🆕 NEW 2025 Roth IRA Income Rules & Limits: ruclips.net/video/mfq8MsNRjX8/видео.html ✅ Not sure how to invest? Find advisors here: penniesnotperfection.com/nectarine ✅ Roth IRA rules found here: www.irs.gov/retirement-plans/roth-iras ✅ Roth Savings Challenge plans: shop.penniesnotperfection.com/products/roth-ira-challenges-printable ✅ Watch more of my Roth IRA 101 videos: ruclips.net/p/PLhf4jGRzee7eo2gBLMxqAVJqlO7g5V1NS
Worth mentioning that it's best to contribute the full amount the first 3 to 4 months out the year, since the most valuable thing is time in the market. So if you can, max out your ROTH beginning of the year.
Yes, if you can. Most people cannot and that type of advice is a hurdle for them and they get discouraged and just don't do anything. Seeing as how the vast majority of people get discouraged from saving, I would prefer they do whatever it takes to sustain a contribution schedule, even if that means over the entire year. $100 per month is way more valuable than $0 for the entire year.
This actually hurt me a little bit last two years. I maxed out early in the year, then the market trudged along lower than my buying price most of the two years. If I’d bought monthly I’d have gotten more for my money buying at the lower price. This year I’ve just got it set to autocontribute 625 per month to max it by the end of the year. My personal investment account that I contribute 700 per month to has out performed my Roth in growth for the last 2 years, just because I was still buying the lows vs riding them out.
@@codycampbell6417 I wish i own the whole IRA business. Because it is really like a scheme where if 50k dies out 1M without having anyone take the money they saved from IRA then the company is a billionaire in a year. We are all just sheeps to these Roth family.
Don’t if you are close to the maximum income, i fall into the income range and could only contribute about $1000 in 2023 (i had to wait to do my taxes)
I appreciate that you mentioned once the account is open and once you have put money in there, to SELECT YOUR INVESTMENTS or it just sits there. It is so important to know this and plan when getting started.
Dang I'll have to watch out for this. My first 401k/Roth 401k is coming up. I used to always decline them, but nowadays I want to take advantage of them
On how to specifically select investments? Not exactly because it's so different company to company. I might do some Vanguard and Fidelity tutorial videos in the next year if that can help people. But basically when you put money into a Roth IRA it goes into a settlement account so you have to actually buy/invest in something after that.
Investing in a Roth IRA proves advantageous due to its funding with after-tax dollars, allowing your contributions to accrue tax-free over time. Upon withdrawing funds from your Roth IRA during retirement, you can avoid taxation, enabling you to retain a larger portion of your earnings. Compounding refers to the concept of earning interest not only on your principal investment but also on the interest that accumulates from that investment. Consequently, this process facilitates exponential growth in your investment over time. Hence, initiating investments at an earlier stage provides your investment with more time to benefit from compounding and achieve significant growth.
I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I'm not a financial adviser, and this is not financial advice. This is simply my experience. I retired at 54. One of the larger mistakes I made was trying to max out my 401k. This will come back to bite you when you finally have to pay taxes on that money, and it limits you greatly before age 59.5. If I had to do it all over, I would invest like this; 1) Invest in 401k to get the max company match. Roth version if it's available. 2) Max out my ROTH IRA. 3) Max out an HSA if I qualify. 4) all other investments in a normal brokerage account. (maybe not all of it if my 401k is a ROTH) Believe it or not, a normal brokerage account has a HUGE tax advantage over a traditional ira or 401k.
I'm 22, I make good amount for my age and I just graduated college and got a job as as electrical engineer, I contributed up until my company stops matching to my 401k, they offer a Roth 401k . I expect my income to go way up as I'm older , not sure if I should invest into a Roth 401k or a Roth IRA. New to this. Thank you. Any help will be appreciated.
Rule of thumb to contribute at least 10-15% of income toward retirement. Favor contributing to Roth 401(k) when in relatively low tax bracket and favor contributing to traditional 401(k) when in relatively high tax bracket. If making
Contribute in your 401k up to the company match %, then from there put $250 per paycheck into your Roth IRA account to max it out. MAKE SURE you actually buy an index fund every time you put money in or else it just sits uninvested and doesn’t grow. There’s lots of video’s on choosing an index fund but it’s not complicated, I buy VOO every 2 weeks and don’t have to think about it.
Is this worth doing late in life? I'm currently 50 yrs old. I've never made enough to save for retirement. I'm making decent money now, but not anything fantastic. My contributions will be small. Thinking why bother?
Well, you are 50 now and if you retire at 65 you will have 15 years of contributions. That might be small depending on what you put in and the growth, but wouldn't you rather have something than nothing? Even a few thousand a year added to social security can help people out. And maybe your decent money you make now keeps growing and you can contribute more. 15-20 years is a long time and can make a difference. I definitely recommend doing something rather than going the route of thinking "why bother".
I’ll personally say it’s worth investing still. Let’s say you retire at 59 and you start investing $300/month, in 9 years that would be $32,400 just from your month and if you invested into some good assets you could possibly have $45-50k. Might not be a lot of money to never have to work again but it would most definitely come in handy for a while
What is better Traditional or Roth in a emergency for medical before retirement. What if you need the money for medical and ran out of money loss of job due to illness
I enrolled in the class you linked in the description of this video! I have a question though (I only watched the free course so far, not the one I bought). If you buy index funds like the course suggests, when you add more money into the Roth IRA each month, does it automatically get added to the index fund ticker you already bought? Or do you have to buy them (or a different one) everytime you make a contribution? Sorry I am brand new to this (and I’ll be 40 this year 😢)
My answer might not be super helpful because it depends on the brokerage! They all are different so it depends on how it allows you to set up contributions...many times it goes to the settlement account instead of automatically buying the index fund. So you would need to make sure your money is actually buying the investment not just sitting there waiting.
Hi! I'm a little bit late to the party. I have a Merrill Lynch Edge IRA now and I bought my ETFs the other day. But I was told, since I'm self directed I can't automate future investments via ETFs. I just planted my older 401K into iRA and made my purchases. But I wish to do DCA now. How can I automate DCA via ML Edge? Any thoughts?
