Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 40+ years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I feel frustrated watching my portfolio underperform as I often jump in and out of stocks. Warren Buffett’s advice that $114 invested in the S&P 500 in 1942 would be worth $400,000 today. How can I adopt a consistent, long-term approach to finally build meaningful wealth?
It's normal to feel frustrated. Consider a long-term approach with index funds or ETFs that track the S&P 500 for steady growth and lower fees. A financial advisor could also help you build a strategy aligned with your goals.
My financial advisor helped me shift from frequent trading to a steady, long-term approach with S&P 500 index funds. In just two years, my portfolio grew from $200,000 to $380,000. Their guidance on consistency and patience transformed my results-I’m finally on track to build lasting wealth.
Of course! My advisor’s name is *Jennifer Leigh Hickman* . Just search her name online-Hickman has been instrumental in helping me create a solid, long-term investment strategy.
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
That’s true, Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, , and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks
Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
I have about $250k distributed across various investing accounts, with 35% of my capital invested in an IRA and 25% in index funds. In Q3, 2023, I suffered a great deal. I'm just searching for methods to get better in 2024 right now.
Adding JEPI and JEPQ is smart for nearing retirement. As for staying committed to higher-risk investments, it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
I agree! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future. That’s what works for my spouse and I. We've made over 80% capital growth minus dividends.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
I believe that there are techniques that may be implemented for consistent gains regardless of the state of the economy or the market, but these executions are often made by investing professionals or advisors with expertise after the 2008 crash.
The adviser I'm in touch with is *Jude Ryan Mcdonough* He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me his strategy works hence my result. He provides entry and exit point for the securities I focus on.
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, so your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 2 million dollars
I bet you didn't do that without a financial advisor. I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
I have worked with a couple of financial advisors over the past few years. First started out with a guy that worked for Bridgewaters. Same wall street rippers. I then switched to an independent advisor, *Sharon Louise Count* and, I won't even deny it, she's been really extraordinary.
I have an $800k portfolio from my old job and retired six years ago. Lately, it’s been doing poorly, with only 6% growth in the past three years and I feel stuck. I desperately need to revamp my investments. Any advice on what to do with my money would be greatly appreciated.
This is what people that handle their p0rtfolio themselves go through. I will advice you get yourself some fiduciary advisōr to help you make better p0rtfolio decisions.
I agree, investing with the help of an advisor set me up for life with about $1.6m currently in stock portfolio. I max out my 401k and have few properties. I worked hard as a language tutor for 32 years, and my salary was just over 80k annually. It all boils down to consistent regular investing to minimize risks and maximize growth.
Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks at a discount since the beginning of the year and yet the cycle continues with more losses, I know the idea is to hold long term but God I could really give anything to see some growth happen to my portfolio.
@US ARMY Autumn Lynzi Smith is the analyst/investment-adviser. She has been of great help and her tutelage has brought me to a higher understanding of profit generation. You can look up her name on the net for her page and reach out. Understands the job perfectly
Well we are in an unexpected recession. Those lasts for a little over a year usually. Depressions lasts for a few years. Hold and keep putting in. The bottom will reveal itself and a boom will happen after. Bull markets make you money. Bear markets make you rich
Bots messaging each other, if you want to start up for real, then *Christy Vallen D'souza* is one of the best financial advisor and investments portfolio manager I know, plus you can withdraw from your portfolio at will. This is because I have tested her services firsthand. She has never failed. I recommend her to every beginner. She can be trusted. Just search her complete name on the web and yo will find her website.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed managers and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute, I'm still at a crossroads deciding if to liquidate my $338k stock portfolio.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
I thought you are penalized if you withdraw earnings before 59.5? You can withdraw your investments without problem, but any earnings will have to be after turning 59.5.
Most of my $2m portfolio is in (20% Index funds, 20% CD's 30% Bonds/T-bills and other assets) but I want to explore different strategies for better growth with the current market, just here for ideas
This is the exact thought process of persons handling their portfolio themselves. I will advice you engage guidance to help you make smarter portfolio decisions.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds. Currently, my IRA and cash accounts are far more than I expected for my future retirement. I can easily handle a worst-case 80% stock crash, Thanks to my CFA.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Early retirement is the dream. I refuse to accept that I have to be at the end of my life to enjoy time freedom. Let's hustle to financial independence!
@Human Made If you are new to the markets, I'd advise you get some kind advise or assistance from a financial consultant or Investment coach. That’s the most ideal way to jump into the market in these uncertain times.
@@middaynap9240 I agree with this, Investment coaching sounds like a great idea, thought about it before but never knew how to go about it, Have you used a coach? what is the experience like?
@@teppertimmy1069 can’t disclose too much , but yea I’ve been using a coach since March 2020, growing my portfolio from $275k to $700k approx. It is pretty straightforward, not as complicated as it used to be.
Engaging with books has significantly elevated my perspective on investing. True wealth isn't built through mere savings; financial freedom stems from strategic investments. I've learned that accumulating wealth hinges on making prudent investment decisions|
Discovering your familiarity with her was a delightful surprise. Over the last few months, I've had the privilege of closely collaborating with Jenny Pamogas Canaya. She has not only facilitated significant profits but also served as an exceptional mentor and trader. Her remarkable skill in navigating diverse market situations leaves me thoroughly satisfied with our partnership!
While your 401k and IRA account would likely continue to grow even after you stop contributing to it, that growth might be limited by the Market, your personal plans and also other factors. For this I see need for annuities. I still will like to know how to compound $2m and above in retirement without holding cash.
Bond and other fixed income asset if properly managed could produce the yield needed to provide solid income for retirement. The importance of a continuous wealth accumulation and ensuring financial stability is why boomers turn to advisors in retirement planning.
It is important to consider a financial planner early, before the last year of retirement. I am currently working with a financial planner called Jason Herman Pierce. I really appreciate his cutting edge financial strategies. It really works for me. His vast knowledge of international market and tax implications allow us to moderately diversify my investment portfolios, minimize tax liabilities and access new markets with potential high returns. And I am two year from retirement and my financial goals is secured.
