What is a Roth IRA? Do I need a Roth IRA? Roth IRAs 101: Learn more about Roth IRAs:
Today I’m sharing all about Roth IRAs and why you should open a Roth IRA today if you don’t already have one.
This guide to Roth IRAs for beginners goes over a few things: why you should open a Roth IRA, what a Roth IRA is, my personal experiences with Roth IRA investing, benefits of using a Roth IRA and my recommendations on how to determine where to open a Roth IRA and which investments to pick.
Here are a few places I recommend for opening a Roth IRA*.
Traditional brokerages with low cost funds:
Vanguard ➝
Fidelity ➝
Online Brokerages with great apps:
M1 Finance ➝
Robo-advisors with low minimums:
Acorns ➝
Roth IRA tracker ➝
This video gives you a general framework for how to get started with Roth IRA investing and determining where to open an account.
Roth IRAs are amazing because they allow for tax-free growth on your money and are one of the best ways to build wealth and freedom for your future.
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SAVE MONEY*
➝ Ibotta (Cash back ) ➝
➝ Rakuten (Cash back – $ BONUS) ➝
➝ Fetch Rewards (Receipt scans, referral code, MV7RR) ➝
INVEST & EARN MONEY*
➝ M1 Finance (Investing, great app) ➝
➝ Cash App (aSend money & invest, $BONUS) ➝
MANAGE YOUR MONEY*
➝ Personal Capital (Monitor net worth) ➝
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CONTACT ME:
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➝ Buy Me A Coffee:
Mary Thompson
P.O. Box 240981
Memphis, TN 38124
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**The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. I am not a professional and this channel is for entertainment purposes only. Do your own research!!
*Affiliate links. I get commissions for purchases you make through links shown here. It doesn’t affect your purchase in any way and the commissions help support this channel. I only recommend items I personally use and appreciate the opportunity to share….(read more)
LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
Do I have to max out my Roth IRA every year? Or can I just max it the 1st year and let it sit there till retirement? will it grow by itself or do I have to pick where I invest the money so it can grow? Will I get penalized if I can’t max it out? Does it have to be paycheck money/direct deposit or can I use my savings account money to invest?
Great video!!
What happens if I can’t make the 6k contribution by the end of the year? I’m only investing 2-3 hundred monthly
I opened a roth IRA in Charles and schwab but do not Know nothing about it for exempla I'm confused on this + $5,200 .80 ( 26,284.60%) 2- year change, what it means?
Hi there its 2022 and i believe i can put $7000 in this account , can it be depossited all at once ? thanks
Great video exactly what I was looking for
Everytime money transfers from my check into the account do I need to choose where that money is being applied? Or does this automatically happen?
Thank you so much for this informative video. I feel much more confident to start my IRA now.
I work myself so i don't get a paycheck weekly.. I sell on ebay (13 years), i get daily payouts into my capital one online banking account.. I Dont pay taxes UNTIL the end of the year when i file my taxes.. Can i still open a Roth IRA and add money weekly/monthly from my ebay account?
I am a college student who will be graduating with a fair amount of debt. Right now I could only probably put $30ish a month into a ROTH, is it worth it to start like that?
Where I can invest like ROTH IRA is already passed the limit and second question what happens if I’m under the limit contribución and the next year I pass it.
I’m 23 in law school, so I don’t have a job aside from summer internships (that sometimes pay). I have some money saved up and have been hearing a lot about Roth IRAs. Can I open one with no income? & Just put all my savings in there?
And also— You mentioned how I can pull out my contribution at any time. But I can only pull out the total contribution + earnings when I reach retirement age?
Thanks so much!
This is second time watching. I just opened mine today because of you so thanks for that! I just need to listen on more time girl! I'm so new to this but I'm willing to learn.
Seriously, the best beginner video I have seen so far. I subscribed. Thank you
Such as
Wow just starting I WANT to invest 5000 in a Roth IRA. Please help
the only video that actually made sense. thank you!! haha
Is there a difference between IRAs for self-employed and employed? I tried making an account with vanguard and they want my employer number
Also, is there a type of investment account that you can withdraw from in the short term?
I don’t get it. Why can’t the company just tell me the investments with the highest return
So you can’t just leave your money in a Roth ira? You actually have to invest your money in a Roth to make it grow ?
If I sign up for a roth ira now but want to go back to school later on and possibly not have a consistent income to contribute from, can I still make an account or is it better to do it after school?
YT recommending old videos… watchinh for that google ad sense $$
How does it grow though???? By investing it to stocks or does it just grow????
Is this available for non-US citizens? I'm starting to get the feeling it isn't.
You did such a good job explaining in this video! I have never totally understood what a Roth IRA is, even though I have one, lol, but I've never been able to max out my contributions. I just bought your Roth IRA tracker to help keep me on track with contributions. The video and tracker together will be really helpful, I think.
Thank you so much. I feel a bit more confident to open my ira now. Do you still recommend vanguard?
Hi, great video.
I'm new to this and wanted to know…
Is the $$ that I earn in a Roth IRA also tax free, meaning I put $2000 in my Roth IRA when I'm ready to retire I have $200,000, is all of it tax free or just the $ that I deposited?…TIA.
Can I still open a ROTH if I have a cash paying job??
Hey so a few questions!
So it’s not just about putting money in amd walking away? I have to pick something to invest or a target date as you said.
But if it’s considered investing in then what happens is whatever you chose to invest in goes bankrupt or stock market crashes?
Maybe I’m not understanding lol
I enjoyed how you explained this information. It was personable and felt honest.
Financial Queen!
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So when you are married you can each invest up to 6k each into your individual Roth IRA so long as you make no more than 196k together filing jointly?
This is the best video I've seen for beginners! Thank you!!!!
Finally I understand Roth IRA. Thank you very much.