I went to my bank to contribute for the year on my IRA.My bank said, I can’t yet because I opened a 23month CD IRA. Is it different from a Roth IRA? Am I allowed to touch it after it matures? I asked my bank this. They couldn’t answer me.
Also check with your employer as many have a Roth 401k option that does not have the same earning limits. For me I have a my normal 401k to get the match, but I also have my Roth 401k through work that is after tax.
Hello, I’m new to this and understanding Roth IRA. Do I set a goal for how much I want to put in my account each month ? Do I have to hit the $6,000 landmark for 2023?
You can contribute up to $6500 for the 2023 tax year. As for contributing per month, it equals to $541. Rule of thumb is to contribute 10-15% as a minimum out of your monthly salary. I've been contributing the maximum is allowed. But in the future if i can't contribute that much, i can lower that amount or not contribute at all. There's no penalty if you don't contribute.
If i have $20,000 and want a new IRA do i have to open 3+ accounts initially? We all know the max annual contribution based on your age but what can you put in when open a new account?
You can’t put in more than the years contribution so opening 3 accounts would not allow you to put in $20k at once. Because the deadline hasn’t passed for 2023 contributions yet you could open a Roth IRA now and put in $6500 for 2023 and $7000 for 2024 all at once.
Yes you can buy single stocks like Tesla or Google in your Roth IRA but you want to base the majority of your contributions into a stable ETF like VOO or VTI. The goal is to make money for your future and not put your money at risk. I have bought Tesla and Apple in my Roth IRA but the majority of my portfolio is in Vanguard ETFs
And depending on your brokerage you should be able to transfer your funds into your account from another brokerage but you can't transfer stocks into a Roth IRA.
I don’t know anything about this honestly since my parents we never financially stable, if my bank offers Roth IRA is that recommended to open up an account with them? I hear everyone mentioning fidelity & vanguard, but not actual bank chains for example pnc Wells Fargo, Bank of America
Banks are not generally preferred for Roth IRAs! I would never use Wells Fargo as well. Most brokerages have better investment offerings, lower fees, and better service.
Just to be clear. Does the year marker for Roth IRA starts in april? Being that it is 4/7/23-would it be too late to create a Roth IRA and do the full contributions (6k) for 2022 ? Appreciate any insight. Thank you!
The ability to contribute for a year ends the next year when taxes are due. Generally most years it is April 15. As an example for this year you should still be able to contribute the entire amount for 2022 until April 15, 2023.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions.
I'm not sure what "system" you are thinking exists. The money in your bank account came from your paycheck, right? Your paycheck is post tax income because your tax is withheld already unless you've messed up your withholding.
Invested completely in my Roth in Fidelity 500 index fund and forget it. Invest invest invest and invest some more. And leave it leave it leave it. 👍🏻✌🏻
So, what does after tax money for a Self Employed person? If a Self employed doesn't receive a check from an employer how do you prove that you already paid taxes on it?
@@Kylearamos65 Roth IRAs are taxed when money goes into it vs a traditional IRA is taxed when money is taken out. I prefer the roth because I know whatever is in it is mines but with a traditional when I want my money a large chunk will come out for taxes when you try to get your money. Last thing I need is to give the IRS a large lump some at one time.
You “prove it” later when you file your taxes… you should be paying quarterly estimates on your taxes as a self employed person and then filing your taxes settles it up with the irs. You should consult a professional like a CPA if you need help with that. You don’t have to prove money is after tax to the company where you have your Roth IRA. I’m self employed and contribute to my Roth with money I earn because I’m also paying my taxes and assume I’ll be under the income limits this year.
Self employed in concrete construction. Started when I was 25 now 44. Started business in 2005 so you know what happened shortly after starting anyway something always came up in life in the last 20 years that prevented me from saving for retirement. I absolutely do not want to work past 65. Am I too late? I’m quite embarrassed about this and it gives me terrible anxiety. I can definitely afford to contribute the max and should have made that my priority from the jump but as I grow older my priorities get more clear. What use to be my main concern was paying off my home and I think I still want to continue doing that as I was one of the lucky ones that bought during the recession but I need to do more then that!
44 to 65 is still a lot of time if you start right now and make it a priority. If you can afford to max it out I would definitely do that! Don’t be embarrassed by starting late but definitely start and use these years while still working!
If I were you I would talk to your financial advisor, you could potentially max this out if you as the "owner" of your company would match 100% of your contribution to yourself as the "employee" but that would be a 401k, but I would definitely look into my options and not just IRA. Good luck!
What if u don’t make that much money now but make that in the future are you able to get the money still when u turn 59 1/2 and just not put any more money in the account
Turnkey Multifamily real estate would be my suggestion! Because it's about to become the best way to make passive income here shortly. Off market knowledge is always helpful ;)
You do not! Fidelity is great for managing your own accounts. But if you feel more confident they also have advisors and robo-advisor options. You can always contact them if you want an advisor.
@@PenniesNotPerfection I opened a CD in March 2023 but didn't specify it as a ROTH. Would that have been preferable (since I guess I will owe tax on the interest)? Is it too late to designate that as a 2022 Roth IRA?
Start small! Maybe you can contribute $5 or even $50 a month. This counts and eventually adds up too! Building the habit of saving and investing is important so when your income does increase you have that foundation. I was exactly there in my 20s and I started with contributing just a couple hundred the whole YEAR to my Roth IRA. Then I kept increasing my income with side hustles and when I made more I contributed more.
Ive got a question thats been on my mind lately. Ive been working stocks and watching my portfolio as it climbs and dips and i wondered, whats to stop me from making secondary or tertiary accounts to diversify and isolate assets. Maybe im overthinking this? But whats to stop me from opening multiple roth iras? If i have a roth can i open a traditional or run 401k? I know i have a few 401s laying arounf waiting to transfer to my roth.
Also something to consider is when you convert a traditional 401k into a Roth, you’ll pay taxes on it first, because 401k contributions are pre tax. You can rollover those stray 401ks into one traditional IRA brokerage account in order to invest. I opened a Roth for dividend investments so the dividend payouts, whether reinvested or not, won’t be taxed.
When you open a Roth IRA and you contribute money into it and choose where to invest it. Is it just like adding money stocks like s&p 500 and letting it grow over time or is it best to choose a more personalized stocks(if its even stocks) not sure will research more.
