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In this video, I’ll show you how to start a Roth IRA with only $500. You’ll see exactly how to open a Roth IRA brokerage account, deposit money to begin investing, pick your high growth or dividend-paying index funds or ETFs, and buy your Roth IRA investments to officially begin saving for retirement. We’ll also discuss the pros and cons of Roth IRA’s and if they are right for your investing goals.
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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
As a Filipino immigrant working as a nurse in the United States, planning for your retirement is essential. One of the most popular retirement savings options available to you as a US resident is a Roth IRA. A Roth IRA is an individual retirement account that allows you to save for retirement while potentially saving on taxes in the long run.
One of the main benefits of a Roth IRA is that your contributions are made with after-tax dollars, meaning that you do not get a tax deduction on your contributions like you would with a traditional IRA. However, the advantage of this is that your withdrawals in retirement are tax-free, as long as you meet certain requirements.
For Filipino nurses who may not have a traditional pension plan or 401(k) at work, a Roth IRA can be a great way to supplement your retirement savings. You can contribute up to $6,000 per year (or $7,000 if you are over the age of 50) to a Roth IRA, and your contributions can be invested in a wide range of investment options, such as stocks, bonds, and mutual funds.
Another advantage of a Roth IRA is that you can withdraw your contributions at any time without penalty, making it a flexible savings vehicle. Additionally, there are no required minimum distributions (RMDs) with a Roth IRA, meaning you can keep your money invested for as long as you like.
As a Filipino immigrant, it is important to take advantage of the retirement savings options available to you in the US. By investing in a Roth IRA, you can begin building a nest egg for your future while potentially saving on taxes in the long run. Consult with a financial advisor to determine if a Roth IRA is the right retirement savings option for you and start planning for a secure retirement today.
Hello sir, very informative and simple. Gawa pa kayo mga ganitong video kasi helpful talaga.
sir baka pede b msg my mga question po ako..fb messenger po ba kyo
Sir Baka pwede kayo gawa ng vid about High yield savings.tnx
Thank you for this video. Very informative. Cheers!
Sir do you consider investing to tangible and non tangible gold? I am wondering where does this money goes and where does the rewards for this retirement from. I am concern about printing of money as a federal reserve notes is not backed by tangible assets but with credit of US government. Thanks sir. More power to your channel.