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How To Invest In A Vanguard Roth IRA For Beginners 2020 (Tax Free Millionaire)
In this video I will use the vanguard app to invest in my Roth IRA. We will look at my vanguard Roth IRA portfolio and the index fund that is inside of it. Vanguard index funds are a great way to fund your Roth IRA and set yourself on a course to becoming a tax free millionaire. This can be done because the Roth IRA is a tax advantage retirement account that grows tax free over time. It has no RMD’s and can be used for a first time home purchase as well as qualified education.
The Roth IRA is one of the easiest ways to reach Financial Independence. This investment vehicle allows you to invest money and have it grow TAX FREE for your entire life! The Roth IRA has other amazing perks as well as helping to purchase a home or go to college. You do not need to be intimidated when investing if a Roth IRA. I have seen so many people in the FIRE Movement use the Roth to their advantage and I want you to follow the same path to Financial Freedom!
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DISCLAIMER: The content discussed in these videos are solely my opinion and should never be used as financial advice. This channel is for entertainment purposes only. Make sure to consult with a professional before making money decisions. This video and description contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission; all of which helps grow the channel! Thank you for your support!…(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
What Is A Roth IRA https://youtu.be/I4_jpI9hx5s
How To Buy VTSAX https://youtu.be/P8b2aWQ1BHo
What Is The Backdoor Roth https://youtu.be/dBXQNqpnmSY
To open account in Vanguard for Roth IRA is there commission fee? Transactions fee when you buy and sell eft? Annual fee? Because I want as possible less fee or free99. Thanks
How do I know if I am doing the settlement fund in vanguard? It looks like I’m doing the Roth IRA. Please help lol.
My wife doesn’t have a income so she can’t have a ROTH IRA? We file taxes jointly and don’t exceed the income limit.
your background is mad aesthetically pleasing ngl
I am a professional baseball player and probably 25% of my teammates invest in Roth IRA. Over the years I have helped at least 10 people with creating their Roth IRA. They’ll probably be thanking me even more later. Great video man…
I've been giving the exact same advice, but coming from a 20 year old doesn't generally stick.
' yolo on dogecoin and robinhood' LMAO exucse u 🙁
Do you plan to sell anything in the IRA when the market crashes?
Thx for transparency Brad! I like VTSAX too.
Vanguard charges $1 for option trades way high I like td
I'm confused about the income limit. If I'm single and make only 70,000, will I be penalized and have to pay?
Quick question. Am I able to invest in a Roth IRA if I live in another country and have US bank accounts?
The IRA isn't my favorite because I don't think I'll live that long and I don't have any beneficiaries
Do you think the price for VTSAX will lower in the coming months? And I’m referring to the share price so to speak. I have money contributed to VTSAX. but I feel like it’s extremely high
I love the Roth the only thing I don't like and I think others agree and have the same problem is, I don't like the fact that there's a max limit of what I can put in. id like to freely put what every I want when ever I want will no limit.
Thanks! We love your information and knowledge!
anyone put REITs or BDC or MLPs in theirs? I hear BDC or MLPs might give some issues around tax time?
Hey Brad I have a question. I have a Roth IRA and it generated profits but since I can only contribute $6K/year so $2k profits available to trade or withdraw, basically just sitting there. Can I add those to my Roth despite the cap?
Can you explain in a reply here on when you realized you reached the income limit and called vanguard saying you over contributed/non qualified to contribute, was your income too high and you weren’t qualified to contribute at all? Or was your income too high, and you could contribute to the reduced amount and over contributed that amount? Then, what did you tell vanguard and how did they sort it out for you? You may reply here and then make a video in finer detail.
A honest and transparent video, willing to show your P&L and be honest and say, hey, I am down $5K from a few months ago.
Please stay true and don't become one of these guys afraid to lose their subscribers and thus start faking their results.
I completely agree with you about the ROTH! I currently have $160K and have been able to contribute $7000 for the last several years since I am 58. I have $625K in my 403(b). Just wish I would have started a ROTH at 21, I would be close to a millionaire by now.
