically repay 401(k) loans over five years....

Single people can and do retire comfortably. Many of the retirement planning concepts are the same as they are for couples, but it’s wise for singles planning for retirement to pay extra attention to long-term care and other topics. Please note that I try to continually improve content on this topic, and my latest information is at 🙋 Do you have suggestions for how singles can plan for retirement and long-term care? Please share in the comments below or send me an email! With Social Security or a pension, you get a base of income. If that’s not sufficient to cover your after-tax spending needs, you typically supplement that income by spending from your retirement savings—your 401(k), 403(b), IRAs, etc. Most people don’t “live off the interest.” Instead, they spend down their assets, so it’s important to have a robust investing and income plan that accounts for taxes, inflation, unpredictable markets, and other surprises. See the most important aspects of re...

A Social Security bridging strategy involves spending from your assets after you stop working instead of taking your retirement benefit immediately. There are pros and cons of this approach, but the benefits can be substantial. In particular, you might: ☑️ Maximize your retirement income ☑️ Reduce risk over the long term ☑️ Open the door to tax strategies ☑️ Possibly help improve things for a surviving spouse ☑️ And more But there are no guarantees in life, and there are always tradeoffs. That’s true with a Social Security bridge, as well. For instance, you might be hesitant to spend down your assets while you wait. That’s understandable. And delaying benefits isn’t right for everybody. Whether you have health issues or you just want the income sooner than later, it could be appropriate to take benefits early. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6...

It’s hard to believe that we’re approaching the 100th episode of The Guided Retirement Show. But before we release that special episode later this season, we want to reflect on The Guided Retirement Show’s first two episodes. They were released back in 2019 and focused on Roth vs. traditional IRAs. Along with looking back at what all has changed in the tax code that impacts the Roth vs. traditional decision, we need to take a forward-looking approach during this discussion. That’s because there are new tax laws scheduled to start in 2026 after the Tax Cuts and Jobs Act sunsets. There a lot of things that need to be considered when choosing between Roth and traditional. Modern Wealth Management Managing Directors Dean Barber and Bud Kasper and Director of Tax Corey Hulstein, CPA are going to review those considerations. In this podcast interview, you’ll learn: • The Difference between Roth vs. Traditional • Tax Rates Are Scheduled to Go Up in 2026 • Some of the Key Changes...

Welcome! In this video we'll be going over how to utilize a trust as a beneficiary of an IRA. Subscribe to be notified of future postings! For more information visit our website: and be sure to connect with us on Linked In: DISCLOSURE: The views expressed in this presentation represent the opinions of Carmichael Hill and are not intended to predict or depict performance of any investment. The views expressed are subject to change based on market conditions and other factors. These views should not be construed as a recommendation for any specific security or sector. Investing involves risks, and the value of your investment will fluctuate over time and you may gain or lose money. Please consult with your financial advisor to determine which investment strategy is best for you. Past performance is no guarantee of future results.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver...

Conversions of the Traditional portion of a Thrift Savings Plan to a Roth IRA may not work for everyone, but if done properly and at the right time, you could see more net income from your TSP in retirement. In this episode, we will discuss key points you should know before taking any actions and provide 3 strategies of when a Roth conversion may be best for you. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. In this episode we will go over: - 3 considerations when comparing Traditional and Roth IRAs - Key Points to know before you convert an IRA - 3 strategies of when a conversion might be best for you 0:00 Intro 1:43 Why choose a Roth? 2:30 Key Points to know before you convert an IRA 5:49 3 strategies of when a conversion might be best for you Footnotes for: Roth Conversion at Retirement Strategy This example uses ...

Inflation is a monetary phenomenon, and it naturally rises from time to time. Unfortunately, a high-inflation period is upon us now, but that shouldn't influence your investment strategies. Investing in stocks over bonds is a great strategy since stocks adjust to inflation much better than bonds do. Listen to the full podcast here: #wiserretirement #investmentportfolio #investmentmanagement #useconomy #inflation #stockmarket #bonds... ( read more ) LEARN ABOUT: Investing During Inflation REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Investing in High-Inflation Times: Strategies and Considerations Inflation, a sustained increase in the general price level of goods and services, can have far-reaching effects on various aspects of an economy. One significant area that experiences the impact of inflation is investments. High-inflation times present unique challenges ...

