Timothy Sumer

... ( 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 Backdoor Roth Conversion: Don't Miss Out on the Misunderstood Tax Credit For individuals with high incomes, contributing directly to a Roth IRA may not be an option due to income limitations set by the Internal Revenue Service (IRS). However, there is a little-known loophole called the backdoor Roth conversion that allows high earners to bypass these restrictions and contribute to a Roth IRA indirectly. This strategy has gained popularity in recent years, but many people are missing out on an additional tax credit that comes along with it. Before diving into the details of the tax credit, let's first understand the concept of a backdoor Roth conversion. It involves making non-deductible contributions to a traditional IRA and then converting the funds into a Roth IRA. Since there are no ...

Everyone wants tax free income in retirement. Seriously, who wouldn't want tax free retirement income? That's part of what makes the Roth IRA a favorite retirement vehicle for investors and financial advisors alike. But the Roth IRA has some serious limitations. Not only are their contribution limits to putting money into a Roth IRA, but there are also Roth IRA limits to how much income you can earn before putting money into a Roth IRA. So what are the Roth IRA income limits and how do they vary? We'll take a deep dive into the Roth IRA and exactly how much you can make, while still contributing to a Roth 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 As the age-old saying goes, nothing is certain but death and taxes. And while there may be no escaping either, there are ways to prepare for the latter, such as planning ahead...

On Your Money, Your Wealth® podcast #314 with Joe Anderson, CFP® and Big Al Clopine, CPA: Are you eligible to make a backdoor Roth IRA conversion? Is it allowed? Is it taxed? How does a Roth 401(k) different from a Roth IRA? Can you buy a family member’s condo for below market value then rent it back to them? Can you max out a family member's Roth each year? Can you file 2020 taxes even though you haven't received IRS form 1098 yet? How can you diversify your portfolio into more international investments? How do capital gains "ride on top" of ordinary income again? And finally, a correction regarding Social Security deeming rules. Access the transcript and financial resources, ask your money questions: 00:00 - Intro 01:00 - Can I Do a Backdoor Roth Conversion? (Nick, Huntington Beach, CA) 09:11 - Is a Backdoor Roth Conversion Taxed? (René) 12:56 - We Make too Much to Contribute to Roth. Are Backdoor and Mega Backdoor Roth Strategies Allowed? (Jane, Michiga...

If you are a married household that makes about $200k, or about $140k for single filers, doing something called a "Mega backdoor roth conversion" is a great way to get more into your Roth savings. How to qualify for a Mega Backdoor Roth First, you have to participate in a 401k plan at work. That plan must allow something special called after-tax contributions, which are contributions in excess of the $19,500 annual limit (for 2021). If your plan allows this, you may be able to do mega backdoor roth conversion, which involves making these after-tax contributions and then converting them to a Roth 401k or Roth IRA while paying no additional taxes. What to Know About Mega Backdoor Roths There are a couple caveats though. First, this is a lot of money. You can contribute up to about $30,000 this year in after-tax contributions. But you need to calculate the amount to ensure you don’t over contribute, and ensure you take the right steps because this is a multi-step...

On Your Money, Your Wealth® podcast #297 with Joe Anderson, CFP® and Big Al Clopine, CPA: What is the MEGA backdoor Roth IRA conversion and should you do one? How do you create retirement income for the gap between retiring at 66 and taking Social Security at 70 and RMDs at 72? Joe and Big Al also answer a question on the taxation of an overseas inheritance, and they discuss your comments. Access the episode transcript and financial resources and send in your money questions to be answered on the YMYW podcast: 00:53 - Roth Conversion or Retirement Income in Gap Years? 07:01 - Mega Backdoor Roth IRA Conversion 17:42 - Mega Backdoor Roth IRA Conversion 24:46 - Taxation on Overseas Inheritance? 30:47 - Comment: FIRE YMYW TV Episode 32:20 - Comment: Don't Call it the Backdoor Roth Show Schedule a free assessment with any one of our CFP® professionals, either online or at one of our financial planning offices in San Diego, Brea, Irvine, and Woodland Hills, California: Sub...

