Categories
Retirement Planning

Social Security COLAs, Work in Retirement & Home Exercises to Prevent Falls [Video]

Watch/Read More

Social Security COLAs, Work in Retirement & Home Exercises to Prevent Falls

Four Ways to Plan Ahead for Social Security’s 2022 Cost of Living Adjustments – https://brightworth.com/content/four-ways-plan-ahead-2022-social-security-adjustments

Elements of Retirement: Work – https://brightworth.com/content/elements-retirement-work

Six Exercises to Help Seniors Build Strength, Improve Balance, and Prevent Falls (WSJ) – https://www.wsj.com/articles/six-exercises-to-help-seniors-build-strength-improve-balance-and-prevent-falls-11634378400?mod=Searchresults_pos4&page=1

Categories
Retirement Planning

How to Avoid Tax Underpayment Penalties When Performing a Roth Conversion! [Video]

Do you have need experienced help optimizing and executing your Roth Conversion strategy? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to https://www.safeguardinvest.com/contact. Do you know you can't just wait until tax time in order to pay a balance you owe to the IRS? If you do, you may be subject to a tax underpayment penalty and have to pay future quarterly estimated taxes. Neither of which are very fun...Withholding the right amount for taxes is a problem throughout retirement but specifically is a problem that can arise with Roth Conversions. Roth Conversion taxes can be paid in numerous ways. From withholding taxes right out of the conversion to paying taxes from your checking or savings accounts. Regardless of how you pay taxes, the IRS will force you to pay those taxes at a specific time or face IRS penalties.In this video, we are going to clear up a hot button issue in regard to Roth Conversions - How to pay the right amount in taxes at the right timeWe will discuss: ✅ How to pay estimated taxes in order to avoid underpayment penalties✅ The way you withhold taxes will vary based on what source you are paying those taxes from✅ How to meet one of the three guidelines the IRS specifies you need to meet in order to avoid IRS penalties- - - - - - - - - - - - - - - - - - - - - - Always remember, "You Don't Need More Money; You Need a Better Plan"🍿 Subscribe to our channel: https://www.youtube.com/channel/UCVMA...🏆 Join our 'Retirement Mastery' Facebook Group: https://bit.ly/retirement-mastery-group📈 Talk with us about your retirement plan here: https://www.safeguardinvest.com/contact📚 The New 60/40: How the Next Generation of Retirees Can Achieve Radical Financial Freedom through Better Safe Investing - https://www.amazon.com/New-60-Generation-Financial-Investing/dp/B08H6TCMFNSafeguard Wealth Management is a Registered Investment Advisor in the State of WI. Safeguard Wealth Management is not an insurance provider. All content on Youtube is for informational purposes only and should not be taken as personal advice for your situation. You can read more disclosures at https://www.safeguardinvest.com/fiduciary

Categories
Retirement Planning

Crypto Retirement Accounts are the FUTURE [Video]

Crypto Roth IRA. Best crypto retirement accounts. 👴Itrust Capital Crypto Roth ($100 free) https://itrust.capital/maher🔗Join the Patreon: https://www.patreon.com/maxmaher✨ Crypto exchange I use: https://www.kucoin.com/ucenter/signup?rcode=rJMS45S💻Free Discord Link: https://discord.gg/9wSVmT2ewU💵Get up to $250 in Bitcoin from Blockfi https://blockfi.com/MaxMaher📚 My YouTube School: https://max-maher.teachable.com/p/complete-guide-to-building-an-audience-and-wealth-on-youtube🚚My in-depth moving company course: https://max-maher.teachable.com/p/moving-company-millionaire📷ALL of my camera and recording equipment: https://www.amazon.com/shop/maxmaherStake your Cardano in my stakepool! Ticker Symbol: MAX1 https://www.stakewithmax.com✉️Join my newsletter: http://eepurl.com/gWantb Crypto retirementBest crypto retirement accountsIs itust legit?How to avoid tax on cryptoWhat if I told you it’s possible to trade and retire with crypto... tax free?Zero capital gains on crypto.Let’s talk about crypto retirement accounts and how they can save you thousands of dollars and how you can get set up step-by-step.We’re going to cover the two most popular types of IRA’s.. The traditional IRA and Roth IRA. It’s important to understand a few key similarities and differences between these crypto retirement accounts. The most important similarity is trading. Trading crypto within either a Traditional or Roth IRA is not a taxable eventIn a regular account, ANY profitable trade you make is subject to capital gains tax.Short term capital gains can be as high as 37% meaning if you profited $1000 on a trade.. Up to $370 can go to Uncle Sam.That same trade in a Roth retirement account has a tax of.... $0. The most important difference between these accounts is when and how you ARE taxed Traditional IRAs are called “tax deferred” which is a fancy way of saying you don’t pay income tax on funds added to the account. You only pay tax on earnings you pull out in your retirement after age 59.5.Those earnings are taxed as income at that time.The idea is if you defer your taxes to your old age you will pay a lower income tax rate because you are no longer in your prime earning years.Roth IRAs on the other had grow tax-free.This means you pay regular income tax on funds added to the account but you pay nothing at retirement.So let’s say you added $1000 to your Roth IRA and it grew to $10,000 at retirement.You would pay your regular income tax on that $1000 now and $0 on the $9000 in gains at retirementThis is what Peter Thiel did and now he has $5 billion dollars in one of these accounts tax free. 0:00 Intro0:05 a lil treat0:16 The most popular types of IRAs1:02 Traditional IRAs1:31 Roth IRAs1:58 Peter Thiel life hack2:30 The stack3:10 When this works best3:30 How does this really work?4:30 Important example4:50 Using these methods6:13 Why you don't see this everywhere7:04 What to look out for 7:10 My favorite method and how to get started7:47 Downsides and considerations8:10 The 5 year rule8:35 Don't confuse thisMy Instagram: https://www.instagram.com/maxwell_maher/Schedule one-on-one business consulting with me here: https://max-maher.teachable.com/p/1hr-consultation-call*I am not a financial advisor. This is not financial advice*

