Timothy Sumer

Roth IRA Explained || A Simple Explanation of the Roth IRA || What Is A Roth IRA What is a Roth IRA? A Roth IRA is a special IRA where you pay taxes on the dollars you invest for retirement but all future retirement withdrawal's for retirement income are tax free. Benefits to a Roth IRA are no required minimum distributions and tax free inheritance to anyone who inherits your Roth IRA. A Roth IRA has income limits and contribution limits. The Roth IRA income limit doesn't allow individuals or families to contribute to a Roth IRA. If their modified adjusted gross income is over a certain limit. In the same way, Roth IRA contribution limits only allow those individuals who qualify to contribute a certain amount of retirement dollars on a yearly basis. All contributions to a Roth IRA must follow a five-year rule before withdrawing any earnings from your Roth IRA. Inside of a Roth IRA, or a variety of investment options. You can invest in mutual funds, stocks,

Hello everybody, Welcome back to part 3 of 3 of our social security series. In this part, I am going to describe how to retire 100% tax free. I will also explain how to maximize income from social security. Now the good stuff, here we show you how to retire 100% tax free, you do not want to miss this one. Watch the full video and stay connected to get all the updates. Thanks ⌚Video Duration: 12:17 🎬Hope the video was enjoyable to you. ⇉If you enjoy this video, Please like and share it. ⇉ Don't forget to subscribe to this channel & press the bell 🔔 for more updates. ⇉ Subscribe this channel to stay connected with Everything They Never Told You. ❗ Express your feelings and opinion in the comment section. ....................................................................................................................................... ................................................................................................................................

Here is a common mistake that is made by many and it is 100% avoidable. Please don't make this mistake with your retirement! For more information about our firm, please contact us at: (770) 683-3608 | msmith@wcfingroup.com, or by web at: www.wcfingroup.com... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA As 2021 draws to a close, many Americans are considering rolling over their individual retirement accounts (IRAs) into different investment options. However, before you rush into making any moves with your IRA, you need to be aware of the potential tax implications. The "New Years IRA Rollover Tax Trap" occurs when an investor moves their IRA funds into another investment option without properly following Internal Revenue Service (IRS) rules, leading to a large tax bill in the upcoming tax season. This can happen if you withd

Average 401k Balance By Age 2022: Vanguard Retirement Survey Full Retirement & 401k Article Here: This video is showcasing average 401k balances and median 401k balances in retirement accounts with Vanguard retirement services. All of this information comes from Vanguard 401k retirement survey that was conducted in 2021. This is both the average and the median of these 401k retirement accounts. Keep in mind the average 401k retirement account size will be skewed because of the large 401k retirement accounts at the top and the small 401k retirement investing accounts at the bottom. The median 401k balance is what we are going to focus on in this retirement video. Median 401k retirement investing account values gives us the figure that is right in the middle and is a better indicator for 401k retirement savings. What this 401k retirement survey showed which was surprising is that 3 in 10 401k participants have 401k balances below $10,000. It also showed that 3 in

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 visit: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Investment related questions 📧 Dustin@JazzWealth.com Business Affairs 📧Carolyn@JazzWealth.com... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA When it comes to retirement planning , a Roth IRA can be a popular choice for many individuals. However, it's not always the best option for everyone. Here are four reasons why a Roth IRA may not be the best choice for you: 1. You need tax deductions now One of the key advantages of a traditional IRA is that it allows you to claim tax deductions on your contributions. This means that

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

There are a lot of legalities and rules that are hard to find or understand untill you actually retire.... ( 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 Are you taking advantage of your 401k and pension benefits? Before you sign up, it’s important to understand the fine print. Here’s what you need to know. First, read the fine print on your 401k and pension plans. Make sure you understand the vesting schedule, contribution limits, and other details. You should also know how withdrawals and distributions will affect your taxes. Second, understand the fees associated with your 401k and pension plans. Some plans may charge administrative fees, investment fees, or other costs. Be sure to ask your plan administrator about any fees and how they will affect your returns. Third, understand the investment options available to you. Ma

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 ABOUT: IRA Acc

Spousal IRA is a strategy you can use when you have a single income household but file taxes jointly. It allows you to put money in an ira for the non-working spouse without the earned income requirement. The irs will allow you deduct the contribution, giving you a tax advantage. #fyp #foryoupage #moneytalks #retirement #ira #financialfreedom #financialliteracy #retirement #wealth... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA retirement planning is a vital part of financial planning and a Spousal IRA is one of the best options for couples to save for retirement. A Spousal IRA is an individual retirement account that allows married couples to save for retirement together. The account is held in the name of one spouse, but both spouses can contribute to the account. A Spousal IRA is a great way for couples to save for retirem

Spousal IRA is a strategy you can use when you have a single income household but file taxes jointly. It allows you to put money in an ira for the non-working spouse without the earned income requirement. The irs will allow you deduct the contribution, giving you a tax advantage. #moneytalks #retirement #ira #financialfreedom #financialliteracy #retirement #wealth... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA A Spousal IRA is an individual retirement account (IRA) that allows married couples to save for retirement. It is an important tool for couples who want to maximize their retirement savings and take advantage of tax benefits. A Spousal IRA is an individual retirement account that is owned by one spouse, but the contributions are made by the other spouse. The contributions are made with after-tax dollars and the accoun

