Timothy Sumer

A Social Security bridging strategy involves spending from your assets after you stop working instead of taking your retirement benefit immediately. There are pros and cons of this approach, but the benefits can be substantial. In particular, you might: ☑️ Maximize your retirement income ☑️ Reduce risk over the long term ☑️ Open the door to tax strategies ☑️ Possibly help improve things for a surviving spouse ☑️ And more But there are no guarantees in life, and there are always tradeoffs. That’s true with a Social Security bridge, as well. For instance, you might be hesitant to spend down your assets while you wait. That’s understandable. And delaying benefits isn’t right for everybody. Whether you have health issues or you just want the income sooner than later, it could be appropriate to take benefits early. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6...

Conversions of the Traditional portion of a Thrift Savings Plan to a Roth IRA may not work for everyone, but if done properly and at the right time, you could see more net income from your TSP in retirement. In this episode, we will discuss key points you should know before taking any actions and provide 3 strategies of when a Roth conversion may be best for you. Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. In this episode we will go over: - 3 considerations when comparing Traditional and Roth IRAs - Key Points to know before you convert an IRA - 3 strategies of when a conversion might be best for you 0:00 Intro 1:43 Why choose a Roth? 2:30 Key Points to know before you convert an IRA 5:49 3 strategies of when a conversion might be best for you Footnotes for: Roth Conversion at Retirement Strategy This example uses ...

Roth IRAs are a great way to invest for retirement while also providing a tax shelter. However, there are many limits and rules to follow. Here's a quick tip for you to use when contributing to a Roth IRA! I'm a licensed financial advisor and I'm not providing investment advice through any content written or produced on YouTube. These videos are for general educational purposes and may contain errors. This is not financial and/or tax advice.... ( 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 Quick Tips for Your Roth IRA: A Path to Financial Freedom In today's fast-paced world, it is more crucial than ever to plan for a comfortable and secure retirement. One excellent investment vehicle for achieving this goal is a Roth Individual retirement account (IRA). A Roth IRA offers numerous benefits, including tax-free growth and with...

Show Notes: I wanted to share an informative video with you that discusses strategies to increase your Roth IRA or 401k balance. These strategies can help you maximize your retirement savings while potentially reducing future tax burdens. The video provides valuable insights into two specific techniques: the backdoor Roth IRA strategy and the mega backdoor Roth IRA strategy. Questions? Email us at Hans@CardinalGuide.com, call us at (919) 535-8261, or visit our website at H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska 100118081, Arizona 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 445296, Idaho 507076, Illinois 100333675, Indiana 721739, Iowa. 1002056691, Kansas. 272705345, Kentucky 738674, Louisiana 614407, Main...

Show Notes: Do you know the difference between a CONTRIBUTION to your retirement account and a CONVERSION of your retirement account ? To CONTRIBUTE you must still be working and you face annual limits as to how much you can contribute. To CONVERT to a Roth IRA, you can be retired and your only limits are the size of your pre-tax IRA/401k and the income tax you are willing to pay. Roth IRAs are great for tax free retirement income later and to leave to your children and grandchildren as an inheritance. Questions? Email us at Hans@CardinalGuide.com, call us at (919) 535-8261, or visit our website at H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska. 100118081, Arizona. 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 44...

Strategic Roth conversions in the gap years of retirement can offer certain advantages and disadvantages. Here are some pros and cons to consider: Pros: Tax-free growth: Roth conversions can offer the potential for tax-free growth on investments. This can be especially beneficial in the gap years of retirement when income may be lower and tax rates may be more favorable. Reduced Required Minimum Distributions (RMDs): Converting traditional retirement account funds to a Roth IRA can reduce your future RMDs, which may help to lower your overall tax liability in the long run. Legacy Planning: Roth accounts can be passed down to beneficiaries tax-free, offering potential estate planning benefits. Cons: Tax Consequences: Roth conversions involve paying taxes on the amount being converted in the year that the conversion is made. Depending on the size of the conversion and your current tax bracket, this could result in a significant tax bill. Loss of tax deduction: By converting...

///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- 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®, C...

///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE ----------------------------------------------------- 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® CERTIFIED FINANCIAL...

What is a Backdoor Roth IRA contribution? Who should consider using this strategy? How do you make Backdoor Roth IRA contributions? What are pro-rate rules and how do I minimize their tax impact?... ( 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 For those individuals who have not had the opportunity to fund their traditional IRA account, the Backdoor Roth IRA offers an alternative way to contribute to a retirement account . It offers a loophole to high-income earners who typically would not be allowed to contribute to a Roth IRA. In order to understand the Backdoor Roth IRA, it is important to have an understanding of the traditional IRA and Roth IRA. The traditional IRA offers a tax deduction on the contributions at the time of contribution, but is taxed when the money is withdrawn in retirement. The Roth IRA, on the other hand, is funded...

