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David Royer, Financial Advisor, and Educator, Interviewed on the Influential Entrepreneurs Podcast

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4 months ago

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David Royer, Financial Advisor, and Educator, Interviewed on the Influential Entrepreneurs Podcast

Published on June 13, 2023

David Royer discusses common IRA Tax Traps that can be avoided with the help of a trained professional to prevent costly and irreversible mistakes. 

Listen to the interview on the Business Innovators Radio Network: 

https://businessinnovatorsradio.com/interview-with-david-royer-financial-advisor-and-educator/

Avoiding certain common IRA tax traps is essential to ensure retirement savings are preserved. Here are just some of the many mistakes that should be avoided:

  1. Not taking required minimum distributions (RMDs) – RMDs are mandatory withdrawals from traditional IRAs and must begin after age 73. Failing to withdraw the correct amount or not withdrawing at all will result in a 25% penalty on the amount that should have been withdrawn.
  2. Excessive contributions – There is a yearly maximum for contributions to an individual’s IRA based on age and income level. Contributing more than these limits may result in “excess contribution” penalty of 6%.
  3. Early withdrawals – Early withdrawals or taking funds out of an IRA before age 59 and a half can result in large tax penalties. The 10% penalty does not apply to certain exceptions, such as first-time home purchases and medical expenses.
  4. Failing to report Roth conversions – Converting money from a traditional IRA to a Roth IRA is usually done for tax purposes. However, if a Roth conversion is completed without properly reporting it to the IRS, the converted funds will be subject to income tax and may trigger a 10% penalty.
  5. Mixing retirement accounts – Transferring funds between different types of IRAs (traditional and Roth) can lead to IRS confusion about which account should be taxed upon withdrawal. If the funds are not properly reported, they may be subject to additional taxes and penalties.
  6. Not rolling 401k and other company plans to an IRA after retirement. There are several good reasons to contribute to 401k, 403b, TSP, and other sponsored plans. People can tax deduct their deposits and, in most cases, receive company matching funds. After they retire or have a change in service, the company matching funds are gone for good. That would be a good time to consider transferring the plan funds to a more flexible IRA. They can also eliminate the fees associated with the employer-sponsored plans.
  7. Not knowing the new IRA rollover rules could result in immediate taxation. An indirect rollover occurs when the IRA owner receives a check from the current custodian and redeposits their personal check with the new custodian within the sixty-day limit. This can only be done one time in any twelve-month period. If an IRA owner does more than one “indirect” rollover in a twelve-month period, all other “indirect rollovers” within that twelve-month period will be fully taxable. Most account owners should consider making a direct transfer from the current custodian to the new custodian of their choosing. People can do as many direct transfers as they like without worrying about unnecessary taxes.

David explained: “By educating yourself on common IRA tax traps and taking the necessary steps to avoid them, you can protect your retirement savings from costly mistakes. Taking the time to understand the rules and regulations of IRAs can help ensure that your hard-earned money remains safe and secure for years to come.”

About David Royer

David F. Royer entered the financial services industry after completing his military obligation. He began studying the growing IRA Distribution market in 2002 and today he is a nationally recognized speaker and trainer in qualified plan distribution. He has trained thousands of financial advisors and agents in the discipline of qualified retirement plan accumulation and distribution. David’s many articles on IRAs, 401(k)s and other qualified retirement plans have been published in leading national financial periodicals. He is a frequent guest on financial radio shows and is also the author of “The Top 10 IRA Mistakes and How to Avoid IRA Tax Traps.”

Today he is focused on helping those who are retired or planning for retirement, to keep their retirement accounts safe and make them aware of ever-changing rules that could affect their retirement savings.