I make too much money to contribute to a Roth IRA. Is there something I can do to be eligible to contribute? Roth IRAs have a maximum income limit where you become ineligible to contribute. Brian Leitner sits down with Andreas Scott, managing director & senior wealth advisor at Mariner Wealth Advisors, to discuss strategies to contribute to a 401(k) even if you are over the max household income limit. Brian and Andreas highlight potential concerns with backdoor Roth IRAs, as well as when is the best time to start the process of contributing based on the calendar year. 0:00 Intro 0:20 Strategies to Become Eligible 1:02 Backdoor Roth IRA Process 1:50 Potential Concerns 2:48 Legislation 3:32 More Information 4:25 Outro #RothIRA #RothIRAcontributions #retirement For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Spotify - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instag

What if your 401k, IRA, index fund wasn't what you thought it was? Would you be open to looking at it from another perspective?The best way to start is learning what MPI is and what it can do for you. My LinkTree has free resources (books, videos and MPI Calculator) and my calendar. I'm a Certified MPI Advisor. I'd recommend scheduling a call and watching the MPI Video Series in the meantime. LINK IN BIO for free resources. Let's connect. MPI With Dom LinkTree - Get your free copy of the best-selling book, "Every Ends Up Poor!" by Curtis Ray - Book an MPI Strategy Call - Run your numbers on the MPI Calculator - Full MPI Video Series - Get your free copy of the best-selling book, "The Lost Science of Compound Interest." by Curtis Ray - #4PercentRule #MPI #TaxFree #Money #BankOnYourself #Wealth #Stocks #RetirementPlanning #Retire #RetireEarly #Investment #Investing #Finance #FinancialEducation #Entrepreneur #FinancialFreedom #Lif

Part 2 of the latest changes to Superannuation. Our SMSF guru Matt Richardson discusses the latest changes to transition to retirement pensions. Please Like the video, subscribe & share Green Taylor Partner, Horsham Victoria, Ph.: 03 5382 4761 Follow us on Facebook: Follow us on Twitter: ... ( read more ) LEARN MORE ABOUT: Retirement Pension Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The transition to retirement pensions is a process that many workers will go through as they approach retirement age. It is important to understand the changes that are happening and the implications that they have for your retirement savings. The transition to retirement pensions is a process that allows individuals to access their superannuation funds prior to retirement age. This allows individuals to reduce their working hours and supplement their income with their

The "Paradise Retirement Plan" at Orchid Bay Belize, Legacy Global Development's flagship property in Northern Belize, narrated by Chris Williams, the CEO of Legacy Global Development. Have you ever dreamed of retiring in paradise? … We’ve got a way to make that dream a reality. Allow us to introduce you to the Orchid Bay Paradise Retirement Plan: Step 1 – Find your home. Most retirees buy a home at Orchid Bay several years before retiring. Step 2 – Put your home in our optional Rental Program. Rental income can offset the cost of ownership for your home until you retire. Step 3 – Enjoy part-time or full-time residence at Orchid Bay, after retiring. If you see yourself living here throughout most of the year, you could be eligible for Belize’s attractive Qualified Retirement Program. Step 4 – love your life. Speak to a Legacy Advisor for more information… and be sure to ask about our 3-year Rental Guarantee. Subscribe: Learn More: Website: Blog:

Are Roth IRA Distributions Taxed? How To Avoid Penalties and Taxes on Roth IRA Distributions Can your Roth IRA become taxable? Are distributions from your Roth IRA taxed? If you don't follow two very specific rules, you could incur taxes and penalties on your Roth IRA distribution. That is what we are going to discuss in this weeks, Your Financial EKG™ blog. Roth IRA's are supposed to be completely tax free. "SUPPOSED TO BE" is the key statement in that sentence. Roth IRA's can become taxable and penalized if you don't follow two specific rules. Those rules are the "5 Year Rule" and the "Under 59.5" Rule. Let's dive into both: Roth IRA 5 Year Rule: The 5 Year rule says that you must wait 5 years before taking earnings out of your Roth IRA after your first contribution or conversion. You must also be over the age 59.5 to avoid penalties. SO, in plain english: to take investment earnings out of your Roth IRA without owing t

How To Increase Your Retirement Income || Live Retirement Income Strategies In this livestream I want to talk about creating retirement income and how you can increase your retirement income with these retirement income strategies. When you are doing your retirement planning and calculating out retirement income needed, looking at these three retirement income strategies will help you with your retirement planning . So what are three ways that you can increase your retirement income? 1. Maximize your Social Security benefits This is the simplest way to increase your retirement income. Social Security benefits in claiming Social Security is one of the biggest decisions in your retirement. Why do you take Social Security at 62, 67, or 70 is determined by your individual retirement plan. This needs to be a decision that is carefully thought out and planned out in your retirement income strategy. 2. Catch-up contributions If you're over the age of 50 an

IRA & 401k Average Retirement Savings || Fidelity, Vanguard, & Schwab In this Livestream, we are going to look at the average retirement savings for 401k & IRA's from Fidelity, Vanguard, & Schwab. This retirement savings data comes from the newly released retirement survey from Vanguard & Fidelity for 2022. We are also going to discuss ways you can save more for retirement and steps you can take today to increase your retirement savings. Full Retirement & 401k Article Here: This video is showcasing average 401k balances and median 401k balances in retirement accounts with Vanguard retirement services & Fidelity Investments. All of this information comes from Vanguard 401k retirement survey & Fidelity Q3 IRA & 401k account balances. This is both the average and the median of these 401k retirement accounts. Keep in mind the average 401k retirement account size will be skewed because of the large 401k retir