Categories
Retirement Planning

Will the “Build Back Better” Plan Eliminate Roth IRAs? [For Good] [Video]

Will the “Build Back Better” Plan Eliminate Roth IRAs - Mega Backdoor Roth IRAs for Good?SUBSCRIBE to NOT being a transaction ever again... https://bit.ly/33TpKqDLike us on Facebook! https://www.facebook.com/Stop-Being-Sold-524309451006118Follow us on Twitter! https://twitter.com/stopbeingsoldVisit us on the web: https://stopbeingsold.com/The recent version of the Build Back Better Act has brought back retirement law changes that will curb high balance accounts and popular wealth building strategies including backdoor Roth IRAs and after-tax 401(k) contributions. The goal: Tax the wealthiest taxpayers to help pay for the new Social and Climate bill that is currently being debated in Congress.History of Roth: A Roth IRA can be a great way to save for retirement since the accounts have no required minimum distributions and you withdraw the money tax-free.The Roth IRA was introduced as part of the Taxpayer Relief Act of 1997.Is named for Senator William Roth, the author/founderHere’s some of the fine print:Backdoor Roth IRA’sBackdoor Roth IRA’s – These are where someone makes too much to contribute to a Roth IRA, and they can put non-deductible contributions to an IRA and immediately convert to a Roth (owing no taxes)Eliminated by limiting rollovers and conversions to taxable accounts after Dec 31, 2021.Backdoor Mega Roth IRA’sSame as the Backdoor Roth, except it allows much greater amounts to be deposited.Prohibits all after-tax contributions to 401(k)s after Dec. 31st, 2021.Also prohibits converting existing after-tax IRA amounts to a Roth IRA after Dec 31, 2021.Both Backdoor Roth and Mega Roth IRA’s are regardless of income levelRoth ConversionsEliminates Roth conversions for higher income earners above $400k for individuals and $450k for married couples after Dec 31, 2021.New contribution limitsProhibits new contributions for IRA holders with a total of $10 million in IRA assets.Applies to married couples with income over $450,000, and individual income over $400,000New distribution rules for larger accountsRequired to take a special minimum withdrawal of 50% of the amount over $10 million the year following you reaching this number.More restrictive provisions over $20 million.Begins Dec 31st, 2028New Reporting RequirementsRecordkeepers (TD/Schwab/Fidelity) will be required for annual reporting of all accounts over $2.5 million.Also, reporting of where the assets are held (Roth/Traditional)Begins dec 31, 2028Once this data is available it could lead to lowering the threshold of Special Minimum Withdrawals from $10 million to who knows whereLonger timeframe for IRS to go after violators (6 years, instead of 3)Stay tuned to this channel as this information is very fluid.. mega backdoor roth, roth ira withdrawal tax rules, roth ira eliminated, roth conversion eliminated, backdoor roth

Categories
Retirement Planning

FUTURE AND PRESENT VALUE OF SIMPLE ANNUITY GENMATH MODULE 5 PART 2 [Video]

Practice Activity 1:Find the Present Value (P) and the Future Value (F) of quarterly payments of ₱ 2,000.00 for 5 years with interest rate of 8% compounded quarterly.Independent Activity 1Find the Present Value (P) and the Future Value (F) of semi-annual payments of ₱ 8,000.00 for 12 years with interest rate of 12% compounded semi-annually.Practice Activity 2:How much should you invest in a fund each year paying 2% compounded annually to accumulate ₱ 100,000.00 in 5 years?Independent Activity 2Starting on her 30th birthday, a woman will invest an amount every year on her birthday in an account that grows at an annual rate of 7%. What should be the amount invested should she want her fund to ₱ 300,000.00 just before her 65th birthday?Practice ActivityThe value of a car requires a ₱ 169,000.00 cash downpayment and a monthly payment of ₱ 12,000.00 If money is computed at 10% compounded monthly, how much is the cash price of the car payable in 5 yearsIndependent Activity 3The buyer of a lot pays ₱ 50,000.00 cash and ₱ 10,000.00 every month for 10 years. If money is 8% compounded monthly, how much is the cash price of the lot?