Timothy Sumer

ROTH IRA vs TRADITIONAL IRA(Which Is Better?) What is an IRA? What EXACTLY are the real differences between a Roth IRA and a Traditional IRA? In this video I explain, in detail, which is better, and let you decide which option is best for you. A Roth IRA vs. Traditional IRA. ***More Videos To Check Out*** __________ **Timestamps** 00:00 Intro 00:20 What is an IRA 00:45 Traditional IRA 01:15 Roth IRA 02:23 Who can open and contribute 02:52 Contribution limits 03:23 What investments you can make 03:45 Where to open an IRA 04:20 Penalties 05:27 More on Traditional IRA's 07:37 More on Roth IRA's 10:17 What is the 5 year rule 12:05 What are RMD's __________ ** 1 on 1 Financial Coaching and Mentoring** 📌 **Schedule your 1 on 1** 📌 **Sign Up For Our Weekly Money Updates** 📌 smartmoneybro.com/subscribe/ 🧩 Contact Me: smartmoneybro@gmail.com __________ ** SAY HI ON S O C I A L ** Website: Facebook: Instag...

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I am back with a new video, Roth IRA VS Traditional IRA | Which is BEST for you? I hope this video will be helpful for you. Welcome to the Money And Happiness Channel. In this video, we're going to compare and contrast Roth IRAs and Traditional IRAs. We'll see which is best for you, based on your individual needs and circumstances. We'll explain the different benefits and drawbacks of each type of IRA, and we'll help you decide which is right for you. So if you're curious about IRA options, this video is for you! 👉🏼 Subscribe to my channel. 🔄 Subscription Link: ☛ Your Like, Comments, and Subscribe, Inspire me!!! ============================================= 🎬 CHECK OUT MY OTHER VIDEOS: ⬇️ 💠Term Vs Whole Life Insurance | Life Insurance Explained ✅ 💠How Tax Brackets Actually Work | Tax Brackets Explained ✅ 💠Ensure Your Wishes Are Carried Out: Why You Need a Living Trust ...

I personally like the concept of a Roth IRA, but I've noticed in recent years there has been a lot hype about the Roth IRA being 'one of the best' investment strategies you can make in your 20's. While I believe there is some truth to this statement, it is crucial for every person to do his/her own research before deciding on a type of IRA. I did cash out $1,700 from my Roth IRA (just to test how the process works) as stated in this video. Timestamps: 00:00 Introduction 00:51 What is an IRA 03:15 Cashing out before 59 1/2 06:15 Cashing out after 59 1/2 07:25 Which IRA should you pick 09:16 Do you absolutely need a Roth IRA right now References: 1. IRA Early Withdrawals: Penalties, Exceptions & Options: Fidelity, Fidelity Investments - Retirement Plans, Investing, Brokerage, Wealth Management, Financial Planning and Advice, Online Trading., Accessed: May 5, 2023 2. For Immediate Release Office of the Press Secretary, ://georgewbush-whitehouse.archives...

Roth IRA or Traditional IRA.....How do you choose the right one? #ira #rothira #investing In this video, I will be covering the differences between the Roth IRA, the traditional IRA, as well as the Rollover IRA. The biggest difference between a Roth IRA and a traditional IRA is how and when you get a tax break. Contributions to traditional IRAs are tax-deductible, but withdrawals in retirement are taxable. Contributions to Roth IRAs are not tax-deductible, but the withdrawals in retirement are tax-free. Thus most advice on the Roth IRA vs. traditional IRA topic begins with a question: Do you think your tax rate will be higher or lower in the future? If you can answer that question definitively, you can theoretically choose the type of IRA that will give you the biggest tax savings: If you expect to be in a higher tax bracket in retirement, choose a Roth IRA and its delayed tax benefit. If you expect lower rates in retirement, choose a traditional IRA and its upfront tax...

Traditional IRA is a retirement plan that many people should make use of if they do not have a retirement plan offered at their jobs/careers. Because of its name, and also its inner-workings, this plan is often confused with 401ks and IRA Roths. Even though the Traditional IRA share similarities between both the 401k and IRA Roths, there are clear differences between it and the others listed. In this video I am breaking down what a Traditional IRA is, how it can be used to generate wealth for retirement, and also how it can be used to save you money on taxes at the end of the year. Although the Traditional IRA is a good vehicle to use for deducting total funds in taxes, it can be difficult to do so if you or your spouse is already making use of a retirement plan offered at your/their job. If that is the case for you, then here is a link to take you a website that should help with calculations. For the rest of you guys an gals, saving money on your taxes will be simp...

Retiring Early | Roth vs. Traditional IRA - Best Investment For Financial Freedom. There are a lot of benefits to investing in IRAs, but Traditional IRAs and Roth IRAs have different benefits. In this video, I discuss the key distinctions between a Roth IRA and a Traditional IRA. I break down the fundamental differences, contribution limits, tax implications, withdrawal rules, the 5 percent rule, and other critical differences associated with these two retirement accounts... which one I think is the best to invest in for financial independence freedom, depending on your expectations of your financial situation at retirement! Whether you're a seasoned investor or just starting out, this video provides valuable insights and strategies to help you make informed choices and take control of your financial future! #rothira #traditionalira #financialindependence #financialfreedom #retirement #retire #personalfinances #retirementsavings #retirementaccount **Other Videos To C...

