Timothy Sumer

In this video, Josh Bennett, CFP®, shows how a backdoor roth conversion and a Regular roth conversion can save you money on your taxes as well as help keep you money intact for retirement. #whiteboardwednesday :) If you're interested in an INVESTMENT ADVISORY OR FINANCIAL PLANNING RELATIONSHIP - please consider Josh's affiliated company VINCERE WEALTH MANAGEMENT Https://Vincerewealth.com BOOKS I RECOMMEND: Let’s Connect! Instagram: @joshbennett_cfp LinkedIn: Twitter: Website: Https://mrmoneysense.com Https://Collegefundinghero.com Josh’s Affiliated Wealth Management Websites: Https://Vincerewealth.com Https://govincere.com *For Educational Purposes Only. No portion of this content should be construed as investment advice. No portion of this content should be construed as an offer or solicitation for the purchase or sale of any security. References to specific securities, investment programs or funds are for illustrative purposes only and are not

This video tells what a Backdoor Roth IRA is #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 What are Backdoor Roth IRAs? As the 2021 tax season approaches, it's important to be aware of the various strategies available to maximize your retirement savings. One such strategy that has gained popularity in recent years is the Backdoor Roth IRA. Let's take a closer look at what it is and how it can benefit you. A Roth IRA is a type of individual retirement account where contributions are made with after-tax dollars. The advantage of a Roth IRA is that it allows for tax-free growth and tax-free withdrawals during retirement. However, there are income restrictions that prevent high earners from directly contributing to a Roth IRA. In 2021, the income limit for single filers is $140,000, and for married couples filing jointly, it&#

YouTube Shorts High income earners cannot do Roth IRA, so back door Roth IRA presents a good opportunity to save for retirement. The opinion in the video is for education and basic understanding, please contact your financial advisor or do further research before investing. This is not a financial advise. Subscribe: Investing is 4 every1 Also visit my blog page: Financehealthbyme.wordpress.com Please like, comment and share. Facebook group: Financehealthbyme... ( 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 The back door Roth IRA is a strategy to contribute to a Roth IRA, even if your income exceeds the IRS limits. Here's how it works: First, you contribute to a traditional IRA. Then, you convert that traditional IRA into a Roth IRA. This conversion is called a back door Roth conversion. The key is that there are no income limits for

In 2023, you can contribute up to $66,000 if you’re under 50 and $73,500 if you’re 50 or older to your Amazon 401(k). You can fully leverage these limits by taking advantage of the Mega Backdoor Roth – a powerful provision within your Amazon 401(k). The Mega Backdoor Roth allows you to contribute after-tax dollars and convert those dollars to Roth. You can maximize your retirement savings and take advantage of the tax benefits associated with a Roth. Your regular 401(k) contribution limit also increased in 2023. If you’re under 50 you can contribute up to $22,500 and if you’re 50 or older you can contribute up to $30,000. Amazon will also match up to 2% of your base salary, which means that if you're making $325,000 and you put $22,500 into your 401(k), Amazon will contribute an extra $6,500 as a match. That's free money from Amazon! 00:00 Introduction 00:53 2023 Amazon 401(k) Contribution Limits 01:06 Amazon employer match 01:24 Amazon Mega Backdoor Roth exam

This video provides the difference between Traditional IRA and Roth IRA Retirement Plans. The video will help you decide which plan is the best for you. Watch other videos on my channel on Tips to Financial Independence 401K & 403B #required minimum distribution #roth ira contribution limit #traditional ira contribution limit #how to achieve financial independence and retire early #how to achieve financial independence #how to achieve financial freedom #how to reach financial independence #tips to financial independence... ( 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 The debate over whether to invest in a traditional individual retirement account (IRA) or a Roth IRA has been ongoing for years. Both types of accounts offer unique benefits and deciding which is best for you will ultimately depend on your individual financial situ

The Mega Backdoor Roth 401(k) is very much available in 2023. In fact, you can still perform a Backdoor Roth for the 2022 taxable year. -- Learn more about the Mega Backdoor Roth 401(k): -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions. IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial Group does not provide legal services. No attorney-client relationship exists between Client and IRA Financial, its management, sa

