Follow 👉 @austinwhaley_ for daily finance tips! Roth IRA’s can be a powerful account for retirement planning , but because they are so beneficial, they do come with some limitations. For 2023 you can contribute up to $6,500 ($7,500 if you are 50 years or older), and you can be disqualified from contributing if you make over $153k (if you’re single) and $228k (if you’re married). If you exceed these thresholds, be sure to check out the “back door Roth IRA”. This can allow you to still contribute up to the max contribution limit, despite having a higher income! Just be sure to consult with a financial advisor to properly execute this strategy!👍 Are you planning to max out your Roth IRA this year?… . . . . #rothira #taxfreeretirement #backdoorrothira #iralimits #taxfreewealth #taxfree #investingtips #moneytips #learntoinvest #investingforbeginners #investing #financialeducation #personalfinancetips #financialfreedom #buildingwealth #investmentstrategy #financecoach #fin
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)