I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
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.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@WilliamRobert-56 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Investing in stocks may appear basic but selecting the appropriate stock without a proven strategy can be tough. For the longest time, I've been working to expand my $210,000 portfolio, but the most significant impediment is the lack of a well-defined entry and exit strategy. Any input on this subject would be greatly welcomed.
Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Can you please make more videos for people 50 and over regarding personal finance. I think a lot in this age group need to play catch up, don't know how or even if it is possible. Thank you for sharing your knowledge! Much appreciated.
Hi Steve, I am not qualified to open a Roth IRA due to my income, what’s my option? Where’s the best account to place my 5% pay raise besides putting it in my 403 B?
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
NICOLE ANASTASIA PLUMLEE’ 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 got huge value from this video. I had no idea about the targeted date funds and then how you can just sell part of your portfolio and more. So much great information. I'm 53 and never learned much about investing. Ugh. I'm pushing my two boys hard with them learning and have had them both open IRAs already. They are 15 and 20. I am imploring them to live below their means and invest and sharing these and other YT videos and books. They are excited to learn. Thankfully I have a good job with retirement but I am also wanting to build more and now use ETFs like SPY and VOO. I'm so glad I came across your channel. Your mom must be so proud!🙂
Great job! You nailed it!! I started at 53yrs young.. and it was the best decision I’ve ever made👌🏾 I plan to invest way pass retirement, to build generational wealth😊
Yea, I would rather die never spending 200k in the bank with that daily peace of mind knowing that I still have security and comfort til that day than to spend my final years in a state of fear and pain because I've completely ran out of money to afford those comforts.
I put in 20k into various assets last year and flipped into six figures within a few months and still going. I’ve always been an advocate of investing because it has been rather rewarding. I hope to attain financial freedom soon. One more thing, I always look forward to your content brother, keep up the good work.
It’s not rocket science. As I said previously, I got into stocks, and REITs, myself but wasn't getting the results I wanted the first couple of months. Got tired of losing and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments.
@@Christensen554 While it may sound enticing, it is important to understand that stocks, like a fine wine or a Monet, has no standardized value. You look all good on the outside, while you wait till almost death to enjoy your wealth which presents an enormous economic(uncertainty) risk.
It’s bonkers to compare stocks to moet mate. Over the years, I've been part of numerous investment programs, sifting through a barrage of information. Yet, none comes close to the sheer clarity, depth, and precision of Herman’s instructions and insights. It's akin to finding a diamond in the dirt.
Thanks for the excellent content! I wish that I had this information when I was in my 20’s. You Tube has become an extremely valuable resource (especially if a person is able to stay focused on mastering one subject at a time.) Thanks again- I’m a huge fan of your channel. 🙌
The scary thing is that you will one day reach an age where you will no longer be able to work. Ready for it or not, it'll happen faster than you realize. Time really starts flying in your later years because you just fall into a comfortable routine. Pretend that it's happening right now to you. This is your last week of work. All you get is your social security. Can you do it? Because that's going to be the reality you'll be hit with pretty darn soon. I think most people wake up every monday as it is thinking, "man... I just can't do another day of this" Prepare for the worst. hope for the best
Omg how funny I just saw your whole video and didn’t know it had anything to do with being 50 and then I finished the video clicked on it again and it’s regarding a 50-year-old and that’s me I’m 53 and I really want to learn about options so glad I found your channel. You’re a good teacher.
I think this is a great video. What I think is the highest compliment to the content is how people over 40 (and I am one of them) are clearly encouraged and have humility to take wise advice from a younger person. To me that shows not only your content is good, but you definitely have the thoughts and mind of a teacher.
Thank you so much. I have my 19 and 22 year old daughters watching your videos. They know so much more than I did at their ages. I want them to know everyone I didn't.
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
70 y/o divorcd 2 times, liquidated 3 401ks for health expenses etc,...present situation is home of 1.26km value with 300K 40 year interest only loan @ 4% mortgage, rent out mil apartment income of 80k from ss, small annuity, and as a caregiver for my daughter employed by the state. Have about 30k in stock and cash, 24 y/o car, no fluff and have slashed expenses. Started trading with minimal investment and expext 2 year learning curve. Work side jobs as carpenter to support disabled wife as well. Good faith based guy with healthy approach to life.