Please how can I get in touch with the advisor guiding you. I am close to retiring and I didn't make proper planning and investment for retirement. Thinking about now scares me. I have to start somewhere. It is better late than never.
I have made research on him. His credentials are impressive. I have sent an email and he replied. We've booked an appointment. I am very grateful. Thanks.
Man…now THIS is what should be taught in schools! If it wasn’t for just listening to other people around me talking about managing finances i never would have know what a Roth IRA was! Thank-you for your explanations!
You saying that starting in your late 20s isn't too late realy helps. There are times where I feel like I don't have enough time but then I realize that I still have more income to earn and then that will change my contributions which whill in return increase my investment. Great video Humphrey!
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
@@Tsunaniis-j5l I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@@MakeamericaGreatagain-h7j my 401k has particularly lost everything gained since 2019, who is your coach if this is not too much i'm asking?Been doin sum research lately.
@@DreamweaverShade-h9p My advisor is NICOLE DESIREE SIMON , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@MakeamericaGreatagain-h7j she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
I really appreciate seeing the perspective of someone who started later with investing. It’s very intimidating to see these type of videos from people well into their journey who started maxing out their Roth IRA at age 18. I’ve had my Roth for about five years now, but only started seriously contributing the past two years or so. This will be the first year that I finally max it out after slowly increasing my contributions each year. Thank you for sharing!
I am 50 with approx.$20k in my Roth and just now maxing my annual contributions. I crunched the numbers and could have $300k by 70 in it if I only get a meager 4% annual return on it as a worst case scenario. I hope that helps.
First thing you should check is to see if your employer offers company matching in a 401K. Go for that first because that is FREE (nontaxable) money. Next, pay off your student debt, if any. And pay that off ASAP. Next, open an HSA through your employer (if they offer one) and start contributing. Everyone needs health/dentalcare at some point and you are no exception. It's nice that Uncle Sam pays a small part of that healthcare bill. Then if you have money, open a ROTH.
setup automatic checking contributions weekly - even if it's $50 it will change your life. It literally changed my life. I dont even notice the money anymore. 1x a year or so I will increase the value 1% to 10%. Best of luck!
Engaging the services of a professional stock broker in your trades is the best way to begin. As a beginner I made my first big millions in the stock market with no prior experience, I was introduced to an Expert broker/Financial advisor who assisted me in achieving so much. Her name is Suzanne Stephens Ellis, I recommend her to beginners for all types of investment, including retirements. Please avoid running losses trading on your own.
Just as I said, SUZANNE STEPHENS ELLIS is one of the best stock broker and investments portfolio manager I know. This is because I have tested her services first hand. She has never failed me or anyone I recommended to her. She can be trusted.
That's right! There is no age is too late. I started my Roth at 35. I felt like it was late, but I don't regret it because I enjoyed the rest of my younger life doing things I like doing.
It's definitely a diversified portfolio, just way too conservative in my opinion. I would have more VOO and less VTI, and almost half of the thing is in international, I think that's way too high considering how much better the US stock market is compared to the world.
I’m 35 and watching this video so i can finally move forward on it mysefl I’m ready to max it out and invest. Any assistance would be greatly appreciated
@@brcleaningcompany2566 that’s awesome. I opened one with a Robo advisor through Betterment, and one I can use to manually select stocks through TD Ameritrade. I hear Fidelity and Vanguard are pretty good choices as well
@@alexm1841 sucks because it’s something I’m not grasping and I’m usually a fast learner lol,, am i suppose to open a Roth IRA add 6k to it, is that 6k inside the Roth IRA the same i use to buy stocks and index from it? Or do i max it out at 6k then use additional money for whatever stocks or index i want to add to it??? The whole average growth of 8-12% thing
@@brcleaningcompany2566 I had just recently opened mine as well. From what I learned is That yes you use this Roth IRA to buy or trade stocks. You don’t have to max it out and no you cannot add anymore once you max it out, but you can invest it to let it grow
Nice video very good information. I just started a Roth IRA and I'm in my mid 40s. You're absolutely correct you are never too late to start investing. Great tips thank you.
Great Video . According to Robert Kiyosaki the best investment one can ever make is in taking the time to truly understand how one's finances work. Too many people are much more interested in the quick-hitting scheme, or trying to find a short-cut to real wealth.
The Total stock market index fund and S&P 500 index fund has huge overlap and essentially cover mostly all the same stocks so having both funds is double exposure and just adds needless complication to your portfolio. The VTI fund is heavily tilted towards large cap stocks which is what comprises the S&P 500 index fund. This is why returns are so similar between these 2 funds.
@@leopoldpierre269 I know that. That still doesn't change the fact that the S&P 500 companies make up the vast majority of the total stock market index fund.
I believe that both funds are cap-weighted as well, so the majority of your money is definitely going to the same companies. Just buy the s&p (probably a tad lower er). Actually, most investors can buy an S%P index fund and be done with it. Don't need all of the other "exposure." That's just marketing. Those companies are pretty much all over the globe, so there is your "international" exposure. I'd be 100% stocks if I were you until like 50 years old. That bond etf probably hasn't kept up with inflation, but haven't checked. That said you are investing at your comfort level and that's the important thing. You are starting young and that is your greatest asset. Love the hustle and help you offer. Keep it up!
My style of investing is mostly what John Bogle preached. With that said I never thought of avoiding capital gains taxes by buying individual stocks within a Roth IRA. Thank you for that. I like to "play" with a small percentage of my investment money.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
I just wanna say how incredible this content is. Subscribed for life. You broke it down so simply and made it easy to understand man. Great visuals and actual numbers makes everything much easier. Thank you so much man
I’d be interested to see an update about this type of portfolio with the current decline in the markets. Maybe words of advice and adjustments that could be made as market continues to decline.
