Roth IRA Investing For Beginners: Here is a COMPLETE guide on how you can become a Tax Free Millionaire using a Roth IRA. This video includes all the information you need to know about a Roth IRA and how EXACTLY you can achieve this goal.

⏰ Timestamps ⏰
00:00 Intro
01:11 What Is A Roth IRA?
02:44 Rules To Follow
06:32 Where To Open A Roth IRA
07:48 How To Open A Roth IRA
09:05 Building A Portfolio
11:24 Tax Free Millionaire

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📝 What is a Roth IRA?
A Roth IRA is an individual retirement account that by U.S. law allows you to invest after tax money for the benefit to withdrawal at retirement (minimum 59.5) TAX FREE.

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Link to open up a Roth IRA on Fidelity:
Link to Vanguard:
Link to Charles Schwab:

Pros:
1. Withdrawal Tax Free
2. Time for investments to grow
3. You can withdrawal contributions any time penalty free and tax free
4. You have control on how you want to manage the account

Cons:
1. Income Limit: If you have to high of an income then you are unable to contribute to a Roth IRA.
2. Contribution Limit: How much you are able to contribute to the account every year.
3. Can’t withdrawal earnings before 59.5
4. Withdrawal earnings early and pay taxes and 10% penalty.

Why are Roth IRA’s a great approach when planning retirement?
With proper planning and discipline, a Roth IRA by the time you could retire could truly save you hundreds of thousands of dollars from paying taxes but also the benefit of holding onto investments over the long term.
WHY?
If you were to invest for 20, 30, even 40 years and hit the max contribution every year when investing in strong funds, the chances of your accounts value being high is likely. Paying taxes on a portfolio that high would come with an extremely heavy cost, but paying no taxes would save you many years of working.

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Sources:
Peter Thiel Roth IRA:
Withdrawal Rules:
Contribution Limits:
Historic Market Returns:
Roth IRA Info (IRS):

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Disclaimer: The information provided in this video does not, and is not intended to, constitute legal, tax or financial advice; instead, all information, content, and materials available on this video and on this channel are for general informational purposes only. The presenter is not an attorney, accountant or financial advisor. Viewers of this video should contact their attorney, accountant or financial advisor to obtain advice with respect to any particular legal, tax or financial matter….(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

If you’re looking to become a tax-free millionaire, Roth IRA investing may be the key to achieving your financial goals. A Roth IRA is a retirement savings account that allows you to contribute after-tax dollars and withdraw tax-free in retirement. Here are some tips on how to become a tax-free millionaire through Roth IRA investing.

1. Start investing early: The earlier you start investing in a Roth IRA, the more time your money has to grow tax-free. The maximum contribution limit for a Roth IRA in 2021 is $6,000 if you’re under 50 and $7,000 if you’re 50 or older. By contributing the maximum every year, you can accumulate a significant amount of wealth over time.

2. Choose the right investments: When investing in a Roth IRA, you have more control over your investments than you do with a traditional IRA. You can choose from a variety of investment options, including mutual funds, exchange-traded funds (ETFs), and individual stocks. Be sure to diversify your portfolio to minimize risk and maximize returns.

3. Take advantage of compound interest: One of the biggest advantages of investing in a Roth IRA is the power of compound interest. This is when your investment earnings are reinvested, earning even more returns. Over time, compound interest can significantly increase your investment returns and help you reach your financial goals faster.

4. Consider a Roth IRA conversion: If you have a traditional IRA or 401(k) account, you may want to consider converting to a Roth IRA. This can be especially beneficial if you expect to be in a higher tax bracket in retirement. While you’ll have to pay taxes on the amount you convert, you can enjoy tax-free withdrawals in retirement.

5. Maximize your contributions: If you’re able to make the maximum contribution to your Roth IRA every year, you can accumulate a significant amount of wealth over time. Be sure to adjust your contributions based on changes in your income or expenses. You can also make catch-up contributions if you’re over 50 years of age.

In conclusion, becoming a tax-free millionaire through Roth IRA investing is achievable with patience and disciplined savings. Start early, choose the right investments, take advantage of compound interest, consider a Roth IRA conversion, and maximize your contributions. These steps can help you achieve financial security and enjoy a comfortable retirement.