Excellent information! It was very well explained in layman's terms. I have a IRA account in Schwab and I'm going to invest in the S&P starting tomorrow. Thank you for that great info 👍.
@CalltoLeap It was very helpful. I'm 49 and I have a 401K with my job but it took a major hit during covid when the market crashed. I've been contemplating opening up a Mutual fund.
I have a question? Say when you invest 500 dollars a month for the next 40 years. Where does the say if you need to cash out a little? When is a good time to sell. When your investment stocks skyrockets?
51 and can relate to this. I've really been investing more of my income into 401ks. The gains have really been remarkable within the last couple of years.
😂, awesome video but most people in this age group only have 200 - 400 a month extra to spare most of the time.. sometimes even way less.. realistically, it can be done but not at the numbers you're talkin about
Do you think now is a good time to sell some stocks, or should I hold onto them for the long term? I'm considering rebalancing my $180k portfolio and would love to hear your thoughts on the best investment strategies for this year.
Thank you for this video. I deposit monthly into my Roth IRA and brokerage account. I invest in VOO, Sp& 500, and REIT. I want to know about the monthly deposit. Right now I deposit monthly into my accounts but it just sits there. I don't know how to invest my monthly deposits into the current stocks I have right now. Do I have to continue to purchase stocks with my monthly deposits? or can I add it to the stocks that I currently have right now if so how do I do that? Do I sell what I have and buy more with the money I deposit into my account? I'm so confused about depositing my monthly deposit. Please advise the 62 year single women.
Thank you for sharing these steps! Sharing it w my son. I’m in book tour myself in NY today. Book on healing from divorce called “THE SUN ALWAYS PIERCES THROUGH” ☀️
Hi Steve, thank you for the time you take to educate us about money. Kindly advise, is what you are saying only applicable to US citizens because I am in Africa.
I am 47 and making the most I have ever made from my six figure job, 401k match, and an entire business I have. I am maxing out my 401k contribution to the max allowed and roth ira for me and my wife and also a iul life insurance policy. I have no debt and a paid off car and cheap home so just throwing money into retirement.
I'm 46. How can I invest when filing married but separate; we have not filed together in over 10 years. I started regularly investing in my employer 403b and a little in the Roth 403b,
This was VERY informative!! Thank you! Question . . . If I’m only allowed to contribute $8k towards Roth IRA, how can i save 2k every mo.? Won’t i get penalized for exceeding amount? Also, please make video on TDFs. First time hearing about it. Thank you for sharing your knowledge!
Interesting advice but if you are just get started in your 50's statistically you are in the highest tax bracket you will ever be in. Would not a regular brokerage be better than a ROTH at this age? Or even better yet a pretax account like your employer's 401k? I don't think having a ROTH is bad at any age but as you hit your 50's it is not giving you that much tax advantage. Perhaps you will suggest this later in the video but your 50's is the right time to consider downsizing in home. Most people will have their home mortgage mostly paid off and they can sell, downsize and invest the difference. This could be especially helpful if you really have not saved anything yet. Your home's equity can give you a boost early on in your savings/investing.
What's the difference in the final numbers when investing in dividend funds vs growth funds? At the end of the line the numbers similar? Thanks for the great video.....
Hi can you make a video where you show how to do all this in vanguard? Or please direct me to one you've already made. I had trouble navigating and understanding their website. TIA
Past a certain income threshold there is no tax advantage I just discovered after doing my taxes (I think it’s 87K per year AGI) basically I wasn’t able to take any deductions on the IRA contributions
A big thank you! I'm 51, no job and living off my inheritance, which is slowly dropping. Instead of investing every month, would I be able to invest one amount and leave it alone till I retire? Thank you again. If you offer services please let me know.
Very educational! Are you taxed on the 4% of the assets sold? I heard in another video you can set up a transfer back to your bank account, so if this becomes income, it has to be taxed, right?
what to do if income restricted from contributing to roth iras? what other retirement accounts are there that are tax free? can you do a video on backdoor roth iras?
If you’re in your 50s still working some scrub job and/or laboring under 10s of thousands of debt, you’re probably screwed. But if you have a job with a paycheck that went up with your years - say $80-$100k - and just didn’t build a savings or lost it, you still got a shot. I built a $700k portfolio investing $3k a month over 9 years. Yes, it was hard - though not as hard as I thought it would be. And I did it even with the 2008 stock market crash interruption. Having $700k when you reach 60 something isn’t that much. But it will keep you from dire poverty.
