Timothy Sumer

On July 14, the IRS issued Notice 2023-54, which gave some people good news regarding rules for inherited IRA distributions. The notice provides relief for 2023 missed RMDs for non-eligible designated beneficiaries who must follow the 10-year payout rule. It also extends a 60-day rollover deadline for those who took or who were given unnecessary IRA distributions in 2023 to roll them back into their accounts. Dean Barber and Bud Kasper further discussed these rule changes for inherited IRA distributions on America's Wealth Management Show. Timestamps: 00:00 – Introduction 01:35 – It’s Confusing 03:01 – Three Types of Beneficiaries 05:27 – Why Did the Govt. Do This? 06:08 – TRIVIA 07:00 – Traditional IRAs Are BAD for Wealth Transfer 09:45 – IRS Notice 2023-54 12:10 – Tax Reduction Strategies 12:54 – Roth IRA to Eliminate Uncertainty 16:59 – Dean Tells a Charitable Story Reducing Taxes 19:03 – What We Learned Today Tax Reduction Strateiges: SECURE Act Content Special N...

Have you heard of the SECURE Act? If you have not, now is the time to learn about the Act as the changes are significant and most likely will impact your legacy planning. Why? Because it could drastically change your well laid out plans for legacy. Add to the SECURE Act the strong possibility of increases in tax rates in the near future, the combination could create a devastating impact for your beneficiaries, including the annuity beneficiaries. Between the changes caused by the SECURE Act and possible increased tax rates, you have a ticking time bomb. Time for you to be informed so you can protect your hard earned retirement savings from Uncle Sam. Even though the discussion will not be focused on retirement annuities, it does apply to retirement annuities in qualified accounts and IRAs. So, watch the video till the end to learn what top industry experts are recommending to protect your hard earned retirement savings from Uncle Sam. Please Subscribe and Don'...

Les Stewart and Ryan Edwards share the first of ten provisions that are important to pay attention to concerning Secure Act 2.0. Small businesses can get an enhanced tax credit to help offset the costs for providing retirement plans to employees. This includes, 401k's Simple IRA's and other retirement plan options company's and owners can provide.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The Secure Act 2.0, which was recently introduced in Congress, includes several provisions aimed at improving retirement savings and planning for Americans. One of these provisions, known as Provision 1, focuses on the Southeast Retirement Planners Podcast, a valuable resource for individuals seeking information and guidance on retirement planning . The Southeast Retirement Planners Podcast is a popular podcast hosted by retirement pl...

Hosts Ryan Edwards and Les Stewart discuss strategies to manage your wealth in 2023.... ( 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 As 2023 is rapidly approaching, it is essential to think ahead and consider ways to manage your wealth for the future. In this article, we will be discussing the Southeast Retirement Planners Podcast and their expert advice on managing your wealth in the years to come. The Southeast Retirement Planners Podcast offers insightful interviews and discussions on financial planning, investment strategies, retirement savings, and more. In their latest episodes, the hosts, Larry Breen and Nate Easley, have shared their expert opinions on managing wealth in 2023 and beyond. One of the main topics discussed in the podcast is the importance of diversifying your investment portfolio. As the w...

#personalfinance #rothira #custodialrothira #financialeducation #financialfreedom Let's not keep this a secret anymore. If they have earned income, I believe every child should have a Roth IRA. Let's improve the financial future of our children. Looking to give your child a leg up on their financial future? Help them open and fund a custodial Roth IRA. Watch the entire video to learn more. 👉 ⬇️ DISCLAIMER : Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas. Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments. This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of inv...

Let’s dig a little deeper on legacy planning and talk about taxes on the death benefit to the annuity beneficiary, both for a taxable and non-taxable account. Is a retirement annuity the most tax advantageous way to gift to a beneficiary at death? And while I am on the topic of a tax deferred account, such as an IRA, I will also discuss the payout options for a fixed index annuity since the Secure Act has changed how inherited IRAs are to be distributed to non-spousal beneficiaries. Table of Contents: 00:00 - Introduction 01:29 - Refresher on Annuities and Taxes 02:10 - Taxation of Death Benefit for Inherited IRA 02:54 - Is there a more tax advantageous way to gift a death benefit? 04:23 - Introduction on The SECURE Act 04:52 - Impact of the Act on Fixed Annuity in an Inherited IRA 06:04 - Taxation of Death Benefit in Taxable Account ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ▶️Schedule a 15-minute conversation: ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 📲CONNECT WITH...

Your Retirement Playbook with Joe Clark, CFP. In this segment we will cover: How do Inherited IRA's work? The art of childhood is knowing what to tell your parents and when! Join us on "Your Retirement Playbook" as we discuss what to think about when you are getting an inheritance and why you need to talk to your parents in advance. Your Retirement Playbook” is an educational program designed to help listeners better understand their money. Each week Joe will discuss real-life situations in dealing with the Five Critical Elements and The Better Giver. Your Retirement Playbook is brought to you by Financial Enhancement Group, LLC. We have five Indiana locations and take care of families in 32 states. For 25 years, we have helped families prepare for retirement and navigate all that comes along the journey. Our trademarked approach, the Family Focus® process, revolves around the 5 Critical Elements (Your Life After Work, Tax Planning, Investment Playbook, Life ...

