Timothy Sumer

Let’s say you have an inherited IRA, and you’re forced to take a required minimum distribution under the new 10-year rule from the secure act. What should you do with it? Today we're going over a tax planning idea. So let’s say that you have an inherited IRA. Under the new rules of the secure act, you must take a required minimum distribution during the first 9 years and a complete distribution in the 10th year. Keep in mind you cannot do a Roth conversion with an inherited IRA. But are there some other tax planning ideas you can do? What about this? What if you did a Roth conversion on your own IRA and chose not to pay the taxes out of the IRA money but instead used the required minimum distribution from the inherited IRA to pay the taxes on that Roth conversion Let’s go over an example. Let’s say you inherited a $200,000 IRA from someone who is not your spouse. You are required to take a minimum distribution in the first nine years and then take the full

#rbi #fersretirement #tsp Retirement Benefits Institute has trained thousands of federal employees as they make plans for federal retirement. For more information about your federal retirement benefits, go to our website at to get support. The information contained in this video should not be used in any actual transaction without the advice and guidance of a tax or financial professional who is familiar with all the relevant facts. The information contained here is general in nature and is not intended as legal, tax or investment advice. Furthermore, the information contained herein may not be applicable to or suitable for the individuals’ specific circumstances or needs and may require consideration of other matters. RBI is not a broker-dealer, investment advisory firm, insurance company, or agency and does not provide investment or insurance-related advice or recommendations. Brandon Christy, President of RBI, is also president of Christy Capital Management, Inc. (CCM

Retirement Benefits Institute has trained thousands of federal employees as they make plans for federal retirement. For more information about your federal retirement benefits, go to our website at to get support. The information contained in this video should not be used in any actual transaction without the advice and guidance of a tax or financial professional who is familiar with all the relevant facts. The information contained here is general in nature and is not intended as legal, tax or investment advice. Furthermore, the information contained herein may not be applicable to or suitable for the individuals’ specific circumstances or needs and may require consideration of other matters. RBI is not a broker-dealer, investment advisory firm, insurance company, or agency and does not provide investment or insurance-related advice or recommendations. Brandon Christy, President of RBI, is also president of Christy Capital Management, Inc. (CCM), a registered investment

In this video we will discuss TSP contribution limits. We will dive into the fund choices inside the TSP: what they are made of, historical returns and common mistakes people make. Retirement Benefits Institute has trained over 6,000 federal employees making it possible for over 2,000 individuals to obtain personal consultation, assisting them in specific federal benefit planning to maximize their assets.... ( read more ) LEARN MORE ABOUT: Thrift Savings Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing https://inflationprotection.org/tsp-education-learn-how-manage-your-tsp/?feed_id=59809&_unique_id=63c0ae9985492 #Inflation #Retirement #GoldIRA #Wealth #Investing #csrs #federalemployee #federalretirement #FERS #RBI #RetirementBenefitsInstitute #tsp #TSPandtaxes #tspeducation #tspfunds #tspinvesting #tspwithdrawals #ThriftSavingsPlan #csrs #federalemploye

In today’s video we’re gonna talk about the 12 states that won’t tax your retirement distributions or your pensions. Our goal is to bring you good financial planning information to help bring clarity to you and your retirement. One of the biggest line items in your budget that you need to work out in your retirement is paying taxes. If you could live in a state that does not tax your pension or distributions from 401(k) plans or IRA's, that would make the budget work out that much better. Let’s go over those states Now nine of the 12 states don’t tax retirement plan income simply because they don’t have any state income tax at all. Those states are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Washington, and Wyoming. Now the following three states, Illinois, Mississippi, and Pennsylvania have income taxes, but they don’t tax distributions from 401(k) plans, IRAs, or pensions. In Alabama and Hawaii, they don’t tax pensions, but they do tax d