Timothy Sumer

A Roth IRA is an important component of your retirement portfolio. In this episode of Your Life Simplified, Valerie Escobar, senior wealth advisor, and Michael MacKelvie, wealth advisor, discuss mistakes that can be made when investing in a Roth IRA and how to avoid them. Topics discussed include spousal contributions, Roth 401k options, the 5-year rule and contribution eligibility. 0:00 Intro 1:21 Missing Roth Opportunities 5:00 Cost-Basis 6:30 5-Year Rule 7:46 Backdoor Roth IRA 10:11 Contributing When Not Eligible 13:20 Outro & Disclosures #retirement #rothira #investing For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Google Play - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instagram - ============================================= These videos are limited to the dissemination of general information and are not intended to be legal or investment advice. Nothing h...

The definition of deferred compensation is exactly how it sounds: As an employee, you choose to defer compensation until a later date. This could lead to tax savings, but there are some substantial risks worth talking about.  When people mention “deferred comp,” they are typically referring to non-qualified deferred compensation plans, not qualified plans, such as 401(k)s, or 403(b)s. First, we will discuss how they work, then we will dive into the benefits, risks and considerations. With a non-qualified deferred comp plan, you’re given an opportunity once a year to opt into the deferred comp plan and elect how much money you would like to receive at a specified future date or over several specified future dates. Depending on your plan these future dates may be required to pay when you retire or when you leave the company. Often, the employee gets to choose a “distribution date” each year and select the amount of monies they intend to defer, and when they would like to re...

On this episode of #YourLifeSimplified, we talk about the basics of bonds, how they work within your portfolio and if investors should consider more bonds. Listen now! #FinancePodcast For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Google Play - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instagram - ============================================= These videos are limited to the dissemination of general information and are not intended to be legal or investment advice. Nothing herein should be relied upon as such. The views expressed are for informational purposes only and do not take into account any individual personal, financial, or tax considerations. There is no guarantee that any claims made will come to pass. Disclosures: ... ( read more ) LEARN MORE ABOUT: Treasury Inflation Protected Securities REVEALED: Best Investment During Inflation HOW TO INVEST IN G...

Does your income prohibit you from making regular Roth IRA contributions? Kerstin Wiles, wealth advisor, shares why a mega backdoor Roth IRA may be a tax-friendly solution. For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Google Play - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instagram - ============================================= These videos are limited to the dissemination of general information and are not intended to be legal or investment advice. Nothing herein should be relied upon as such. The views expressed are for informational purposes only and do not take into account any individual personal, financial, or tax considerations. There is no guarantee that any claims made will come to pass. Disclosures: ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVER: Silver IRA Account REVEALED: Best ...

A mega backdoor Roth presents a wonderful opportunity to potentially save over $40,000 more into a Roth every year, even if you make too much money for a Roth IRA. We'll cover how a mega backdoor Roth works, as well as how you can take advantage of it. Every year the IRS tries to incentivize us through tax breaks on retirement accounts. Unfortunately, these contributions are capped for the 401(k). For 2022, you can contribute $20,500 ($27,000 age 50 and older) . And for an IRA, it's $6,000 ($7,000 age 50 and older). And additionally, if you make too much money for a Roth IRA, you might not be able to contribute. You might be a little confused if you look up the max 401(k) contribution because you might see a number that's a heck of a lot larger than $20,500, and that number is $61,000 ($67,500 age 50 and older). So, what's going on here? Well, if we include the employer side of the 401(k) contribution, we're capped at $20,500, but the employer can make...

With the passage of the SECURE Act & SECURE 2.0 Act, Stretch IRAs are no longer an option. So, how should investors with an IRA manage this and what should beneficiaries do with their inherited IRA? Valerie Escobar, senior wealth advisor, and Michael MacKelvie, wealth advisor, share strategies investors may consider with their IRAs. 00:00 Introduction 01:24 What is an Inherited IRA? 04:20 What to do with an Inherited IRA? 08:40 How Should Investors Manage their IRA Before Passing them Down? 15:55 Outro & Disclosures #SecureAct2 #IRA #StretchIRA For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Google Play - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instagram - ============================================= These videos are limited to the dissemination of general information and are not intended to be legal or investment advice. Nothing herein should be relied upon ...

With stretch IRAs eliminated, how should your beneficiaries manage an inherited IRA? On this episode of #YourLifeSimplified, Valerie Escobar and Michael MacKelvie share IRA strategies both for owners and beneficiaries. #FinancePodcast  For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Google Play - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instagram - ============================================= These videos are limited to the dissemination of general information and are not intended to be legal or investment advice. Nothing herein should be relied upon as such. The views expressed are for informational purposes only and do not take into account any individual personal, financial, or tax considerations. There is no guarantee that any claims made will come to pass. Disclosures: ... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account...

I make too much money to contribute to a Roth IRA. Is there something I can do to be eligible to contribute? Roth IRAs have a maximum income limit where you become ineligible to contribute. Brian Leitner sits down with Andreas Scott, managing director & senior wealth advisor at Mariner Wealth Advisors, to discuss strategies to contribute to a 401(k) even if you are over the max household income limit. Brian and Andreas highlight potential concerns with backdoor Roth IRAs, as well as when is the best time to start the process of contributing based on the calendar year. 0:00 Intro 0:20 Strategies to Become Eligible 1:02 Backdoor Roth IRA Process 1:50 Potential Concerns 2:48 Legislation 3:32 More Information 4:25 Outro #RothIRA #RothIRAcontributions #retirement For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Spotify - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instag...

A traditional IRA and a Roth IRA are similar but have several key differences. Brian Leitner sits down with Rachel Kowalczyk, director & senior wealth advisor at Mariner Wealth Advisors, to discuss how converting a traditional IRA to a Roth IRA can benefit you, as well as what key financial indicators to look for to determine if this process is right for your financial situation. 0:00 Intro 0:18 Basics of a Roth IRA and a Roth Conversion 0:58 Why to do a Roth Conversion 2:53 Forecasting if a Conversion is Right for You 5:23 General IRA Considerations 6:35 Outro #retirement #RothIRA #401k For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Spotify - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instagram - =================================================================================== These videos are limited to the dissemination of general information and are not int...