If you are self-employed or small business owner and utilize the SEP IRA, it will have zero impact as to the ability to perform a Backdoor Roth IRA if you are over the contribution limits to directly contribute to a Roth. -- Learn more about the Backdoor Roth IRA: -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions. IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial Group does not provide legal services. No attorney-c

Chances are if you could get one over on the IRS, you would take full advantage. I am all about paying the taxes that I owe, but I don’t want to pay more than I have to, if I can legally pay less - I will. 👮 Today on The Wealth Board™ 👨‍🏫 I am going to share information on the Backdoor Roth IRA. If you don’t know about the Roth IRA, it is one of the best tools for building wealth. It allows you to accumulate tax free money. You can only put a certain amount into a Roth IRA each year. As of 2020 if you are under the age of 50 you can contribute $6,000 (add $1,000 if you are over 50). If you are single and make less than $124,000 (adjusted gross) you can contribute. The IRS starts to phase out on a scale as your income increases. If your income exceeds the limits set by the IRS you can contribute to a Traditional IRA with a pre-tax deduction. If you want to take advantage of the Backdoor Roth IRA, you would invest into a Traditional IRA and then convert this to a R

You want to retire wealthy and also have a high income? If you make more than $153K for 2023 as a single filer, you can still contribute to a Roth IRA using the “Backdoor” Roth IRA method. This way, you can take out earnings and contribution tax and penalty free at 59.5 years old. Woohoo! You can create a backdoor Roth IRA in one of three ways: * Contribute money to an existing traditional IRA and then roll over the funds to a Roth IRA. Or you can roll over existing traditional IRA money into a Roth—as much as you want at one time, even if it’s more than the annual contribution limit. * Convert your entire traditional IRA to a Roth IRA. * If your company 401(k) plan allows conversions, you can roll your 401(k) account over to a Roth IRA. Always talk to a tax expert to see what tax implications there are and how the pro-rata rule applies. Here’s more info: Share this video with a friend who is a high-income earner and still wants to invest. I’ll also talk more about ho

소득제한 규정 때문에 Roth IRA를 할 수 없는 사람들도 트레디셔널 IRA를 컨버전하는 방법으로 이용할 수 있습니다. 흔히 Backdoor Roth라고 부르는 방법인데 백프로 합법적 방법입니다. 컨버전을 하면서 세금을 내니까 정부 입장에서 보면 세금을 빨리 걷을 수 있으니까요. 그렇다고 누구에게나 컨버전이 적합하다, 얘기하긴 힘듭니다. 여러가지 지켜야 할 사항들도 있고 또 세금 부담을 어떻게 처리하느냐는 문제도 있기 때문입니다. 그래서 톡톡에서 이런 점들에 대해 살펴 봤습니다. BGM: Submarine by Dyalla Opening Video by Kelly Lacy from Pexels... ( 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 Write an article about Backdoor Roth IRA in English https://inflationprotection.org/rewrite-this-title-backdoor-roth-ira/?feed_id=103916&_unique_id=647afbdf3dca0 #Inflation #Retirement #GoldIRA #Wealth #Investing #AggregationRule #backdoorroth #megabackdoorconversion #nondeductibleira #Rollover #roth5yearrule #rothconversion #SIMPLEIRA2yearrule #Steptransaction #trusteetotrusteetransfer #BackdoorRothIRA #AggregationRule #backdoorroth #megabackdoorconv

END OF BACKDOOR ROTH? (HOUSE PROPOSES CHANGES TO IRA, 401K) | House Democrats just unveiled a plan that might spell the end of the backdoor Roth IRA and mega backdoor roth strategy. This video explains the 3 most important changes that might affect you and your IRA/401k contributions. Text of the bill: #backdoorRoth If you need help positioning your retirement portfolio given the proposed IRA & 401k changes, schedule a free discovery call today at: ! Get free monthly financial tips by subscribing to our newsletter at Skip Ahead Here! 0:00 End of Backdoor Roth? 0:32 #1 Change: Prohibit contributions to IRA for certain taxpayers 1:05 #2 Change: New Required Minimum Distributions for IRA & 401k 1:41 #3 Change: End of Backdoor & Mega Backdoor Roth? ***RECOMMENDED READING LIST*** The One-Page Financial Plan by Carl Richards (easy read, holistic + fun graphics!) Simple, Smart Investing by Ian Kennedy (can help you construct your investment portfolio) A Rando

