Timothy Sumer

Steps 6 and 7 of my FIRE checklist are to invest in Roth IRA, HSA, and 401K. How do you prioritize which retirement accounts to invest in first? Private Group Coaching with Psy ➡️ 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - #FIREPsyChat #FinancialIndependence #RetireEarly

Unlike a traditional IRA, Roth retirement accounts offer a unique tax advantage, allowing you to take tax-free distributions. Many people argue that a Roth IRA is the best way to become a tax-free millionaire while only contributing $6,000 per year. Like and subscribe for more wealth building podcast... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Roth IRA - $6,000 per Year to Tax Free Millionaire A Roth IRA is a retirement savings account that allows individuals to save money for retirement, while also providing tax-free income in retirement. The maximum annual contribution to a Roth IRA is $6,000 for individuals under 50 years old, and $7,000 for individuals 50 years old and over. While the annual contribution limit may seem small, over time, it can add up to a significant amount of money that can grow tax-free. Individuals who con

Retiring Early | Roth vs. Traditional IRA - Best Investment For Financial Freedom. There are a lot of benefits to investing in IRAs, but Traditional IRAs and Roth IRAs have different benefits. In this video, I discuss the key distinctions between a Roth IRA and a Traditional IRA. I break down the fundamental differences, contribution limits, tax implications, withdrawal rules, the 5 percent rule, and other critical differences associated with these two retirement accounts... which one I think is the best to invest in for financial independence freedom, depending on your expectations of your financial situation at retirement! Whether you're a seasoned investor or just starting out, this video provides valuable insights and strategies to help you make informed choices and take control of your financial future! #rothira #traditionalira #financialindependence #financialfreedom #retirement #retire #personalfinances #retirementsavings #retirementaccount **Other Videos To C

Smart Money Tactics: Backdoor ROTH IRA Tax Planning For Retirement Hello Community!!! Welcome to Financial And Investment Wisdom. In this video you will learn more about Roth IRA's, Financial Independence and how to apply smart money tactics for Backdoor Roth IRA Contributions. Also, do you want to know how to invest in stocks but don't know where to start? Do you like to learn more about cryptocurrency? Do you think of yourself as someone who's not very money-savvy? If you're just starting out or looking to grow, this channel will help you make more educated decisions about your finances. Please subscribe to our channel: ➡️ ➡️ SUBSCRIBE: Our channel is all about how to be smarter with your money. If you're looking for financial literacy, growth investing, trading, or just want to get better at personal finance - this can be an excellent one for you!! We will educate you on the basics of what financial terms mean and how to get started. You'll als

How much do you need to invest every year to have $1 million in tax-free money in your Roth IRA? How can your Roth IRA supplement your pension income? Did you know that you can use the Roth IRA for your early retirement? Want to create live streams like this? Check out StreamYard! ➡️ Private Group Coaching with Psy ➡️ 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - Ho

Did you recently quit your federal government job, separate, or retire from the military? Here are the steps to roll your Thrift Savings Plan (TSP) over to a Roth IRA. Private Group Coaching with Psy ➡️ 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - #FIREPsyChat #FinancialInde

Did you recently quit your federal government job, separate, or retire from the military? Here are the steps to roll your Thrift Savings Plan (TSP) over to a Roth IRA. Private Group Coaching with Psy ➡️ 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - ⏰ Table of Contents ⏰ 0:00

$20,000 in METAVERSE & CRYPTO | Our "OTHER" Investments | New Ways To Make MONEY | Retiring in 2027 Today I will share some of the unpopular ways we invest! It's not a Roth IRA or Apple stock but some of the other ways you can invest and make money over time! Enjoy! Video Time Stamps: 00:00 - Intro 02:07 - Investing Workbook Sale - 02:28 - Investing in the HSA 07:30 - Investing in Cryptocurrency 09:47 - Investing in NFTs 10:48 - Investing in the Metaverse 13:20 - Investing in Gold/Silver 14:34 - Investing in Sep IRA OR Solo 401k 17:36 - Why we invest in each of these accounts/types 18:23 - Outro ~ Links to video I mentioned: Crypto 101 - How we bought our NFTs - H.S.A. 101 - Our F.I.R.E. Journey - *April Investing Challenge, Services & Products - www.mt1finance.com 👉 Get your Digital Investing Workbook here - www.mt1finance.com 👉Need one on one help in a private space? Book a session here - 👉Patreon Link - **Get your 2022 Investing Challen