Hi Brad , Question : when you say tax and penalty apply withdrawing money before 59.5 , do they apply to the growth only or to the principal ???? lets say i contributed 6k , it grew to 7k , in the case of early withdraw , do the penalty and tax apply to the 1k growth or to the principle as well ??? i heard tax apply on the growth , penalty apply to the principal , is this correct ? i am a big fan of your channel.
My wife and I are 30 and I just set us up with ROTH IRAs through Vanguard last month. We were able to contribute $12,000 total so far between both of our accounts from last year and this year. We have all of our money in VTSAX, and current have lost $75 each, obviously we're only 1 month in, but still hesitant on everything. Any words of advice? Thanks again for the content!
I have an existing tIRA with Vanguard. Can I simply start a Roth IRA type account and contribute even though I am over the income limit?
Great video! I have the exact same setup for my Roth IRA but only started in January 2021. I was just wondering how I get to this page you show on Vanguard's website to check my dividends?
Hey, if im doing the wheel with Apple and im doing pmcc with Apple. They won't interfere with each other will they?
Thanks for the video! I stopped contributing to my Roth when I moved abroad. Can A US citizen still contribute if he lives and works abroad? Thanks!
Roth IRA is definitely one of the first investing steps everyone should take, great video 🙂
No, max your Roth401K up to the company match limit first THEN max your Roth IRA and if you hit the limit, go back and up contributions to your Roth 401K. DONT GIVE UP THE COMPANY MATCH.
Great video Brad. I love how you stress to make sure it's invested, I too have seen people put money into retirement acounts and not do the investment step. I'm selling options in my ROTH, seems like an ideal place to get the options premium income and short term capital gains without tax concerns.
I can't remember if you answered this question previously, but would you think it better to invest in a Roth 401K or a Roth IRA? Thanks.
Well can you use your divided income from your investment account to contribute to your Roth is that earned income? I'm in situation where I'm trying to work hard on saving up every penny I can do underlined medical conditions that will force me on disability at some point so been saving in a traditional investment account but if can be passed on to my kids I might try it out .
What if you pass away at 58
What is the difference between opening a Roth IRA versus UTMA for my toddler son? Both are post tax and UTMA has a much higher limit. Roth IRA, you can withdraw your contributions anytime whereas UTMA money is locked till 18. Is that the only difference?
Hey Brad, thoughts on VTWAX?
And should I transfer out of VFFVX
I completed a roll-over and wanted to transfer into a Roth IRA till someone told me the taxes needed to paid up front. So i been putting it off mainly on confusion and if paying the taxes worth it or just open a Roth IRA along side the roll-over.
Bad advice. Max fund an index universal life insurance is the because you can use the cash value any time.
Brad, because of you I opened up a ROTH for me and my wife. Had never heard of it before, thank you for your financial education! What do you think about VOO? How’s it differ from VTSAX? Thanks!!!
Brad, I have a 403Bb and haven't done a Roth. My understanding is that 403b might be a little better for me since I'm a bit older than you and closer to retirement? My employer's limit for 403B is quite high, around 20k, so I don't max it out but I do put a pretty healthy amount in there!
They don’t do it because they have no clue what it is as schools teach nothing about this
Great video Brad! opened a Vanguard ROTH IRA account, purchased two ETF's (VTI and VOO) and notice it says " First in, first out (FIFO)". What does this mean? Not sure if I did it correctly. Thanks in advance.
Excellent video on the Roth IRA, my young adult kids have just started theirs. Sharing this with them.
Are you more of a time in the market versus timing the market guy when it comes to your Roth IRA?
My 18 y/o son started working in 2019 and I am glad that I opened a custodial Roth IRA at Charles Schwab for him. He contributes $100/month and has three ETF’s in it. He also has a M1 Finance account that he invests $50/week. Trying to instill this mentality at an early age so he has a better life as an adult than I. Good Video Brad,
2020 done, 2021 @ 1k to go
Love the Roth IRA. I max my wife’s and mine out every year. Mine is straight VTSAX and I use my wife’s for more individual stocks (growth, dividends, and REITS). I also sell covered calls in my wife’s to earn that tax free premium.