I paid my 16 year old child a $13k salary last year for helping me with work projects, tax free money for him and write off for my s-corp. Half the money went toward his vehicle and insurance, the other half in a Roth IRA. Will do the same next year. Tax free money is insanely awesome and putting it in a Roth IRA puts him on a prosperous path forward. Love the vid!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family....
@Christina-Gisela Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@Christina-Gisela Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy..
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
How can one start,most times people don't know where to start when it comes to crypto. But it would be great if you can provide proper guidance on steps to follow please
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
Great video! Personally, I am a huge fan of index funds and etfs for my roth IRA. Since I won't be accessing it until retirement, I am planning on putting money in there and forgetting about it.
Investors sent stocks soaring on Tuesday, cheering the October Consumer Price Index report that showed inflation slowed more than expected last month.What is the greatest strategy to take advantage of the current bull market while I'm still deciding whether to sell my $300k worth of stocks?
It's more challenging to create a strong financial portfolio, so I advise you to get help from a professional. You can then receive strategies that are specifically suited to your long-term objectives and financial aspirations.
Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2020 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.
I am learning so much from your videos Humphrey! I think I found you from TikTok last year and I am really happy to have subscribed and starting the year learning about personal finance from you!
I used 4 Vanguard ETF on my Roth IRA, 3 lazy investments. I'm on M1 Finance and these ETF's are VTI, VXUS, and for more exposure to Tech VGT and BND (60, 20, 10,10)
Mine's on M1 Finance as well and I have VTI, VXUS, and BND (70%, 20%, and 10%). I'm 30 years old and just started one this year with $1,000 in it. I plan to contribute the max ($6,000) every year. Would you recommend this portfolio at these percentages for a few years or rebalance it every year?
Awesome video .. I’m new to investing and one big mistake I made was focusing more on my brokerage account than my Roth . Going to keep just one etf in my taxable account and focus more on the Roth with similar allocations you put up for your Roth 👍🏼👍🏼
This video is incredible! As someone that started investing into a Roth IRA this year, I got a lot out of this. I have 2 questions: 1. What platform/broker do you use for your Roth IRA? 2. How do you compare having ETFs vs Mutual Funds in your IRA? And which do you prefer?
I feel like the fact that it’s tax free and probably the last of all your accounts you’d want to withdrawl from, I think it makes sense to be more aggressive than other investment accounts. Individual stocks, tech, etc.
Im still trying to figure it out as well. The difference being you have a 6k dollar limit annually and individual stocks are more volatile and you only make profit when you sell. Dividends are sheltered here which is why I have never been a dividend guy because I hate the thought of paying taxes of dividends. Our thought process is inverse of each other.
I subscribed to your channel a little over a week ago and I was watching fearless lyric videos with my mom until we decided to switch over to a finance video. Then I noticed the VIP reputation box on the background and I am SO happy I subscribed. Love your content!
So quick question. With a RothIRA it doesn’t take off from earned income when doing taxes but a traditional IRA does ? Can I just start off with traditional IRA to lower my earned income then Backdoor to a RothIRA.
Q1 Contribution to traditional IRA *_reduces_* your *_taxable_* income while Roth IRA does not. Q2 If you contribute to traditional IRA and then convert to Roth IRA you end up paying the same amount of tax as if you contributed to Roth IRA. There is no free lunch in your scenario.
Found your video on my suggested front page and I appreciate this video so much! I'm trying to diversify my roth more and have been doing a lot of research and this video helped me a lot. your picks for my roth gave me some insight on how I want mine to look like
@@gabrielaolmedoalarcon4554 I think it was Mickey Mantle who said "Had I known I was going to live this long, I would have taken better care of myself." Apply that quote to not only your physical health, but your finances as well.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
29 and overwhelmed with terminology. Thank you for explaining things because i honestly was going to give up and just build on my savings which is great but the pressure of investing is always over my head....quick question can you withdraw what you put in? Not what you earned...so if things happen and I need my money back can I get it?
Happy new year! Thank you again for all the info. My husband and I are so excited to start investing! Wish you nothing but tons of success, happiness and health :)
Started mine and opened an account about a year ago with just $134,000 in profits from the $20k I invested initially all I can say is better late than never, I do have a very reliable account manager
couple of questions.... Why do you have BNDW ? Do you really expect interest rates in the short term to go lower? or even in the next 10 years? Why not hedge with a REIT or something more lucrative? Aren't you just paying a premium price for bonds now if interest rates rise? And if they lower - other investments will do better? I don't understand the BNDW play at all. Please explain. Thank you. I was going to ask other questions like lack of exposure to voog but I think they may be too complicated right now so I will start with the first one.
"late 20's too late for starting a roth" I started mine last year at the age of 56 to suppliment my 401K and also possibly as a vehicle to help legally avoid some taxes in my retirement via rollovers.
I just retired from the carpenters union at 53 . I have two annuity accounts that need to be rolled over into a new IRA. I was considering doing this then each year taking the maximum about and roll it into a Roth IRA as well. Is this wise at my age ?
I should have started a Roth IRA when I was 18 but I kept putting it off. I turned 20 earlier this month and I am making decent money so I will start up a Roth IRA. I do not plan on retiring but I would definitely like to have a few mil by my late 50s to early 60s.
Quick question, I have Apple Tesla BNGO and some other short term stock on RothIRA if I sell those stock the profit I made is it taxable even if I didn’t take the money out but continue use to buy other stock?
I had same question. And based on what I found online: all of the earning on investments in the IRA, inclduing interest, dividends and capital gains( as the profit you made on selling those stocks), are allowed to grow without being taxed, as long as as they stay in the IRA account.
I’m at 60/20/20 FZROX FNILX and FZILX. Good to know I’m not the only one who doesn’t have too much diff ETF in there. Any advantages or differences between Fidelity and Vanguard?