This has a lot of usable information for an older person. However, there are earning limits associated with Roth IRA that i exceed for a single person. I need that sort of tax arrangement. What sort of plan is good for me at this point to add to my retirement?
@@CalltoLeap i have started contributing to 403b (roth) and 457b… plus opened a brokerage account and roth ira (i am researching back door Roth since i make too much)
I’m 47 and started investing at 44. It’s never too late and thanks for looking out for the older folks who weren’t taught this. I know I wasn’t.
Of course! Here to support you any way I can :)
Agreed!
Hello there @stunzed....I'm reading all here....with all honesty I need investment advise.... would u be a help ?
@@CalltoLeapthanks Steve for the reviews 😊🎉
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
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.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@WilliamRobert-56 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@CarmelaBuisson My advisor is VICTORIA CARMEN SANTAELLA;
You can look her up online
@@WilliamRobert-56 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Investing in stocks may appear basic but selecting the appropriate stock without a proven strategy can be tough. For the longest time, I've been working to expand my $210,000 portfolio, but the most significant impediment is the lack of a well-defined entry and exit strategy. Any input on this subject would be greatly welcomed.
Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
You seem to know the market better than we do, so that makes great sense. Who is the guide?
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I simply Googled her name and her website came up right away. So far, it appears interesting. I emailed her, and I hope she responds soon. Thanks
Can you please make more videos for people 50 and over regarding personal finance. I think a lot in this age group need to play catch up, don't know how or even if it is possible. Thank you for sharing your knowledge! Much appreciated.
Absolutely!!
I agree with this comment. PLEASE more videos for Gen X.
Yes! Please, more money information for the 50 plus, year olds. Thank you!😊
will be waiting for that too please Steve! Thank you!
Hi Steve, I am not qualified to open a Roth IRA due to my income, what’s my option? Where’s the best account to place my 5% pay raise besides putting it in my 403 B?
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
NICOLE ANASTASIA PLUMLEE’ 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 an online search on her name and came across her website; thank you for sharing.
Thank you for this video. Simple and direct. You have a niche with the 50yrs people. Seriously your mom must be very proud of you. Thank you!
Thank you so much! I try my best to keep it as simple as possible!
I got huge value from this video. I had no idea about the targeted date funds and then how you can just sell part of your portfolio and more. So much great information. I'm 53 and never learned much about investing. Ugh. I'm pushing my two boys hard with them learning and have had them both open IRAs already. They are 15 and 20. I am imploring them to live below their means and invest and sharing these and other YT videos and books. They are excited to learn. Thankfully I have a good job with retirement but I am also wanting to build more and now use ETFs like SPY and VOO. I'm so glad I came across your channel. Your mom must be so proud!🙂
I’m glad this helped and you’re encouraging your sons to implement these wealth habits early on! Woohoo!
Much needed. 50's 60's and beyond. Thanks so much.
Great job! You nailed it!! I started at 53yrs young.. and it was the best decision I’ve ever made👌🏾
I plan to invest way pass retirement, to build generational wealth😊
Woohoo! I'm glad you started Stacy! :)
@@CalltoLeapI’m happy to join .. thank you for sharing such great content👍🏾
Yea, I would rather die never spending 200k in the bank with that daily peace of mind knowing that I still have security and comfort til that day than to spend my final years in a state of fear and pain because I've completely ran out of money to afford those comforts.
@@Novaximustyyytyg try y aa
You are so knowledgeable in handling money! Im 65 & going to start a Roth IRA thanks to you! 😊
I put in 20k into various assets last year and flipped into six figures within a few months and still going. I’ve always been an advocate of investing because it has been rather rewarding. I hope to attain financial freedom soon. One more thing, I always look forward to your content brother, keep up the good work.
You can’t overlook the fact that it’s paramount not to get greedy but to remain invested through careful study, if not you can lose it all.
I have some money saved from day job. I have no idea where or how to invest. How are you doing it, Leon?
It’s not rocket science. As I said previously, I got into stocks, and REITs, myself but wasn't getting the results I wanted the first couple of months. Got tired of losing and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments.
@@Christensen554
While it may sound enticing, it is important to understand that stocks, like a fine wine or a Monet, has no standardized value. You look all good on the outside, while you wait till almost death to enjoy your wealth which presents an enormous economic(uncertainty) risk.
