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Important Information About Inheriting a Roth IRA

We talk a lot about the benefits of Roth accounts. A Roth IRA allows you to save for retirement with after-tax dollars. That means you pay taxes on your contributions now, but your withdrawals are tax-free in retirement. There are also several benefits to inheriting a Roth IRA, as @John with @SecurusFinancial explains to @erinkennedy; the distributions are tax-free, and they won't affect your taxable income. However, with a few exceptions, you'll still have to drain the inherited account within 10 years. If you are inheriting a Roth IRA, here's a quick action plan: 1. Understand your beneficiary type (this will determine your distribution options) 2. Consider your tax situation 3. Invest the money wisely 4. Get professional help As with all inheritances, it's important to know how distributions will affect your taxes and how to best invest that money. If you'd like to talk through the benefits of a Roth account, or if you recently inherited a ta

Unleashing the Strength 💥 of a Roth IRA

This is the power💥 of a Roth IRA #RothIRA #roth #ira #makemoney #moneymindset #moneymaker #moneytips... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA This is the power💥 of a Roth IRA When it comes to saving for retirement, there are numerous options available, including employer-sponsored 401(k) plans, traditional IRAs, and Roth IRAs. While all of these instruments come with their own advantages, the power of a Roth IRA cannot be underestimated. So, what exactly makes a Roth IRA so powerful? Well, one of the key benefits of a Roth IRA is that all qualified withdrawals in retirement are tax-free. Yes, you read that right. Unlike traditional IRAs or 401(k) plans, where you pay taxes when you withdraw the money, a Roth IRA allows you to withdraw the funds without paying any taxes. This can have a substantial impact on your retirement s

Comparing Traditional and Roth IRAs: Unveiling the Ultimate Guide to IRA Tax Strategies - Deciding the Best Option

Which IRA is best. Beyond the basics: A comprehensive guide to understanding often overlooked tax strategies between a Traditional IRA and a Roth IRA. Learn the differences between Traditional IRAs and Roth IRAs, discover advanced tax strategies for individual retirement accounts that can potentially minimize taxable income and shield you from capital gains taxes. Understand how your IRA choice can impact your Social Security taxes. Weigh the advantages and disadvantages between the two accounts. Make a more informed choice for your retirement and wealth-building strategies. Learn which IRA is best and why the Roth IRA is so great. ✅ SUBSCRIBE SUBSCRIBE SUBSCRIBE ✅ #retirement #retirementplanning #rothira #personalfinance #financialfreedom Timestamps: 0:00 Intro 0:55 Examples Comparing Taxes 6:32 Contribution Limits 7:00 Doing Both? 7:18 IRA Tax Strategies 13:35 IRA Restrictions 15:19 Withdrawing IRA Funds 16:20 Distribution Rules 16:47 Future Taxes 17:42 Recom

Traditional IRA와 Roth IRA의 차이점, 단점 및 각각의 고려사항은 무엇인가요? 재정 전문가 앤디 김이 설명합니다.

IRA구좌에서 과연 어떤 사람들이 IRA구좌를 열수 있고 불입 할 수 있고, 1년에 얼마까지 세금 혜택을 받으면서 불입 할 수 있는지, IRA구좌에는 어떤 단점과 유의 해야할 점이 있는지에 대해서 알아보도록 하겠습니다. T-IRA구좌같은 경우엔 인출하는 모든 금액에 대해서 세금을 내야하는 수입으로 간주되기 때문에 더 큰 손해를 봐야하는 경우가 발생이 됩니다. 아무리 좋은 은퇴플랜을 가지고 있어도 그 플랜의 장 단점을 정확히 이해를 못하고 있다면 플랜을 가지고 있지 않은 것 보다도 못할 경우한 경우가 되는 것이죠. 내 스스로가 받을 수 있는 혜택이나 불이익에 대해서 관심 갖지 않으면 그 누구도 나를 대신 할 수 없음을 기억하셔야 겠습니다. RMD (Required Minimum Distribution) 표 우리의 미래는 항상 기대와 걱정 그리고 불안으로 뒤섞여 있습니다. 마치 한 번도 가보지 못한 여행을 출발할 때 항상 꼭 지참하는 나침판과 지도 처럼 앞으로 우리 미래의 평안하고 안정된 인생을 살기 위한 재정과 은퇴의 로드맵이 필요로 합니다. 여러분만의 은퇴 로드맵을 만들어 드리는 역활을 충실히 할 것을 약속 드립니다. 생명보험, 연금, 장기간호보험, 상속계획, 세금절세 플랜, 학자금플랜, 손자 손녀들을 위한 플랜, 뮤츄얼 펀드 투자 관련 모든 재정과 은퇴 플랜에 대해서 무료 상담 해드립니다. 엘에이와 워싱톤지역 어느곳에 계시던 상관 없이 문의가 있으신 분은 댓글이나 이메일로 보내주시면 성심 성의 껏 답변 하도록 하겠습니다. 재정어드바이저 앤디김 – askakimg@gmail.com... ( 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

