Timothy Sumer

What is a reverse rollover, and why might you roll an IRA into a 401(k) or 403(b) account? The term refers to moving money in a way that’s different from what happens most frequently. At some point, people often move money out of their workplace retirement plans—and into an IRA that they control. There are pros and cons of doing that, and of course, you want to review your options carefully before making any moves. 🌞 Subscribe to this channel (it's free): But there may be good reasons for moving money in the opposite direction: From an IRA to your 401(k) or similar plan. When you do that, you can potentially eliminate pre-tax IRA balances, which could help you manage RMDs (by postponing them, at least) or do backdoor Roth conversions. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments There may be other reasons for reverse rollovers, as well. For instance, maybe you’re going to leav...

Most people retire around age 62, and most retirement advice is geared toward those who retire well after age 55. So if you’re retiring at 55, you need to be especially careful about typical rules and strategies—because they might not apply to you. 🤩 Check out my free online retirement calculator designed for early retirement: 🤩 For instance, getting health coverage could be a challenge after you leave your job. But you might have several options, and some tax strategies might help you save money on premiums. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments If you found the video helpful, you'll enjoy the information above! There’s also the question of where to get money from before age 59.5. Retirement accounts typically have early withdrawal penalties, but the tax code offers several ways to get money out early. We’ll review those here. Related videos: - Health Care ...