Learn all about Backdoor Roth IRA's and more here in this video, where we also go over: Saving in Tax-Optimized Accounts Backdoor Roth IRA Contributions Roth Conversion Strategies Question and Answer How would you like to have tax-free income in retirement? Is your income too high to contribute directly to a Roth IRA? Ever wonder if there is another way to get savings into tax-free accounts? Based on IRS Notice 2014-54, retirement plan participants may consider the “Mega Backdoor Roth” strategy as a means to maximize savings in a tax-free account. This strategy allows high-income earners, typically not eligible, the ability to move money into a Roth IRA account. In addition, it allows individuals to contribute substantially more than the standard Roth IRA contribution limit. The savings and tax-free growth can be substantial, especially for those in high tax brackets and those planning to retire prior to age 59 1⁄2. Tax-Deferred vs. Tax-Free So, you’re already saving t
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)