In 2004 David developed the ultimate IRA distribution training course “The Keys to the IRA Kingdom” ®, that he teaches nationally. He educates financial advisors and agents in the art of helping their clients get the most out of their IRAs, 401(k) plans and other qualified retirement accounts. David teaches a simple lesson:

 “The IRS has given IRA/401(k) owners and their beneficiaries complex rules and guidelines that must be followed to avoid additional taxes and penalties. “They just need a little help to navigate them.”

 Learn more: https://americannetworkoffinancialeducation.org/

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Frank Tobin, Executive Chairman of GomSpace North America, Discusses Partnering for Faster and More Assured Mission Success on The Space Industry Podcast

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3 days ago

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September 29, 2023

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Frank Tobin, Executive Chairman of GomSpace North America, Discusses Partnering for Faster and More Assured Mission Success on The Space Industry Podcast

Published on September 29, 2023

Low Earth Orbit (LEO) is becoming an increasingly difficult place to do business. In his recent appearance on The Space Industry Podcast, Frank Tobin, Executive Chairman of GomSpace North America, shares his belief that the fastest path to a successful LEO satellite deployment in this competitive environment is through collaboration.

A new race to space is happening right above our heads. But the destinations targeted today are not the Moon or Mars. Instead, entrepreneurs, nation states, and large corporations are sending small satellites into Low Earth Orbit (100 to 1,000 miles altitude) to track weather, provide broadband Internet access and telecommunications, support the Internet of Things (IoT), and perform military and security functions.

With so many potential LEO opportunities available, a gold rush mentality has driven scores of entrepreneurs and hundreds of millions of dollars of capital into the sector in recent years. Now, as the market begins to mature, investors are becoming more focused on rapid paths to profitability and less upon innovative technologies.

“The capital markets are no longer interested in funding science projects,” stated Frank Tobin, Executive Chairman of GomSpace North America on The Space Industry Podcast. “They are looking for business models that can be ramped up quickly and achieve cash flow positive status in a reasonable period of time.”

“This is why it’s critical that every company or agency planning a satellite mission focuses on their core technological competencies,” Tobin continues, “And outsources to flight-proven partners the nuts and bolts of building, launching, and managing one – or a constellation of – satellites. The sooner you can demonstrate in-orbit experience, the less equity you will have to give up in exchange for capital. Partnering accelerates that process.”

Listen to the interview:
Frank Tobin’s appearance on The Space Industry Podcast is the first in a series of such interviews he will be granting in the coming weeks and months to communicate his message of the power of partnering in space.

To listen to Tobin’s guest interview on The Space Industry Podcast, click this link.

About GomSpace North America
GomSpace is a manufacturer and operator of nanosatellites for customers in the defense, academic, government and commercial markets. GomSpace’s services include systems integration, nanosatellite platforms, constellation operations management and miniaturized radio technology.

About The Space Industry Podcast
The Space Industry Podcast features stories, educational material, and behind-the-scenes views into the real-world activity in today’s space industry. It is produced by satsearch – the global marketplace for space – which helps engineers from across the global industry find information on suppliers, products, services, and capabilities at all levels of the supply chain.

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BINE INTERNATIONAL Announces Dubai Investment and Networking Event (DINE 2023) at JW Marriott Marquis Hotel

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September 28, 2023

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BINE INTERNATIONAL Announces Dubai Investment and Networking Event (DINE 2023) at JW Marriott Marquis Hotel

Published on September 28, 2023

BINE INTERNATIONAL Announces Dubai Investment and Networking Event (DINE 2023) at JW Marriott Marquis Hotel

Dubai, UAE – 9/28/2023– BINE INTERNATIONAL is thrilled to announce the highly anticipated Dubai Investment and Networking Event (DINE 2023), scheduled to take place at the luxurious JW Marriott Marquis Hotel on December 16, 2023. This prestigious event is poised to facilitate investment and collaboration among companies and industries, with a special focus on bolstering small and medium enterprises (SMEs) under the theme “Growing Businesses through Investment Collaboration.”

