Timothy Sumer

#shorts... ( 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 Taxes On A Backdoor Roth IRA Explained A Roth IRA is a popular retirement savings account that offers tax-free growth and tax-free withdrawals in retirement. However, there are income limitations for contributing directly to a Roth IRA. This means that if you earn too much, you may not be eligible to contribute to a Roth IRA directly. But don't fret, there is a way to still take advantage of a Roth IRA through a backdoor Roth IRA strategy. A backdoor Roth IRA is a method that allows high-income earners to bypass the income limitations and contribute to a Roth IRA indirectly. The strategy involves making a non-deductible contribution to a Traditional IRA and then converting it to a Roth IRA. This workaround allows individuals to enjoy the benefits of a Roth IRA despite their high inc

This episode Dr. Dahle covers a variety of your questions. We talk about when it is worth passing cash through a 529 account and if you should use 529s to fund K-12 educations. We talk about how interest on iBonds works and go into why TIPs have been performing pretty poorly as of late. We dive into the tax implications for S Corps and talk about why it is not a great idea to purchase ETFs after hours. See the full show notes here: Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers low-interest rates and the ability to whittle down your payments to just $100 a month* while you’re still in school. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to fina

In this video The White Coat Investor does a Deep Dive into How To Do A Mega Backdoor Roth IRA. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Main Website: Student Loan Advice: Facebook: Twitter: Instagram: Subreddit: Online Courses: Newsletter: 00:00 Mega Backdoor Roth IRA 00:20 Multiple 401(k) Rules 02:39 After Tax Employee Contributions 04:12 How To Do A Mega Backdoor Roth IRA... ( read more ) LEARN MORE ABOUT: IRA Accounts CO

In this video we're answering the question "Traditional IRA vs Taxable Brokerage Investing - Which Is Better?" The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted. To get your questions answered by The White Coat Investor, visit and record your question. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Main Website: Student Loan Advice: Faceboo

In this video we're answering the question "What Should I Do With An Inherited IRA?" The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted. To get your questions answered by The White Coat Investor, visit and record your question. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Main Website: Student Loan Advice: Facebook: Twitter: Instagram:

The ultimate benefits of a Roth IRA vs. a traditional IRA are subjective depending on the individual and what tax bracket they expect to be in when they reach retirement age. In other words, would you prefer to receive your tax benefits now or after you retire? Since Roth IRA contributions aren't deductible and qualified withdrawals are tax-free, they may ultimately be a better option for those in a relatively low tax bracket at the time of investing. However, if you qualify for the traditional IRA tax deduction and are in a moderate-to-high tax bracket, then the immediate tax savings might be a better tradeoff. As a general rule of thumb, if you expect to be in a lower tax bracket when you retire, a traditional IRA might make more sense. However, if you expect to be in the same or higher tax bracket when you retire, it could be wiser to pony up the tax dollars upfront with a Roth IRA. But again, if you’re unsure of what your financial situation is going to look

Today Dr. Dahle walks you through what changes are coming with Secure Act 2.0. He will take you through everything step by step to hopefully make sense of all of the changes for you. He also answers your questions about the backdoor Roth, estate planning, tax loss harvesting and more. If you want to read more about Secure Act 2.0 click the link: What’s changed in healthcare? The opportunities, the lifestyle, and you. Your needs, wants, and goals are probably different than they were five years ago. Now’s the perfect time to explore locum tenens opportunities. Start your research at an unbiased, educational resource. You’ll hear true stories from physicians, learn about specialty trends, compare locums agencies, and more. Locums could be an essential part of a career that adapts to your needs. Visit The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and re

In this video we're answering the question "Can I use a revocable trust as the beneficiary of my IRA or 401(k)?" The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted. To get your questions answered by The White Coat Investor, visit and record your question. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Main Website: Student Loan Advice: Faceb

In this video The White Coat Investor does a Deep Dive into the Back Door Roth IRA vs. Mega Back Door Roth IRA. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Main Website: Student Loan Advice: Facebook: Twitter: Instagram: Subreddit: Online Courses: Newsletter: 00:00 Back Door Roth IRA 00:28 Mega Back Door Roth IRA 00:58 Roth Conversions 01:30 Types Of Contributions 03:20 How To Do A Mega Back Door Roth IRA... ( read more ) LEARN MO

The best accounts to invest in are generally those with the lowest fees and taxes as those are an investor's greatest enemies. A typical doctor may have access to some or all of the following tax-protected accounts: Retirement: 401(k), 403(b), 457(b), 401(a), Profit-sharing plan, Defined Benefit/Cash Balance Plan, Individual 401(k), SEP-IRA, SIMPLE-IRA, traditional IRA Roth 401(k), Roth 403(b), Roth 457(b), Roth IRA Taxable (i.e. non-qualified) account Education: 529 Coverdell Education Savings Account Taxable account Healthcare: Health Savings Account Taxable account General Investing: Taxable investing account An employee ought to become an expert in the accounts his employer offers. The self-employed physician will generally want to use an individual 401(k). Most doctors will want to use a Backdoor Roth IRA. Those who are using a High Deductible Health Plan should take advantage of a Health Savings Account, a triple tax-free Stealth IRA. 529s are generally superi

Today we cover a broad range of topics from employee stock purchase plans to how to move on after you make a financial mistake. We discuss the difference between a traditional workplace 401(k) and a solo 401(k). We talk about 457(b)s, tax implications of K1 form upon partnership, and answer if you can have a solo 401(k) for each 1099 contract you have. We start this episode off discussing whether it is a good idea or not to be public about how much money you make and what you do with your money. At the end of the day we believe everyone should be able to do whatever they want with their career and their income - but it is unlikely there is any good reason to be public about that unless you are trying to make money online. This podcast is sponsored by Bob Bhayani at He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows e

Today we discuss what happened in Congress and how, for now at least, the backdoor Roth lives on. You can proceed with your contributions as planned. Check out our tutorial to see how: . If at some point Congress decides to make this retroactively illegal, we will walk you through the process of undoing those contributions. We also discuss whether it is worth refinancing your student loans if you are not going for PSLF despite the extension of the student loan holiday. With inflation and rising interest rates this is a more complex question than it typically should be. We answer some questions about employer sponsored 401(k)s, signing bonuses and what kind of contributions to make if you are one of those super savers. Shopping for disability insurance is complicated enough. Wondering if you are getting the right coverage, unbiased advice, along with the best prices and discounts can make the process even more overwhelming. Pattern knows doctors have more important things t

In this video we're answering the question "Can I contribute the maximums to my 401(a), 403(b), and 457(b), or is there a combined contribution limit?" The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted. To get your questions answered by The White Coat Investor, visit and record your question. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Mai