Best brokers to open a Roth IRA: - Vanguard. Old, but trustworthy. Also, customers are part owners. - Fidelity. The lowest costing index mutual funds for an IRA, and fractional shares for all ETFs and stocks. Easy for the middle class that doesn't travel. - Charles Schwab. Great for travelers, long term investors, and infrequent option traders. A person can buy fractional shares of S&P stocks too. - E*Trade. Great for long term investors, cash savings, and frequent option traders. A person can buy fractional shares of the top 100 ETFs too.
Roth IRAs are not done through an employer. An employer may offer something like a 401k or other plan but Roth IRAs are done on your own. Fidelity is a great option!
My wife has a ROTH IRA. Our joint income is 250k a year. Is the 6500 the limit for both of us? Or can I open my own account and how much will be the limit?
_Individuals_ may contribute $6,500 to their *_INDIVIDUAL_* Retirement Account, so $6,500 for his and $6,500 for hers. Your income places you near the MFJ [ $218k-$228k] phase out zone so the simplest thing to do is just perform a *_back door_* Roth IRA process.
Im 18 trying to get some sort of retirement fund I’m working a regular 9-5 at 16n hour what should I get started with ? I want to invest in some long term stuff aswell.
Everybody is talking about vanguard is great, Roth IRA is great. Blah blah blah… but what are the steps when you open it? What to invest in? Where to learn that?
@@Tatiana2011ifyI'm using wealthfront which is a robo advisor company. They ask you some questions about your salary and your risk about how much you're willing to lose or gain because the Roth IRA is mostly based by the stock market. Once they ask you your recommended risk, you can set up the initial amount you want to contribute and how much you want to contribute each week, month, half a year, etc. Wealthfront charges 0.25% each year for your account. But they distribute that percentage each month. Usually it's about a couple dollars a month.
@@Tatiana2011ifyhere are some companies that don't charge you nothing to open a Roth IRA account, but it's up to you on where you invest the money. It can be risky if you don't know where to invest. As mentioned, wealthfront handles my money by charging me a couple dollars a month
@Tatiana2011ify you can't go wrong by contributing into VOO and VTI. Both Vanguard ETFs are excellent. VOO is the S&P 500 ETF and VTI follows the entire US stockmarket. Another stock is QQQ which is a Technology ETF and VIG which will bring you dividends to reinvest. Good luck ❤
Hello, I just opened a ROTH IRA with Fidelity two months ago and contributed $1400. Now I see it is $1412.88 with dividends added. Can I just contribute yearly and leave it like this or do I need to invest or do something else? Thank you!
How is that going for you? I’m 18 and want to open a Roth IRA account but I don’t know where to go to open one and or which is the best place to open a Roth IRA at.
My son worked during summer of last year 2022. He is planning on opening a Roth IRA for tax year 2022 before April 18th 2023. The question I have is what is the maximum he can contribute? His W2 from one job is $600 on line 1 wages ,tips and compensation. His wages from another job W2 line 1 is $474.30. So is the maximum he can contribute : $1074( 600+474)?
Hi! So I’m new to all of this. But I deposited money into my roth account and invested it into a stock. Recently i got interest from it and it deposited into my bank account? Is that normal? Or is it supposed to deposit into the roth account? And do I have to pay tax on that interest that deposited into my bank account? I just don’t want to get taxed or penalized if it wasn’t supposed to go into my bank account. Sorry I’m learning how to invest.
I don't know why interest would be deposited into a separate bank account as it should stay inside the Roth IRA. It sounds like either something is set up wrong? I'm not sure but contact customer service at the place you opened the roth ira and they should be able to help you figure out the situation! It's ok to be confused while learning and that's a good catch and good questions. Definitely contact them asap for help to get it sorted.
There is also no earned income requirement to convert to a Roth. As long as you have a balance in an IRA, in theory, you can keep converting to a Roth as long as you like. so i can perceive the preference for 401(k)'s. But how best can i compound at least $2m in retirement savings without holding cash.
I'm in my late 50s. I'm leaving my Walmart job for a factory job. How do I put some of my 401K into a NEW and first time ever ROTH IRA? I want to use my new company's 401K plan BUT I want to put 12,000 into my ROTH. Any thoughts?
@@ianscianablo8507 Start first by contributing $7,500 to your 2023 Roth IRA. If your company offers company 401(k) match, contribute at least enough to receive that company 401(k) match. You may contribute up to $30,000 to your traditional/Roth 401(k).
Any thoughts? How best to maximize my first ROTH IRA? Switching jobs. I start a MUCH MUCH better paying job on monday! But how best to handle that outstanding 401K loan and still open my first ROTH IRA?
Your first comment did not mention a 401k loan. You need to take care of that before anything else. No one on the internet can advise you fully as they don't have the full picture (as your follow up comment shows). When you leave a job you do not take 401k money and just move it to a Roth IRA. You move the 401k over into a rollover IRA. This is a different account. You can do this through a company like Vanguard or Fidelity. If you don't know how, Capitalize can do it for you: capitalize.sjv.io/eKgZVD You can contribute the max amount for 2023 and then again in 2024 once you start eearning more money. If you don't have enough to max your roth and 401k my order of operations personally is to get the company match on 401k then max roth then go back and max 401k.
I’m sure that I’ve used both and had great experiences and love their lost costs and index funds. You can find bad reviews for almost all companies so it depends on what you value and what the reviews are saying.
I’ve been doing well w/my Roth. I didn’t hit the $6000 maybe I could since it goes to April. Great video everyone needs to know how retirement in general works 😊
Can I use stock capital gains from stocks to fund my Roth IRA account or from a regular job??? For example, a single person making $40k on a regular job annually and $200k gains on stocks, for short term capital gains, may still qualified to contribute to a Roth IRA correct???
I’m sorry to hear you felt it was too fast. Did you know you can adjust playback speed to slow it down, pause the video, or rewatch things? Hope that helps! Good job trying to understand and learn about Roth IRAs!
You can contribute as long as you have earned income in a year! It really depends on your personal situation and I can't give advice as I'm not a financial advisor.
What if your contributions are already invested? Can you sell your investments and withdraw only the amount of money you contributed without being taxed or penalized?
