Timothy Sumer

What happens if you put to much in your Roth IRA or you become ineligible to contribute to your Roth IRA because your income was too high? This is not something you want to mess around with so it's really important that you keep track or have someone like jazzWealth help you. The IRS is very clear about the rules rgarding excess contributions to your Roth IRA and the max income you can have to contribute. Today Dustin will cover these topics with you.... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA If you contribute more money than the allotted limit to your Roth IRA, you have made what is known as an excess contribution. It's important to be aware of this mistake and take steps to address it to avoid potential tax penalties. First, let's define what an excess contribution is in a Roth IRA. For the year 2021, the contributi...

As new clients open accounts or transfer their IRA's to us they are asked who they would like to add as a beneficiary. While most of us understand exactly what this means, it does raise many other questions. We've saved up those questions and today, Dustin covers the top FAQ's when it comes to beneficiaries on your IRA's. If you have a Roth IRA or other IRA type then you can have a beneficiary or even many beneficiaries on your account. You can name a person or even a charity if you like. First there are primary beneficiaries. These are the first in line to get your IRA should you leave this earth. You can name as many as you like as long as you specify a total percentage that equals out to 100%. Next are back up beneficiaries in the event that your primary beneficiary has passed before you. This can also be anyone you like. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments and, usin...

There are many people calling and emailing jazz wealth these days and I have to say you all are very creative and dedicated to your retirement investments. The first question from people is, can I have a 401k at work and also a Roth IRA on the side? The answer is yes you can. Having a 401k at work and a Roth IRA with your own retirement investments are very complimentary. Having a Roth allows you more flexibility than a 401k, but of course if the 401k offers you a match then you have to start there. The next retirement investing question I get the most of is, can I have more than one Roth? Many times people open one and contribute the max amount. The next logical step is to open another Roth IRA and contribute to that one as well. While you can have multiple IRA's, you need to stay within the max contribution as a combined total. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments and, using Nest...

Is there an instance where you might have both a Roth IRA as well as a Traditional IRA? In many cases our clients actually end up with both. This is due to the old 401k's that they may have rolled over from previous employers that end up in their traditional IRA's. In this case we want to be sure to invest both accounts the same way. Both your rollovers into your IRA as well as your future contributions in your Roth IRA. This way the growth is the same and helps you get towards your retirement goals, but also you have some pre-tax as well as post tax money growing together. 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: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOU...

The 5 year rule on a Roth IRA always trips people up. In reality you can take any of your contributions out at anytime without penalty. If you plan to take out growth early then you are subject to the penalty. The 5 year rul 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: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA When it comes to retirement planning , the Roth IRA is a popular choice for many individuals. It offers tax-deferred growth and tax-free withdrawals in retirement, which can be a great way to save for the future. Ho...