Timothy Sumer

Strategies to increase Social Security payments in retirement. Personalized Social Security Strategy Analysis and Report: Free Online Resources: ... ( 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 When Social Security Isn't Enough In today's fast-paced world, retirement planning has become more important than ever. While Social Security was designed to provide financial support to retirees, many individuals are finding that it simply isn't enough to cover all their expenses. As a result, it is crucial for individuals to take proactive steps to ensure a comfortable retirement. Social Security is a government program that provides income to retired individuals, disabled workers, and the surviving spouses and children of deceased workers. While the program has been successful in reducing poverty rates among the elderly,...

This video discusses what to do if you have no money for retirement and it's almost time. The average person has less than $10,000 saved for retirement according to the Federal Reserve Board's Survey of Consumer Finance. So while you are not alone, that does not solve the problem. This video outlines the critical next steps you need to do RIGHT NOW if you are retiring with no money. FREE Retirement Ready Checklist: Holy Schmidt Book Club: Important Links: Follow Me on Instagram: Geoff's Facebook Page Federal Reserve Board Survey of Consumer Finances: Social Security Administration Application for Benefits Current Social Security Cost of Living Adjustment Social Security Payment Estimator THE CHANNEL’S MOST POPULAR VIDEOS Should You Take Social Security at Age 62 and Invest it? 7 GOOD REASONS to File for Social Security Benefits at Age 62 Average Retirement Savings by Age 60. Are You Almost Ready to Retire?!? The BEST AGE to File for So...

Are you aged 63 with no retirement savings and planning to rely on Social Security? It is not too late to start saving. 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...

States that don't tax your pension or Social Security: Simply take all the states wiht no state income tax and then add Alabama, Illinois, Mississippi and Pennsylvania. Yes, you heard that right, Illinois is one of the few states that leave your pension AND Social Security alone! Oh, don't get me wrong, they make up for it in other ways but in terms of income from retirement accounts Illinois is going to be hard to beat. ================================= GET ALL MY LATEST BLOGPOSTS: If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the vide to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: Contact me: Josh@heritagewealthplanning.com GET MY BOOKS: Both are FREE to Kindle Unlimited Subscribers! The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It Strategic Money Plan...

#shorts #shortsvideo #RetirementPlanning #EarlyRetirement #MaximizeContributions #RetirementAccounts #RothIRAs #401kMatching #FinancialIndependence #RetirementPlanningTechniques Prepare for a secure retirement and explore early retirement strategies in this informative YouTube short. Discover how to maximize contributions to retirement accounts, including the benefits of options like Roth IRAs and 401(k) matching. Gain insights into effective retirement planning techniques and strategies that can help you achieve financial independence sooner. Take charge of your future and embark on a path towards a fulfilling and early retirement. Keywords: retirement planning , early retirement strategies, maximize contributions, retirement accounts, Roth IRAs, 401(k) matching, financial independence, retirement planning techniques.... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account R...

Gone are the days when workers could count on an employee pension plan and social security to cover their living and health costs during retirement. Today, pensions are a rarity and Social Security isn’t a slam-dunk for future generations. This is why it is wise that you prepare for retirement before you get to those golden years. In this video Apollo discusses the best tax-free retirement accounts that will help build and protect your wealth. This is a snippet video, however, we recommend that we watch it until the end, so you don’t miss anything. The full video can be viewed as part of our streaming service. Join today and get your 7-day free trial, while the offer is available. ... ( 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 you plan for retirement, you need to consider various factors, including factors that can help you protect you...

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. #retirement #retirementplanning #dohstr8 ---Ready to subscribe--- For more information visit: --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( 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 Social Security Reduced For Student Loan Payments Student loan debt has become a major issue in today's society, as more and more students are taking on loans to pay for their education. However, those who are unable to pay off their student loans in a timely manner now run the risk of having their Social Security benefits reduced. The government has introduced a new law that allows them to take money from borr...

In this video, we'll be discussing an important topic that concerns many Americans: the safety of their retirement savings in the event of a bank collapse. Many people rely on 401k plans as a primary source of retirement income, but what happens to that money if the bank that holds your 401k goes under? We'll take a deep dive into the regulatory safeguards that protect your 401k, including the Federal Deposit Insurance Corporation (FDIC) and the Securities Investor Protection Corporation (SIPC). We'll also discuss the differences between bank and brokerage 401k accounts, and how they're insured differently. We'll explore what happens to your 401k if your employer goes bankrupt, and what you can do to protect your savings. We'll also touch on the importance of diversification and why it's important to spread your retirement savings across multiple investments. By the end of this video, you'll better understand the safeguards in place to prote...

The decade of your 60s may be the one where you will make the most crucial financial decisions than any other decade. We're helping today with the most important decisions you will face in your 60s during this episode of the Wise Money Show. Season 7 Episode 42 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: 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® an...

