Timothy Sumer

Self-directed IRA LLC Question Answered - How can I fund my IRA LLC bank account? Please book a call: Our owners host daily webinars on our community where you can ask questions! Please join My Community to participate & ask questions: Please join My Community to ask questions: Free to Join! All are Welcome! LEARN MORE: The solo 401k plan , commonly referred to as self-directed Solo 41k is the retirement plan of choice for self-employed individuals or owner-only businesses including for the features highlighted below: -The highest contribution limits for any defined contribution plan including up to $57,000 (or even $63,500 if you are 50 or older) for 2020 (for 2021: $58k or $64.5 if you are 50 or older). -The ability to make pre-tax, Roth, and even Mega Backdoor Roth contributions. -401k participant loans of up to $50,000 -Invest with checkbook control in real estate, cryptocurrencies, notes, private placements, and other types of alternative investmen...

What is the best bank or brokerage to open accounts for my self-directed 401k? Book a call: Our owners host daily webinars on our community where you can ask questions! Please join My Community to participate & ask questions: Please join My Community to ask questions: Free to Join! All are Welcome! LEARN MORE: The solo 401k plan, commonly referred to as self-directed Solo 41k is the retirement plan of choice for self-employed individuals or owner-only businesses including for the features highlighted below: -The highest contribution limits for any defined contribution plan including up to $57,000 (or even $63,500 if you are 50 or older) for 2020 (for 2021: $58k or $64.5 if you are 50 or older). -The ability to make pre-tax, Roth, and even Mega Backdoor Roth contributions. -401k participant loans of up to $50,000 -Invest with checkbook control in real estate, cryptocurrencies, notes, private placements, and other types of alternative investments. Open a...

The trillions in excess personal savings built up in the pandemic are beginning to vanish amid high inflation, according to Federal Reserve economists. The monthly saving rate fell to a 15-year low in 2022. It started a recovery in 2023, but remains well below long-term trends. Despite this slowdown in saving, consumer spending has remained robust, keeping the U.S. from recession. “Something like $2 [trillion] to $2.5 trillion above what we would have otherwise expected were saved by American households,” said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions. Collectively, Americans have trillions in excess savings compared with expectations leading up to the pandemic, according to Federal Reserve economists. Watch the video above to learn about how the personal savings rate affects you and the wider economy. Chapters: 00:00 — Introduction 01:26 — Budgets 02:40 — The personal saving rate 05:33 — Recession? 07:48 — Ways of sav...

Best viewed in 720 - sometimes 1080 makes the color weird. Thank you so much for watching! Please subscribe if you enjoyed! This video DOES NOT go into tax specifics as I am not a tax advisor. For more details on the 8606 form, see: Site I used to open my IRA and Roth IRA: If you contribute the maximum of $6000 per year starting at the age of 18 and you average a 7% return…you’ll have $2.1 MILLION Dollar by the age of 65. Learn about Traditional IRA: Advantages: Grow potential earnings tax deferred; No income limitations to open an account; Current year contributions may be tax-deductible However, you'll pay taxes on deductible contributions and earnings when you take out money in retirement. Learn about Roth IRA: Advantages: Earnings grow tax-free; Qualified tax-free withdrawals; No mandatory withdrawals (unlike a Traditional IRA) Roth IRA contributions are made on an after-tax basis. However, keep in mind that your eligibility to contribute to a Roth IRA is ba...

... ( 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 you work towards financial freedom, one investment option worth considering is a Roth IRA. A Roth IRA is a retirement account that can be opened through various financial institutions, such as banks or brokerage firms. It has become increasingly popular for those who want to grow their wealth and save for retirement. Traditional IRAs are tax-deferred, meaning you don't pay taxes on the money you put in upfront when you file your taxes each year. However, when you retire and start withdrawing money from the account, you'll pay taxes on the money you take out. With a Roth IRA, you don't get the immediate tax breaks on your contributions, but your earnings and withdrawals are tax-free. This means that when you are ready to withdraw in retirement, you don't have to worry about...

Jenny asks Dave if her and her husband should combine their finances. Dave explains two big reasons why that's is important. Get a FREE customized plan for your money. It only takes 3 minutes! Visit the Dave Ramsey store today for resources to help you take control of your money! Become a Channel Member today: Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more! Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country! Ramsey Network (Subscribe Now!) • The Ramsey Show (Highlights):...