It’s bonkers to compare stocks to moet mate. Over the years, I've been part of numerous investment programs, sifting through a barrage of information. Yet, none comes close to the sheer clarity, depth, and precision of Herman’s instructions and insights. It's akin to finding a diamond in the dirt.
Thanks for the excellent content! I wish that I had this information when I was in my 20’s. You Tube has become an extremely valuable resource (especially if a person is able to stay focused on mastering one subject at a time.)
Thanks again- I’m a huge fan of your channel. 🙌
The scary thing is that you will one day reach an age where you will no longer be able to work. Ready for it or not, it'll happen faster than you realize. Time really starts flying in your later years because you just fall into a comfortable routine. Pretend that it's happening right now to you. This is your last week of work. All you get is your social security. Can you do it? Because that's going to be the reality you'll be hit with pretty darn soon. I think most people wake up every monday as it is thinking, "man... I just can't do another day of this"
Prepare for the worst. hope for the best
Perfect video for me. I am 51 years young. Thank you for this
Glad it was helpful!
Omg how funny I just saw your whole video and didn’t know it had anything to do with being 50 and then I finished the video clicked on it again and it’s regarding a 50-year-old and that’s me I’m 53 and I really want to learn about options so glad I found your channel. You’re a good teacher.
I think this is a great video.
What I think is the highest compliment to the content is how people over 40 (and I am one of them) are clearly encouraged and have humility to take wise advice from a younger person.
To me that shows not only your content is good, but you definitely have the thoughts and mind of a teacher.
could you do one exactly like this but with FIDELITY and people over 55? I would love that - TIA
Yes as long as you have earned income. Also would look at your 401 k or equivalent at work if available or applicable.
Thank you so much. I have my 19 and 22 year old daughters watching your videos. They know so much more than I did at their ages. I want them to know everyone I didn't.
Please more for the over 50/60 crowd. You are very intelligent & share such great info we were never taught
Yes please make other video I am in 50s and just started investing thanks to you
Thank you so much. I’m 50 and this is so helpful.
Thk u for being a teacher. Bless u
You sir, are still an excellent teacher.
Great content. I enjoy your shorts and longer videos. Late 50's and I am working on a 11-12 year horizon.
Thank you this actually helped me a lot. You explained things very well
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Lots of value, through inspiration... glad I came across your channel!
You make it so easy to understand, thank you so much for sharing your knowledge, God bless you!
Yes I’m interested in hearing about covered calls
Thank you! I learned alot. You have a new subscriber!
70 y/o divorcd 2 times, liquidated 3 401ks for health expenses etc,...present situation is home of 1.26km value with 300K 40 year interest only loan @ 4% mortgage, rent out mil apartment income of 80k from ss, small annuity, and as a caregiver for my daughter employed by the state. Have about 30k in stock and cash, 24 y/o car, no fluff and have slashed expenses. Started trading with minimal investment and expext 2 year learning curve. Work side jobs as carpenter to support disabled wife as well. Good faith based guy with healthy approach to life.
Great video. I am not 50 but still need this advice. Do you offer consultations? I'd be very interested. Thanks!
This is such amazing info! I want to learn here to do Covered Calls, please! 🙏🏽
Thanks Ada! I have a lot of videos on this on my channel!
@@CalltoLeap I will check them out!
Steve OMG your explanation are AMAZING! Thank you!
you are excellent. you are helping Society financially as tips. Great work, keep it up. once again thanks, its valuable info
I appreciate for sharing your knowledge.
This is great information. I would suggest if you are still working, fund your HSA first. HSA offer the triple treat- happy investing
Yep! Only if you have a HDHP (high deductible health plan). HSAs are great for taxes!
Excellent information! It was very well explained in layman's terms. I have a IRA account in Schwab and I'm going to invest in the S&P starting tomorrow. Thank you for that great info 👍.
Glad it was helpful!
@CalltoLeap It was very helpful. I'm 49 and I have a 401K with my job but it took a major hit during covid when the market crashed. I've been contemplating opening up a Mutual fund.
This video is good for those who never invested for their retirement. If you already have Roth, 401(k), individual investment accounts, just skip.
Thank you! This was incredibley helpful!
Thank you!
