Timothy Sumer

If you went all-in on a Roth 401(k) instead of maxing out your traditional 401(k), would you be better off? ► Announcing THE RETIREMENT ADVENTURE CLUB! We've launched an online membership designed to help you plan for retirement and connect with others who are asking the same retirement questions you’re asking right now. The Club will feature access to RightCapital financial planning software, a growing library of financial planning checklists, online courses, and regular access to me and the team during live-streamed office hours calls. -- LINKS -- Want to run these numbers for yourself? Download this spreadsheet: ► On Track for Retirement Spreadsheet Timestamps 0:00 - Traditional vs. Roth 401(k) 1:23 - Beginnings of the Roth 401(k) 1:54 - Our assumptions 2:44 - Living expenses assumptions 3:38 - Current retirement savings 4:07 - Projected savings at retirement 4:56 - Expected income in retirement 6:47 - Tax rates make a difference 7:53 - Monte Carlo analysis re...

They say timing is everything. But when it comes to timing Social Security benefits, how much difference does it make? ► Announcing THE RETIREMENT ADVENTURE CLUB! We've launched an online membership designed to help you plan for retirement and connect with others who are asking the same retirement questions you’re asking right now. The Club will feature access to RightCapital financial planning software, a growing library of financial planning checklists, online courses, and regular access to me and the team during live-streamed office hours calls. Timestamps 0:00 - Timing Social Security 0:43 - Early application 2:31 - Delayed application 3:50 - Assumptions 5:02 - Assumptions: savings 5:33 - Results: Apply at 62 6:48 - Results: Apply at 70 8:32 - Results: Apply at FRA 9:15 - Other factors to consider 10:18 - Will Social Security survive? *** FREE GUIDE *** To learn more, visit our website: #pranawealth #patrickking #howtoretire #retirement #retirementplanning ...

Timing your Social Security retirement benefits can depend on several factors. Here’s a quick primer on when to take Social Security. Click here to find out your Full Retirement Age (FRA): Click here for the Social Security Retirement Benefits Estimator: Click here for the Social Security Benefits Calculator: To learn more, visit our website: *** Free Guide *** #pranawealth #patrickking #howtoretire #retirement #retirementplanning #socialsecurity --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football. Let’s connect: LinkedIn – PatrickBKing Facebook – @pranawealth Instagram – @pranawealth Twitter – @PranaWealth ---------- DISCLAIMER: This is a publication of Pr...

If you’re divorced, you may be eligible to receive Social Security benefits based on your ex’s work history – but there are rules. ► Announcing THE RETIREMENT ADVENTURE CLUB! We've launched an online membership designed to help you plan for retirement and connect with others who are asking the same retirement questions you’re asking right now. The Club will feature access to RightCapital financial planning software, a growing library of financial planning checklists, online courses, and regular access to me and the team during live-streamed office hours calls. Timestamps 0:00 - Social Security for divorced spouses 0:25 - How much you can receive 1:30 - Requirements for eligibility 2:26 - A funny rule to think about *** FREE GUIDE *** To learn more, visit our website: #pranawealth #patrickking #howtoretire #retirement #retirementplanning --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over ...

Converting some (or all) of your traditional IRA into a Roth IRA is tempting, but does it make sense? Here are six questions to ask before making a year-end Roth IRA conversion. BONUS: Be sure to watch until the very end for a special strategy only available in 2020! To learn more, visit our website: *** Free Guide *** #pranawealth #patrickking #rothira --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football. Let’s connect: LinkedIn – PatrickBKing Facebook – @pranawealth Instagram – @pranawealth Twitter – @PranaWealth ---------- DISCLAIMER: This is a publication of Prana Wealth Management LLC. All opinions of the authors expressed herein are as of the date of publica...

Thinking about making a backdoor Roth IRA contribution this year? These two mistakes can cost you thousands in taxes. -- LINKS -- Want to run retirement numbers for yourself? Download this spreadsheet: ► On Track for Retirement Spreadsheet Timestamps 0:00 - Don’t make these backdoor Roth mistakes 1:11 - IRA aggregation rule 4:22 - Step transaction rule 6:16 - One more mistake to avoid *** FREE GUIDE *** To learn more, visit our website: #pranawealth #patrickking #howtoretire #retirement #retirementplanning --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football. Let’s connect: LinkedIn – PatrickBKing Facebook – @pranawealth Instagram – @pranawealth Twitter – @Pran...

Did you know that Roth IRAs have rules that, if broken, could result in taxes and penalties? Let’s review three Roth IRA five-year rules. To learn more, visit our website: *** Free Guide *** #pranawealth #patrickking #howtoretire #retirement #retirementplanning #rothira --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football. Let’s connect: LinkedIn – PatrickBKing Facebook – @pranawealth Instagram – @pranawealth Twitter – @PranaWealth ---------- DISCLAIMER: This is a publication of Prana Wealth Management LLC. All opinions of the authors expressed herein are as of the date of publication and are subject to change. Any information presented herein is not an offer to b...

Should you make a Roth IRA conversion in 2022? Here are 4 questions to consider before making a strategic Roth IRA conversion before year-end. -- LINKS -- Want to run retirement numbers for yourself? Download this spreadsheet: ► On Track for Retirement Spreadsheet: ► Roth IRA 5-Year Rules: Timestamps 0:00 - Should you consider a Roth conversion? 1:18 - Will your taxes be lower in retirement? 2:20 - Can you pay the tax bill? 2:41 - Will you need the money within 5 years? 3:46 - Are your beneficiaries in a lower tax bracket? 4:33 - Should you convert this year? *** FREE GUIDE *** To learn more, visit our website: #pranawealth #patrickking #howtoretire #retirement #retirementplanning --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick en...

The SECURE Act 2.0 contains dozens of changes that will impact our retirement planning . Here are 4 major changes from the SECURE Act 2.0. -- LINKS -- Want to run retirement numbers for yourself? Download this spreadsheet: ► On Track for Retirement Spreadsheet Timestamps 0:00 - SECURE Act 2.0 0:45 - RMD age changes… again 2:26 - Roth IRA transfers from 529 plans 4:00 - Catch-up contribution changes 5:36 - Changes for Roth accounts 6:37 - Other changes of note *** FREE GUIDE *** To learn more, visit our website: #pranawealth #patrickking #howtoretire #retirement #retirementplanning --- About Patrick King CFP® --- Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football. Let’s connect: LinkedIn – P...