This may sound confusing, but I have fidelity (idk if it makes any diff with the others) but when they say we can withdraw our contributions, is it referring to EVERY penny I’ve put in initially? So if let’s say I had total of $1k contributions so far and I’ve used that $1k to invest as well but then I decided to withdraw my contributions, will that still be the full $1k or is it completely gone now since I invested it already. Does that make sense?
Contributions are the money you put in. If you put in $1,000 and that money made $50, your contributions are the $1,000 and not the $50 that money made.
Do you need to report ROTH IRA in tax return? I read that some says no. But I also read that if you don't, IRS will tax the money when you withdraw after retirement. So I am confused.
Q1 No IRS does not require you report Roth IRA as there is no line on Tax Form 1040 to do so and IRS already knows about your Roth IRA as your IRA custodian sends you and IRS Tax Form 5498 with details about your Roth IRA.
@@alrocky I found out that turbo tax asked for it for tax deduction. So only for those who qualified for deduction needs to enter but most people don't. Turbo tax made it confusing
Same question… does the Roth IRA also charge a fee? It’s not worth using an account that charges you when there are free options. What this video for my favorites: Where To Open A Roth IRA in 2023 (3 Best Places For New Investors) ruclips.net/video/6axJJyfyYhA/видео.html
🆕 NEW 2025 Roth IRA Income Rules & Limits: ruclips.net/video/mfq8MsNRjX8/видео.html
✅ Not sure how to invest? Find advisors here: penniesnotperfection.com/nectarine
✅ Roth IRA rules found here: www.irs.gov/retirement-plans/roth-iras
✅ Roth Savings Challenge plans: shop.penniesnotperfection.com/products/roth-ira-challenges-printable
✅ Watch more of my Roth IRA 101 videos: ruclips.net/p/PLhf4jGRzee7eo2gBLMxqAVJqlO7g5V1NS
Worth mentioning that it's best to contribute the full amount the first 3 to 4 months out the year, since the most valuable thing is time in the market. So if you can, max out your ROTH beginning of the year.
Yes, if you can. Most people cannot and that type of advice is a hurdle for them and they get discouraged and just don't do anything. Seeing as how the vast majority of people get discouraged from saving, I would prefer they do whatever it takes to sustain a contribution schedule, even if that means over the entire year. $100 per month is way more valuable than $0 for the entire year.
@@TIB1973🤫
This actually hurt me a little bit last two years. I maxed out early in the year, then the market trudged along lower than my buying price most of the two years. If I’d bought monthly I’d have gotten more for my money buying at the lower price. This year I’ve just got it set to autocontribute 625 per month to max it by the end of the year. My personal investment account that I contribute 700 per month to has out performed my Roth in growth for the last 2 years, just because I was still buying the lows vs riding them out.
@@codycampbell6417 I wish i own the whole IRA business. Because it is really like a scheme where if 50k dies out 1M without having anyone take the money they saved from IRA then the company is a billionaire in a year. We are all just sheeps to these Roth family.
Don’t if you are close to the maximum income, i fall into the income range and could only contribute about $1000 in 2023 (i had to wait to do my taxes)
I appreciate that you mentioned once the account is open and once you have put money in there, to SELECT YOUR INVESTMENTS or it just sits there. It is so important to know this and plan when getting started.
Yes!!! Sadly I’ve seen too many people not realize that and they put money in but it never grows because it wasn’t actually invested. 😭
Dang I'll have to watch out for this. My first 401k/Roth 401k is coming up. I used to always decline them, but nowadays I want to take advantage of them
@@PenniesNotPerfection is there a video on this? I’m planning to set up a Roth IRA for the first time
On how to specifically select investments? Not exactly because it's so different company to company. I might do some Vanguard and Fidelity tutorial videos in the next year if that can help people. But basically when you put money into a Roth IRA it goes into a settlement account so you have to actually buy/invest in something after that.
That is what I didn't know.....I open the account and a wk now and wasn't seeing any gains .....am on Etrade....thanks I have to lookup if to do ETFs
Wow this best video for learning Roth IRAs
, this lady explains it so well better than others
very educational, digestible, and loved the little visuals and editing. thank you!
Glad you enjoyed it!
Investing in a Roth IRA proves advantageous due to its funding with after-tax dollars, allowing your contributions to accrue tax-free over time. Upon withdrawing funds from your Roth IRA during retirement, you can avoid taxation, enabling you to retain a larger portion of your earnings. Compounding refers to the concept of earning interest not only on your principal investment but also on the interest that accumulates from that investment. Consequently, this process facilitates exponential growth in your investment over time. Hence, initiating investments at an earlier stage provides your investment with more time to benefit from compounding and achieve significant growth.
I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Do you have a 401k? you should contribute to your retirement diligently, or better still look into financial planning
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.
Appreciate your video. Extensive but simple.
Thanks
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I'm not a financial adviser, and this is not financial advice. This is simply my experience.
I retired at 54. One of the larger mistakes I made was trying to max out my 401k. This will come back to bite you when you finally have to pay taxes on that money, and it limits you greatly before age 59.5.
If I had to do it all over, I would invest like this;
1) Invest in 401k to get the max company match. Roth version if it's available.
2) Max out my ROTH IRA.
3) Max out an HSA if I qualify.
4) all other investments in a normal brokerage account. (maybe not all of it if my 401k is a ROTH)
Believe it or not, a normal brokerage account has a HUGE tax advantage over a traditional ira or 401k.
Wouldn't all our money "after tax" earnings be tax exempt?😮
Think it's time for a Tea party !!
Exactly what I was needing to know thank you
I'm 22, I make good amount for my age and I just graduated college and got a job as as electrical engineer, I contributed up until my company stops matching to my 401k, they offer a Roth 401k . I expect my income to go way up as I'm older , not sure if I should invest into a Roth 401k or a Roth IRA. New to this. Thank you. Any help will be appreciated.
Rule of thumb to contribute at least 10-15% of income toward retirement. Favor contributing to Roth 401(k) when in relatively low tax bracket and favor contributing to traditional 401(k) when in relatively high tax bracket. If making
Regular IRA good too !
Thats before taxes ! You'll pay tax when you take out. Only on that money you took out !
Roth after taxes.