It's amazing how many people don't understand what a Roth IRA is nor how it works. For the 99% there is one rule.... max out the roth, then if you have money left over... then you can start learning other investment vehicles. What you buy inside... up to you but... max out the roth, then max out the 401k.... IT IS REALLY THAT SIMPLE
Great video! Why did you choose VOO instead of VFIAX in a Vanguard Roth IRA? Is there a benefit besides the slightly better expense ratio? I'm wondering because I have my Roth IRA with Schwab and am deciding between VOO and SWPPX (Schwab's S & P 500 index fund).
Thanks Humphrey! Truly appreciate your clarity, transparency, and honest desire to help others. For the wider community: I want to now convert all my Roth IRA vanguard mutual funds into ETF's. What's the best (aka least hassle with no taxes) way to do that? Some like VTSAX -> VTI are easy to do since they're equivalents
I subscribed within the first minute. Love your transparency and clear iteration of what your going to talk about.
LOVE THIS COMMENT :) Thank you Tyler!
Same!
@@humphrey😊
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 40+ years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
Her name is “Rebecca Nassar Dunne’” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
I feel frustrated watching my portfolio underperform as I often jump in and out of stocks. Warren Buffett’s advice that $114 invested in the S&P 500 in 1942 would be worth $400,000 today. How can I adopt a consistent, long-term approach to finally build meaningful wealth?
It's normal to feel frustrated. Consider a long-term approach with index funds or ETFs that track the S&P 500 for steady growth and lower fees. A financial advisor could also help you build a strategy aligned with your goals.
My financial advisor helped me shift from frequent trading to a steady, long-term approach with S&P 500 index funds. In just two years, my portfolio grew from $200,000 to $380,000. Their guidance on consistency and patience transformed my results-I’m finally on track to build lasting wealth.
That sounds incredible! Could you let me know how I can get in touch with your advisor? I’d love to see if they could help me achieve similar results.
Of course! My advisor’s name is *Jennifer Leigh Hickman* . Just search her name online-Hickman has been instrumental in helping me create a solid, long-term investment strategy.
Yeah, she is Jennifer Leigh Hickman , look her up. Anyone is free to contact her.
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
That’s true, Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, , and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks
I've been thinking of going this route of using an advisor. Could you recommend yours?
Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
Why is this comment copied and pasted all over the comment section? Investment bots?! Lol
I have about $250k distributed across various investing accounts, with 35% of my capital invested in an IRA and 25% in index funds. In Q3, 2023, I suffered a great deal. I'm just searching for methods to get better in 2024 right now.
Adding JEPI and JEPQ is smart for nearing retirement. As for staying committed to higher-risk investments, it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
I agree! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future. That’s what works for my spouse and I. We've made over 80% capital growth minus dividends.
I could really use the expertise of this advsors
Victoria Louisa Saylor is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I searched for her name on the internet, found her page, and reached out via ehmail to schedule a conver-sation. Thank you.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio.
I believe that there are techniques that may be implemented for consistent gains regardless of the state of the economy or the market, but these executions are often made by investing professionals or advisors with expertise after the 2008 crash.
Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio
The adviser I'm in touch with is *Jude Ryan Mcdonough* He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me his strategy works hence my result. He provides entry and exit point for the securities I focus on.
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, so your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 2 million dollars
I bet you didn't do that without a financial advisor. I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
Haha. I definitely didn't pull that in myself. I knew next to nothing in finance. A good financial advisor really does make a lot of difference.
@@victorlaranjahal I'm doubly impressed by this. Could you refer me to who you work with, please?
I have worked with a couple of financial advisors over the past few years. First started out with a guy that worked for Bridgewaters. Same wall street rippers. I then switched to an independent advisor, *Sharon Louise Count* and, I won't even deny it, she's been really extraordinary.
@@victorlaranjahal Thanks a lot for this. I just checked her out now and I sent her an email. I hope she gets back to me soon.
I have an $800k portfolio from my old job and retired six years ago. Lately, it’s been doing poorly, with only 6% growth in the past three years and I feel stuck. I desperately need to revamp my investments. Any advice on what to do with my money would be greatly appreciated.
This is what people that handle their p0rtfolio themselves go through. I will advice you get yourself some fiduciary advisōr to help you make better p0rtfolio decisions.
I agree, investing with the help of an advisor set me up for life with about $1.6m currently in stock portfolio. I max out my 401k and have few properties. I worked hard as a language tutor for 32 years, and my salary was just over 80k annually. It all boils down to consistent regular investing to minimize risks and maximize growth.
@@rrandd0 I'm interested in trying this out. Who is your advisor, and how can I contact them?
@@rrandd0 I'm interested in trying this out. Who is your advisor, and how can I contact them?
I'm interested in trying this out. Who is your advisor, and how can I contact them?
Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks at a discount since the beginning of the year and yet the cycle continues with more losses, I know the idea is to hold long term but God I could really give anything to see some growth happen to my portfolio.
@Flora Quntinilla
@US ARMY Autumn Lynzi Smith is the analyst/investment-adviser. She has been of great help and her tutelage has brought me to a higher understanding of profit generation. You can look up her name on the net for her page and reach out. Understands the job perfectly
Well we are in an unexpected recession. Those lasts for a little over a year usually. Depressions lasts for a few years. Hold and keep putting in. The bottom will reveal itself and a boom will happen after. Bull markets make you money. Bear markets make you rich
Bots messaging each other, if you want to start up for real, then *Christy Vallen D'souza* is one of the best financial advisor and investments portfolio manager I know, plus you can withdraw from your portfolio at will. This is because I have tested her services firsthand. She has never failed. I recommend her to every beginner. She can be trusted. Just search her complete name on the web and yo will find her website.
How are you feeling now!
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed managers and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute, I'm still at a crossroads deciding if to liquidate my $338k stock portfolio.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
That's impressive! I could really use the expertise of this advsors.
My advisor's name is KAITLIN ROSE STERNBERG, and she has years of experience in the financial market. You can simply search her name on the web
Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds.
I thought you are penalized if you withdraw earnings before 59.5? You can withdraw your investments without problem, but any earnings will have to be after turning 59.5.