I have a question? Say when you invest 500 dollars a month for the next 40 years. Where does the say if you need to cash out a little? When is a good time to sell. When your investment stocks skyrockets?
51 and can relate to this. I've really been investing more of my income into 401ks. The gains have really been remarkable within the last couple of years.
😂, awesome video but most people in this age group only have 200 - 400 a month extra to spare most of the time.. sometimes even way less.. realistically, it can be done but not at the numbers you're talkin about
Thank you for all this info
Great video, thank you. Yes, please put together a video on covered calls.
Do you think now is a good time to sell some stocks, or should I hold onto them for the long term? I'm considering rebalancing my $180k portfolio and would love to hear your thoughts on the best investment strategies for this year.
Thank you for this video. I deposit monthly into my Roth IRA and brokerage account. I invest in VOO, Sp& 500, and REIT. I want to know about the monthly deposit. Right now I deposit monthly into my accounts but it just sits there. I don't know how to invest my monthly deposits into the current stocks I have right now. Do I have to continue to purchase stocks with my monthly deposits? or can I add it to the stocks that I currently have right now if so how do I do that? Do I sell what I have and buy more with the money I deposit into my account? I'm so confused about depositing my monthly deposit. Please advise the 62 year single women.
Thank you for sharing these steps! Sharing it w my son. I’m in book tour myself in NY today. Book on healing from divorce called “THE SUN ALWAYS PIERCES THROUGH” ☀️
Thank u pal!! Great info and to the point! Gives me hope!! 🙏🙏 do you have a company you could recommend to start a Roth IRA with?
Thank you. Great information learned alot.
Glad it was helpful!
Hi Steve, thank you for the time you take to educate us about money. Kindly advise, is what you are saying only applicable to US citizens because I am in Africa.
great stuff!! (Is it possible to do video on covered calls.
Yes! I can do that next!
@@CalltoLeap im waiting for that video as well. Thank you
Thanks Steve, can you do a video how to do toll over roth IRA if income over the roth IRA limit? Thx.
I can keep this in mind!
Steve - great video !
Question- can you please do video for back door Roth in Fidelity?
Great videos. Thank you
Extremely helpful. Thank you. 👍
You're welcome! Thanks for the support George!
What are CDs? What are Cover Calls?
Steve, I have $50k from my parents estate. I’m 57 and would like to retire by 65. What should I do with it to have the most at 65.
I will do cover calls or secure puts to start collecting passive income.
Put it on red , 3 times .. after that go apply for welfare
Thank you, Steve. Very helpful.
Glad it was helpful! :)
Please do a video explaining how to do cover calls.
Sure, I have a lot of videos on this! :)
Well said. Thanks!
Can you buy more than one type of ETF with the money you put into your roth every month? If so, do you recommend doing that?
I am 47 and making the most I have ever made from my six figure job, 401k match, and an entire business I have. I am maxing out my 401k contribution to the max allowed and roth ira for me and my wife and also a iul life insurance policy. I have no debt and a paid off car and cheap home so just throwing money into retirement.
Thanks for the info 👍
No problem 👍
Isn't there a limit you can invest in your Roth IRA each year? Is there another account I can use to be able to invest more?
I'm 46. How can I invest when filing married but separate; we have not filed together in over 10 years. I started regularly investing in my employer 403b and a little in the Roth 403b,
Hi Steve, I’m in my 60’s, have 403B. What other investors I get into to boost my retirement portfolio?
Hi! If you're still working, you can open a Roth IRA, or even look into a TBA!
@@CalltoLeap Hi Steve, can’t qualify to a Roth IRA due to my income, I have a 403 B . Is the earnings on TBA taxable?
This was VERY informative!! Thank you! Question . . . If I’m only allowed to contribute $8k towards Roth IRA, how can i save 2k every mo.? Won’t i get penalized for exceeding amount?
Also, please make video on TDFs. First time hearing about it.
Thank you for sharing your knowledge!
You will invest that money over 8K into a taxable brokerage account, not the IRA. Yes you will get penalized if you exceed the 8k so don't do it.
Do you pay on taxes on dividends even after you retire? And if so, at what rate?
Thank you! SPY Covered Call video would be great!
Question: To make future Covered Calls on SPY….Do you buy SPY in your Roth Account or your regular Fidelity individual account?
I can make one in the future!