Contribute in your 401k up to the company match %, then from there put $250 per paycheck into your Roth IRA account to max it out. MAKE SURE you actually buy an index fund every time you put money in or else it just sits uninvested and doesn’t grow. There’s lots of video’s on choosing an index fund but it’s not complicated, I buy VOO every 2 weeks and don’t have to think about it.
Update: I just finished the video and realized she said the same thing 😂
Awesome content. Just subscribed. You mentioned you had a video of your personal roth ira. Do you the link or what's the title of the video?
Hi ,
Good morning 😊,
can please tell me what is 401k catchup and 401 Roth.
Is this worth doing late in life? I'm currently 50 yrs old. I've never made enough to save for retirement. I'm making decent money now, but not anything fantastic. My contributions will be small. Thinking why bother?
Well, you are 50 now and if you retire at 65 you will have 15 years of contributions. That might be small depending on what you put in and the growth, but wouldn't you rather have something than nothing? Even a few thousand a year added to social security can help people out.
And maybe your decent money you make now keeps growing and you can contribute more. 15-20 years is a long time and can make a difference.
I definitely recommend doing something rather than going the route of thinking "why bother".
I’ll personally say it’s worth investing still. Let’s say you retire at 59 and you start investing $300/month, in 9 years that would be $32,400 just from your month and if you invested into some good assets you could possibly have $45-50k. Might not be a lot of money to never have to work again but it would most definitely come in handy for a while
Thank you so much for this video!!!! Appreciated.
Glad it was helpful!
Do u have to max it out every year? What if someone isn’t able to max it out based on situation
You don’t! I went many years without maxing it out and just contributing what I could. It still adds up over time so putting in what you can is great!
What is better Traditional or Roth in a emergency for medical before retirement. What if you need the money for medical and ran out of money loss of job due to illness
GREAT Video!
If you are over 50, you can invest up to 7 k per year.
*$7,500* for those 50+ in 2023
Your gods sent . Thank you 🙏🏾
Great information, thank you !
Glad it was helpful!
I enrolled in the class you linked in the description of this video! I have a question though (I only watched the free course so far, not the one I bought). If you buy index funds like the course suggests, when you add more money into the Roth IRA each month, does it automatically get added to the index fund ticker you already bought? Or do you have to buy them (or a different one) everytime you make a contribution? Sorry I am brand new to this (and I’ll be 40 this year 😢)
My answer might not be super helpful because it depends on the brokerage! They all are different so it depends on how it allows you to set up contributions...many times it goes to the settlement account instead of automatically buying the index fund. So you would need to make sure your money is actually buying the investment not just sitting there waiting.
Hi! I'm a little bit late to the party. I have a Merrill Lynch Edge IRA now and I bought my ETFs the other day. But I was told, since I'm self directed I can't automate future investments via ETFs. I just planted my older 401K into iRA and made my purchases. But I wish to do DCA now. How can I automate DCA via ML Edge? Any thoughts?
I don’t know anything about Merrill lynch specifically. You definitely should talk to them!
I went to my bank to contribute for the year on my IRA.My bank said, I can’t yet because I opened a 23month CD IRA. Is it different from a Roth IRA? Am I allowed to touch it after it matures? I asked my bank this. They couldn’t answer me.
Seems peculiar your bank could not answer your question in a way that makes sense to you. Have you already contributed $7,000 to your 2024 IRA?
If you are a sole proprietor LLC owner do I have to open a ROTH IRA under my LLC or can I open it with my personal checking account if I'd like?
Roth IRAs are not connected to your employment/business like a 401k. You can open it with your personal income/checking account.
What is the deadline to contribute for the previous year and the current year?
For 2024 you can contribute until April 15, 2025. You can no longer contribute for 2023. For 2025 you can start January 1, 2025.
@@PenniesNotPerfection thanks for the response also for the contribution limits is that based on the previous years tax filing amount?
Also check with your employer as many have a Roth 401k option that does not have the same earning limits. For me I have a my normal 401k to get the match, but I also have my Roth 401k through work that is after tax.
Yes, more are offering the Roth 401k now which is great. Happy to see it’s catching on.
Can you tell me if it’s better to open up a non-market Roth or a regular market Roth?
Thanks for explaining.
Hello, I’m new to this and understanding Roth IRA. Do I set a goal for how much I want to put in my account each month ? Do I have to hit the $6,000 landmark for 2023?
You can contribute up to $6500 for the 2023 tax year. As for contributing per month, it equals to $541. Rule of thumb is to contribute 10-15% as a minimum out of your monthly salary.
I've been contributing the maximum is allowed. But in the future if i can't contribute that much, i can lower that amount or not contribute at all. There's no penalty if you don't contribute.
You don’t have to hit the maximum at all. Any amount you can contribute is great and automating each month could help you with hitting your goal.
What if you go over. I put 15 percent in and will probably put in more than the allowed amount. What is the penalty for going over ?
I appreciate the insights. My only "complaint" may be the suggestions are rather broad and I'm looking for more specific suggestions and examples.
Very fair! Like what? It’s very hard to make a video for everyone because obviously situations vary.
Very cool name for the channel :-)
Thanks!
How do you feel about “auto investing”
It’s fantastic! Setting up automated contributions is the best option for most people. Assuming that’s what you meant but if not please elaborate.
Do I have to max out or can I contribute something $200 a month ?
If i have $20,000 and want a new IRA do i have to open 3+ accounts initially? We all know the max annual contribution based on your age but what can you put in when open a new account?
You can’t put in more than the years contribution so opening 3 accounts would not allow you to put in $20k at once. Because the deadline hasn’t passed for 2023 contributions yet you could open a Roth IRA now and put in $6500 for 2023 and $7000 for 2024 all at once.
Open a 401k account if your job matches 4%, i wish i could have done it sooner.
Definitely! Never miss out on the match!
Can I transfer my strong stocks into my Roth IRA, without having to pay taxes on those stocks?
I'll be staying tuned to see if someone actually helps you get this question answered!
Only cash or checks can fund a Roth IRA
Yes you can buy single stocks like Tesla or Google in your Roth IRA but you want to base the majority of your contributions into a stable ETF like VOO or VTI. The goal is to make money for your future and not put your money at risk. I have bought Tesla and Apple in my Roth IRA but the majority of my portfolio is in Vanguard ETFs
And depending on your brokerage you should be able to transfer your funds into your account from another brokerage but you can't transfer stocks into a Roth IRA.