21 years old and i got my tax return and decided to finally open a Roth IRA. So excited to see how much it grows. Thank you for all of the advice!
Wonderful! awesome to hear
Did you fund your *2020* IRA or 2021 IRA?
i just opened mine early June. I am 41 now so don't feel bad
Most of my $2m portfolio is in (20% Index funds, 20% CD's 30% Bonds/T-bills and other assets) but I want to explore different strategies for better growth with the current market, just here for ideas
This is the exact thought process of persons handling their portfolio themselves. I will advice you engage guidance to help you make smarter portfolio decisions.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds. Currently, my IRA and cash accounts are far more than I expected for my future retirement. I can easily handle a worst-case 80% stock crash, Thanks to my CFA.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
My CFA “Diana Casteel Lynch” a renowned figure in her line of work. I recommend researching her credentials further.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Early retirement is the dream. I refuse to accept that I have to be at the end of my life to enjoy time freedom. Let's hustle to financial independence!
@Human Made
I have the same fear too because I think I'll make a mistake
@Human Made If you are new to the markets, I'd advise you get some kind advise or assistance from a financial consultant or Investment coach. That’s the most ideal way to jump into the market in these uncertain times.
@@middaynap9240
I agree with this, Investment coaching sounds like a great idea, thought about it before but never knew how to go about it, Have you used a coach? what is the experience like?
@@teppertimmy1069 can’t disclose too much , but yea I’ve been using a coach since March 2020, growing my portfolio from $275k to $700k approx. It is pretty straightforward, not as complicated as it used to be.
@@middaynap9240 Would you mind sharing your coach's Info?
Engaging with books has significantly elevated my perspective on investing. True wealth isn't built through mere savings; financial freedom stems from strategic investments. I've learned that accumulating wealth hinges on making prudent investment decisions|
Embarking on the investment journey at 40, I envision a triumphant testimony of significant success by the age of 55.
Discovering your familiarity with her was a delightful surprise. Over the last few months, I've had the privilege of closely collaborating with Jenny Pamogas Canaya. She has not only facilitated significant profits but also served as an exceptional mentor and trader. Her remarkable skill in navigating diverse market situations leaves me thoroughly satisfied with our partnership!
While your 401k and IRA account would likely continue to grow even after you stop contributing to it, that growth might be limited by the Market, your personal plans and also other factors. For this I see need for annuities. I still will like to know how to compound $2m and above in retirement without holding cash.
Bond and other fixed income asset if properly managed could produce the yield needed to provide solid income for retirement. The importance of a continuous wealth accumulation and ensuring financial stability is why boomers turn to advisors in retirement planning.
It is important to consider a financial planner early, before the last year of retirement. I am currently working with a financial planner called Jason Herman Pierce. I really appreciate his cutting edge financial strategies. It really works for me. His vast knowledge of international market and tax implications allow us to moderately diversify my investment portfolios, minimize tax liabilities and access new markets with potential high returns. And I am two year from retirement and my financial goals is secured.
Please how can I get in touch with the advisor guiding you. I am close to retiring and I didn't make proper planning and investment for retirement. Thinking about now scares me. I have to start somewhere. It is better late than never.
His name is Jason Herman Pierce. You can google him via your search engin to get information about him. I am sure you will be fine.
I have made research on him. His credentials are impressive. I have sent an email and he replied. We've booked an appointment. I am very grateful. Thanks.
Man…now THIS is what should be taught in schools! If it wasn’t for just listening to other people around me talking about managing finances i never would have know what a Roth IRA was! Thank-you for your explanations!
Thanks Nicole!!!
You saying that starting in your late 20s isn't too late realy helps. There are times where I feel like I don't have enough time but then I realize that I still have more income to earn and then that will change my contributions which whill in return increase my investment. Great video Humphrey!
maxing out my roth today at 19 so proud of how far i’ve come
Smart man, doing the same.
Congrats!!
@@brockbuisker261 good luck homie, you got this 👊🏽
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
@@Tsunaniis-j5l I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@@MakeamericaGreatagain-h7j my 401k has particularly lost everything gained since 2019, who is your coach if this is not too much i'm asking?Been doin sum research lately.
@@DreamweaverShade-h9p My advisor is NICOLE DESIREE SIMON , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@MakeamericaGreatagain-h7j she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
I really appreciate seeing the perspective of someone who started later with investing. It’s very intimidating to see these type of videos from people well into their journey who started maxing out their Roth IRA at age 18. I’ve had my Roth for about five years now, but only started seriously contributing the past two years or so. This will be the first year that I finally max it out after slowly increasing my contributions each year. Thank you for sharing!
I am 50 with approx.$20k in my Roth and just now maxing my annual contributions. I crunched the numbers and could have $300k by 70 in it if I only get a meager 4% annual return on it as a worst case scenario.
I hope that helps.
I am 41 & just starting my ROTH. Thank you for these infos!
You are so welcome!
Which ETFs did you go with and what was your percentage allocation for each
Just do vti , schd and vxus
Me too, 41 and JUST getting setup! Wondering, what investments are you starting with? (thats now the hard part, lol).
I have VOO, VXUS & VTI.
Im 22 and starting my first job out of college in a few months. These videos are very helpful and I am going to open an account this year. thank you!
First thing you should check is to see if your employer offers company matching in a 401K. Go for that first because that is FREE (nontaxable) money. Next, pay off your student debt, if any. And pay that off ASAP. Next, open an HSA through your employer (if they offer one) and start contributing. Everyone needs health/dentalcare at some point and you are no exception. It's nice that Uncle Sam pays a small part of that healthcare bill. Then if you have money, open a ROTH.
Better late than never. I'm 28, I have Roth IRA but don't have enough money to max it out. Though I put money in whenever I can. 🙂
Same here, just opened it last month and I’m planning to put $200 a month atleast. 😅
Even if it’s $50 a month, that’s still great
setup automatic checking contributions weekly - even if it's $50 it will change your life. It literally changed my life. I dont even notice the money anymore. 1x a year or so I will increase the value 1% to 10%. Best of luck!
