Timothy Sumer

Show Notes: I wanted to share an informative video with you that discusses strategies to increase your Roth IRA or 401k balance. These strategies can help you maximize your retirement savings while potentially reducing future tax burdens. The video provides valuable insights into two specific techniques: the backdoor Roth IRA strategy and the mega backdoor Roth IRA strategy. Questions? Email us at Hans@CardinalGuide.com, call us at (919) 535-8261, or visit our website at H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska 100118081, Arizona 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 445296, Idaho 507076, Illinois 100333675, Indiana 721739, Iowa. 1002056691, Kansas. 272705345, Kentucky 738674, Louisiana 614407, Main

Show Notes: 5 Key Changes to your IRA/401k as result of Secure Act 2.0 being signed into law. 1) Delayed RMD age. 2) Qualified Charitable Distribution (QCD) improvements. 3) Roth options in employer plans 4) Leftover 529 balances to a Roth IRA. 5) Missed RMD penalty reduced. Watch the video to learn more! Questions? Email us at Hans@CardinalGuide.com, call us at (919) 535-8261, or visit our website at H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska. 100118081, Arizona. 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 445296, Idaho 507076, Illinois 100333675, Indiana 721739, Iowa. 1002056691, Kansas. 272705345, Kentucky 738674, Louisiana 614407, Maine AGN249408, Maryland 100048542, Massachusetts 2006645, Michigan 01042

Show Notes: Do you know the difference between a CONTRIBUTION to your retirement account and a CONVERSION of your retirement account ? To CONTRIBUTE you must still be working and you face annual limits as to how much you can contribute. To CONVERT to a Roth IRA, you can be retired and your only limits are the size of your pre-tax IRA/401k and the income tax you are willing to pay. Roth IRAs are great for tax free retirement income later and to leave to your children and grandchildren as an inheritance. Questions? Email us at Hans@CardinalGuide.com, call us at (919) 535-8261, or visit our website at H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska. 100118081, Arizona. 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 44