If I open a Roth IRA with Fidelity, can I transfer my current Roth IRA (from my Credit Union) to the Fidelity Roth, so I can invest it?
Yes you can. Be sure it’s a transfer and not a withdrawal. There are specific forms to do this.
Interesting advice but if you are just get started in your 50's statistically you are in the highest tax bracket you will ever be in. Would not a regular brokerage be better than a ROTH at this age? Or even better yet a pretax account like your employer's 401k?
I don't think having a ROTH is bad at any age but as you hit your 50's it is not giving you that much tax advantage.
Perhaps you will suggest this later in the video but your 50's is the right time to consider downsizing in home. Most people will have their home mortgage mostly paid off and they can sell, downsize and invest the difference. This could be especially helpful if you really have not saved anything yet. Your home's equity can give you a boost early on in your savings/investing.
People are working longer so I would not panic about it. Just stay healthy!
What's the difference in the final numbers when investing in dividend funds vs growth funds? At the end of the line the numbers similar? Thanks for the great video.....
Nice one! Thanks for sharing! 👍
Of course! Thanks for the support!
Hi can you make a video where you show how to do all this in vanguard? Or please direct me to one you've already made. I had trouble navigating and understanding their website. TIA
What’s up with low index funds? Everyone seems to be saying this is the best to invest in?
50? Why is the face in the thumb nail..50 fabulous! 😊😂
Past a certain income threshold there is no tax advantage I just discovered after doing my taxes (I think it’s 87K per year AGI) basically I wasn’t able to take any deductions on the IRA contributions
Great episode. Thanks!
Thank you 🙏!
Hi! may I ask you to make a video about coverd calls ? Thank you
Outstanding video!
Thank you very much, Tammy!
You are a great son, and I wish you the best in life. You are a WINNER...
A big thank you! I'm 51, no job and living off my inheritance, which is slowly dropping. Instead of investing every month, would I be able to invest one amount and leave it alone till I retire? Thank you again. If you offer services please let me know.
Yes! You can invest a lump sum and let it grow. Ideally, you'll want to contribute more money to have compounding take off at a faster rate.
Nice video. Thanks.
I have a 403B plus Three high yield savings accounts. I'm 58 and would like to retire at 66. Considering either a VOO EFT or the Roth IRA. Any ideas?
can I invest one lump sum rather than monthly?
Very educational! Are you taxed on the 4% of the assets sold? I heard in another video you can set up a transfer back to your bank account, so if this becomes income, it has to be taxed, right?
what to do if income restricted from contributing to roth iras? what other retirement accounts are there that are tax free? can you do a video on backdoor roth iras?
Thank you I could just about keep up but I'm in England. Can you do one for English people. Also what are cds?
If you’re in your 50s still working some scrub job and/or laboring under 10s of thousands of debt, you’re probably screwed. But if you have a job with a paycheck that went up with your years - say $80-$100k - and just didn’t build a savings or lost it, you still got a shot. I built a $700k portfolio investing $3k a month over 9 years. Yes, it was hard - though not as hard as I thought it would be. And I did it even with the 2008 stock market crash interruption. Having $700k when you reach 60 something isn’t that much. But it will keep you from dire poverty.
Just starting to watch this video. I'm hoping this applies to Canadian Citizens
63 with a 403b 2 years to invest God willing...what do you suggest?
Starting after 50 years of age, with a low income tax bracket, is it better to maximize contributions to the Roth first? Why or why not?
For most people, it's better to invest in a Roth because you get taxed on the "seed" rather than the "harvest"
This has a lot of usable information for an older person. However, there are earning limits associated with Roth IRA that i exceed for a single person. I need that sort of tax arrangement. What sort of plan is good for me at this point to add to my retirement?
Back door Roth conversions and HSA
Is this for US only ?
Hi, can I still invest in the individual investment if I already maxed out my 403B? Thanks in advance for any help
46 and never contributed a penny. My work has been doing it for me… it is $500k+
(Thank goodness- i work for a university hospital)
Ah, that's awesome! You can also look into your own individual retirement account too (without the need of an employer).
@@CalltoLeap i have started contributing to 403b (roth) and 457b… plus opened a brokerage account and roth ira (i am researching back door Roth since i make too much)
I only listen to people that have made there wealth I hope you are a millionaire 🤔🤔🤔🤔 or no show 😉