Engaging the services of a professional stock broker in your trades is the best way to begin. As a beginner I made my first big millions in the stock market with no prior experience, I was introduced to an Expert broker/Financial advisor who assisted me in achieving so much. Her name is Suzanne Stephens Ellis, I recommend her to beginners for all types of investment, including retirements. Please avoid running losses trading on your own.
Just as I said, SUZANNE STEPHENS ELLIS is one of the best stock broker and investments portfolio manager I know. This is because I have tested her services first hand. She has never failed me or anyone I recommended to her. She can be trusted.
My Roth IRA balance is currently about $100,000 and it's all held in one fund: The Fidelity 500 Index Fund (FXAIX).
i just started and im turning 37 this year. but late than never. i contribute $500 per month
Same
That's right! There is no age is too late. I started my Roth at 35. I felt like it was late, but I don't regret it because I enjoyed the rest of my younger life doing things I like doing.
Thank you Humphrey. I love how you’re so comfortable with sharing this with us. I love your videos.
thank you, Tyler :) I appreciate the comment
It's definitely a diversified portfolio, just way too conservative in my opinion. I would have more VOO and less VTI, and almost half of the thing is in international, I think that's way too high considering how much better the US stock market is compared to the world.
@@humphrey Hi humphery wich brokerage use for you roth ira?
@@jeffwvu4602 VOO and VTI are virtually the same fund, bro.
Late 30s here. Just opened my Roth IRA this afternoon 😬
Already maxed out the contribution for 2020💪🏽
I’m 35 and watching this video so i can finally move forward on it mysefl I’m ready to max it out and invest. Any assistance would be greatly appreciated
@@brcleaningcompany2566 that’s awesome. I opened one with a Robo advisor through Betterment, and one I can use to manually select stocks through TD Ameritrade. I hear Fidelity and Vanguard are pretty good choices as well
@@alexm1841 sucks because it’s something I’m not grasping and I’m usually a fast learner lol,, am i suppose to open a Roth IRA add 6k to it, is that 6k inside the Roth IRA the same i use to buy stocks and index from it? Or do i max it out at 6k then use additional money for whatever stocks or index i want to add to it??? The whole average growth of 8-12% thing
@@brcleaningcompany2566 I had just recently opened mine as well. From what I learned is That yes you use this Roth IRA to buy or trade stocks. You don’t have to max it out and no you cannot add anymore once you max it out, but you can invest it to let it grow
Nice video very good information. I just started a Roth IRA and I'm in my mid 40s. You're absolutely correct you are never too late to start investing. Great tips thank you.
Great Video . According to Robert Kiyosaki the best investment one can ever make is in taking the time to truly understand how one's finances work. Too many people are much more interested in the quick-hitting scheme, or trying to find a short-cut to real wealth.
There is never a short cut to destiny, a consistent effort bring about success.
Did you trade with Christine Lynn Saitta?
I have been hearing of her tireless effort in making profit for investors. How can i contact her?
Yes, I have been benefiting from her investment platform for good two years and three months.
Lookup with her name on the web, you will find everything you need to know about her service.
Thanks a lot I will do that immediately
The Total stock market index fund and S&P 500 index fund has huge overlap and essentially cover mostly all the same stocks so having both funds is double exposure and just adds needless complication to your portfolio. The VTI fund is heavily tilted towards large cap stocks which is what comprises the S&P 500 index fund. This is why returns are so similar between these 2 funds.
I was thinking the exact same thing
S&p 500 cover the 500 biggest companies where as the total stock market cover the entire stock market not just 500 ....
@@leopoldpierre269 I know that. That still doesn't change the fact that the S&P 500 companies make up the vast majority of the total stock market index fund.
I believe that both funds are cap-weighted as well, so the majority of your money is definitely going to the same companies. Just buy the s&p (probably a tad lower er). Actually, most investors can buy an S%P index fund and be done with it. Don't need all of the other "exposure." That's just marketing.
Those companies are pretty much all over the globe, so there is your "international" exposure. I'd be 100% stocks if I were you until like 50 years old. That bond etf probably hasn't kept up with inflation, but haven't checked.
That said you are investing at your comfort level and that's the important thing. You are starting young and that is your greatest asset. Love the hustle and help you offer. Keep it up!
My style of investing is mostly what John Bogle preached. With that said I never thought of avoiding capital gains taxes by buying individual stocks within a Roth IRA. Thank you for that. I like to "play" with a small percentage of my investment money.
Got it! Nice!!
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Are you not rotating out of VOO and VTI this year?
So much complexities. I think FX-Trading is just the simplest yet you make a very good passive income weekly.
Not a Pro. LoL. I work with "Sandra Yvonne Webster" in all honesty she is an Angel. Do your own research!
Sandra was here in Utah for a seminar. She spoke about Nft bubble Great speaker, full of humor and rhetorics too. Lol!
@@kathleenstoner.n7499 THE NAME DROP!
I just wanna say how incredible this content is. Subscribed for life. You broke it down so simply and made it easy to understand man. Great visuals and actual numbers makes everything much easier. Thank you so much man
Glad it helped!
I’d be interested to see an update about this type of portfolio with the current decline in the markets. Maybe words of advice and adjustments that could be made as market continues to decline.
I paid my 16 year old child a $13k salary last year for helping me with work projects, tax free money for him and write off for my s-corp. Half the money went toward his vehicle and insurance, the other half in a Roth IRA. Will do the same next year. Tax free money is insanely awesome and putting it in a Roth IRA puts him on a prosperous path forward. Love the vid!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family....
@Christina-Gisela Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@Christina-Gisela Alice Marie Coraggio
Lookup with her name on the webpage
@Christina-Gisela Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy..
Last year I put $200 in a couple ETFs and I had a 10% growth which was amazing. Just opened a Roth and thinking I'll follow your 40%/40%/20% style
I’m 21 and I just started my account 🔥
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
How can one start,most times people don't know where to start when it comes to crypto.
