Timothy Sumer

An annuity is a contract with an insurance company. Annuities have one feature in common, and it makes annuities different from other financial products. With an annuity, the insurance company promises to pay you an income on a regular basis for a period of time you choose – including the rest of your life.  #retirementplanning #retirement #inheritance #babyboomer... ( read more ) LEARN MORE ABOUT: Retirement Annuities REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Annuities are financial investments that offer regular income payments over a specified period of time. They are often used as a tool for retirement planning, providing a steady stream of income to individuals during their golden years. Annuities are sold by insurance companies and can be customized to meet individual needs and goals. At its core, an annuity is a contract between an individual and an i...

Inherited $2,800,000, What Should I Do With It? Say goodbye to debt forever. Start Ramsey+ for free: Visit the Dave Ramsey store today for resources to help you take control of your money! Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more! Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country! Ramsey Network (Subscribe Now!) • The Ramsey Show (Highlights): • The Ramsey Show (Full Episodes): • The Dr. John Delony Show: • The Rachel Cruze Show: • Anthony ONeal: • The Ken Coleman S...

Jack and Diane will inherit about $4.5M from Diane’s parents. How do they manage the required minimum distributions? Which of three options should Matt take with his inherited IRA? Making the most of your inheritance, today on Your Money, Your Wealth® podcast 435 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Clay wants to know if it’s a good idea to take money off the table and rebalance to safer or more aggressive investments, depending on your risk tolerance? Can Elizabeth offset pre-tax IRA losses with the gains from the sale of rental real estate? Is it true that you can make one-time contributions from your IRA to your HSA that is, your health savings account? And finally, can Cory gift stock to his daughters and avoid paying the kiddie tax as a way to pay for college? And can Rich supercharge a 529 college savings plan with himself as beneficiary? Podcast show notes, free financial resources, episode transcript: - 00:00 - Intro - 00:58 - How Do We Manage RMDs...

Is it possible to withdraw money from an inherited IRA? We received This popular question, and we're happy to answer it. If you're considering withdrawing money from your inherited IRA, you must watch this video! In this video, we'll explain how to easily withdraw money from your inherited IRA, so you can start taking advantage of your investments immediately. "There won't be anything, but you can keep them probably pretty low." 2:03 Learn how to become anonymous AND appear as if you own nothing at our Free Tax & Asset Protection Workshop 👉 If you're wondering how to withdraw money from your inherited IRA, this video is for you! We'll walk you through the steps necessary to withdraw money from your IRA account and explain the tax implications. If you're ready to begin withdrawing money from your inherited IRA, watch this video and start planning your move! With some preparation, you can withdraw money from your inher...

Lump Sum option description in detail... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inheriting IRAs Lump Sum: A Guide to Understanding the Process Inheriting an Individual retirement account (IRA) can be a significant financial benefit for individuals who find themselves as beneficiaries. The distribution options for inherited IRAs can vary, and one of the options available is to receive the funds as a lump sum. In this article, we will discuss what it means to inherit an IRA lump sum and the key factors to consider when making this decision. First and foremost, let's clarify what an IRA is. It is a tax-advantaged retirement savings account in which individuals can contribute money each year. The contributions and earnings within the account grow tax-deferred until withdrawals are made during retirement. However, when the original ac...

Life annuities and living annuities offer different pros and cons. Which one you choose, or whether you go for a hybrid that combines the two, depends on your needs, for example how important income certainty is to you and whether you want to leave an inheritance. For more information on our products and services, visit our website, nedbank.co.za. Engage with us on social media: Facebook | LinkedIn | Twitter | Instagram | ... ( read more ) LEARN MORE ABOUT: Retirement Annuities REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Retirement Planning: What is the difference between a living annuity and a life annuity? As you approach retirement, one of the most critical financial questions you'll need to answer is how to create a reliable and sustainable income stream to fund your living expenses in retirement. To achieve this goal, many people rely on annuities. An...

AQuest's – LPL Advisor Bob Stockoski discusses your options when you inherit an annuity. There are a lot of things to consider especially from a tax-free point of view. To learn more about Bob Stockoski and AQuest Wealth Strategies visit our website ... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inheriting an annuity from a loved one can be a great way to secure your financial future, but it can also come with significant tax implications. Fortunately, there are some strategies you can take advantage of to minimize the amount of taxes you have to pay when you inherit an annuity. In this article, we will go over some of the best ways to inherit annuities tax-free. 1. Spousal Transfer If you are the surviving spouse of the annuity owner, you may be able to transfer the annuity into your name tax-free. This is known as a spousal transf...

In this video, we interviewed an elder care attorney who shared how you should be thinking about what's ahead. Often overlooked or misunderstood, here is your chance to learn from one of only 19 Elder Care Law attorneys in the state. If you want to protect your assets, you NEED to watch this video! Elder care is a topic that is often ignored, but it is one that is very important. In this video, we share with you some of the basics of elder care, including what it is, how it works, and who is responsible for it. This video will help you create the best plan for elder care and teach you how to best protect your loved ones! Learn more about Lisa: Get to know us at: Follow us on social media: ... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA As individuals age and their health declines, it becomes important to focus on managing their c...

Spoiler alert! The hit series Succession's S4E3 has a plot twist with an interesting lesson to be had for real life IRA investors. So how would it work if this happened to your family? In this video, Adam Bergman, Esq. talks about unexpected inheritance of an IRA. -- Learn more about inherited IRA transfers: -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions. IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial doe...