Setting Up a Backdoor Roth IRA: A Beginner's Guide for Money Not Math 145 Students

What is a Backdoor Roth IRA and how should I set it up? Money Not Math 145 When should you avoid this strategy? What makes a backdoor Roth IRA Different? Do you pay taxes on backdoor Roth IRAs? Are backdoor Roth IRAs worth it? How much can I contribute? What are alternatives to backdoor Roth IRAs? Podcast: Article referenced, #MoneyNotMath #5StoneFinancialGroup #DavidVsGoliath #Retirement #RetirementPlanning #BackdoorRothIRA #RothIRA #IRA #Roth #Taxes #Investing Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA What is a Backdoor Roth IRA and how should I set it up? Saving for retirement is crucial in today's uncertain times, and having a well-rounded investment strategy

The Solo 401k Deadline Has Arrived - Don't Miss Out!

In this episode, we break down the deadlines and strategies for contributing to your Solo 401(k) plan. If you're an S Corporation owner or a sole proprietor, this information is crucial. Discover how to reduce your taxable income, set up your Solo 401(k) plan, and start building your retirement nest egg. Don't miss out on these valuable tips and strategies to secure your financial future. AND DONT FORGET, SEPTEMBER 15th IS THE LAST DAY TO CONTRIBUTE! ---- Schedule a Free 15-minute new account phone appointment with one of our experienced Senior Account Executives regarding what type of account is best for you. ---- To submit your questions, listen, search for prior episodes, or sign up for their Weekly Free Newsletter, visit ---- Learn how to take control of your retirement - Self-directed IRA Podcast - Shop my products - Blog & Articles - ---- Connect with Mat online: - Instagram: - Facebook: - LinkedIn: - Twitter: ... ( read more ) L

Understanding the Concept of a Mega Back Door Roth

Biden is spending money and someone has to pay for it. Investors and Retirement Plan Sponsors here is what the strategy is. See this video for technical advice on the conversion: "After-Tax Bucket"... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA What is a Mega Backdoor Roth? When it comes to retirement planning and securing a financially stable future, Roth IRAs are considered one of the best options available. However, contributions to Roth IRAs are limited to $6,000 per year for individuals under the age of 50, and $7,000 for those over 50 years old. But what if you want to save more money for retirement in a tax-advantaged account? This is where the concept of a Mega Backdoor Roth comes into play. A Mega Backdoor Roth is a strategy that allows individuals to contribute significantly more to their Roth IRAs each year, by

Avoid this investment mistake with your self-directed IRA: Real estate investing.

Attorney Jeff Watson explains the importance of conducting due diligence on real estate investments using your self directed IRA.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Don't Make This Investment Mistake with Your Self-Directed IRA: Real Estate Investing Real estate investing has long been hailed as a lucrative and reliable avenue for building wealth. With the advent of self-directed Individual Retirement Accounts (IRAs), investors now have the opportunity to include real estate investments within their retirement portfolios. However, there’s one major mistake that individuals should avoid when venturing into the realm of real estate with their self-directed IRAs. Before delving into this potential pitfall, let's first briefly explore the concept of self-directed IRAs. Unlike traditional IRAs that limit investment choices t

Get Expert Advice on IRA & 401(k) Contributions in 2023 from Oakbrook Terrace Financial Planners

Are IRA and 401(k) the best retirement savings vehicles in 2023? The team of senior advisors at Oakbrook Terrace-based Goldstone Financial Group (630-620-9300) can help you understand your options. Go to for more information.... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing IRA & 401(k) Contributions In 2023: See Oakbrook Terrace Financial Planners For Expert Advice As we ring in the new year, it's important to assess our financial goals and plan for the future. One aspect of financial planning that should not be overlooked is retirement savings. For many individuals, Individual Retirement Accounts (IRA) and 401(k) plans are the primary means of setting aside money for their golden years. With the arrival of 2023, there are some changes and updates to be aware of regarding IRA and 401(k) contributions. To navigate th

