In this video, Colin Exelby, CFP® explains the five most common conversion mistakes so you don’t make them. Learn in detail, five ways investors, financial advisors, and CPAs have made mistakes so that you can take full advantage of Roth conversions. A Roth conversion is a strategy where you move Traditional, SEP, or Rollover IRA funds into a Roth IRA for tax-free future growth. Anyone can do it, no matter your age or your income limit. So the younger you are when you do it, potentially the larger the benefit. They’re even more powerful when converted in a down market. Watch this video to learn why. TIME STAMPS : 00:00 Roth IRAs 00:35 5 Most Common Conversion Mistakes 01:22 The Pro-Rata Rule 04:39 Not converting enough assets while young 07:20 Forgetting about the IRMAA penalty 08:31 Converting the entire IRA in a single year 09:20 The 5 year rule ★☆★ Who Is IRMAA And Why Does She Matter? ★☆★ ★☆★ Roth IRA Conversion Pros and Cons in 2022 ★☆★ ★☆★ How to Create...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)