In this video, I share 5 benefits of a Roth IRA that you must know about!
A Roth IRA is a retirement account where you contribute after-tax money to invest in assets that grow tax-free.
The amount you can contribute in 2020 is $6,000 in total. However, you are eligible for a catch-up contribution to the Roth IRA of $1,000 per year if you are 50 or older.
At age 59.5 you can take out all the money in the Roth IRA tax-free and penalty-free. Meaning, whatever is in that account is yours to keep, without any penalties or taxes of any kind!
Please watch the entire video to understand the full benefits of a Roth IRA!
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My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.
This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
I wish Roth didn’t have a ceiling! And also, that I knew it existed at age 15 when I started working! 14 years of growth wasted
Marko, killing it again. Im becoming such an old man watching your videos but Im loving it.
Let's say you gross 100k
But your net income is 55k
So let's u owe irs 13k
In now with the same income u putting 6k year into roth how much will you save??
So I believe that 49k in net that u have to pay in taxes ?
thank you brother. Answered so many questions.
What type of stocks do you put in different types of acct. Roth, traditional, etc.
THE SECRETE TO MAKING MILLIONS IS SAVING FOR A BETTER INVESTMENT. I ALWAYS TOLD MYSELF
I DON'T NEED A NEW MASERATI OR AN EXPENSIVE VACATION JUST YET. THAT SINGLE MINDSET
HELPED ME TO MAKE MORE MONEY INVESTING. I MAKE STEADY WEEKLY PROFIT BY
INVESTING THROUGH A PORTFOLIO MANAGER, SUZANNE STEPHENS ELLIS.
IT IS GOOD TO HAVE MORE THAN ONE STREAM OF INCOME.
Hmmmm
Nice! Can a 401K plan be rolled over to an Roth IRA?
wait, is there a way to have more than one roth ira or is that illegal?
since I am over 59.5, how long must I wait (after depositing), to withdraw dividend payouts from a Roth IRA, without a tax hit?
Hi, is there a certain amount required to open a Roth IRA?
If you have monthly dividends as your Ira portfolio with automated reinvestment going through the Roth until the 6k point and then…?
Great info thanks for sharing
Thank you very much. Your explanation of IRA and Roth IRA is excellent and very easy to understand for a beginner in investing,
Great Video!!! Simple and easy to understand.. Mt biggest question is why most people don't invest in their IRA? Is it lack of funds or? Realistically what can u loose long term 30 years plus?
So i just put money on the account every month and it will grow or do i need to pick a stock or something to make it grow?
This was such a nice explanation of an IRA. Thank you!
Question right, so the $6000 i put in every year do i need to do my own stocks and investments or is that automatic?
I interested a Roth IRA…however with my last employer they matched at 6% I want to roll over should it be with my now new Employer’s 401k or should I put it in a Roth IRA. I am interested in info for M1
Thank you
Thanks Marko
Great video. This is all assuming you make less than 125k annually(single) for you to even contribute the full 6k a year.
Don’t forget income limits on contributions
Helpful interesting and so important
Great advice Marko! I got a Roth IRA when I was 21 with T.Rowe Price. I’m 36 now and still contributing.
But I want to master my wealth and build my money…
I was told by my financial advisor that if you make over a certain amount you can’t contribute to a Roth. I was a nurse and had opened one in my hospital I use to work for. Now I’m a nurse practitioner and I am making a lot more and combined house house hold is around 200k. I would like to keep contributing.
Off subject but ppl keep saying we didn’t learn this in high school but I did and it was public schooling
I’m wondering if I should switch from my 401k to Roth IRA
Can I roll my 401k into a Roth I. R.A? If so, how…
I’m on my credit unions website it is asking me about withholding for a Roth IRA not sure if I understand since it’s tax free
Gee. the US govt lets people keep their own $$ THEYRE SO NICE!! ^^
Dude you have lit a fire underneath me and I am going to make some huge changes in my spending habits. Thank you so much man.
Does the IRS considered it income when you withdraw from your Roth IRA?
Does the 6k a year max include a company match? ?
Brother an excel sheet on this would be grand
can you still have a roth IRA if you contribute to employers roth 401k?
Roth IRA eligibility laws stink. Married and filing separately can't make over 10K AGI. That's ridiculous. How can a person invest and not get sucker punched by the stinking government?! I pay taxes as a single person, not married. I file taxes as a single person – pay the same stinking tax rates as a single person and only get the same deductible ($12K, single filing).
I like the fact that you mentioned using Roth IRA as a hybrid emergency fund. I've always treated my Roth IRA like this, but I've never heard of anyone else mentioning this as a benefit of a Roth IRA instead of a Roth 401(k). Even before the current low interest environment, it didn't make sense to have a huge chunk of money sitting in a savings account or even a CD at a bank for emergencies, earning less interest than the inflation rate. I'm 42 now, and I still haven't had a need to tap into my Roth for emergencies, so it stays there earning much higher rates than in a bank.
I was worried Marko wouldn't write on the whiteboard – keep bringing that financial ASMR!