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In this video we look at a Roth IRA VS a Traditional IRA and try to work out which is the best for you.
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For 90% Roth is a way better way to go. Huge tax savings when you are older.
Bro this was hilarious! (And quite awesome) I hate I waited so long to watch it. Keep it up!
Just to be clear – income =/= wealth.
I want a super it’s with no taxes upfront because it is retirement and no taxes when your withdrawal
Who knew the "Financial Shifu" could play guitar?
Hi, Ben! Thank you for your videos. I must say I like this direction for your channel. I like the broader scope. I hope you don't mind my saying so. I also like how engaging they are.
I have a Roth and a 401k through my job. I'm also a full-time employee who's paid hourly and biweekly. Where do I fit in with this stuff?
The problem with Traditional IRA is you will pay income tax on distributions. Compare that to a traditional brokerage account in which you will pay long term capital gains tax which is potentially 0 if you don't need to sell much each year.
Do you recommend having an IRA if I have a 401K?
Great video but… glaring omission of the "backdoor" Roth IRA contribution.
Credit Shifu I just learned about your channel a couple weeks ago because I was getting the credit card game. I was scared to see you were switching your content but I must say I’m very glad. Glad to be here with you
You forgot about back-door Roth IRA
Question. What if I start a roth now at 20 years old, and say when im 30 I am to rich to contribute. What happens to that roth? Can it just sit there compounding interest while I open a traditional or do I have to close that roth?
I don't see the tax exempt list in bio of video nor pinned comment.
I’m in that boat with the Roth IRA – earn too much to be able to contribute to one. Sucks but also a good problem to have lol
Good content. Hard to make the subject exciting, but you did a good job
neither is better
Plus most likely government also raises tax rates in future. and it will cost more to retire when you have to pay income taxes factoring inflation.
Hey Ben, I'm on an F1 student visa in the US (from the UK too lol), but I am able to contribute to a Roth IRA. I'm currently employed for my STEM OPT.
Good to know, than you Ben!
Is the back door ROTH IRA gone now
For clarification, when you say you contribute to a Roth IRA if you earn more than X, that is "modified adjusted gross income", correct …. not gross earnings?
it’s scary not saying “ the credit shifu “ anymore :/
Hey Ben, I live in canada, so even though most of this content (and the credit card stuff) is irrelevant to me, you still present it in an entertaining fashion & I still love your channel! Keep it up!
As long as you keep Grogu, I'm fine with the name change 😎
I just came to watch the fun skits! Great video.
"Ben Hedges?" Why tf is this??
Clicks video
Ooooh…
Great content that many people should know about! Currently 23 and glad I started early when I did!
Years later, wouldn't a ROTH be better since the gains grew tax free? Who cares about the taxes on entry, it's all about the taxes on gains afterwards that were compounded year after year
Liking this content!
Second!
Nice one
WHAT ABOUT AN SEP
Come on