Stick around to learn about when it is best to do a Roth Conversion, how much to convert, and much more! Thanks for watching! If you enjoyed the video, please subscribe to the channel for weekly content! Here are a few ways that we might be able to help; 1. Watch our free educational videos here on our YouTube Channel 2. Like the Money Evolution Facebook Page. Additional investment and retirement planning content, including Live Stream Market, updates not on the YouTube Channel. 3. Our WealthVision Comprehensive Financial Plan: 4. Learn more about our retirement planning Course The Retirement Time Machine Tracking: 419013-1... ( 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 Mapping Your Roth Conversion Timeline: A Step-by-Step Guide Roth conversions can be a powerful tool for tax planning and retirement savings. By converting tradit...

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...

Today we're looking at the taxes in a Roth IRA conversion and focusing on the opportunity given all that has happened in 2020. The opportunity to convert some or all of your traditional IRA to a Roth IRA is greater than ever seeing how many feel that taxes are likely headed higher. Let's dig into the idea of lowering future taxes with a Roth IRA conversion this year. 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: --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Roth IRA taxes and conversion strategies are important topics to consider when p...

The SECURE Act 2.0 In this episode of Berry's Bites, Chris Berry answers the question: What is new with Secure Act 2.0? ___________________________________________________________ Certified Elder Law Attorney and Certified Financial Planner Christopher Berry of Castle Wealth Group answer questions on retirement and estate planning every Wednesday at 1pm. Register here or give our office a call at 844-885-4200. Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning , and tax planning from their Brighton, Ann Arbor, Livonia, Bloomfield Hills, and Novi offices. Castle Wealth Group helps families with their legal, financial, and tax planning for their retirement and legacy. With the use of legal structures like revocable living trusts, Castle Trusts (asset protection trusts), Chris Berry and Castle Wealth Group can help your family plan, protect, and preserve what is important through their Retirement and Legacy Blue...

If you’re a resident or military member, maximize Roth contributions. If you’re in a low-income year for any reason, such as a sabbatical, use Roth contributions. Use a personal and spousal backdoor Roth IRA each year. That way, even if you choose to make all tax-deferred 401(k) contributions, you’re still getting some money into Roth accounts. If you can pay the tax with money in a taxable account and expect to work part time or retire in your 50s, then consider making Roth conversions during those years before receiving Social Security or a pension to “fill up the lower brackets.” If you save and invest more than 20 percent of your gross income, lean a little more toward Roth investments. If you save and invest less, use tax-deferred accounts preferentially. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physi...

A common question I get is, “How much of my retirement should I convert to a Roth IRA?” Everyone’s situation is unique. However, my general advice is if you anticipate your tax rate to ⬆️, and you are currently below the 24% tax bracket, contribute as much as you can into a Roth IRA. Once you hit the 32% tax rate, the strategy changes a bit.... ( 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 https://inflationprotection.org/filling-your-tax-brackets-with-a-roth-ira-conversion-how-much-should-i-convert/?feed_id=54461&_unique_id=63ac10d388027 #Inflation #Retirement #GoldIRA #Wealth #Investing #filltaxbrackets #howmuchshouldIconvert #ROTH #rothconversions #RothIRA #shouldIconverttoaroth #TaxBrackets #taxstrategies #RothIRA #filltaxbrackets #howmuchshouldIconvert #ROTH #rothconversions #RothIRA #shouldIconverttoaroth #TaxBrac...

Today we are answering your questions about retirement accounts. We discuss SEP IRAs, Roth IRAs versus traditional, 403(b) versus 457(b) and more. We also answer some questions about pregnancy and healthcare and comparing safer investments. We have three guests on today from one of our recommended financial advisors, Personal Choice Financial Advisors. They will tackle a few of your questions to help you get a sense of who they are. This episode is sponsored by First Republic Bank. When you own a professional service business, client satisfaction is your number one priority. So when it’s your turn to be the client, shouldn’t you get the same kind of treatment? At First Republic, you’ll be paired with a dedicated business banker who understands the unique needs of your company and industry. This is the banking partnership you and your team deserve. Visit today to learn more. Member FDIC, Equal Housing Lender. The White Coat Investor has been helping doctors with their money...

In this video The White Coat Investor does a Deep Dive into the Back Door Roth IRA vs. Mega Back Door Roth IRA. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Subscribe Here: Main Website: Student Loan Advice: Facebook: Twitter: Instagram: Subreddit: Online Courses: Newsletter: 00:00 Back Door Roth IRA 00:28 Mega Back Door Roth IRA 00:58 Roth Conversions 01:30 Types Of Contributions 03:20 How To Do A Mega Back Door Roth IRA... ( read more ) LEARN MO...