Open An IRA With TD Ameritrade 📈 Link to download all my Portfolio Trackers: 🌎 Follow me on Twitter: 🎥 Here is the camera I use for my videos: 🔶Get 50% off Seeking Alpha Premium with my Promo Link!!!🔶 In this video I will show you how to open an IRA in Td Ameritrade and go over the benefits of maxing out your annual contributions. An IRA is not only a great retirement account but also an amazing tool to help you LEGALLY avoid paying taxes or even boost your tax return during tax season. In my opinion (not financial advice) I think everyone should take advantage of an IRA if they are trying to invest for retirement or have surplus cash on hand. #IRA #TDAmeritrade #investmentretirmentaccount... ( 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 Opening an Individual retirement ...

Traditional vs Roth IRA: This video covers a complete guide on Traditional and Roth IRA's by explaining the similarities, differences, and which one would be better for you using a real world example. Enjoy! How To Become A Tax Free Millionaire | Roth IRA Investing ⏰ Timestamps ⏰ 00:00 Intro 00:18 Similarities 02:18 Differences 07:48 Which Is Better? 💻 My Website: 🔑 Discord Private Memberships: 🌐 Money Talk Hub: 📱 Follow Me Danny's Money Talk Twitter: 📕 Books I Recommend 📕 MONEY Master The Game by Tony Robbins: Macroeconomics by David A. Moss: Rich Dad Poor Dad by Robert T. Kiyosaki: The Intelligent Investor by Benjamin Graham: 🎞 How I Make My Videos 🎞 My Camera: Microphone: Lighting: Money Art: My Music: 📝 What is an IRA? An IRA is an individual retirement account which means both of these accounts discussed in this video contain some s...

Should a trust be named as beneficiary of an IRA? In this episode, Chris Berry answers the question: Should a trust be named as beneficiary of an IRA? ___________________________________________________________________________ Attorney and Financial Advisor Chris Berry of Castle Wealth Group answer questions on retirement and estate planning every Wednesday at 1pm. Register here or give our office a call at 844-885-4200. Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning , and tax planning from their Brighton, Ann Arbor, Livonia, Bloomfield Hills, and Novi offices. Castle Wealth Group helps families with their legal, financial, and tax planning for their retirement and legacy. With the use of legal structures like revocable living trusts, Castle Trusts (asset protection trusts), Chris Berry and Castle Wealth Group can help your family plan, protect, and preserve what is important through their Retirement and Lega...

Do you know which IRA account is right for you? Roth or Traditional? In this video, I will be discussing the differences between a Roth and Traditional IRA. These 2 different types of IRAs come with their own features and their own limitations. To pick which type of IRA to open can be complicated but don’t worry because I will show you everything you need to know about the 2 most common types of IRAs so you can know which account is right for you and your retirement. This video will teach you about contributions, taxes, and withdrawals in a Roth and Traditional IRA. DISCLAIMER: I am not a licensed financial advisor. The topics and ideas presented in this video is for educational and entertainment purposes only. This information should not be construed as financial advice. You should always do your own research.... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALE...

What is a Roth IRA vs a Traditional IRA? What are the differences between the two and which one is the best fit for your finances? Let's break down the two different types of IRAs (Individual retirement account ) to better understand what's going on. - IRA contribution limits - IRA withdrawal restrictions - Important ages to know for an IRA - Roth IRA vs Traditional IRA, which should you invest in? #rothira #traditionalira #retirement 🔥Join this channel to get awesome perks🔥 🔥Or support us on Patreon🔥 ☑️Love our content? Subscribe!☑️ ☑️Our website: Follow us: Facebook: Instagram: Twitter: DISCLOSURE: We are not financial advisers. The ideas presented in this video are for entertainment purposes only. Although the information is researched and vetted beforehand, it may not be up to date at the time of viewing. Please do your due diligence and research on the topic. You (and only you) are re...

Roth IRA vs Traditional IRA vs 401k - The 3 most popular retirement accounts are the 401k, Roth IRA and the Traditional IRA. In this video we'll compare the Roth IRA vs Traditional IRA vs 401k so you can decide which is the best retirement account for you. There are subtle but important differences between a Roth IRA and Traditional IRA. I explain what is a Roth IRA, what is a Traditional IRA and what is a 401k. I also explain the difference between a Roth IRA and Traditional IRA as well as the difference between an IRA and 401k. If you need to know what retirement accounts are best for beginners, or an investing 101 explanation of retirement planning choices, this video is for you. By the end of this video you'll know how a Roth IRA works, how a Traditional IRA works and how a 401k works. You'll also know the advantages of investing in a Roth IRA, Traditional IRA and 401k, and why you should have both an IRA and a 401k to plan for financial freedom in your ...