Timothy Sumer

Taxes on Brokerage Account - Have you ever wondered about a brokerage account taxes and had questions about your taxable brokerage account? If you have a brokerage account and asked what are the tax benefits from a brokerage account, you would benefit from Understanding Your Options. Having Tax Strategies can be a part of retirement planning . Most have a goal of retiring comfortably and if you secure your retirement this video is a must watch. #TaxesonBrokerageAccount #Retirementplanning #Secureyourretirement To get more retirement tips visit www.POMwealth.net/blog and register for the free online Master Class - 3 Keys To Secure Your Retirement Listen to our podcast "Secure Your Retirement" 🔴 Subscribe for more content on YouTube: 😀 Say hi on social: Facebook: Instagram: LinkedIn: ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Acc...

We have numerous videos on this channel about the income limits for contributiing to a Roth IRa. See if you make too much you are phased out from contributing to a Roth IRA. This "phase out" number can vary based on how you file your income taxes but if you make too much then you can no longer contribute to a Roth IRA. Well let's talk about the other side of things. What happens if you have a low income due to time off work, or maybe you are a student. Well first of all you must have earned income to contribute to a Roth IRA. The next rule is that you must have enough earned income to cover your contribution amounts. So for example if you only earned $4,000 for a given year then the most you can contribute to a Roth IRA would be $4000. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments and, using NestEgg we can help you with every penny! ---Ready to subscribe--- For more information v...

#retirement #wealth #tax Consolidating retirement accounts can be time consuming and you may not know where to start, especially if you have worked for multiple employers over your lifetime and have investments across multiple accounts. Chris Heerlein of REAP Financial is here to discuss how to combine your 401k and IRA accounts and the top reasons why retirees are consolidating. 401ks carry the bulk of most family's retirement investments. As you are getting closer to retirement, you may want better oversight and also the opportunity to diversify some of your assets, whether that's physical investments, CDs, etc.  To learn more about combining retirement accounts and retirement strategies, contact our Austin financial planners at  Lastly, don't forget to email us at retire@reapfinancial.com to receive our latest report, ""Tax Bucket Report"".... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflati...

#tax #finance #wealth Many families have the bulk of their wealth to IRAs and 401ks. Some or a great deal of this money you may have planned to give as inheritance to your heirs or family members. Have you taken into consideration the Secure Act and 10 year IRA rule when setting up these accounts? When you leave money to heirs in a tax deferred account, the assets are now required to be completely taken out in 10 years. Do you and your heirs have a plan of how to withdraw this wealth and a strategy in place to keep as much in in their pockets and less with Uncle Sam?  Coordinating the timing and having a strategy is very important. Chris Heerlein of REAP Financial out of Austin, Texas is here discussing strategies on how to prepare your wealth for your heirs. To learn more about inheritance strategies given the Secure Act and 10 Year IRA Rule, contact our Austin financial planners at  Get your hands on our Tax Bucket Report by emailing retire@reapfinancial.com and we'll...

Withdrawal Strategies in Retirement - In this video, we'll be discussing Withdrawal Strategies in Retirement, which is a crucial aspect of retirement planning . Retirement is a time where you'll need to rely on your retirement income to support yourself. Therefore, it's important to have a solid retirement withdrawal strategy in place to ensure that you can retire comfortably and securely. We'll be covering a variety of topics related to retirement withdrawal strategies, including retirement investing, tax efficient withdrawal strategies, retirement income strategies, and more. Whether you're planning retirement at 50, 55, or 60, this video will provide valuable insights and tips to help you plan for retirement. In addition, we'll also be sharing a retirement checklist to help you ensure that you've covered all the bases when it comes to planning for retirement. We understand that retirement planning can be overwhelming, but we're here to help...

What is a reverse rollover, and why might you roll an IRA into a 401(k) or 403(b) account? The term refers to moving money in a way that’s different from what happens most frequently. At some point, people often move money out of their workplace retirement plans—and into an IRA that they control. There are pros and cons of doing that, and of course, you want to review your options carefully before making any moves. 🌞 Subscribe to this channel (it's free): But there may be good reasons for moving money in the opposite direction: From an IRA to your 401(k) or similar plan. When you do that, you can potentially eliminate pre-tax IRA balances, which could help you manage RMDs (by postponing them, at least) or do backdoor Roth conversions. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments There may be other reasons for reverse rollovers, as well. For instance, maybe you’re going to leav...

United States Retirement Planning Guide 2022: How to Plan Out Your Financial Success? IRA, 401K Savings & Taxes #retirementplaningguide2022 #financialsuccess #401k Hello, Welcome to Being Successful. Retirement planning is simply choosing financial strategies that will enable you to be comfortable and secure in your retirement years. A good retirement plan , executed smartly, can provide you with enough money to cover all of your later-year living expenses. Let's explore the importance of retirement planning and examine the steps you need to take to prepare for your golden years. In this Video you will get the answer to all your questions related to U.S. Retirement Planning: 00:00 US Retirement Introduction 00:36 Why should you plan for Retirement? 2:00 How to save and invest for retirement? 3:00 What are the types of Retirement Plans ? 06:00 What are the Tax Advantages in Retirement? How does retirement work in USA? How much is the pension in the USA? What is the...

I am ready to establish a 401(k) plan but need to know who plays what role. In a 401(k) plan today the recordkeeper could be the same or different from the entity hired to do the administration and compliance of the plan. Third Party Administrators ( TPA) are often used for annual administration and compliance as well as for plan design and review, but they too could be performing recordkeeping functions. As with everything related to vehicles that allow for tax deference, the specific duties of all of these players in the defined contribution and 401(k) plan space are ever changing. Learn more about these entities and their roles in plan establishment and ongoing operation in the 401(k) market specifically. Your client already has a qualified retirement plan but it was been put on the set-it and forget-itmerry-go-round. The cost of the plan, the investment returns and the service model are the three most important items your client will take into consideration during t...