What are the best investments for your Roth IRA? ETFs? Mutual Funds? Let's go over some index funds. Private Group Coaching with Psy ➡️ 🤳 Psy on TikTok, Facebook, Instagram 🤳 ➡️ 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📖 My YouTube Studio & Equipment 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - ⏰ Table of Contents ⏰ 0:00 Investment Criteria 7:14 Fidelity Zero Total Market Index Fund (FZROX) 14:39 Schwab US

***Lively has started charging $24 or forces you to hold a minimum of $3,000 in their HSA. Due to this change, I do NOT recommend them any longer. Please do not use this company. A Fidelity HSA is currently free at this time*** In this video, I'll go through the 6 HSA mistakes to avoid. An HSA (Health Savings Account) is one of the best investment accounts available to someone pursuing Financial Independence or Early Retirement. Although the name has "health savings" in it you should treat it like a "health investment" account to get the full benefits they offer. Someone who isn't pursuing FIRE can still take advantage of the benefits as well. When you use an HSA account you get access to triple tax savings. Not only do you avoid paying taxes when the money goes into the account, but you also skip out on paying taxes on the growth of your investments and when money is withdrawn from the account. The fact that you're able to invest money wit

A Spousal Roth IRA is for stay-at-home spouses and parents who file their taxes jointly with their spouses with active income. 🤳 Social Media🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 1:1 Financial Coaching 👩‍🏫 Schedule a free 20-minute 1:1 Coaching Session Schedule a free 30-minute 1:2 Couple's Coaching Session ➡️ Introductory Forum: 📧 Email: hello@firepsychat.com 📖 What’s on my bookshelf? 📖 ➡️ 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - HSA vs FSA - Is Cash King or Trash? - Tax-Free Dividend Income - Pay 0% Capital Gains Taxes - For sponsorships and business inquiries, please contact media@firepsychat.com. #FIREPsyChat #SpousalRothIRA 🎵 Music and Sound Effects Provided by Epidemic Sound 🎵 Disclaimer: I am not a financial advisor. I am solely sharing my personal experience and opinio

Pensions explained for folks in the UK. We've all been told that pensions are important, but why? Most of us have never had pensions explained to us, yet it's vital to know how pensions work in the UK because for most of us they are the most tax-efficient way of building retirement savings. After watching this video, you'll understand pension basics enough to get started with these crucial accounts. 👉 MeaningfulAcademy - Retirement Planning: 🏷️ Use PROMO Code "YOUTUBE" to save on any of the three courses. Chapters: 00:00 Intro 01:07 1 - Types of Pension 03:47 2 - Free Money with Pensions 05:49 3 - How Pensions Are Taxed 06:44 4 - How Pensions Grow 08:24 5 - How you get your money OUT 11:20 Summary #meaningfulmoney #meaningfulacademy #retirementplanning 🔴 - Click here to watch Pension vs ISA 🔴 - Click here to watch The biggest retirement challenge is not financial 🔴 - Click here to watch The Art of Retirement 🔴 -

The Roth IRA conversion ladder strategy is a long-term strategy that allows one to gain access to their retirement accounts well before age 59.5. This strategy can lower your income taxes over your entire life including while you are working and when you are retired. This strategy does so by converting assets from Traditional accounts into Roth accounts slowly over time after you retire early. When you retire early, you generally have less income, so you can convert assets to be withdrawn tax and penalty-free later on. ************************************************************ All Of My Favorite Financial Resources: How I Track My Personal Finances: Investment Platform That I Use: My Favorite Calculator For Financial Independence: Software I Use To File My Taxes: Products I Buy To Save Money: Get Personalized Consulting From Me: ************************************************************ #Roth #RothIRA #RothIRAConversion ************************************

▸▸▸Enroll in our Stock Market Investing Course for Financial Independence and Retiring Early: Enroll in our new 21 module, 4-plus hour stock market investing course with more than 30 handouts of summary notes, homework assignments, and resources. Learn how to research and select investments, how to determine your asset allocation, how to rebalance your portfolio, how to optimize your investments for tax purposes, how to automate your investments, and much more (including a 19-page Investment Plan to work on)! ▸▸▸Enroll in our FIRE Master Class: This FIRE Master Class is designed for people interested in pursuing financial independence and retiring early. In the Master Class, we explain how to live off of your investments during early retirement; how to withdraw money from your investment accounts to support your living expenses during retirement; how to calculate your FIRE number; new and creative ways that you can save money; new side hustles for making money; how to inv

Do you have a Roth 401K and Roth IRA? Which one is better? Which one should you prioritize? What about 403b and TSP? Let's dive right into it! 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - #Roth401K #RothIRA 🎵 Music and Sound Effects Provided by Epidemic Sound 🎵 Discl