But it would be great if you can provide proper guidance on steps to follow please
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
Please how can I get in touch with this Alex Gomez ? I really need to give him a try
This is he’s telegrams user name
@AlexRcoin THAT IS THE USER NAME
THAT IS HIS USER NAME
39 I just opened a Roth last year, and just started fully funding last month.
Great video! Personally, I am a huge fan of index funds and etfs for my roth IRA. Since I won't be accessing it until retirement, I am planning on putting money in there and forgetting about it.
Investors sent stocks soaring on Tuesday, cheering the October Consumer Price Index report that showed inflation slowed more than expected last month.What is the greatest strategy to take advantage of the current bull market while I'm still deciding whether to sell my $300k worth of stocks?
It's more challenging to create a strong financial portfolio, so I advise you to get help from a professional. You can then receive strategies that are specifically suited to your long-term objectives and financial aspirations.
Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2020 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.
Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this coach?
SONYA LEE MITCHELL is the manager I use. Just research the name. You'd find necessary details to set up an appointment.
this Sonya looks the part but i'd do my due diligence. I set up a call, thanks.
I am learning so much from your videos Humphrey! I think I found you from TikTok last year and I am really happy to have subscribed and starting the year learning about personal finance from you!
Thats awesome :)
I used 4 Vanguard ETF on my Roth IRA, 3 lazy investments. I'm on M1 Finance and these ETF's are VTI, VXUS, and for more exposure to Tech VGT and BND (60, 20, 10,10)
Great setup! Not overly exposed in any area, but enough exposure in all the right areas.
Mine's on M1 Finance as well and I have VTI, VXUS, and BND (70%, 20%, and 10%). I'm 30 years old and just started one this year with $1,000 in it. I plan to contribute the max ($6,000) every year. Would you recommend this portfolio at these percentages for a few years or rebalance it every year?
Awesome video .. I’m new to investing and one big mistake I made was focusing more on my brokerage account than my Roth . Going to keep just one etf in my taxable account and focus more on the Roth with similar allocations you put up for your Roth 👍🏼👍🏼
This video is incredible! As someone that started investing into a Roth IRA this year, I got a lot out of this. I have 2 questions:
1. What platform/broker do you use for your Roth IRA?
2. How do you compare having ETFs vs Mutual Funds in your IRA? And which do you prefer?
What did you end up using as your platform for ROTH IRA???
This was so helpful and easily digestible! Thank you :)
you are welcome :)
Yes... the best explanation
This is best video on Roth IRA I’ve seen on RUclips. Thank you for the information.
I feel like the fact that it’s tax free and probably the last of all your accounts you’d want to withdrawl from, I think it makes sense to be more aggressive than other investment accounts. Individual stocks, tech, etc.
Im still trying to figure it out as well. The difference being you have a 6k dollar limit annually and individual stocks are more volatile and you only make profit when you sell. Dividends are sheltered here which is why I have never been a dividend guy because I hate the thought of paying taxes of dividends. Our thought process is inverse of each other.
I want to move my Roth IRA from a financial advisor to fidelity and manage it myself. How easy is this process?
I subscribed to your channel a little over a week ago and I was watching fearless lyric videos with my mom until we decided to switch over to a finance video. Then I noticed the VIP reputation box on the background and I am SO happy I subscribed. Love your content!
LOL
You’re welcome!
So quick question. With a RothIRA it doesn’t take off from earned income when doing taxes but a traditional IRA does ? Can I just start off with traditional IRA to lower my earned income then Backdoor to a RothIRA.
Q1 Contribution to traditional IRA *_reduces_* your *_taxable_* income while Roth IRA does not.
Q2 If you contribute to traditional IRA and then convert to Roth IRA you end up paying the same amount of tax as if you contributed to Roth IRA. There is no free lunch in your scenario.
Found your video on my suggested front page and I appreciate this video so much! I'm trying to diversify my roth more and have been doing a lot of research and this video helped me a lot. your picks for my roth gave me some insight on how I want mine to look like
You're so welcome! I'm so happy to hear I was suggested! I've been trying to make more videos and increase my reach, yay!
Dump all your money into amc stocks. To the moon 🌙
How much did you actually start with an what did you contribute every month ?
The thing is the future is not guaranteed, live your live to the fullest but dont go broke doing it!
Right I’m terrified to die before I get to touch my money
@@gabrielaolmedoalarcon4554 I think it was Mickey Mantle who said "Had I known I was going to live this long, I would have taken better care of myself." Apply that quote to not only your physical health, but your finances as well.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
29 and overwhelmed with terminology. Thank you for explaining things because i honestly was going to give up and just build on my savings which is great but the pressure of investing is always over my head....quick question can you withdraw what you put in? Not what you earned...so if things happen and I need my money back can I get it?
With your Roth IRA, you can withdraw what you put in, with NO penalty. Yes.
Didn;t start mine until my 40's. I WISH I would have started when you did. If only.......
Are you me!? This is my exact story. SCARY 😅
LOL! Twins bro
Twinnnss and both of Yall's YT Channel is awesome and Informational
Lol
I’m 19 and I just opened a Roth IRA with M1 finance !! Putting 800 a month into it and also investing 189 a month into ethereum!!
I’m 20 and I’m just wondering how you have $800 to put in every month hahah.
@@adriannagreen2703 lol I’m lucky enough to have a job paying 15 an hour and also live with my grandparents. My only expense is gas !
@@adriannagreen2703 lol
@@okcool721 Super smart!!! Keep up the good work. It will pay off on the future.
Happy new year! Thank you again for all the info. My husband and I are so excited to start investing! Wish you nothing but tons of success, happiness and health :)
Thank you Molly!! Same to you
Can I use dividends from a taxable individual brokerage account to fund a Roth IRA?