Stretch IRA's, RMD's, Inherited IRA's , QCD's and IRA penalty free distribution exception for IRA.I'll give you an explanation of the 5 parts of the new law that are most likely to impact your finances. RMD changes and Stretch IRA is dead. Check out www.bradrosley.com for many educational posts. brad@fortunefinancialgroup.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 The SECURE Act, which came into effect on January 1, 2020, introduced significant changes to retirement planning . One of the most significant changes is the elimination of the Stretch IRA provision. This provision allowed non-spouse beneficiaries of an IRA to stretch out distributions over their lifetimes, significantly reducing the tax burden on inherited IRAs. However, under the new SECURE Act, non-spouse beneficiaries must distribute the entire IR...

How will the SECURE Act 2.0 Impact Your Finances? Top 10 important changes and how they may impact your retirement. University of Holistic retirement planning Online Course Download Free Information: ... ( 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 The SECURE Act 2.0 is a proposed extension to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. The new legislation includes significant changes to retirement planning that adjust current policies to better suit the changing workforce. One of the most notable changes in the SECURE Act 2.0 is the expansion of retirement savings options for more types of workers. The bill would allow long-term part-time workers, including those who work as little as 500 hours a year, to participate in retirement savings plans. This would provide greater access to pension plans ...

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,...

Roth IRA's have two different 5 year rules. Learn More: ... ( 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 Roth IRA is a great retirement savings plan that has gained popularity over the years. It works by allowing individuals to invest their after-tax income in the account and withdraw tax-free during retirement. However, there are two crucial 5-year rules that every Roth IRA investor should be aware of. The first 5-year rule applies to the earnings on the Roth IRA investments. The Internal Revenue Service (IRS) requires a minimum of five years before an investor can withdraw the investment earnings tax-free. This means that any earnings generated through the Roth IRA account will be subject to a 10% penalty if the account holder withdraws them before the 5-year period is over. It is essential to note that this rule applies to earnings on...

#investing #stockmarket #finance A Roth IRA is a type of individual retirement account (IRA) that is funded with after-tax dollars. This means that you contribute money to a Roth IRA after you have already paid income tax on it. The benefits of a Roth IRA are that the money you contribute can be withdrawn tax-free and penalty-free at any time, and any earnings on your investments within the account are also tax-free when you withdraw them during retirement. There are annual contribution limits for Roth IRAs which were just increased for 2023, and whether you are eligible to contribute to a Roth IRA and how much you can contribute may depend on your income and tax filing status. Contributions to a Roth IRA are not tax-deductible, but the tax-free growth and tax-free withdrawals can make a Roth IRA an attractive option for retirement savings, particularly for those who expect to be in a higher tax bracket in retirement. Disclaimer: Please consult with a professional befor...

These 15 changes help us save more for retirement! Some more than others. My favorite is being able to transfer 520 college savings plan money into a Roth IRA for kids. But there are 14 others worth sharing in this video! ⏱Handy Timeline: 0:00 Secure 2.0 Act Changes 0:14 1. Free Emergency Fund 1:15 2. 401k Gift Cards 1:52 3. Forcing the 401k 2:30 4. Paid to save 3:54 5. Student loans that invest for you 5:12 6. Part-time workers win 6:04 7. Roth 401k Matching 6:36 8. Starter 401k 8:24 9. 529 to Roth for kids! 13:40 10. Lost and Found 401ks 14:58 11. 401k Withdrawals 17:20 Firefighters 18:02 Catch up contributions 18:58 Better comparisons, more profits 20:10 RMD rules relaxed 22:16 All Aboard the Omnibus 22:55 Secret 23:13 What if you have no 401k? ===== 📗My Investing Masterclass For Beginners Course! Step by Step from beginner to stock market success! ===== The Investing Apps I Recommend: 📈M1 Finance Investing: (Get $10-30 when you start investin...

Having the right financial resources in retirement is important, yet some of the most affluent retirees are not happy. Moreover, many retirees who enter retirement with a big nest egg run out of "nest egg" long before they run out of "retirement." On the other side there are those that have little to no savings entering retirement and are EXTREMELY happy. The difference is what Geoff calls the retirement focus and this video discusses some of the main elements. FREE Retirement Ready Checklist: Holy Schmidt Book Club: Important Links: Follow Me on Instagram: Geoff's Facebook Page Federal Reserve Board Survey of Consumer Finances: Social Security Administration Application for Benefits Current Social Security Cost of Living Adjustment Social Security Payment Estimator THE CHANNEL’S MOST POPULAR VIDEOS Should You Take Social Security at Age 62 and Invest it? 7 GOOD REASONS to File for Social Security Benefits at Age 62 Average R...

A Roth IRA conversion ladder is a multiyear strategy that allows savers to tap into their retirement accounts without penalties before reaching age 59½. With a Roth conversion ladder, money is shifted from a tax-deferred retirement account —such as a traditional IRA or 401(k)—into a Roth IRA. But unlike a standard Roth IRA conversion, it’s done multiple times over several years. The staggered conversions create the “ladder.” Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. When you do a Roth IRA conversion, you must wait five years to withdraw the converted amount to avoid a...