Pay Yourself First Roth IRA Self-Employed TaskRabbit Tasker 2022

by Retirement Advisor | Nov 18, 2022 | Roth IRA

Pay Yourself First Roth IRA Self-Employed TaskRabbit Tasker 2022
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If you are self-employed you don’t have any matching 401k to benefit from. Instead, you need to make sure you pay yourself first. What I mean is, regardless of how much or little you make, you should always try to at least save some of your hard-earned money for your future self. Generally, this means contributing a percentage or amount of your monthly earnings into an emergency savings account or a retirement account such as a Roth IRA or a Traditional IRA.

In this video, I jump into my Roth IRA and show you how I am contributing to my Roth IRA account each month and paying myself first. Since I am self-employed, I make money from gig apps such as TaskRabbit, Fiverr, my general labor business, and my consulting business, so my cash flow isn’t consistent from month to month. However, I know what months tend to do better compared to others, so it’s still fairly easy for me to budget despite not getting a regular consistent paycheck such as a full-time employee.

Since there is a $6,000 annual contribution limit for the Roth IRA, you want to make sure your actually contributing that much. But trying to perfectly time the market can be tough which is why dollar-cost averaging is a smart approach. That way if the market is bullish and continues to dip for an extended period of time, you can still benefit from the heap prices!

If you are a tasker on TaskRabbit and haven’t started your retirement planning, this video is for you!

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EQUIPMENT USED IN THIS VIDEO

MacBook Pro 13-Inch –
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#PayYourSelfFirst #RothIRA #TaskRabbit #TaskRabbitTasker

DISCLAIMER: Any use of other media is fair-use only. Educational and entertainment content only. I am not a CPA or attorney, and the information in these videos shall not be construed as tax, financial, or legal advice.

Financial education and financial literacy are essential for us here on this channel. We want to empower others to take control of their lives by improving their finances, including making, managing, and growing money. Make money with a job and gig apps such as TaskRabbit or Fiverr. Or make money by starting your own business. Budgeting and financial planning are critical for managing your money. Investing in stocks, including dividend or growth investing, may help you with growing your money. This is one among many ways to potentially help you start increasing your income and making more money. Join the journey as we continue working towards financial freedom….(read more)