Full video:

ETSY SHOP:

Financial Coaching:

About My Career:
Why I Transitioned Careers:
How I Got into the Tech Industry with No Experience:

Visit to join the FREE 5-day Salesforce Challenge or to enroll in the program to start working toward your new career!

Get on my Money Monday List:

Money Blog:

Follow me on Twitter:

💵 Support me:
💰 Venmo: @DebtOverIt

________________________________________________________________________

ACCOUNT BONUSES

💳 Marcus by Goldman Sachs HYS Account:
Earn 1.0% higher than the stated APY for 3 months (currently will be 4.75%)

💳 Capital One 360 Checking:
Open an account, set up and receive direct deposit and earn $50

💳 Discover:
Earn $100 after making a purchase in your first 3 months

💳 Upgrade Card
upgrade.com/r/7d7vlE65Kb
Earn $200 after spending $500 and making 3 on-time payments

💳 Chase Checking Account:
Earn $200 after setting up direct deposit

💳 Chase Freedom Flex:

Earn $200 after spending $500 in first 3 months
5% cash back on gas for 1 year
No annual fee

💳 CapitalOne Venture One:
20,000 miles after spending $500 in first 3 months
1.25 miles per $1 spent
No annual fee

SAVE MONEY

📱 Switch to Mint mobile for as little as $15/month:

MAKE MONEY

🌟Rakuten (earn $20):
🌟MaxRebates (earn up to $50):
🌟BeFrugal:
🌟IBotta:
🌟Fetch app: Use my code EJH9Y for 2,000 points
🌟Upside (gas): LEILA95286

INVEST & EARN MONEY

🤑M1 Finance (Get $10 after investing $100):

🤑Coinbase (Get $10 of Bitcoin after buying $100 in Crypto):

🤑WeBull (Get 2 free stocks after depositing $100):

🤑Robin Hood (Get a free stock!):

SIDE HUSTLE RESOURCES

💻 Start your own website:
Get 3 months free + 75% off your first year

🧾 Learn how to sell digital products on Etsy:

💻 Create a Course! Teachable Launch Accelerator Challenge:

____________________________________________________________________

ETSY SHOP:

MY LIFESTYLE CHANNEL:

GOAL ACHIEVEMENT COURSE:

SELF-DISCIPLINE COURSE:

CHECK OUT MY BLOG:

I N S T A G R A M :

Camera I use (Canon EOS M50):
Microphone I use:

Business inquiries: contact@debtoverit.com

*The links above may be affiliate links. This just means that if you make a purchase through one of the links, I make a small commission at no extra cost to you. I appreciate the support!…(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

Max Out Your Roth IRA If You Can!

Saving for retirement is one of the most important financial decisions you will ever make. With numerous retirement account options available, it can become overwhelming to choose the right one for you. However, one retirement account that should undoubtedly be on your radar is the Roth IRA.

Roth IRAs offer numerous advantages that differentiate them from other retirement accounts. One of the most significant benefits is the tax advantage they provide. Unlike traditional IRAs or 401(k) plans, contributions to a Roth IRA are made with after-tax dollars. This means that when you withdraw the funds during retirement, you won’t incur any taxes on the growth or earnings made within the account. This tax-free growth can make a substantial difference in your retirement savings over time.

Contributing to a Roth IRA can also provide flexibility and peace of mind. Unlike traditional IRAs, there are no required minimum distributions (RMDs) with Roth IRAs. This means that you have the freedom to leave your money invested for as long as you want, allowing it to potentially continue growing tax-free even after you turn 70 ½ years old. Additionally, Roth IRAs have no age restrictions for contributions, unlike traditional IRAs that prohibit contributions after the age of 72.

The maximum annual contribution limit for Roth IRAs in 2021 is $6,000 ($7,000 if you are age 50 or older). While hitting this maximum may seem challenging, it is essential to contribute as much as you can afford to maximize the long-term benefits. By contributing the maximum amount annually, you take full advantage of the tax-free growth potential. Additionally, the earlier you start contributing, the longer your investments have to grow, potentially yielding a substantial retirement nest egg.

It is worth noting that contribution limits are subject to income restrictions. For individuals earning more than the specified income threshold determined by the Internal Revenue Service (IRS), the amount that can be contributed gradually reduces until it is entirely phased out. Therefore, it is crucial to review the income limits and consult with a financial advisor or tax professional to ensure you stay within the contribution guidelines.

If you find yourself unable to contribute the maximum allowable amount to your Roth IRA, aim to consistently increase your contributions each year. Small incremental increases can make a significant difference over time. As your income grows or you receive a windfall, consider directing that extra cash towards your Roth IRA to max it out.

Maxing out your Roth IRA is an essential step towards securing a comfortable retirement. It offers unique tax advantages, flexibility, and potentially higher returns compared to other retirement accounts. By contributing as much as possible and starting early, you position yourself for a financially secure future.

In conclusion, if you have the means to contribute the maximum amount to your Roth IRA, it is highly recommended to do so. Take advantage of the tax benefits, flexibility, and potential growth that this retirement account offers. Consult with a financial advisor to navigate the contribution limits and ensure it aligns with your long-term financial goals. Remember, your retirement savings today will shape your future tomorrow.