The significant impact of Roth Conversions

In this video, we're going to discuss Roth Conversions. Roth Conversions are a game-changer for those looking to retire early. Roth Conversions allow you to convert your Roth IRA into a Traditional IRA, which will give you more flexibility when it comes to retirement planning . We'll discuss the benefits of Roth Conversions and how they can help you retire sooner! I'm not YOUR financial advisor. The content I share is broad, non-personalized, educational content around basic financial concepts. Speak with a professional who's familiar with your specific situation before making any financial decisions. Hire a Financial Advisor and Hire a CPA. www.pointwealthmanagement.com Industry regulations prohibit endorsements or testimonials for Point Wealth, LLC or any Investment Advisor Representative. Posts must refrain from recommending investment advisory services or providing testimonials for our firm, since they are strictly prohibited. Please understand that w

Avoid These 5 Costly Mistakes in Your Roth IRA to Simplify Your Life

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 Role of a Custodian in Self-Directed IRAs

Before we get to the fourth floor, can John tell us what a Custodian provides to a Self-Directed IRA? Still have questions? Comment yours now followed by #AskETC #shortschallenge #education #equitytrust #selfdirected #selfdirectedlearning #custodialrothira... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Custodians play a vital role in the management and administration of self-directed Individual Retirement Accounts (IRAs). While most people are familiar with traditional IRAs, self-directed IRAs provide individuals with more control and flexibility over their investment choices. But what exactly does a custodian do when it comes to self-directed IRAs? First and foremost, it's important to understand the concept of a custodian. In the realm of self-directed IRAs, a custodian is a financial institution or organization that acts as a trustee

Different Retirement Account Types

In this episode, Dan talks about characteristics of some different types of retirement accounts.... ( 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 Types of Retirement Accounts Planning for retirement is an important aspect of financial management. One way to ensure a secure retirement is by opening a retirement account . There are numerous types of retirement accounts available, each with its own set of rules and benefits. In this article, we will discuss some of the most common types of retirement accounts. 1. 401(k) Plan: The 401(k) plan is a popular retirement account offered by employers. It allows employees to contribute a percentage of their salary on a pre-tax basis, meaning that the contributions are not taxed until they are withdrawn in retirement. Some employers also offer a matching contribution, which means they will match a

Choosing between a Roth IRA and a Traditional IRA: Which option suits you most?

I am back with a new video, Roth IRA VS Traditional IRA | Which is BEST for you? I hope this video will be helpful for you. Welcome to the Money And Happiness Channel. In this video, we're going to compare and contrast Roth IRAs and Traditional IRAs. We'll see which is best for you, based on your individual needs and circumstances. We'll explain the different benefits and drawbacks of each type of IRA, and we'll help you decide which is right for you. So if you're curious about IRA options, this video is for you! 👉🏼 Subscribe to my channel. 🔄 Subscription Link: ☛ Your Like, Comments, and Subscribe, Inspire me!!! ============================================= 🎬 CHECK OUT MY OTHER VIDEOS: ⬇️ 💠Term Vs Whole Life Insurance | Life Insurance Explained ✅ 💠How Tax Brackets Actually Work | Tax Brackets Explained ✅ 💠Ensure Your Wishes Are Carried Out: Why You Need a Living Trust ✅ ============================================= ✔️ Thank you very much for li

Comparing Traditional and Roth IRAs: Part 2

... ( 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 Traditional vs Roth IRA: A Comprehensive Comparison (Part 2) In our previous article, we discussed the basics of Traditional and Roth Individual Retirement Accounts (IRAs) and some of the key differences between them. In Part 2 of this series, we will delve deeper into the details to help you make an informed decision about which type of IRA is best for you. Tax Treatment: One of the primary differences between Traditional and Roth IRAs lies in the way they are taxed. Contributions to a Traditional IRA are typically tax-deductible in the year they are made, meaning you can reduce your taxable income by the amount you contribute. However, you will have to pay taxes on both the principal amount and the investment gains when you withdraw funds during retirement. On the other hand, contri

Roth IRA Utilizing the Back Door Approach

Show Notes: I wanted to share an informative video with you that discusses strategies to increase your Roth IRA or 401k balance. These strategies can help you maximize your retirement savings while potentially reducing future tax burdens. The video provides valuable insights into two specific techniques: the backdoor Roth IRA strategy and the mega backdoor Roth IRA strategy. Questions? Email us at Hans@CardinalGuide.com, call us at (919) 535-8261, or visit our website at H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska 100118081, Arizona 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 445296, Idaho 507076, Illinois 100333675, Indiana 721739, Iowa. 1002056691, Kansas. 272705345, Kentucky 738674, Louisiana 614407, Main