Timothy Sumer

This Video talks about a Back-Door Roth IRA. In this video, I explain about a Back-Door Roth IRA. Be sure to subscribe for more Personal Finance Videos Email me at: info@alcsconsulting.com to book a One on One Financial Coaching session with me. Monthly Money Budget Excel Template. One on One Financial Coaching. Buy Alton Shillingford Merchandise at Subscribe to me on YouTube at About me: Hello, my name is Alton and I am a Financial Coach. On this channel, I talk about everything that deals with Personal Finance from Investing, Saving Money, managing your money, getting out of debt, Budgeting, Building Wealth, and Entrepreneurship. Email Address: info@alcsconsulting.com... ( 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 Back-Door Roth IRA Explained in English If you have been researching retirement savings options, you m

The process of doing a Backdoor Roth IRA can be complicated. You also need to be aware of the pro-rata rule if you have a balance in your Traditional IRA. 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - #FIREPsyChat #FinancialIndependence #BackdoorRothIRA 🎵 Music and Sound Effe

In this video, I am going to teach you a tax loophole that all the rich ppl have been using - Backdoor Roth IRA. Specifically, I'll be showing you how to set up your own Backdoor Roth IRA in 2023, and the things to watch out for before doing it. If you're interested how the wealthy maximize their returns and pay $0 in taxes, be sure to watch this video! Are you a Freedom Seeker ready to retire early? ➡️ Get in Early Retirement Academy here: The Early Retirement Academy is my signature coaching program that shows you how to create your own Passive Income Ecosystem to retire from any and all BS - because freedom is your birthright! ◽️◽️◽️◽️◽️◽️ 🤍 RESOURCES I CREATED FOR YOU! Free Early Retirement Training: $2000+ Passive Income Opportunities Via Churning: Early Retirement Advantage Podcast: ◽️◽️◽️◽️◽️◽️ 🤍 More income opportunities: Chase $200: Chase Credit Card $800: Sofi $275: Moomoo free stock: M1 Finance $10: ◽️◽️◽️◽️◽️◽️ 🫶 Let’s hangout more: In

The process of doing a Backdoor Roth IRA can be complicated. You also need to be aware of the pro-rata rule if you have a balance in your Traditional IRA. 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - ⏰ Table of Contents ⏰ 0:00 Backdoor Roth IRA Explained 7:44 Pro Rata Rule Ex

A Backdoor Roth IRA is a method where you make a nondeductible contribution to a Traditional IRA and then do a Roth conversion to a Roth IRA, allowing someone to contribute to a Roth IRA if they are over the income limits. This video will show you how to perform a backdoor Roth IRA step-by-step and guide you through the process with Fidelity Investments. I do this process every year with my own Roth IRA in Fidelity, and in the first part of this video, I explain the backdoor Roth IRA and why you may want to consider doing one and the steps I take at the beginning of every year to contribute to not only my backdoor Roth IRA, but also my HSA. As I perform my contributions once per year and both of these accounts are at Fidelity, this process is incredibly easy and convenient. This was my first video on this channel in 2022, and it was so popular throughout the year that I decided to remake this video with all of your FAQs baked in with some improved video editing to make

What is a backdoor Roth, and is it good for you? This video explains what a Roth individual retirement account (Roth IRA) is, and what the backdoor Roth entails. A backdoor Roth can be an effective retirement planning vehicle, depending on your financial situation and retirement goals. Watch now. ▬▬▬▬▬▬▬▬▬▬▬▬ஜ۩۞۩ஜ▬▬▬▬▬▬▬▬▬▬▬▬▬ ▓▓▓▓▓▒▒▒░░░ AWESOME TO HAVE YOU! ░░░▒▒▒▓▓▓▓▓ ▬▬▬▬▬▬▬▬▬▬▬▬ஜ۩۞۩ஜ▬▬▬▬▬▬▬▬▬▬▬▬▬ THANKS FOR THE VISIT. MAKE YOURSELF COMFORTABLE. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 💎WANT TO RAISE YOUR IQ? Subscribe. ✨HAVE AN IDEA? Comment below. 🟢LOVE THE VIDEO? Like and share it. 📞WANT TO TALK? Email us. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ WANT TO LEARN MORE? VISIT US. 👇👇👇 🔗FACEBOOK - 🔗INSTAGRAM - 🔗YOUTUBE - 🔗PINTEREST - 🔗TWITTER - ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ COPYRIGHT-FREE MATERIAL😉😉😉 STOCK IMAGES: DREAMSTIME, iSTOCK and GETTY IMAGES MUSIC: MERENGUE DE LIMON | YOUTUBE AUDIO LIBRARY #Retirement#RetirementPlanning#PersonalFinance... ( read more ) LEA

In this video, we’re discussing the Backdoor Roth conversion and how you can use it to your advantage. Roth IRA Explained: ✅ SUBSCRIBE to NOT being a transaction ever again... ✅ Like us on Facebook! ✅ Follow us on Twitter! ✅ Check out our site for more tips The Retirement Tax Bomb refers to the massive IRA/401(k) tax burden that could hit high income earners in their retirement years. They accumulated assets pre-tax for decades to lower their yearly taxable income, and now that their accounts are massive, the taxman cometh. To alleviate this burden, financial planners, CPAs, and tax advisers started talking about using Roth IRAs to lower their taxes in retirement. A Backdoor Roth IRA conversion allows you to convert nondeductible traditional IRA contributions to a Roth IRA, even if you make too much money to do so. Here’s how it works: Open a Traditional IRA and max out your nondeductible contributions to it. ($6k under 50, $7k over 50 for 2022) Then, IMMEDIATELY