I don’t know anything about this honestly since my parents we never financially stable, if my bank offers Roth IRA is that recommended to open up an account with them? I hear everyone mentioning fidelity & vanguard, but not actual bank chains for example pnc Wells Fargo, Bank of America
Banks are not generally preferred for Roth IRAs! I would never use Wells Fargo as well. Most brokerages have better investment offerings, lower fees, and better service.
@@PenniesNotPerfection thank you!
In the year 2024 the annual contribution limit has gone up from $6500 to $7000.
It has, yes! this video is older so I should probably change the thumbnail, but I've made a follow up video about the 2024 increase.
Just to be clear. Does the year marker for Roth IRA starts in april?
Being that it is 4/7/23-would it be too late to create a Roth IRA and do the full contributions (6k) for 2022 ?
Appreciate any insight. Thank you!
The ability to contribute for a year ends the next year when taxes are due. Generally most years it is April 15. As an example for this year you should still be able to contribute the entire amount for 2022 until April 15, 2023.
Yes, you can even contribute the full $6,500 on April 15, 2024 for 2023
Not too late. Do it before tax date
When opening a Roth, could dividend or interest income be considered earned income when contributing to a roth?
no
can’t cheat though all of life
What if I make less then 50,000 on my regular 9 to 5 . Can it affect me even opening an account ?
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions.
I subscribed your channel 😊
Very helpful
So I deposited $6K into a Fidelity Roth IRA. When do I get taxed? Is it being subtracted from the 6K?
Money you put into a Roth IRA has already been taxed since it came from your paycheck. Fidelity won't be subtracting anything.
Even if I deposited from my bank account? The system knows to tax from my paycheck??
I'm not sure what "system" you are thinking exists. The money in your bank account came from your paycheck, right? Your paycheck is post tax income because your tax is withheld already unless you've messed up your withholding.
Invested completely in my Roth in Fidelity 500 index fund and forget it. Invest invest invest and invest some more. And leave it leave it leave it. 👍🏻✌🏻
Good job!
So, what does after tax money for a Self Employed person? If a Self employed doesn't receive a check from an employer how do you prove that you already paid taxes on it?
That is literally my exact question 😂
@@Kylearamos65 Roth IRAs are taxed when money goes into it vs a traditional IRA is taxed when money is taken out. I prefer the roth because I know whatever is in it is mines but with a traditional when I want my money a large chunk will come out for taxes when you try to get your money. Last thing I need is to give the IRS a large lump some at one time.
You “prove it” later when you file your taxes… you should be paying quarterly estimates on your taxes as a self employed person and then filing your taxes settles it up with the irs. You should consult a professional like a CPA if you need help with that.
You don’t have to prove money is after tax to the company where you have your Roth IRA.
I’m self employed and contribute to my Roth with money I earn because I’m also paying my taxes and assume I’ll be under the income limits this year.
@@PenniesNotPerfection what if i am self-employed and pay taxes every October can i still open a roth or taxes have to be paid quarterly
Self employed in concrete construction. Started when I was 25 now 44. Started business in 2005 so you know what happened shortly after starting anyway something always came up in life in the last 20 years that prevented me from saving for retirement.
I absolutely do not want to work past 65. Am I too late? I’m quite embarrassed about this and it gives me terrible anxiety. I can definitely afford to contribute the max and should have made that my priority from the jump but as I grow older my priorities get more clear.
What use to be my main concern was paying off my home and I think I still want to continue doing that as I was one of the lucky ones that bought during the recession but I need to do more then that!
44 to 65 is still a lot of time if you start right now and make it a priority. If you can afford to max it out I would definitely do that! Don’t be embarrassed by starting late but definitely start and use these years while still working!
If I were you I would talk to your financial advisor, you could potentially max this out if you as the "owner" of your company would match 100% of your contribution to yourself as the "employee" but that would be a 401k, but I would definitely look into my options and not just IRA. Good luck!
What if u don’t make that much money now but make that in the future are you able to get the money still when u turn 59 1/2 and just not put any more money in the account
How high can the yearly max amount get to? Let’s say 10 years from now it could possibly be 8000 a year?? 😩
It could be that yes. It doesn’t go up every year but they do increase it regularly to keep up with inflation.
Turnkey Multifamily real estate would be my suggestion! Because it's about to become the best way to make passive income here shortly. Off market knowledge is always helpful ;)
I would like to open my first Roth IRA with Fidelity. I know nothing about investing. Do I need a financial advisor to manage that account?
You do not! Fidelity is great for managing your own accounts. But if you feel more confident they also have advisors and robo-advisor options. You can always contact them if you want an advisor.
@@PenniesNotPerfection thank you so much for replying
@@PenniesNotPerfection
I opened a CD in March 2023 but didn't specify it as a ROTH. Would that have been preferable (since I guess I will owe tax on the interest)? Is it too late to designate that as a 2022 Roth IRA?
Any recommendations for someone in their 20s living paycheck to paycheck?
Start small! Maybe you can contribute $5 or even $50 a month. This counts and eventually adds up too! Building the habit of saving and investing is important so when your income does increase you have that foundation.
I was exactly there in my 20s and I started with contributing just a couple hundred the whole YEAR to my Roth IRA. Then I kept increasing my income with side hustles and when I made more I contributed more.
@@PenniesNotPerfection thank you so much. I have so much research to do, but I appreciate your response a ton!
Does a ria help u when u file ur taxes each year if u owe taxes ?
That would be the role of a tax professional
Are you asking about an *IRA?*
Ive got a question thats been on my mind lately. Ive been working stocks and watching my portfolio as it climbs and dips and i wondered, whats to stop me from making secondary or tertiary accounts to diversify and isolate assets. Maybe im overthinking this? But whats to stop me from opening multiple roth iras? If i have a roth can i open a traditional or run 401k? I know i have a few 401s laying arounf waiting to transfer to my roth.
You may have as many Roth IRAs as you want however the contribution limit is $6,500 year not $6,500 per account.
Also something to consider is when you convert a traditional 401k into a Roth, you’ll pay taxes on it first, because 401k contributions are pre tax. You can rollover those stray 401ks into one traditional IRA brokerage account in order to invest. I opened a Roth for dividend investments so the dividend payouts, whether reinvested or not, won’t be taxed.
