Investopedia IRA –
Open a roth IRA with Fidelity, Vanguard, Wealthfront, your local bank or credit union. Ask about opening fees, maintenance fees, closing fees (if you eventually want change companies)
Start contributing NOW! Figure out where to invest it later. Getting it in the account is #1 baby step.
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Investopedia IRA – https://www.investopedia.com/terms/r/rothira.asp
Open a roth IRA with Fidelity, Vanguard, Wealthfront, your local bank or credit union. Ask about opening fees, maintenance fees, closing fees (if you eventually want change companies)
Start contributing NOW! Figure out where/how to invest it later. Getting it in the account is #1 baby step.
Good and simple. thx my dude
I heard there is a risk that you wont get your money, or lose it from inflation. Is this true?
Definitely will, thank you!
Thank you for the info.
Any ideas on how to get an IRA Roth back? I opened one in the 90's and I moved out of the country, now I am back and would like to start contribuiting to it again.
Thank you!
Thanks !!!
I wish I could like this more than once! I've had Roth IRA since 27. I wish I had started earlier though.
Agree with everything said! I know you mentioned this isn't comprehensive but for your audience (resellers and/or self employeed) I'd also definitely suggest SEP IRAs. Higher contribution limits but function similar to a traditional IRA other than that. Keep up the good work and preach financial literacy my friend!
So I’m 16 and I have an income with a W-2, can I get a Roth IRA or do I still have to wait till I’m 18?
Really got me thinking. Thank you!
Good interesting video. Was having this talk few months ago with my CPA.
Considering I am 68 (next month) this is something I wish I had known many years ago!
Nothing wrong with Roth Ira. BUT dont discount the traditional IRA, especially if you are just starting out/dont make a ton of money yet. Tradition IRA effectively lower your income level, which can be VERY useful come tax time (saver's credit). For example a couple years I dumped 4-5 hundred into an IRA and got the same amount more on my tax return. Can't beat free money. And speaking of free money, if your work for a company that offers a matching 401k, do it. And 401K contributions qualify for a saver's credit too.
What happens if the economy crashes? Does that affect your IRA ?
here is a good article if you are already Maxing out your 401K and Roth IRA …. Something i never heard of was a SEP IRA for Self-Employed /free lancers. Maybe something to look into for sole proprietors and people that own a side business. https://www.rothira.com/maxed-out-roth-ira-put-money-here
Making my 17 year old watch this video! Important to do this when your young.