Adam welcomes Brandon Caldwell, Senior Mortgage Advisor with Ruoff Mortgage to discuss rising interest rates and the changing mortgage market for residential purchases.  Brandon shares more about certain changes to regulation that make it more expensive for a qualified borrow to get a mortgage and more affordable for a less qualified borrower.  Brandon also talks more about loan level price adjustments and how they work during the mortgage process.  Given the prominence of new construction deals happening in the market Brandon explains those products and how they are trickier than you may anticipate.  Adam and Brandon also discuss some of the lesser utilized yet still viable products in today's market including Bank Statement Loans, No Doc Loans, and DSCRs.  Lastly, Brandon shares his advice to those who think they should wait until mortgage interest rates decline.   Email Brandon: B.Caldwell@ruoff.com  Brandon Caldwell Senior Mortgage Advisor  Ruoff Mortgage, NMLS I...

How do you build your financial future when you're single? In this webinar, Senior Financial Planner, Allison Alley, CFP® explains how to map out your retirement journey, create a budget, and manage debt, with specific strategies for every generation. Whether you're a millennial, a Gen-Xer, or a baby boomer, Allison offers tips and strategies around emergency savings, Social Security, saving for retirement (including catch-up contributions), and managing your investment portfolio during market downturns. Throughout the webinar, Allison also answers viewer questions about retirement as a single person. Download the guide to Going Solo: How to Navigate Your Financial Future Single: 00:00 - Intro 02:19 - Retirement Savings by Generation 04:12 - Millennials' Solo Retirement 09:51 - Generation X Solo Retirement 20:15 - For the percentage of salary to save, are you referring to gross or net income after taxes and retirement contributions? 20:30 - How does the death...

Jack and Diane will inherit about $4.5M from Diane’s parents. How do they manage the required minimum distributions? Which of three options should Matt take with his inherited IRA? Making the most of your inheritance, today on Your Money, Your Wealth® podcast 435 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Clay wants to know if it’s a good idea to take money off the table and rebalance to safer or more aggressive investments, depending on your risk tolerance? Can Elizabeth offset pre-tax IRA losses with the gains from the sale of rental real estate? Is it true that you can make one-time contributions from your IRA to your HSA that is, your health savings account? And finally, can Cory gift stock to his daughters and avoid paying the kiddie tax as a way to pay for college? And can Rich supercharge a 529 college savings plan with himself as beneficiary? Podcast show notes, free financial resources, episode transcript: - 00:00 - Intro - 00:58 - How Do We Manage RMDs...

"YMYW Gents - Steven again from steaming hot Texas. Thank you for covering my question in today's episode! I have a different perspective to offer which might influence your spitball. In your spitball today, you guys spoke a lot about how the tax I would pay doing a Roth Conversion is equal to the tax I've already paid on the dollars I would use for a Backdoor Roth. I understand that completely, but my motivation for pondering a Backdoor Roth is not about taxes. My motivation for doing a Backdoor Roth is to introduce new dollars into my retirement portfolio to see compounding growth until I reach retirement in 20+ years rather than those dollars sitting in my savings account. I think the notion that a Roth Conversion and a Backdoor Roth are "same same" makes sense from a tax perspective, but not from a long term growth perspective. After doing a Roth Conversion, there would be no increase to my overall retirement portfolio balance like there would be af...

See two of my favorite strategies for delaying your Social Security retirement benefit. There are other solutions as well, but we get into the pros and cons (and a brief example) of working longer and spending from your savings. The longer you wait to claim your Social Security benefit, the more you get. Your benefits increase by roughly 8% per year until age 70, but most people can claim as early as age 62. There’s a big difference between how much you get at age 62 and age 70. Unfortunately, it’s not as easy as saying “I’ll just wait.” If you stop working before you take benefits, you’ll need a way to pay expenses before those Social Security payments come in. You can use your 401(k), IRA, or other retirement savings accounts to pay costs. Taxable accounts and other financial resources can also come in handy. But it takes some careful planning to pull this off—you’re going to take significant withdrawals from your savings, so it’s crucial to run some numbers (of course...