When you open a Roth IRA and you contribute money into it and choose where to invest it. Is it just like adding money stocks like s&p 500 and letting it grow over time or is it best to choose a more personalized stocks(if its even stocks) not sure will research more.
the beauty of diversifying.
How to raise a six figure capital fast for any business to aid a good retirement portfolio
Can i open one for each on of my 3 girls are is the limit just one
You can open them for anyone that has earned income. If your girls don’t earn money they can’t contribute until they do.
Okay thank you
Can you change where it gets invested over time?
You can change your investments at any time. You’re in control of what you invest the money in.
Best brokers to open a Roth IRA:
- Vanguard. Old, but trustworthy. Also, customers are part owners.
- Fidelity. The lowest costing index mutual funds for an IRA, and fractional shares for all ETFs and stocks. Easy for the middle class that doesn't travel.
- Charles Schwab. Great for travelers, long term investors, and infrequent option traders. A person can buy fractional shares of S&P stocks too.
- E*Trade. Great for long term investors, cash savings, and frequent option traders. A person can buy fractional shares of the top 100 ETFs too.
Love the first two and have good things about the others (no personal experience tho)!
What if you can only contributes $3000 every fiscal year.?
That’s great! Do it! You don’t have to max it out. My first ten years I didn’t max it out.
I'm 22. Should I start roth ira through my employer or other software like fidelity?
Roth IRAs are not done through an employer. An employer may offer something like a 401k or other plan but Roth IRAs are done on your own. Fidelity is a great option!
My wife has a ROTH IRA. Our joint income is 250k a year. Is the 6500 the limit for both of us? Or can I open my own account and how much will be the limit?
_Individuals_ may contribute $6,500 to their *_INDIVIDUAL_* Retirement Account, so $6,500 for his and $6,500 for hers. Your income places you near the MFJ [ $218k-$228k] phase out zone so the simplest thing to do is just perform a *_back door_* Roth IRA process.
Do you recommend going to a bank for more information?
Im 18 trying to get some sort of retirement fund I’m working a regular 9-5 at 16n hour what should I get started with ? I want to invest in some long term stuff aswell.
Also I already filed for taxes and everything if that has something to do in play of this
@@juanflores3792 You can still contribute $6,000 to your 2022 Roth IRA assuming you made at least $6,000 in 2022.
Thanks for this simple little beginners tips. I’m doing heavy research before I make concrete decisions.
Always smart to do your own research and fully understand anything you are doing with your money!
So you can contribute ANY amount every year as long as it doesn’t go past the limit? There’s no rule on how much to contribute each year ?
Yes! You can contribute $500 or $1,000 if that’s all you have. You just can’t go over the limit of what you’re eligible to contribute that year.
Choose and designate your beneficiary wisely but don't not do it!
You'll save everybody a lot of time and effort after you're gone.
Good video, but there's no mention to discuss with a professional which can further enhance a person's options
Everybody is talking about vanguard is great, Roth IRA is great. Blah blah blah… but what are the steps when you open it? What to invest in? Where to learn that?
@@Tatiana2011ifyI'm using wealthfront which is a robo advisor company. They ask you some questions about your salary and your risk about how much you're willing to lose or gain because the Roth IRA is mostly based by the stock market.
Once they ask you your recommended risk, you can set up the initial amount you want to contribute and how much you want to contribute each week, month, half a year, etc.
Wealthfront charges 0.25% each year for your account. But they distribute that percentage each month. Usually it's about a couple dollars a month.
@@Tatiana2011ifyhere are some companies that don't charge you nothing to open a Roth IRA account, but it's up to you on where you invest the money. It can be risky if you don't know where to invest. As mentioned, wealthfront handles my money by charging me a couple dollars a month
@Tatiana2011ify you can't go wrong by contributing into VOO and VTI. Both Vanguard ETFs are excellent. VOO is the S&P 500 ETF and VTI follows the entire US stockmarket. Another stock is QQQ which is a Technology ETF and VIG which will bring you dividends to reinvest. Good luck ❤
Hello,
I just opened a ROTH IRA with Fidelity two months ago and contributed $1400. Now I see it is $1412.88 with dividends added.
Can I just contribute yearly and leave it like this or do I need to invest or do something else?
Thank you!
Q1 do I need to *invest* or do something else?
A1 Yes you need to invest it
How is that going for you? I’m 18 and want to open a Roth IRA account but I don’t know where to go to open one and or which is the best place to open a Roth IRA at.
@@alrockywhere to invest?
@@FUNNYANIMALVIDS174 You can use S&P 500 Index fund or Total US Stock Market Index fund as your core or majority holding.
When do you pay taxes on the Roth. Upfront or at tax time?
Upfront. The money you received from paycheck already had taxes paid upfront.
This video is for those who want to know about the rules of Roth IRA without understanding the rules of Roth IRA.
My son worked during summer of last year 2022. He is planning on opening a Roth IRA for tax year 2022 before April 18th 2023. The question I have is what is the maximum he can contribute?
His W2 from one job is $600 on line 1 wages ,tips and compensation. His wages from another job W2 line 1 is $474.30.
So is the maximum he can contribute : $1074( 600+474)?
He may contribute $1,074 toward his 2022 Roth IRA. You can help him fund that amount if he's unable to.
Hi! So I’m new to all of this. But I deposited money into my roth account and invested it into a stock. Recently i got interest from it and it deposited into my bank account? Is that normal? Or is it supposed to deposit into the roth account? And do I have to pay tax on that interest that deposited into my bank account? I just don’t want to get taxed or penalized if it wasn’t supposed to go into my bank account. Sorry I’m learning how to invest.
I don't know why interest would be deposited into a separate bank account as it should stay inside the Roth IRA. It sounds like either something is set up wrong? I'm not sure but contact customer service at the place you opened the roth ira and they should be able to help you figure out the situation! It's ok to be confused while learning and that's a good catch and good questions. Definitely contact them asap for help to get it sorted.
I watched this video so i didn’t have to do research and then all she did was tell me to do research lol
Ha, well the problem is that there are so many options. No one right solution for everyone and legally you have to ensure your own compliance.