DINE 2023 is set to create a dynamic business ecosystem, benefiting both local and international entrepreneurs, while reaffirming its strong commitment to supporting SMEs and recognizing their pivotal role in driving economic growth and innovation. The event aims to provide SMEs with a platform to connect with potential investors, expand their networks, and explore new growth opportunities, ultimately catalyzing economic development, creating job opportunities, and fostering a sustainable business environment.

Highlighting various investment opportunities in sectors such as technology, energy, infrastructure, agriculture, and tourism, DINE 2023 will bring together entrepreneurs, investors, and decision-makers from both regions. The event’s emphasis on networking and fostering meaningful business relationships will be a key feature, with interactive sessions designed to facilitate connections and collaborations, enabling participants to engage with industry leaders, experts, and policymakers to exchange ideas and best practices.

DINE 2023 boasts a diverse lineup of industry experts and thought leaders who will share their insights on investment strategies, market trends, and innovative business models. Guided by a shared vision for growth, these sessions will inspire attendees to think beyond boundaries and explore new avenues for business development. By promoting innovation and thought leadership, DINE 2023 aims to ignite a spirit of entrepreneurial excellence and propel business growth.

The Dubai Investment and Networking Event (DINE) 2023 stands as a testament to the unwavering commitment to fostering a thriving business ecosystem that benefits all. Through collaborative efforts, investment opportunities, and networking, DINE 2023 is dedicated to supporting SMEs and driving strategic investments. With the stage set for this groundbreaking event on December 16, 2023, entrepreneurs, investors, and industry leaders are eagerly anticipating an inspiring and transformative experience at DINE 2023.

For registration and further information, please visit https://www.bineint.com/register.

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Miriam Divinsky, Ph.D., Spiritual Advisor, Launches Book on Amazon Titled: “Playing The Game Of Life And Business To Win: Search For Truth And Enlightenment.”

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September 28, 2023

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Miriam Divinsky, Ph.D., Spiritual Advisor, Launches Book on Amazon Titled: “Playing The Game Of Life And Business To Win: Search For Truth And Enlightenment.”

Published on September 28, 2023

Dr. Miriam is a spiritual advisor and mentor to entrepreneurs and business owners. Her mission is to help transform her clients’ work and lives to realize their full potential. Dr. Divinsky is the Founder and President of Authentic Life Center, Inc. She is listed in “America’s Best Therapists” and has been featured in “Who’s Who: National Registry” and “Who’s Who in American Women.” Dr. Miriam Divinsky is a Lifetime International Association of Counselors and Therapists member. Dr. Miriam Divinsky is a Lifetime Member of International Association of Counselors and Therapists.

Divinsky launched her brand new book on Amazon and Kindle and hit several Best-Seller lists on Amazon.com within 24 hours of release, achieving #1 in Knowledge Capital, #1 in Divination and Personal Growth, and #6 in Personal Success and Spirituality.

Divinsky said, “This book is the clearest blueprint to align your Outer Game of Success with your Inner Game. The alignment of these two Games allows you to have a truly successful professional life AND a happy and fulfilling personal life. The information in this book will transform your awareness, intentions, actions, and results so that you can be who you were always destined to be.”

Miriam continued, “My mission is transforming my clients’ lives to meet their Destiny and to live to their full potential. I started many years ago with a desperate need to understand the meaning of my life and to find the Truth that would set me free to live without the limitations of sheer mortality. The search for Truth took many turns over many years in two countries: Russia and the United States. I always felt that my life was a bridge by which my clients could cross from the constriction of naive materialism to the freedom of full realization of human Destiny—the realization of the Truth of who we truly are—an expression of Infinite Spirit in human form. In this instructional book, I am sharing the most fascinating and practical information that allows you to change your life physically, emotionally, mentally, and spiritually.”

Connect with Dr. Miriam Divinsky: www.Miriam360.com
Purchase a copy of her book: https://www.amazon.com/dp/B0CJ8CQQ7J

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