In 2023, you can contribute up to $66,000 if you’re under 50 and $73,500 if you’re 50 or older to your Meta 401(k). 👉 You can fully leverage these limits by taking advantage of the Microsoft Mega Backdoor Roth. This is a powerful benefit within your 401(k). It allows you to contribute after-tax dollars and convert those dollars to Roth. ****** SUBSCRIBE to our channel to view more videos created for Microsoft employees FIND Aaren Strand, CFP® on LinkedIn: RESOURCES for Microsoft professionals at ****** Avier Wealth Advisors 425-467-1011 10655 NE 4th Street, Suite 500 Bellevue, WA 98004 info@avieradvisors.com Website: We focus on providing comprehensive financial planning and investment advisory strategies for tech professionals and their families Third Party: Avier Wealth Advisors is not affiliated with Microsoft. There is no guarantee that the information we have provided is accurate. Microsoft employees are encouraged to contact their employe

"Hi Joe, Al and the Great and Powerful Andi! Regarding Podcast 391 at 23:54, 32-year-old Mike said he made his Roth $6000 "contribution" through a back door "conversion". Maybe I am off-base here, but I wonder if there is some confusion related to the conversion and contribution terms. His income for a "contribution" was too high for a direct Roth contribution. However; if he is converting to a ROTH IRA, that's a different story and he should NOT mark it on his taxes as a "contribution" because it is a conversion. The $6000 limit is also for a contribution but not a conversion. For Mike's sake, in case there is confusion on the terminology, can you explain the differences between ROTH contributions and their limits (income/contribution) compared to a ROTH conversion with limits (income/conversion NOT "contribution")? Thanks, Nancy" Listen to the entire Your Money, Your Wealth® podcast: Download the Comple

In recent weeks, we've talked a lot about the Roth IRA, and more specifically, the Backdoor Roth; here's how it works and exactly how to do it. -- Learn more about the Backdoor Roth IRA: -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions. IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial Group does not provide legal services. No attorney-client relationship exists between Client and IRA Financial, its manage

"Hello, love the show! My wife and I are 41, have 4 kids, I drive a 2020 Nissan Altima and we have a cat. I have a rollover IRA worth about $315k, Roth IRA of about $100k and a 401k at work of about $125k. My wife has a $18k Rollover IRA and a $75k Roth IRA. We also have a taxable brokerage account worth $125k. We make too much to do a Roth contribution. We plan to convert her rollover IRA to her Roth and pay the taxes from our brokerage account. My question is, can we convert my wife's rollover IRA to her Roth IRA and also contribute to a non-deductible IRA and convert that to a Roth (backdoor style) in the same year or do we have to wait until next year to do the backdoor? Thanks again Ben, Fargo ND" Listen to the entire Your Money, Your Wealth® podcast: Download the Complete Roth Papers Package, including the Ultimate Guide to Roth IRAs, the 5 Year Rules for Roth IRA Withdrawals, and the Roth IRA Basics Guide: Pure Financial Advisors, LLC is a fee-only

You may have heard of a Roth IRA, but you may have been disappointed to learn that they have certain limits, especially when it comes to your income. If you make more than a certain amount the IRS limits how much you can contribute to a Roth IRA. But, believe or not, there are ways around some of these limits. How? Use the back door! If you want to know what that means, watch this video until the end. I'll show you that you can put money into a Roth IRA no matter how much money you make through a method called a "backdoor Roth IRA", also known as a Roth IRA conversion. I'll walk you through the process step by step and answer any questions you might have. Hi, I'm Kim, and to start, let's define a Roth IRA. A Roth IRA is like a traditional individual retirement account , but you put money into it that has already been taxed. This means that you don't get a tax break right away as you do with a traditional IRA. The best thing about a Roth IRA is

High income earners that wish to get funds into a Roth IRA must utilize the "backdoor." But can you do it every year? Adam Bergman answers that burning question. -- Learn more about the Backdoor Roth IRA: -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions. IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial Group does not provide legal services. No attorney-client relationship exists between Client and IRA F