This video is for those who want to know how to start investing for retirement and what retirement account is the very best.

#investing #rothira #traditionalira

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Traditional IRA is tax deductible when you make contributions, but you must pay taxes when you withdraw from it.

– Example: Start at 20 and invest $6000 per year at a 7% interest rate until the age of 65.
– Pre-tax balance @65: $1,834,511
– After-tax balance @65: $1,599,334

Roth IRA is NOT tax deductible when you make contributions, but when you withdraw money after 59 1/2 you won’t pay any taxes.

– Example: Start at 20 and invest $6000 per year at a 7% interest rate until the age of 65.
– re-tax balance @65: $1,714,496
– After-tax balance @65: $1,714,496

Roth IRA is better!

Another reason why the Roth IRA is so much better is because we are able to more. accurately plan for the future with the Roth IRA versus the Traditional IRA. With a Roth IRA you pay our taxes up front and get the tax benefit later. With the Traditional IRA you tax the tax break up front and then pay taxes when you withdraw the money in retirement.

If there is anything I’ve learned it is that things change, and odds are our averages tax rate will increase considerably. With that in mind, I think it is wise to pay the taxes up front and then use the tax break in the future where it could potentially save us from having to pay a 50% tax rate.

Also, this is a great fund to buy into. Fidelity Select Software & IT Services Portfolio (FSCSX) – it has had YTD gains of 29.14% and has averaged a 16.05% return since its inception over 4 decades ago. This is a very aggressive growth fund and I would highly recommend it because the companies that are contained in the fund are likely going to be around for decades more to come. Stimulus checks, second stimulus checks, Stimulus check, second stimulus check….(read more)

LEARN MORE ABOUT: IRA Accounts

INVESTING IN A GOLD IRA: Gold IRA Account

INVESTING IN A SILVER IRA: Silver IRA Account

REVEALED: Best Gold Backed IRA