Timothy Sumer

In today’s video we are discussing why having a Roth IRA is an absolute must, especially if you have just lost your job. How the Latest Jobs Report Affects YOU [Must WATCH]: I Lost My Job. Can I Draw from My Retirement without Penalty: ✅ SUBSCRIBE to NOT being a transaction ever again... ✅ Like us on Facebook! ✅ Follow us on Twitter! ✅ Check out our site for more tips If you have lost your job, got laid off, or just decided to quit, you may need to tap into your retirement funds. If so, your go-to source for funds should be your Roth IRA first! (If you don’t have one, they are easy to open – Almost anyone can open one if you have earned income.) Here’s why: You will pay NO penalty on withdrawals of your contributions at any time. You will pay NO taxes on withdrawals of your contributions at any time. Contributions withdrawn do not count as income towards Unemployment benefits! This is HUGE!!! Roth IRA’s have better terms for early withdrawals than a traditional IR

A Roth IRA offers several tax advantages when you start withdrawing your retirement savings. It's why many people planning for retirement might benefit from a Roth conversion. This is the transfer of funds from a traditional IRA to a Roth IRA. But there are rules. For example, Roth IRAs have income limits. Fortunately, a backdoor Roth IRA is a type of conversion that allows people with high incomes to fund a Roth despite those IRS income limits. This video provides insight on how Roth conversions and backdoor Roth contributions work to help people determine if these strategies make sense for their retirement plan. Subscribe to @Under the Buttonwood Tree here: To learn more about financial planning and retirement, visit: Contact us about your portfolio or financial plan here: Facebook: Twitter: LinkedIn: #rothconversion #backdoorroth #rothira... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVE