Timothy Sumer

IRA investment possibilities are nearly endless – in fact, the IRS lists only a few investments that are NOT permitted in a retirement account . Equity Trust's National Education Specialist, John Bowens, breaks down prohibited transactions, what you can invest in, and what you can't invest in with your retirement account . Individuals can choose to use their retirement accounts to invest in alternative assets such as fix and flips, rental properties, privately-owned companies, cryptocurrency, and more... but find out what you are not permitted to invest in with a self-directed IRA, self-directed Roth IRA, or other tax-advantaged account. Download Your Free Guide to 7 Alternatives Outperforming the Stock Market: Equity Trust Company is a directed custodian and does not provide tax, legal or investment advice. Any information communicated by Equity Trust is for educational purposes only, and should not be construed as tax, legal or investment advice. Whenever makin...

Discover how IRA's differ from 401ks in this episode of JB Answers! Have a question? Comment it below with #AskETC #youtube #youtubeshorts #realestateinvesting #IRA #401k #401kplan #education #investing #fyp... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing What's the Difference between an IRA and 401(k)? When it comes to retirement planning, two common investment options that often grab people's attention are Individual Retirement Accounts (IRAs) and 401(k) plans. While both serve the same purpose of providing a means to save for retirement, they differ in terms of eligibility, contribution limits, and employer involvement. An IRA is an investment account established by an individual to save for retirement. It can be opened through financial institutions, such as banks, brokerage firms, or credit unions. An IRA ...

What is the difference between a Spouse Beneficiary and a Non-Spouse Beneficiary? What should you expect if you inherited an IRA after 2020? What factors should you consider when deciding on a beneficiary prior to the Secure Act 2.0? In this video, John Bowens, Director, Head of Education and Investor Success at Equity Trust Company, explains the ins and outs of Beneficiary IRAs, also known as Inherited IRAs. Can you Self-Direct your Beneficiary IRA/Inherited IRA? The answer is yes! Download our guide to Self-Directed IRA Rules and Regulations: Timestamps 0:00 Intro 0:49 What is a Beneficiary IRA/Inherited IRA? 1:23 What are the three classifications of beneficiaries to retirement plans? 2:11 Spouse Beneficiary vs. Non-Spouse Beneficiary 7:29 What is a Non-Designated Beneficiary? 8:20 What to know if you inherited an IRA prior to 2020 11:00 Inherited IRA rules after the Secure Act 13:28 What is an eligible designated beneficiary? 15:36 H...

Access the Ultimate Guide to the Self-Directed Solo 401(k): Free guide reveals: - How you could possibly deduct $57,000 or more from your next tax bill - How to boost your buying power on your real estate or other investments - The unique qualifications for a solo 401(k) - A simple way to determine if you’re eligible for the account Solo 401(k)s, also known as Individual 401(k)s, give small business owners the power to invest more, deduct more, and save more. John Bowens walks through some of the attractive characters of a Solo 401(k) and why this is potentially a beneficial account type for people interested in investing in alternatives such as real estate, tax liens, joint ventures, and more. Although a Solo 401(k) can be an advantageous account, it may not be better than a Self-Directed IRA for some investors. John Bowens explains the differences between a Solo 401(k) and Self-Directed IRA to help investors determine which account may be best for them. Visit T...

In this video, John Bowens, Equity Trust's National Education Specialist, answers the commonly asked question, "How do you move money from another retirement account into a self-directed IRA?" in regards to a variety of employer-sponsored and non-employer-sponsored retirement account funds that you may be wanting to transfer to your self-directed IRA. Start a conversation with an IRA Counselor to learn more: Equity Trust Company is a directed custodian and does not provide tax, legal or investment advice. Any information communicated by Equity Trust Company is for educational purposes only, and should not be construed as tax, legal or investment advice. Whenever making an investment decision, please consult with your tax attorney or financial professional.... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Inv...

In this video, John Bowens explains how to make a backdoor Roth IRA contribution and what factors into how much you can contribute and what is taxable. Start a conversation with an IRA Counselor to discover which account may be best for you: A backdoor Roth IRA contribution is an industry term that refers to a contribution to a traditional IRA that you immediately convert over to a Roth IRA. Modified adjusted gross income (MAGI) is adjusted gross income with certain exclusions added. Your MAGI will determine whether you can contribute directly to your Roth IRA or if you will need to make a backdoor contribution. Income restrictions will depend on if you file taxes as single, married filing jointly, or married filing separately. If you are a single filer: - MAGI below $129,000 means you can make a full contribution to your Roth IRA - MAGI between $129,000 and $144,000 means you can make a partial contribution - MAGI above $144,000 means you cannot make a contribution If...