Timothy Sumer

Have you noticed that you can't make direct Roth IRA contributions once your income gets too high? Whether you are filing taxes as Single or Married Filing Jointly there are "Income Limits" for who can contribute to a Roth IRA. However, did you know that Roth 401(k) contributions have NO INCOME LIMITS? Further, did you know that if you ZERO OUT your Traditional and Rollover IRA accounts, you can make 2-step Roth IRA contributions? Learn all about Roth IRA and Roth 401(k) contributions in this video. Thank you for watching and I hope you have a blessed day! You can share a review via Google using this link: More about Ten Talents Financial Planning (www.tentalentsfp.com): Hi, I'm Kaleb. I’m the Founder of Ten Talents. I'm blessed to be regularly featured in CNBC, MONEY, and Business Insider personal finance articles. I’m a CERTIFIED FINANCIAL PLANNER™ (CFP®) Professional based in Parker, Colorado and I'm a fiduciary and fee-only advisor. Pu

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 Maximizing Your Roth IRA: The Mega Backdoor Roth Method The Roth IRA is a powerful tool for retirement savings, allowing individuals to enjoy tax-free growth and withdrawals in retirement. While there are income limits and contribution limits on traditional Roth IRAs, there is a little-known strategy known as the Mega Backdoor Roth Method that can help high-income earners save even more for their retirement. What is the Mega Backdo

Today on Your Money, Your Wealth® podcast 403 with Joe Anderson, CFP® and Big Al Clopine, CPA, following the Fed’s fourth consecutive interest rate hike last week, should you be changing your investing strategy to time this inflationary market, moving from bonds to 3-year annuity CDs? Plus, Joe and Big Al spitball on asset location and Roth conversions for the in-laws, and a net unrealized appreciation (NUA) strategy for company stock in a 401(k). They also discuss whether extra home mortgage payments are part of an investment portfolio, and what real estate expenses are tax deductible. Show notes, free financial resources, transcript, Ask Joe & Big Al On Air: 00:00 - Intro 00:48 - Inflation Investing Strategy: 3-Year Annuity CD Vs. Bonds 12:58 - How to Invest When Inflation is Raging - Read the Blog: Download Pursuing a Better Investment Experience Guide: 13:24 - Net Unrealized Appreciation NUA Strategy for Company Stock in My 401(k)? (Bob, Medina, OH) 20:24 - Should

How much will money will you need in retirement, adjusted for inflation? Today on Your Money, Your Wealth® podcast 431, Joe Anderson, CFP® and Big Al Clopine, CPA spitball on your future dollars, how to calculate the tax on Roth conversions, and the benefits of converting to Roth in down markets. Plus, should retirement savings contributions be half pre-tax and half post-tax? And finally, saving to a 529 plan for your kids, or sending them to Hollywood stunt training camp - which would you do!? 00:00 - Intro 00:49 - How Much Will I Need to Retire in Future (Inflated) Dollars? (Jared, Clifton Park, NY) 05:51 - Can We Retire Early With $400K Savings and $80K Pensions? That Depends on the Inflation Factor (Marcus, Queens, NYC - from episode 373) 14:36 - Big Al’s Quick Retirement Calculator - download: 15:22 - How to Calculate Tax on Roth Conversions & the Benefits of Converting in Down Markets (Robin) 20:00 - Should I Save Half Pre-Tax and Half-Post Tax for Retirement? (

In order to retire comfortably at age 60, what should you be doing with your finances when you’re in your 20s? A framework for getting started planning for retirement, today on Your Money, Your Wealth® podcast 419 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, if you’re a small business with a SIMPLE IRA plan, is it stupid to save for retirement in a brokerage account rather than a traditional IRA? If you inherited money and promised to donate to charity, should you do Roth conversions? What’s the most efficient way to pay financial advisor fees, and what’s a good strategy for making pre-tax and post-tax retirement contributions? Podcast show notes, free financial resources, Ask Joe & Big Al On Air: 00:00 - Intro 00:51 - A Framework for Getting Started in Planning for Retirement (Anonymous) 05:36 - I’m 24. What Should I Do to Retire Comfortably at 60? Michael, 24 (Binghamton, NY) 11:18 - Cracking the Code to Succeeding Financially at Any Age - Watch YMYW &

Generally, if you receive a distribution from an IRA or qualified retirement plan prior to reaching age 59 1/2, you pay a 10% penalty tax (in addition to the ordinary income tax) on the distribution. However, if you retire on or after reaching age 55, you may be able to receive penalty-free distributions from your employer's qualified retirement plan (such as an employer-sponsored 401(k), 403(a), or 403(b). In this presentation, we discuss the general requirements, exceptions, and reporting surrounding the rule of 55.... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Tenth of an Hour: Episode 111 - Rule of 55: Early Distributions from Qualified Retirement Plans retirement planning is a critical aspect of every individual's financial journey. As we work towards ensuring a secure future, understanding the

