Timothy Sumer

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Showing posts with the label korhorn

Is There an Age Limit for Funding an IRA or Roth IRA?

Are there age limits for who can fund an IRA or a Roth IRA? Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.... ( read more )

2 Problems With The Backdoor Roth and How to Avoid Them

The Backdoor Roth strategy can be a fantastic tool for your retirement. However, there are 2 problems with the Backdoor Roth that you need to be aware of. Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at LINKS: Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market.

Rethink Naming a Trust as Your IRA Beneficiary

The 10-year rule now nullifies the strategy of naming a trust as your IRA beneficiary if you have young children. Here is why you should rethink this option. Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past

RMD or 10 Year Rule on Inheriting an Inherited IRA?

The SECURE Act allows those who inherited IRAs prior to 2020 to continue using the stretch IRA option, those who inherit an inherited IRA must use the 10-year rule. Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at LINKS: Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declini

Do These 5 Things if You Plan to Retire in 2023

What should you do with your finances if you are planning to retire in 2023? We're talking through the 5 items you need to focus on today to reach that goal during this episode of the Wise Money Show. Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through

What to Do With Your 401k at Your Old Job - The Great Resignation

Lots of people are leaving the workforce or changing jobs, a phenomenon called the Great Resignation. With the Great Resignation there is the great decision - what do you do with your 401(k) at your old job? What are your options and what is the wise decision to make with these dollars? We'll help you answer that on this episode of Wise Money. Season 7 Episode 20 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Twitter - Instagram - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn

Should You Stop 401k Contributions in Bear Markets?

Should you stop making 401k contributions during a bear market? Here is what the data says. Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at LINKS: Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of

Mega Backdoor Roth Could Be a Mega Disappointment

Congress is at it again, this time aiming to prohibit the Mega Backdoor Roth IRA. The new proposed legislation from the Democrats would end the mega-backdoor Roth by prohibiting all after-tax contributions in work plans for everyone, regardless of income level. Article: Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Twitter - Instagram - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of prin

Should I Take a Loan From My 401k When Buying a Home?

The thought of that much interest going to a mortgage company, why not take a 401(k) loan to buy the house…then the interest you’ll be paying to yourself instead of to a bank. Sounds enticing right? Well, it may not be something you want to do. Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal

3 Ways the HSA Is Better Than the Roth IRA

The HSA is still beginning to be thought of as a retirement tool, but you should think about it that way. Here are 3 ways the HSA is better than the Roth IRA. Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a

Set Your Beneficiaries If You Auto-Enrolled In Your 401k

Auto-enrolling in your 401(k) can help you get started in the habit of saving. However, one of the biggest drawbacks with auto-enrollment is missing beneficiaries. Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market.

Can You Take All Your RMD From One Account?

Do you need to take a Required Minimum Distribution (RMD) from each of your retirement accounts or can you take it all from one? Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at LINKS: Be sure to stay up to date by following us! Facebook - Twitter - Instagram - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a

Roth IRA Income Limits | Can You Make Too Much Money to Contribute?

There is an income limit when funding a Roth IRA. But be aware, this is your AGI, not just your earnings. What should you do if you contributed when you weren't supposed to and what other investing tools can you use instead? Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Twitter - Instagram - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversificatio

Retirement Contribution Limits for 2023

2023 retirement contribution limits have been announced and it's the biggest 401(k) contribution increase ever on record! Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at LINKS: Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past