Your Retirement Playbook with Joe Clark, CFP. In this segment we will cover: How to Withdraw Retirement Funds: Inherited IRA In this segment of Your Retirement Playbook, we will dive deeper into intentional IRA withdrawals. Your Retirement Playbook” is an educational program designed to help listeners better understand their money. Each week Joe will discuss real-life situations in dealing with the Five Critical Elements and The Better Giver. Your Retirement Playbook is brought to you by Financial Enhancement Group, LLC. We have five Indiana locations and take care of families in 32 states. For 25 years, we have helped families prepare for retirement and navigate all that comes along the journey. Our trademarked approach, the Family Focus® process, revolves around the 5 Critical Elements (Your Life After Work, Tax Planning, Investment Playbook, Life Happens – The Good, The Bad and The Ugly, and Legacy Planning) that we believe are the cornerstones to a successful retirement...

Les Stewart and Ryan Edwards share 10 key provisions concerning Secure Act 2.0. These ten include company tax credits for companies and business owners, RMDs (Required Minimum Distributions) increased to age 73, catchup contributions increases, retirement plan corrections, student loan payments and employer matches, required auto enrolments, Roth contributions to Simple IRA and SEPs, emergency savings accounts in 401ks, ROTH 401k Match, Rollover 529 to Roth IRA's. Learn the details and if this changes your opportunities.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The Secure Act 2.0 is the latest in retirement reform legislation and it's important to understand the provisions included in this bill. Southeast Retirement Planners Podcast has put together a list of the top 10 most important provisions of the Secure Act 2.0 to he...

November 25, 2022, Presented by: Aaron Rheaume, CKA, and Grant Soliven, AIF. Critical Element Of The Week:​​ How often should we reallocate our investment in our 401(k)-403(b) plans at work? - Investment Playbook #TaxPlanning #Taxes #financialenhancementgroup #investmentplaybook Schedule your complimentary Next Steps meeting today! www.yourlifeafterwork.com 800-928-4001 #taxplanning #lifeplanning #retirement #riskmanagement #legacyplanning... ( read more ) LEARN MORE ABOUT: Retirement Planning REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing https://inflationprotection.org/how-often-should-we-reallocate-our-investment-in-our-401k-403b-plans-at-work/?feed_id=49400&_unique_id=6398beefe1f6b #Inflation #Retirement #GoldIRA #Wealth #Investing #annuities #bearmarket #breakingnews #Fiduciary #financestock #FinancialPlanning #howtoinvestinabearmarket #IncrementalI...

Briant Sikorski, Stratos Wealth Partners - Setting up a Group Retirement Plan, such as a SEP, SIMPLE or 401(k) can be a smart way to provide for one of your key assets - your employees - as well as benefitting you and your business. To learn more, contact me at: Office: 919-650-1527 Email: bsikorski@stratoswp.com Web Site: www.briantsikorski.com... ( 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 https://inflationprotection.org/company-sponsored-retirement-plans/?feed_id=46159&_unique_id=638c4417d59dd #Inflation #Retirement #GoldIRA #Wealth #Investing #alzheimers #assistedliving #Bonds #dementia #estateplan #FinancialPlanning #insurance #investing #LegacyPlanning #LongTermCareInsurance #MutualFunds #nursinghome #oldage #skillednursing #QualifiedRetirementPlan #alzheimers #assistedliving #Bonds #dem...

So is the Roth IRA the best option for your fixed annuity? I mentioned in a prior video that a Roth IRA provides the best tax consequences for your fixed annuity of all of your choices. And if your fixed annuity provides lifetime income, you have a double benefit of favorable tax benefits and never outliving your money! Who could want for more? Well, let me throw in one more curveball. What are the consequences of a fixed annuity if it is in an inherited Roth IRA? You generally don’t have to pay taxes on an inherited Roth IRA. So you would think there are no ramifications from the 10-year rule of the SECURE Act for non-spouses since the intent is for the government to get their tax dollars sooner. But there are… If the SECURE Act is a factor for an inherited Roth IRA, could there possibly be a better choice than a Roth IRA when considering multi-generational wealth building in addition to tax benefits and lifetime income? Please Subscribe and don't forget ...

Is your IRA properly set up to benefit your loved ones when you’re gone? John Bowens, Equity Trust’s National Education Specialist, explains some of the options for legacy or estate planning for your retirement account , including: - The SECURE ACT and its impacts on legacy planning - How IRAs can avoid Probate - What to know about the Estate Tax Exemption - Things to consider when naming a trust, spouse, or children as beneficiaries To get started with a self-directed IRA, Roth IRA, Solo 401(k), or other tax-advantaged account, visit info.trustetc.com/get-started Equity Trust Company is a directed custodian and does not provide tax, legal or investment advice. Any information communicated by Equity Trust is for educational purposes only, and should not be construed as tax, legal or investment advice. Whenever making an investment decision, please consult with your tax attorney or financial professional.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRAN...