Timothy Sumer

In this episode, James emphasizes the importance of having a well-thought-out financial plan for retirement, rather than relying solely on the size of your investment portfolio. Financial security doesn't come from a specific portfolio number but from having a comprehensive plan. Using a listener's question, James walks through a step-by-step approach to assessing retirement readiness. He discusses aspects like income planning, investment strategies, tax optimization, and protection through insurance and estate planning. Shifting your mindset from a saving mentality to a spending mentality in retirement allows you to fully enjoy your savings. Learn how to determine if you'll be financially secure in retirement and how to optimize your financial resources to enhance your overall retirement experience. Questions Answered: How do you assess your retirement readiness? How can you optimize their retirement plan to enhance their overall retirement experience? =====...

In this episode of Ready for Retirement, James discusses Deferred Compensation Plans and how to consider them within your overall retirement strategy. Questions Answered: How should I think about Deferred Compensation in context of my overall plan? When does it make sense to defer compensation (and when does it NOT)? How can your overall retirement strategy be improved? Timestamps: 00:00 - Introduction 2:30 - Deferred Compensation 101 3:25 - Retirement Expenses 5:04 - Tax Planning 8:50 - AVOID This Common Mistake 17:03 - Inflation Impact 19:58 - Deferred Comp Example 23:50 - Aligning Your Financial Goals 24:00 - Working With Us Learn the tips & strategies to get the most out of life with your money. Get started today → Subscribe to be notified for future videos: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: About Root: Worried about retire...

If you’re close to retirement, one crucial aspect to consider is what to do with your hard-earned 401k savings. This decision requires careful thought and planning, as it can significantly impact your financial well-being in the long run. James covers the key considerations to get the most out of your 401k plan: ➡️ Analyzing Costs ➡️ Assessing Control + Ease of Use ➡️ Examining Investment Options ➡️ Consolidations for Simplicity ➡️ Coordinating Withdrawal Strategies In addition to those factors, there are several other important considerations: understanding tax implications, net unrealized appreciation, and penalty-free distributions. Learn the tips & strategies to get the most out of life with your money. Get started today → Subscribe to be notified for future videos: _ _ For more resources and content, check us out below! 🔔Subscribe to our channel to learn more about all things port...

What issues do you need to consider when looking at retirement? There are many pieces and it can often feel overwhelming. Download the Ultimate Retirement Checklist here: Learn the tips & strategies to create your secure retirement. ⏰ TIMESTAMPS 00:00 - Introduction 1:25 - Cash Flow 3:01 - Pension Considerations 5:14 - Subsidy Qualifications 7:01 - Long-Term Care Concerns 8:39 - Stock Compensation 11:07 - Retirement Coordination 12:44 - Tax Planning Strategies 14:01 - The Importance of a Strategy Free Retirement Resources Here: SUBSCRIBE HERE: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: Why I Started Root Financial Partners // How Would You Feel If You Knew You Could Retire Today? // What Makes Our Approach Different? // ... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflati...

How can you maximize your Social Security benefit? Social Security may be one of your primary sources of income in retirement, and you'll learn the tips on how you can be sure to get the most out of your Social Security benefit in today's video. Timestamps: 00:00 - Introduction 1:15 - Full Retirement Age 3:00 - Cost of Living Adjustment 6:57 - Provisional Income 9:17 - State Income Tax 11:39 - Survivor/Spousal Benefits 13:11 - Example of Spousal Benefits 15:54 - TWO-Person Decision! 17:32 - Foundation of Planning Learn the tips & strategies to get the most out of life with your money. Get started today → Subscribe to be notified for future videos: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: About Root: Worried about retirement? Start here: ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA A...

In this video, you'll learn the difference between taking your pension as an annuity vs. electing it as a lump-sum so you can determine what may make most sense for your individual situation. Learn the tips & strategies to create your secure retirement. ⏰ TIMESTAMPS 00:00 - Introduction 1:35 - Maximizing Lifetime Payout 2:21 - Comparing Withdrawal Rates 4:12 - Example 7:57 - Lump Sum Withdrawal Rates 10:01 - Risk Tolerance 12:47 - Avoiding Annuity Option (is that smart)? 15:26 - Social Security Impact 16:33 - Legacy Goals 17:00 - How Your Pension Impacts Your Overall Strategy Free Retirement Checklist Here: SUBSCRIBE HERE: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: Why I Started Root Financial Partners // How Would You Feel If You Knew You Could Retire Today? // What Makes Our Approach Different? // ... ( read more ) LEARN MOR...

How do required minimum distributions work? What is the required minimum distribution age? Should you take RMD from traditional iras, simple iras, sep iras, pre-tax 401k, or roth 401k? In today’s video, we are going to talk about Required Minimum Distributions. What they are? How they work? What can you do with them? At the end of this video, you’ll get to know which RMD Strategy is best for you and how to get the maximum out of your Tax Planning in retirement. Learn the tips & strategies to create your secure retirement. ⏰ TIMESTAMPS 00:00 - Introduction 1:03 - RMD Age 2:03 - Understanding Your RMD 4:47 - How Are RMDs Taxed? 6:11 - 401(k)s, 403(b)s, etc.. 6:58 - Inherited IRAs! (Yes, RMDs apply!) 8:31 - RMD Calculators 9:51 - Inherited Roth IRA 11:51 - Tax Planning 14:31 - Eligible Designated Beneficiary 16:58 - Charitable Giving Strategies 18:45 - RMD Strategy (looking forward) 19:39 - Resources & More! 20:08 - Work With Us Free Retirement Checklist Here: SU...

Maxing out your 401k isn’t the end of the road for your retirement savings. James discusses several smart savings options by walking through real-life examples of unique retirement saving goals and explaining how to allocate your funds to reach them. From investing in a brokerage account to paying down debt, there are a number of ways to continue to grow your savings even after maxing out your 401k. _ _ Learn the tips & strategies to get the most out of life with your money. Get started today → _ _ For more resources and content, check us out below! 🔔Subscribe to our channel to learn more about all things portfolio management 🎧 Listen to our podcast 🧑‍💻 Visit our website to learn more about us 👥 Connect with us on Facebook 📷 Connect with us on Instagram 🔗 Follow us on LinkedIn _ _ ⏱Timestamps⏱ 0:00 Introduction 0:47 Example 1 2:11 Example 2 3:06 Example 3 4:07 HSA 5:...

In this episode of Ready for Retirement, James discusses what you should do with your 401(k) when you retire. Questions Answered: What are the best ways to reduce fees in a 401(k)? Should you move your 401(k) elsewhere? How can your overall retirement strategy be improved? Timestamps: 00:00 - Introduction 1:45 - Listener Question 3:23 - 401(k) Hidden Fees 7:52 - Gaining More Control 9:45 - Investment Options 13:40 - Clunky Planning 17:03 - After-Tax Contributions 21:05 - Net Unrealized Appreciation 24:02 - Tax Treatment 26:08 - Age Importance 29:50 - Working With Us Learn the tips & strategies to get the most out of life with your money. Get started today → Subscribe to be notified for future videos: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: About Root: Worried about retirement? Start here: ... ( read more ) LEARN MORE ABOUT: 40...

A Roth IRA is a wonderful account to build a tax-free income, but there are little rules and nuances about these accounts that enable us to get even more out of them and plan our finances even more effectively with them. In today’s video James Conole is going to share with you seven little-known Roth IRAs benefits so you can become a better financial planner. Learn the tips & strategies to get the most out of life with your money. ⏰ TIMESTAMPS 00:00 - Introduction 1:30 - Roth IRA Benefits 2:15 - Roth IRA Investing 3:40 - Roth IRA Tips 4:45 - Tax-Free Income 6:55 - Financial Planner's Retirement Tips 8:45 - Roth IRA & Financial Planning Free Retirement Checklist Here: SUBSCRIBE HERE: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: Why I Started Root Financial Partners // How Would You Feel If You Knew You Could Retire Today? // What Make...

In this episode of Ready for Retirement, James discusses what you should do with extra income after you max out your 401(k). Questions Answered: What are the best accounts to invest in after your 401(k)? Should you invest in a brokerage/Roth/IRA/etc? How can your overall retirement strategy be improved? Timestamps: 00:00 - Introduction 1:00 - Key Benefit 2:23 - Order of Operations 4:30 - Where To Save Next 6:14 - Example (Person A v. B) 9:50 - HSA (Health Savings Accounts) 12:33 - Backdoor Roth Contribution 15:46 - Brokerage Account Hack 18:50 - Paying Down Debt 21:08 - ESPP 23:50 - Working With Us Get started today → Subscribe to be notified for future videos: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: About Root: Worried about retirement? Start here: ... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How ...

SECURE Act 2.0 Changes are here! Here are 7 important changes and how they may impact your retirement. Timestamps: 0:00 - Introduction 1:00 - Required Minimum Distributions 3:26 - Roth Accounts 4:30 - 529 College Savings Plan Changes 6:30 - Roth IRAs 8:14 - Electing Spousal Changes 10:24 - IRA Contributions 11:30 - Employer Contribution Changes (Roth)! 12:55 - Catch-Up Contribution Changes 14:52 - Penalty Changes Learn the tips & strategies to get the most out of life with your money. Get started today → Subscribe to be notified for future videos: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: About Root: Worried about retirement? Start here: ... ( 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 https://inflationpr...

It can seem overwhelming when it comes to calculating whether or not you're in a position to retire. In today's video you'll learn how to never run out of money. Social Security, Income, Taxes, Investments, etc. These three numbers will tell you if you're in a strong position to retire, or whether or not there are strategies you can implement to help you get there. 00:00 - Introduction :58 - Rules of Thumb Don't Apply 3:00 - Know Your Expenses 5:16 - Non-Portfolio Income Sources 7:26 - Portfolio Goal 8:51 - Arbitrary Number 10:00 - Working With Us Learn the tips & strategies to get the most out of life with your money. Get started today → Subscribe to be notified for future videos: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: About Root: Worried about retirement? Start here: ... ( read more ) LEARN MORE ABOUT: ...

One of the biggest risks every retiree faces in retirement is inflation. How can you protect your portfolio against inflation so that you don't outlive your money? How can you ensure your portfolio is outpacing inflation? In this video, you'll learn how you can set up your financial plan to combat inflation. Learn the tips & strategies to create your secure retirement. ⏰ TIMESTAMPS 00:00 - Introduction 1:00 - How To Protect Against Inflation 1:45 - Real Example 2:30 - Understanding Purchasing Power 4:33 - The Risks of Saving v. Investing 6:11 - No Investment Is Without Risk 8:41 - Importance Of a Plan 10:18 - Inflation & Social Security/Pensions Free Retirement Checklist Here: SUBSCRIBE HERE: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: Why I Started Root Financial Partners // How Would You Feel If You Knew You Could Retire Today? /...

In this episode of Ready for Retirement, James discusses the pros and cons of Mega Backdoor Roth Conversions. Questions Answered: When does it make most sense to implement? What are the best strategies to implement Mega Backdoor Roth Conversions? How can your overall retirement strategy be improved? Free Retirement Checklist Here: SUBSCRIBE HERE: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: Why I Started Root Financial Partners // How Would You Feel If You Knew You Could Retire Today? // What Makes Our Approach Different? // ... ( 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 https://inflationprotection.org/what-are-the-pros-and-cons-of-mega-backdoor-roth-conversions/?feed_id=49680&_unique_id=6399c8fb24...

This is why you should consider a Backdoor Roth Conversion if you make too much money to fund a Roth IRA. If you liked this video, make sure to click thumbs up and watch the full video here: Learn the tips & strategies to get the most out of life with your money. Free Retirement Checklist Here: SUBSCRIBE HERE: _ _ For more resources and content, check us out below! Website // Podcast // Instagram // Facebook // LinkedIn // Other videos we think you'll like: Why I Started Root Financial Partners // How Would You Feel If You Knew You Could Retire Today? // What Makes Our Approach Different? // ... ( 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 https://inflationprotection.org/this-is-when-you-should-do-a-backdoor-roth-conversion/?feed_id=48126&_unique_id=6393d71366974 #Inflation #Retirement #GoldI...