Heirs may inherit a variety of assets after the death of a loved one. If the deceased person owned stock in a company, their estate beneficiaries may need help deciding what to do with inherited stock. In this video, Paul Grow (Director of Estate Administration at the Law Offices of Daniel A. Hunt) explains what to do with inherited stock. Check out our blog post on this topic: If you or someone you know has questions about this topic, our office is here to help. Learn more at dhtrustlaw.com. This video is solely for the purpose of education and should not be construed in any way to represent an attorney-client relationship between the Law Offices of Daniel A. Hunt and the viewer.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inheriting stock can be a mixed blessing. On the one hand, it's a valuable asset that could generate in...

Why YOU should think about switching to a self directed IRA... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Individual Retirement Accounts (IRAs) are one of the best investment options for individuals who want to save for their retirement. It is a tax-advantaged account that allows you to invest your money in a variety of assets such as stocks, bonds, and mutual funds. Inherited IRA to Self Directed IRA is one of the most popular ways for beneficiaries to take control of their inheritance. An Inherited IRA is a retirement account that is left to someone after the account owner has passed away. The beneficiary of the Inherited IRA can take the distributions from the account, but these distributions are subject to certain IRS rules and regulations. The account has to be distributed within a certain timeframe and the beneficiary has to pay t...

Why would you ever turn away an inheritance? Roger explains why anyone would consider disclaiming an IRA... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Disclaiming IRAs: What Does It Mean? Individual retirement accounts (IRAs) are popular tools that can help you save money for your retirement. However, sometimes, you may receive an IRA as an inheritance. If you find yourself in such a situation, and you don't want the IRA or believe that it's not a good fit for you, you can disclaim it. Disclaiming an IRA means you're forfeiting the right to inherit it. In other words, you are saying "no, thank you" to the IRA. Once you disclaim an IRA, it goes to the secondary beneficiary, as specified in the original IRA document. Alternatively, if there are no secondary beneficiaries or if they too disclaim the IRA, the money goes...

Inheriting an IRA from an American-based account isn’t an ideal situation for a Canadian. You could face thousands of dollars in losses if you don’t have good advice on how to transfer the money. That’s where we come in.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inherited IRA or Inherited Individual retirement account is an option for beneficiaries of an IRA (Individual retirement account ) owner who has passed away, allowing them to receive the assets left in the account. The rules of Inherited IRA in Canada may slightly vary from those applicable in the United States. In this article, we will discuss Inherited IRA in Canada. An Individual retirement account (IRA) is a retirement savings account that allows individuals to save for their retirement. It is a tax-advantaged account as contributions made to it are tax-deductible, and th...

If you're planning to inherit a retirement account at some point, this video will help you avoid paying unnecessary taxes! It all depends on what type of beneficiary you are and what you choose to do next. The SECURE Act (circa 2019) brought with it a number of changes to the financial landscape. One of the most significant changes was to how inheritors of retirement accounts need to distribute funds from those accounts. Until recently, there was a lot of confusion. 0:55 - What are Required Minimum Distributions (RMDs)? 1:27 - What is the Required Beginning Date (RBD)? 2:26 - Categories of Beneficiaries 2:50 - Eligible Designated Beneficiary (EDB) 6:07 - Non-Eligible Designated Beneficiary (NEDB) 8:36 - Not Designated Beneficary (NDB) 9:48 - Why does this matter? Taxes that's wise 11:10 - Conclusion #taxes #inherited #ira #rmd #beneficiary #retirement... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA...

Secure Act Changes May Make Inherited IRA's to Your Kids a Bad Idea If you’re planning to leave an inheritance to your children, there’s a new rule that will probably cause your kids to pay more taxes if you pass on your retirement plan. Today, we’re discussing how the Secure Act, passed in 2019, affects your retirement plans (401k, Inherited IRA, Stretch IRA, etc.) and front-loads taxes to kids to inherit these plans. If you want to know what the Secure Act is, how it applies to you, and what you can do about it … tune in now! Want the Exact Privatized Banking Strategies Our Clients Are Using to Build Financial Freedom? CLICK HERE For the #1 Secret: Listen to The Money Advantage podcast: Ready to move forward with Privatized Banking, alternative investments, or cash flow strategies to coordinate your finances so that everything works together to improve your life today and accelerate time and money freedom? Book an Introductory Call with our team today: ...

With so many people having IRAs as part of their retirement, what happens when they pass away? What are some of the pitfalls? There was a recent court case involving an inherited IRA. What happened? What lessons can we learn? Watch Szarka Financial’s Senior Financial Advisor Alex Menassa, MT, CPA discuss these issues with Fox 8 News Anchor Roosevelt Leftwich. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker Dealer, member FINRA/SIPC. Advisory Services through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Cambridge and Szarka Financial are not affiliated. Fixed Insurance services offered through Szarka Financial.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inherited Individual Retirement Accounts (IRAs) can be a great financial tool, but they can also b...

Inherited IRAs are becoming more common. Understanding the tax ramifications can help you avoid overpaying taxes. Frazier & Deeter Partner Kelly Garrison explains the options.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inherited IRAs are a unique type of retirement account that can be used to pass on wealth to the next generation. They are a powerful financial tool for those who want to pass on their retirement savings to their heirs. But, it’s important to understand the tax implications of an Inherited IRA before making any decisions. The first thing to understand is that an Inherited IRA is not the same as a traditional IRA. With a traditional IRA, the account holder is responsible for making all contributions and withdrawals. With an Inherited IRA, the account holder has no say in how the funds are managed. The beneficiary of t...