Timothy Sumer

Today we're focused on comparing a 401k loan to an early withdrawal from a Traditional IRA. We will include the new CARES ACT rules. If you are currently struggling financially and have to make a decision between the two then here are some things to consider. Remember a 401k loan is a loan from yourself to yourself and no one else. An early withdrawal from a Traditional IRA is treated differently now thanks to the CARES ACT which was introduced due to the virus. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. ---Ready to subscribe--- For more information visit: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW T

We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. ---Ready to subscribe--- For more information visit: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Retirement savings can be a difficult subject to understand, making it tough to know what to do when unexpected situations arise. For example, what happens if you need to withdraw from your 401k before retirement age? Will you face hefty penalties? According to the IRS, the answer is sometimes "no." There are specific cases where you can withdraw funds from your 401k without penalty, thanks to the IRS 55 year rule. The IRS 55

Today we talk about the early withdrawal penalties from the Traditional IRA as well as the Roth IRA. We cover this topic frequently as there is always a little confusion as to what penalties or taxes you have to pay in the event you take an early withdrawal from one of your retirement accounts. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. ---Ready to subscribe--- For more information visit: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( 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 retirement planning is an important part of financial planning. A Roth IRA is an excellent option for retirement savings. However, if you need to withdraw

When talking about the Roth IRA there are many things people misunderstand. One of them is the 5 year rule that applies to the Roth IRA. Any contributions that you make to a Roth IRA are ALWAYS available for you to withdrawal at anytime. Even if you are not currently of retirement age you can still take out any contributions you make to a Roth IRA. The 5 year rule applies to those that are currently of retirement age only and affects the gains in the Roth. The other is the tax ramifications of withdrawals from a Roth IRA. Of course when you retire at 59.5 or older you can withdrawal any amount you want from your Roth IRA. If you withdrawal only contributions prior to that age then you are not required to pay any tax or penalty. It is only on the gains that you would pay a 10% penalty if you withdrew that early. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments and, using NestEgg we can help you with eve

In this video, I provide you with a few tax loopholes that you can take advantage of if you currently have an IRA account that you are interested in withdrawing from. A Traditional IRA and a ROTH IRA can both be great ways to save for retirement but in these questionable times, you may need to tap into those funds for financial relief. Here's how you can do that without being penalized. #traditionalira #rothira #retirement #taxloophole *Comment below with any questions or new topics you would like me to discuss! **Give a LIKE to the video! ***SUBSCRIBE to stay up to date! NEED FINANCIAL PLANNING or HELP WITH YOUR TAXES? Email me contact@thefinancialspotlight.com CONNECT WITH ME and Get MORE FREE FINANCIAL CONTENT EVERY WEEK ============== YouTube - Facebook - Instagram - Get Your Self Lender Account TODAY - Get Your Chime Account TODAY - LOOKING FOR A WORK FROM HOME JOB? JOIN THIS FACEBOOK GROUP: JOIN MY FREE 5 DAY MONEY FINDER CHALLENGE - GET YOUR FR