Want To Learn What You Need To Do to Become Financially Empowered? So You Can Accomplish More With Your Money! Then you should check out my FREE money 101 video called "Becoming a Seriously Savvy Woman". If you've been struggling with not knowing what to do or where to start when it comes to investing and managing your finances then you should watch this Video Training because among other things it reveals: The Four Rules of Money for Women The Five Steps to Financial Empowerment The Five Secrets to Becoming a Seriously Savvy Woman Get your money 101 video: Schedule a consultation: Sign up for our "Savvy Up Today!" newsletter: Catherine Magaña is a CFP® or CERTIFIED FINANCIAL PLANNER™ and Managing Partner at Savvy Women Wealth Management in Carlsbad California. We help women invest wisely and create custom financial plans for their way of living so they can enjoy a fulfilling retirement with peace of mind... ...without giving up their life...

**UPDATED FOR 2021: Microsoft Mega Backdoor Roth Conversion** In this video we walk through the 2019 MICROSOFT MEGA BACKDOOR ROTH CONVERSION benefit, also known as the Microsoft 401(k) After-Tax Roth Conversion Benefit. 👏 To access our website about MICROSOFT EMPLOYEE BENEFITS or learn more about the Microsoft Mega Backdoor Roth option, please visit Website: Email: lars@avieradvisors.com Direct: 425-531-7329 Address: 10655 NE 4th St. Suite 508, Bellevue, WA 98004 The Microsoft Mega Backdoor Roth Conversion is one of the most amazing benefits available within the Microsoft 401k plan . The Microsoft Mega Backdoor Roth Conversion is officially known as the Microsoft 401(k) After-Tax Roth Conversion Benefit. 0:41 Why most people don’t know about the Microsoft Mega Backdoor Roth Conversion 1:00 General info about the Microsoft employee benefit plan, including insurance, stock grants, Microsoft deferred compensation plan for Microsoft level 67 employee and above,...

In this video we walk through the INTEL MEGA BACKDOOR ROTH CONVERSION benefit, also known as the Intel 401(k) After-Tax Roth Conversion Benefit. 👏 Please subscribe to our channel for more updates and information about the Intel 401(k), your Intel benefits, and the Intel Mega Backdoor Roth Conversion benefit. Website: Email: alex.krider@avieradvisors.com Direct: 503-347-8218 #Intel #Backdoor #Roth The Intel Mega Backdoor Roth Conversion is one of the most amazing benefits that will be available within the Intel 401k plan starting in January 2020. The Intel Mega Backdoor Roth Conversion is officially known as the Intel 401(k) After-Tax Roth Conversion Benefit. In this video you will learn: 0:31 What is the Intel Mega Backdoor Roth Conversion? 1:05 How the Intel 401k plan works in terms of contributions and matching 2:34 Why using the Intel Mega Backdoor Roth Conversion can be important from a tax perspective 3:30 How to learn how to leverage the Intel Mega Ba...

I have the perfect example of when you should use the Backdoor Roth IRA, coming up. Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - ​ Twitter - ​ Instagram - Want more Wise Money™? Read our blog! ​ Listen on Podcast: ​ Subscribe on YouTube: This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO...

In this video we walk through the JLL MEGA BACKDOOR ROTH CONVERSION benefit, also known as the JLL 401(k) After-Tax Roth Conversion Benefit. To learn more about how to maximize your employer benefits, visit our website or reach out to Lars Phillips. Lars Phillips, CFA, CFP® - Lead Advisor (425) 531-7329 lars@avieradvisors.com This video is for illustrative purposes only. Individual situations may vary. Please consult your tax advisor to determine if the scenarios discussed in this video are right for you. Investment Advisory services offered through Avier Wealth Advisors. Avier is not affiliated with Jones Lang LaSalle (JLL). ... ( 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 https://inflationprotection.org/jll-401k-mega-backdoor-roth-conversion/?feed_id=37556&_unique_id=636b21c61a038 #Inflation #Retirement #GoldIRA #Wealth #Investi...