Timothy Sumer

TAXES amirite? A wise man once said, in this world nothing is certain but death and taxes. Well, I have some exciting news! I plan to use my Roth IRA account to become a tax free millionaire by the time I retire (and so can you)! A Roth IRA is an Individual retirement account where the IRS allows you to contribute up to $6000/per year of after tax money or if you're 50 years old or older, $7000 per year. Pros of a Roth IRA: - It's a personal account, not tied to your workplace, anyone with income can open one - What make's this type of account special is money grows in this account TAX FREE - Traditional 401k and IRA earnings are taxed as personal income when investment earnings are withdrawn which can be as high as 37% per the current tax rates - You can access contributions any time, unlike a traditional 401k or traditional IRA that would penalize your for making withdrawals before 59 1/2 years old Cons: - Any earnings (interest) cannot be withdraw...

Top 3 Tips To Combat Rising Inflation To Protect Your Family Feeling stifled by rising prices? It seems as though the word inflation is used in almost every newscast or serious conversation about our national economy these days. However, inflation is one of those economic terms that is often misused and misunderstood. So, what is inflation and how does it impact personal and family finances? If you're worried about inflation and how your family might be affected, it can seem like you're helpless. You do have some control over how inflation affects your family finances. Watch till the end of this video to know more about how inflation works and concrete tactics you can use to lessen the impact of inflation on your household. Top 3 Tips To Combat Rising Inflation To Protect Your Family Welcome to Save Money Tricks. On this channel we explore different ways to save money and pay off debt. We will dive into the best money saving hacks and how you can save mone...

In this video i'm going to show you a very simple yet effective investments for the best vanguard funds for beginners some simple rules to follow, and exactly what to invest in if you're just getting started and want your retirement investing on autopilot. 0:00 Intro 1:04 Is investing complicated? 1:45 3 Simple Investing Rules To Follow 3:05 Breakdown of Fund Groups 3:12 Set & Forget Funds (The Easiest Way to Invest) 4:08 First Target Date Retirement Fund 4:27 Second Target Date Retirement Fund 4:44 Third Target Date Retirement Fund 5:18 Best Funds & Portfolio Balance 6:05 Vanguard's Best Fund 6:29 Best Vanguard Fund for International Stocks 6:52 Vanguard's best Conservative Fund 7:09 Reviewing the 3 Simple Rules 7:29 How To Balance Your Portfolio 7:54 A Rule of Thumb to Consider 8:05 The Balance of a Risky Portfolio 8:22 Vanguard's Suggested Balance 9:00 Pros of the Vanguard Index Funds 9:12 Cons of the Vanguard Index Funds 9:16 Pros of Target Da...

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