Timothy Sumer

It’s a new week which means we have a new Weekly Webinar episode to help you better navigate and understand your finances. This week, Mark touches on a range of wealth management topics, from recent headlines to a review of the markets, ending with tips on how you can save tax on inherited IRAs. Mark begins the webinar by touching on the headlines that have come out this week. Most recently, the Consumer Price Index released its numbers for the month of June, showing that inflation is coming down to more normal areas. However, Mark notes that the FED is still looking for a 2% inflation rate so it’s unclear if they will stop raising interest rates or if they’ll begin making cuts. He also touches on the numbers that came from the Producers Price Index as well as other recent economic indicators. Following this, Mark shares updates from the Ed Slott Group for this week, the big update being that the IRS excused any missed RMDS in 2023 within the 10-year payment period and is...

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: ...

The Secure Act passed in 2019 and has some big implications for tax planning specifically when it come to passing on generational wealth. For year the stretch IRA has been a planning staple. A way for kids, grand-kids, etc to minimize the tax implications of inheriting a large sum of qualified retirement account money. Starting in 2020 the rules around inherited IRAs will change drastically. Now more than ever, ROTH conversions ans properly structured cash value life insurance policies should be considered as part of your overall retirement and estate planning strategy. To see our views on retirement planning check out our free course: Have other questions: Book a Time to chat here: OR Send us your question here: ... ( 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 https://inflationprotection.org/secure-act-tax-changes/?feed_id=5044...

Today we will update you on the most recent changes to the RMD rules that the IRS just made without going through congress. We will focus on RMD rules for all accounts but in particular, the inherited IRA's since they have had many changes recently. With the new 10-year stretch rule and the ability to return RMD distributions already made this year this is one that could save you a ton of dough! 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: --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( 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 https://inflationprotection.org/the-irs-changes-rmd-rules-...

In today’s video, we will be talking about inheriting IRAs, and some of the rules regarding holding these “beneficiary” IRAs. I’ll also be explaining how you can also still look at this solution from a cross border perspective specifically as it pertains to Canadian resident beneficiaries. For the purpose of today’s video, an IRA can refer to a Traditional IRA, ROTH IRA, rollovers, SEP and Simple IRAs, the process and rules are the same for all. The cool part about these types of accounts you can name just about anyone, including a trust, as beneficiary. There are however different sets of rules for spouse vs. non-spouse beneficiaries. #IRA #TraditionalIRA #InheritedIRA #beneficiary #SEP #SimpleIRA #Roth #RothIRA... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA https://inflationprotection.org/inheriting-iras/?feed_id=40867&_u...