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In this video, we will be discussing the benefits of a Roth IRA. A Roth IRA is a type of individual retirement account that allows you to contribute money on a post-tax basis, but allows for tax-free withdrawals during retirement. This means that you will not be taxed on the money you withdraw from the account during retirement. Additionally, Roth IRA contributions can be withdrawn tax-free and penalty-free at any time for any reason. This makes it a great option for those who are looking for flexibility and tax savings in their retirement planning. We will also be discussing the contribution limits, eligibility requirements, and how to set up a Roth IRA account. Watch now to learn more about this powerful retirement savings tool.
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DISCLAIMER: The content discussed in these videos are solely my opinion and should never be used as financial advice. This channel is for entertainment purposes only. Make sure to consult with a professional before making money decisions. This video and description contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission; all of which helps grow the channel! Thank you for your support!
#rothira #vti #vtsax…(read more)
LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
Are you maxing your Roth in 2023?
That debt example was amazing.
This time next year you will be far past that 40,000!
If I have three Roth accts can I put the max contribution in each of them or just one?
Vanguard now does fractional shares, at least in my wife's post tax account, IRA, and Roth, for her VT and VTI investments. I think this is a recent development so you may want to check again? Thanks for the videos!
You forgot about the 7% you lost with inflation. So honestly not good
Thanks for great content. I really enjoy your vids
That’s fucking right! Look at the bigger picture, always. I’m currently trying to learn more so I can earn more, eventually leading me to being able invest more. Crazy how you cleared your debt and now pushing you to do the things you’re able to do! Congrats man, that 40k will kick in soon btw haha
i started last year on my Roth IRA.. turn $6K into $9.5K but mis manage during the last 5 months and ended at $5.5K… very disappointing not at the market but myself.. this year i sworn to not make the same mistake. i haven't contributed anything just yet but im already up to $6,300 from $5.5K…. im striving for over $10K this year.. just $100 a week x 4 = 400 x 12 = 4800
Thanks for the video Brad, I just put my 6500 into my Roth IRA been maxing it out since 2020
Such a great message about paying off debt first. Discovered Dave Ramsey about 15 years ago and it began to change my financial trajectory
Great video! What happens if you buy a dividend ETF can you reinvest those dividends or how does that work? considering your cap at 6500
You could swap some of your VTI out for 100 shares of QQQ and sell covered calls now. You'll get better premium than VTI and QQQ also has better Sharpe and Sortino ratios.
I will every year till I no longer can.
You can buy fractional shares now of Vanguard ETFs
Brad, why not do the wheel with VTI, since there are not tax implications ?
Good stuff! I need to get my act together and do a "backdoor Roth IRA" contribution.
You can do fractional shares this must be an old video
Yep. In the over 50 club so $7500 this year
If you have a Traditional and Roth IRA, how often can i back door into my roth from my traditional account?
I know the "Rule Book" says to do it all in the beginning of the year, but did you debate dollar-cost averaging this year in anticipation of a market drop?
I actually just rolled my 401k and my Roth IRA over to Fidelity from Vanguard just because of no fractional shares. My experience with Fidelity has been great. User friendly, great customer support, fractional shares, and they are innovating. I love Vanguard funds and their mission statement but they have really stagnated.
I certainly hope to max my Traditional IRA again this year and back door Roth it.
I max mine and my wife’s Roth, plus I max my 401K, and she puts 6500 into her 403B. I max my HSA as well.
Hope you reach your goal soon! Cheering on from the sidelines ❤
Do you sell any covered calls on your VTI to generate monthly income?
I am black and blue from 2022!