Timothy Sumer

Today on Your Money, Your Wealth® podcast 397, a compilation of some of the retirement plan spitballing from Joe Anderson, CFP®, and Big Al Clopine, CPA specifically for those in their 40s and 50s - a critical time on the path to retirement. Is your financial plan set up so you pay as little tax as possible? Does it take volatile markets and potential future tax increases into account? Have you got a strategy nailed down for Roth conversions, or backdoor Roth, or pension options? Maybe you’re making big decisions about what to do with your money between now and when you retire, like buying a house vs. saving for retirement? Are you comfortable with the retirement lifestyle you’re creating? Do you know what you’ll do with your time once you’re permanently off the clock? Visit the podcast show notes to access free financial resources and transcript, and to Ask Joe & Big Al On Air: 00:00 - Intro 01:13 - Should I Get a Roth IRA Even Though I'm Highly Taxed? (Laura, Los...

Should I Convert My IRA To A Roth IRA? #shorts #retirement #retirementplanning Full Video: Should I Convert My IRA to A Roth IRA (Part 1) Who Should Convert IRA to Roth IRA In this 3 part video blog I want to begin by discussing: Who should convert their IRA to a Roth IRA. I am asked quite often, "Should I Convert my IRA to a Roth IRA," and to be honest the answer is, "It depends." Everyone's retirement and financial picture is different. Whether you should convert your IRA to a Roth IRA is not the same as your neighbor. So, let's dive into 3 individuals that I believe should convert their IRA or a Roth IRA and I hope this helps you on your retirement journey! 1. Low Income tax Bracket If you are in a low income tax bracket, you are a prime candidate for converting your IRA to a Roth IRA. Why do I say that. Well, when you convert IRA Retirement savings to Roth IRA tax free retirement savings, you have to pay tax on the conversion in the yea...

retirement planning at 66. Troy Sharpe, CFP®, takes a look at someone retiring with $800,000, runs it through an advanced simulation to see the probability of making it through retirement with money. In this episode, Troy looks at 1,000 different scenarios looking at the probability of successfully retiring without running out of money, given the current economic situation. The analysis is part of what we at Oak Harvest call a Oak Harvest Retirement plan, a customized solution aimed squarely at your retirement needs. Oak Harvest retirement planning Process Instead of trying to fit you into a box, Oak Harvest builds the box around you. So, no two plans are exactly alike. We tailor investments, income, tax-reduction, safety, long-term care and legacy solutions around your retirement vision and goals. It starts with a discussion about your retirement vision. A retirement vision is the most critical element of a Oak Harvest Retirement plan because it allows us to clea...

Troy Sharpe, CFP®, recently read an article online where a 58-year-old man with $1.4 million saved up asked if he had enough to retire. He had $700,000 in a 401(k) account and $700,000 in a non-qualified account. In this episode, Troy looks at 1,000 different scenarios looking at the probability of successfully retiring without running out of money, given the current economic situation. #dontrunoutofmoney #successfulretirement #enoughtoretire The analysis is part of what we at Oak Harvest call a Oak Harvest Retirement plan, a customized solution aimed squarely at your retirement needs. Oak Harvest Retirement Plan Instead of trying to fit you into a box, Oak Harvest builds the box around you. So, no two plans are exactly alike. We tailor investments, income, tax-reduction, safety, long-term care and legacy solutions around your retirement vision and goals. It starts with a discussion about your retirement vision. A retirement vision is the most critical element of a Oak H...

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...

Should I Convert My IRA to A Roth IRA (Part 1) Who Should Convert IRA to Roth IRA In this 3 part video blog I want to begin by discussing: Who should convert their IRA to a Roth IRA. I am asked quite often, "Should I Convert my IRA to a Roth IRA," and to be honest the answer is, "It depends." Everyone's retirement and financial picture is different. Whether you should convert your IRA to a Roth IRA is not the same as your neighbor. So, let's dive into 3 individuals that I believe should convert their IRA or a Roth IRA and I hope this helps you on your retirement journey! 1. Low Income tax Bracket If you are in a low income tax bracket, you are a prime candidate for converting your IRA to a Roth IRA. Why do I say that. Well, when you convert IRA Retirement savings to Roth IRA tax free retirement savings, you have to pay tax on the conversion in the year you complete the Roth IRA conversion. For example, if you convert $5,000 from IRA to Roth IRA...

Solo 401k plus side hustle in Market Crash 2022. Watch the full Market CRASHING 5 tips Investing for Beginners ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you. TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP® CE...

Roth & IRA's Explained ( Individual Retirement Accounts ) | Roth IRA index funds. What is an IRA? An individual retirement account (IRA) is a tax-deferred investment account that helps you save for retirement. There are four popular types of IRAs — traditional, Roth, SEP and SIMPLE — and all offer tax benefits that reward you for saving. You can open an IRA at banks, robo-advisors and brokers, and your contributions may be tax-deductible, or withdrawals may be tax-free. Some people might hear IRA and think Irish Republican Army, that's not what we're talking about here. We're describing the retirement accounts the IRS officially calls individual retirement arrangements. How do IRAs work? Investing in an IRA allows your money to grow and compound, says certified financial planner Matt Aaron, founder of Washington, D.C.-based Lux Wealth Planning, an affiliate of Northwestern Mutual. You can invest in stocks, bonds and other assets. How your account balance...