Started mine and opened an account about a year ago with just $134,000 in profits from the $20k I invested initially all I can say is better late than never, I do have a very reliable account manager
34 and still thinking but I want to retire right, how can I get into the market
@Fiona Abel his name is Benjamin ravies, a prolific investor and fiduciary, you can reach him if you like
BENJAMIN RAVIES (a G mall Come to send him a request
What? You invested $20K and in a year you have $134K or $154K in the account? That's 670% so I doubt that. Or , did you earn $20K on the $134K?
I have had a succession of withdrawals from profits trading and investing with his services
couple of questions....
Why do you have BNDW ? Do you really expect interest rates in the short term to go lower? or even in the next 10 years? Why not hedge with a REIT or something more lucrative? Aren't you just paying a premium price for bonds now if interest rates rise? And if they lower - other investments will do better? I don't understand the BNDW play at all. Please explain. Thank you.
I was going to ask other questions like lack of exposure to voog but I think they may be too complicated right now so I will start with the first one.
My portfolio is VTSAX VTIAX VGHCX and VGT for my IRA.
I love VTSAX
So say you withdrawal your contribution’s from your Roth IRA will that affect your earnings?
"late 20's too late for starting a roth" I started mine last year at the age of 56 to suppliment my 401K and also possibly as a vehicle to help legally avoid some taxes in my retirement via rollovers.
people wanted him to start when he was 5 rofl... plus it has to be taxable income so you cannot be a young kid.
I would make Roth IRA 100% stock and put bonds in 401k and traditional IRA instead to maximize tax advantages.
Can you explain why you purchased ETFs as opposed to index funds?
Etfs are more tax efficient!!
@@humphrey does the tax efficiently matter when using a Roth IRA?
@@westonpetersring No
I’m putting 100% of the money in my simple Ira in HNDL. And I’m putting 100% of the money in my Roth IRA in realty income
This was such a clear and transparent video esp for a new investor like myself. Subbed!
Great to hear :D
Huge fan of the channel, i can add new index funds to my profilio every year, and still gain interest from the previous years wow
Is there a penalty to sell stocks in order to get better ones? Do you have a video explaining rebalance?
I’m so glad I opened one at 19 🗣️
What’s your reasoning on ETFs vs index funds for your IRA?
I also want to know the answer to this question
ETFs are more tax efficient
@@steelersrulealot but taxes efficiency is irrelevant in a Roth IRA isn’t it?
It’s my understanding ETFs are more efficient in taxable accounts.
I think it comes down to fees, there are additional fees associated with an index fund
I just retired from the carpenters union at 53 . I have two annuity accounts that need to be rolled over into a new IRA. I was considering doing this then each year taking the maximum about and roll it into a Roth IRA as well. Is this wise at my age ?
Super informative! Happy New Year!
Thx Sam! You too :)
I should have started a Roth IRA when I was 18 but I kept putting it off. I turned 20 earlier this month and I am making decent money so I will start up a Roth IRA. I do not plan on retiring but I would definitely like to have a few mil by my late 50s to early 60s.
Quick question, I have Apple Tesla BNGO and some other short term stock on RothIRA if I sell those stock the profit I made is it taxable even if I didn’t take the money out but continue use to buy other stock?
I had same question. And based on what I found online: all of the earning on investments in the IRA, inclduing interest, dividends and capital gains( as the profit you made on selling those stocks), are allowed to grow without being taxed, as long as as they stay in the IRA account.
Will not be taxed. This is why you want to swing for the fences within a IRA and go for a ton of growth.
Did you go with Fidelity or Schwab or Ameritrade or M1 or who are you doing your Roth IRA with please?
My Roth IRA is in vanguard. But I’d probably go with fidelity as of now.
2021 goals will be to finally kickoff a channel to educate people on financial literacy! Also to max out that Roth IRA 😏
Boom! Love it man.
i am watching this exactly one year later! thanks Humphrey! i am grateful you appeared on my tiktok feed
I’m at 60/20/20 FZROX FNILX and FZILX. Good to know I’m not the only one who doesn’t have too much diff ETF in there. Any advantages or differences between Fidelity and Vanguard?
Thank you Humphrey, great video as always. Always learn something new from each video you post.
You’re welcome!
If you wanted to create passive income with dividends would it be better to do it in an IRA or a normal brokerage?
My Roth IRA is divided between the 5 ark etf , with different percentages.
smart
how is that going for you? im thinking about doing the same thing
It's amazing how many people don't understand what a Roth IRA is nor how it works. For the 99% there is one rule.... max out the roth, then if you have money left over... then you can start learning other investment vehicles.
What you buy inside... up to you but... max out the roth, then max out the 401k.... IT IS REALLY THAT SIMPLE
Great video! Why did you choose VOO instead of VFIAX in a Vanguard Roth IRA? Is there a benefit besides the slightly better expense ratio? I'm wondering because I have my Roth IRA with Schwab and am deciding between VOO and SWPPX (Schwab's S & P 500 index fund).
One is a good substitute for the other. Flip a coin and don't get hung up the negligible expense ratio difference et al.
Can I use this video for guidance for choosing my investments for my traditional IRA?
8:14 isn’t the Roth IRA already tax free? Why does it matter that the ETFs and individual stocks are also tax free?
Was wondering the same exact thing. Confused the hell out of me as I am a noob.
What's your take on mutual funds vs etfs when it comes to passive investing?
So if I contribute tomorrow Jan 2,2021 I can contribute to my 2019 year ? So technically I can dump 12k for my 2019 n 2020? Little confused
You can contribute to your 2020 Roth IRA up to April 15, 2021. It’s too late for 2019.
Thanks Humphrey! Truly appreciate your clarity, transparency, and honest desire to help others. For the wider community: I want to now convert all my Roth IRA vanguard mutual funds into ETF's. What's the best (aka least hassle with no taxes) way to do that? Some like VTSAX -> VTI are easy to do since they're equivalents
This was awesome info!
The tax day changed from April 15 to May 17th 2021. You can still make 2020 roth ira contributions