This video goes over how to open, contribute, and invest in a Roth IRA at Charles Schwab. Many beginner investors don’t know how to save for retirement. Roth IRAs are one of the best retirement investment vehicles because they are accessible to almost everyone. Sometimes, beginner investors will open and contribute to a Roth IRA and then do nothing else. This is a huge mistake because you need to know how to INVEST the money that you contribute so that your retirement Roth IRA contributions are exposed to the stock market and grow over time. In this video, we’ll go through step-by-step how to open, contribute, and invest in a Roth IRA at Charles Schwab, which is a common investment brokerage similar to Fidelity and Vanguard. This is a beginner guide and tutorial on Roth IRAs at Charles Schwab.
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🕒 TIMESTAMPS 🕒
0:00 Introduction
1:00 What is a Roth IRA?
2:32 Why are Roth IRAs so great?
6:59 Opening a Roth IRA at Charles Schwab
10:41 Contributing to a Roth IRA at Charles Schwab
13:35 Investing in a Roth IRA at Charles Schwab
18:23 Conclusion
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Disclaimer: This video may contain affiliate links, meaning that if you purchase a product I may receive a commission at no additional cost to you. I do not share any resources, products, or services that I do not personally use and believe in. I am not a financial advisor nor a tax professional. The content presented in this video is for entertainment and educational purposes only….(read more)
LEARN MORE ABOUT: IRA Accounts
CONVERTING IRA TO GOLD: Gold IRA Account
CONVERTING IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
If you're currently trying to decide what investments to make in your Charles Schwab account, check out my other video that explains the differences between index funds, mutual funds, and ETFs, along with some tips on how to choose the right fit for you! https://youtu.be/GSKaCMZOgu4
Once you invested these as shown on the video, do you have to reinvest them again?
THANK YOU for being the only one to actually explain this process step by step after I watched so many other different videos. I appreciate it and will keep watching you!
So helpful. There I am contributing for 2 years and not knowing I have to set up investments. Thank you!
Awesome video! Can you please do a video on rollover IRA? Can we invest the funds of a rollover IRA? And what is the difference between a roth and a rollover? Is a rollover a traditional?
So helpful, loved this video. What comes next? As a novice, I'm wondering, what should I do next? I hope there's a follow up video!
Any difference in investing in the Schwab Mutual Funds as opposed to their ETF's? I like how I'm able to utilize specific dollar amounts in the mutual funds as you're able to buy partials with their mutual funds.
Great video thank you! I have a question, not sure if I missed it in the video – but is there a way to automate the buying of shares each month or do I have to do it manually?
Correction needed for this video: IRA stands for Individual Retirement Arrangement. The A does not stand for Account.
FYI:
IRAs are fantastic retirement vehicles, but keep in mind that they are NOT protected assets. For example, folks who live a risky life style (likely to be sued) or have a spouse in a sole proprietorship (that can go into default with creditors) then funds in an IRA are vulnerable. 401ks are assets that have more protection than IRAs. Just something to consider.
very helpful ty!
Wow thank you this was so helpful and easy to understand!!!!
So if you are married you can invest 12,000 a year into a roth? Is that what you said initially ? Also Can we do this with one account or do we each have to invest 6,000 in separate accounts?
Super helpful!
if you cant afford 1 share of the stock youre interested in are you not aloud to make a market order?
Do you have a video on adding to your Roth IRA?
I have a schwab brokerage account that i invest in ETF. I want to switch to a Roth IRA. Is it true I can only invest $6,000 worth of stock per year and the rest I can continue investing in my brokerage account?
Great video. It was exactly what I was looking to find out. Going forward, when I contribute more money to schwab Roth IRA account, does it automatically do the split for me and make purchases automatically? Do you have a video explaining that?
good shit
Most helpful video ever