Can you open a Roth IRA if you’re self employed?
Yes! I’m self employed and contribute to one.
There is also no earned income requirement to convert to a Roth. As long as you have a balance in an IRA, in theory, you can keep converting to a Roth as long as you like. so i can perceive the preference for 401(k)'s. But how best can i compound at least $2m in retirement savings without holding cash.
Wish I learned about this when I had my first job!
Yesss! It's so important especially starting early!
Can you open one with you’re bank ?
Some banks do offer them but not all. Usually brokerages are better with services, fees, and investments offered.
I'm in my late 50s. I'm leaving my Walmart job for a factory job. How do I put some of my 401K into a NEW and first time ever ROTH IRA? I want to use my new company's 401K plan BUT I want to put 12,000 into my ROTH. Any thoughts?
Have you already contributed $7,500 to your 2023 Roth IRA?
no. I have no ROTH yet.
@@alrocky
@@ianscianablo8507 Start first by contributing $7,500 to your 2023 Roth IRA. If your company offers company 401(k) match, contribute at least enough to receive that company 401(k) match. You may contribute up to $30,000 to your traditional/Roth 401(k).
Any thoughts? How best to maximize my first ROTH IRA? Switching jobs. I start a MUCH MUCH better paying job on monday! But how best to handle that outstanding 401K loan and still open my first ROTH IRA?
Your first comment did not mention a 401k loan. You need to take care of that before anything else. No one on the internet can advise you fully as they don't have the full picture (as your follow up comment shows).
When you leave a job you do not take 401k money and just move it to a Roth IRA. You move the 401k over into a rollover IRA. This is a different account. You can do this through a company like Vanguard or Fidelity. If you don't know how, Capitalize can do it for you: capitalize.sjv.io/eKgZVD
You can contribute the max amount for 2023 and then again in 2024 once you start eearning more money. If you don't have enough to max your roth and 401k my order of operations personally is to get the company match on 401k then max roth then go back and max 401k.
I love this video my poor roth ira is down soooo much :(
I hear ya!
Same same! That’s why I try to keep the long term perspective! Starting investing in 2008 really helped considering what happened then lol
I sell if I see a pitfall. You can buy it right back because there is no wash sale rules.
Can i open an initial IRA with 100k
No because you can only put in the max for the year. If you open one now before April 15 you can add 6,500 for 2023 and 7,000 for 2024.
Thank you@@PenniesNotPerfection
If im a 19 yr old college student, enemployed can i apply for roth ira with grants ive recieved from fasfa?
It has to be earned income.
I've seen terrible reviews for Fidelity and vanguard. are you sure?
I’m sure that I’ve used both and had great experiences and love their lost costs and index funds.
You can find bad reviews for almost all companies so it depends on what you value and what the reviews are saying.
If you max out a Roth and a 401, come retirement could you use the Roth to pay the 401 taxes?
you can use the ROTH to pay for whatever you want, taxes or new corvette. Whatever.
@@kona6451for kids education?
@@aallearn4927 anything, its your money, all of it.
exactamente lo que buscaba
I’ve been doing well w/my Roth. I didn’t hit the $6000 maybe I could since it goes to April. Great video everyone needs to know how retirement in general works 😊
Can I use stock capital gains from stocks to fund my Roth IRA account or from a regular job???
For example, a single person making $40k on a regular job annually and $200k gains on stocks, for short term capital gains, may still qualified to contribute to a Roth IRA correct???
As long as you or your spouse has earned income (a job) you may contribute to Roth IRA.
@@alrockythey get that part they have a job aka earned I. They are asking if they can still qualify because they have 200k in capital gains
straight to it, thank you
This is way too fast to be understandable.
I’m sorry to hear you felt it was too fast. Did you know you can adjust playback speed to slow it down, pause the video, or rewatch things? Hope that helps! Good job trying to understand and learn about Roth IRAs!
I don't have a consistent job and I was hoping to open a roth IRA, is this a good decision?
You can contribute as long as you have earned income in a year!
It really depends on your personal situation and I can't give advice as I'm not a financial advisor.
What if your contributions are already invested? Can you sell your investments and withdraw only the amount of money you contributed without being taxed or penalized?
This may sound confusing, but I have fidelity (idk if it makes any diff with the others) but when they say we can withdraw our contributions, is it referring to EVERY penny I’ve put in initially? So if let’s say I had total of $1k contributions so far and I’ve used that $1k to invest as well but then I decided to withdraw my contributions, will that still be the full $1k or is it completely gone now since I invested it already. Does that make sense?
Contributions are the money you put in. If you put in $1,000 and that money made $50, your contributions are the $1,000 and not the $50 that money made.
@@PenniesNotPerfection So in other words, even if I start “losing” money investing, I’m not really losing my contributions, correct?
You can lose what you've contributed when investing. That's why you have to pick investments that match your risk tolerance.
@@PenniesNotPerfectiondo l have to invest in anything at all?
Do you need to report ROTH IRA in tax return? I read that some says no. But I also read that if you don't, IRS will tax the money when you withdraw after retirement. So I am confused.
Q1 No IRS does not require you report Roth IRA as there is no line on Tax Form 1040 to do so and IRS already knows about your Roth IRA as your IRA custodian sends you and IRS Tax Form 5498 with details about your Roth IRA.
@@alrocky I found out that turbo tax asked for it for tax deduction. So only for those who qualified for deduction needs to enter but most people don't. Turbo tax made it confusing
@@GraysonVoisinet *Traditional* IRA may qualify for a tax deduction but *_Roth_* IRA are not tax deductible.
@@alrocky IRA comment champ
@@GraysonVoisinetTurboTax ask me if i contributed to a Roth IRA. I selected yes and they added about $80 into my tax return
Love the color of your sweater!
Thank you!!
I just started a roth IRA on Acorns. Is this a good idea?
Are you paying $3 monthly fee? If so the answer is *no.*
Same question… does the Roth IRA also charge a fee? It’s not worth using an account that charges you when there are free options.
What this video for my favorites: Where To Open A Roth IRA in 2023 (3 Best Places For New Investors)
ruclips.net/video/6axJJyfyYhA/видео.html
I like your video but you talk WAY too fast! Slow down!
Thanks for watching! You can adjust the playback speed on any video to make it slower.