In this short video, Joe and Al discuss five of the most common mistakes people make with their IRA (individual retirement account ) beneficiary forms. Find out why naming the trust as the beneficiary of your retirement account is not the best idea. Feel rest assured that your legacy remains intact and is handed down to the right people after you pass. Important Points: 0:04 "Some of this seems logical but we're seeing these mistakes over and over again like for example: some of you have IRAs or 401(k)s where you don't even have a beneficiary form on file" 0:26 "How about if it's an outdated form? You have your prior spouse on there...guess what? That spouse is going to receive your IRA or 401(k) unless you change the beneficiary statement" 1:36 "Here's the biggest one - naming the trust as the beneficiary. Huge, huge mistake because a trust is an entity - not a human being. It doesn't have a life expectancy" 2:11 "

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 ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing Will The Housing Market Crash During A Recession? One of the significant concerns during economic recessions is the impact they can have on the housing market. The idea of a housing market crash, similar to what occurred during the 2008 financial crisis, is a fear that often looms large in the minds of both potential homebuyers and homeowners. While it is impossible to predict with certainty what will happen during a recession, it i

When saving money through your job’s retirement plan , you often get to choose between Roth 401(k) vs. traditional 401(k) contributions. So, which is best? The choice comes down to when you want to pay taxes and other factors. - With Roth 401(k) contributions, you pay tax on all of your income today, but you ideally get tax-free income in retirement. For that to work, you need to satisfy specific IRS rules. - With traditional pre-tax 401(k), you reduce your income by the amount you contribute to the plan. That helps you save on taxes this year, and it might make it easier to save money in your plan. 🌞 Subscribe to this channel (it's free): Get free retirement planning resources: 🔑 9 Keys to Retirement Planning 🐢 6 Safest Investments Note that this applies to other types of plans as well. For example, if you have Roth 403(b), 457, or TSP—or even Roth Solo 401(k)—things are similar. Check with your plan administrator and tax expert just to be sure. Info from thi

"I have a difference of opinion with our financial advisor as it relates to Roth conversions that I would like to get your perspective on. Our retirement assets include $1.7M in traditional IRAs, $220K in a Roth IRA, $81K in an HSA and $865K in taxable brokerage accounts and cash. Our investments are mostly balanced between stock and bond index funds, with a cash reserve to cover 2-3 years living expenses. I collect a pension from my former employer of $62K/year. We are deferring our Social Security until age 70 at which time we expect to get around $78K/year. That plus a deferred fixed annuity should give us around $150K/year of lifetime income by age 70. I want to draw down the traditional IRAs during our “gap” years and pay the taxes now at the current historically low rates, maxing out the 22% bracket each year (no state income tax in Florida). This amounts to about $150K of traditional IRA distributions each year. I am allocating $50K of the $150K of IRA withdrawals

Lump Sum option description in detail... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inheriting IRAs Lump Sum: A Guide to Understanding the Process Inheriting an Individual retirement account (IRA) can be a significant financial benefit for individuals who find themselves as beneficiaries. The distribution options for inherited IRAs can vary, and one of the options available is to receive the funds as a lump sum. In this article, we will discuss what it means to inherit an IRA lump sum and the key factors to consider when making this decision. First and foremost, let's clarify what an IRA is. It is a tax-advantaged retirement savings account in which individuals can contribute money each year. The contributions and earnings within the account grow tax-deferred until withdrawals are made during retirement. However, when the original ac

(573) 874-3888 If you’re changing jobs or retiring, it’s important to know the rules regarding moving funds from your employer sponsored retirement plan. The wrong move could cost you in income taxes and early withdrawal penalties. There are two basic ways to move retirement plan assets from one retirement plan into another with no tax consequence. With a direct rollover your financial institution or plan directly transfers the payment to another plan or IRA; no taxes are withheld and your account continues to grow tax-deferred. With an indirect rollover, a check is made payable to you. You have 60 days to deposit it into a Rollover IRA - but indirect rollovers are subject to 20% withholding. For example, if you had $10,000 eligible to rollover, your employer would withhold $2000 and you’d get a check for $8,000. You’ll get the $2000 that was withheld back when you file a tax return, either as a refund or a credit toward any tax owed. However, in 60 days you st

Welcome! In this video we'll be going over the step by step process of how to rollover your 401(k) to and IRA. Referenced Videos: - What to do with your 401(k) when you leave your employer? What are my options? 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 )