Everyone says to invest within a Roth IRA. I explain what it is, and why I don’t have a Roth IRA
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Today we’re taking a look at the legendary Roth IRA. Hailed as the #1 retirement investment account in the world, I want to explore what it is exactly, and why I don’t personally have one. So – what is a roth ira?
I share with you my robinhood app account and show you my dividend growth strategy for early retirement. Before discovering this strategy, I used vanguard’s roth ira and I invested into index funds but I’ve always been fascinated on how not to pay taxes.
So a roth ira is a “tax advantaged account”. Originally known as the ira plus, the maximum limit on contributions was just $2000 and limited to people with very low incomes. Nowadays, the roth ira has a maximum income cap limit. However, a roth ira itself is NOT an investment.
A roth ira is an account that contains the tax advantaged investments themselves. For example, you can put growth stocks, dividend stocks, mutual funds, bonds, CDs, and cash inside of this investment account. The idea is that you can pay taxes on your income now, and withdraw your money post capital appreciation absolutely tax free.
However, there are pros and cons to holding and investing within a roth ira for someone in my position. Today I want to properly explain this retirement account and show you the advantages and the disadvantages of having a roth ira
Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!
*Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
#rothira #roth #401k…(read more)
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Dude. Love your content but this doesn’t make any sense. Just throw your chump change into the Roth. You’ll be happy you did. You’re also steering lots of young people into the worst mistake they could make… not using Roth early. Irresponsible vlogging man.
this needs a ton more likes!
pretty good dude
Pov. You watch this video at 401k views and you laugh a little bit.
Lmao. That V sauce impression was magic.
There are multiple types of tax-advantaged accounts. Seven I can think of right now. The CW is to max these out before opening a brokerage account. FYI for newbies in the comments.
What an amazing video Andrei. By far the best Finance Youtube Channel in history.
Subbed
Wikipedia! LOL,…. for those that believe everything they read on the internet!
Summary: If you're saving for a house, or will need lots of money for the near future, don't tie it up in a ROTH IRA.
If you're self-employed, making over 122,000 a year, you can't (by the rules) contribute to a ROTH IRA.
If you're a regular person, with either an employer, or self-employed, and CAN wait until the not-so-near future, then you are probably better off keeping your money in a ROTH IRA, and have a separate account for other savings and financial goals that are near term.
(sidenote: If you have a ROTH IRA, only your contributions are okay to withdraw early with no penalty)
Conclusion: Most people are A- okay with a ROTH IRA.
11:54
So you have all you’re cash parked on Robinhood?
With just one like from you today, we can provide food for Andrei Jikh❤
Love your channel Andrei! Keep it coming!
Why would I listen to your advise on Roth if you don’t know what bonds are? Everyone should have Roth IRA and start young .. saving the money instead of spending it on stupid things .. it adds up quickly
This video is great! I appreciate why you would not do an IRA investment, but I met the criteria you described as a perfect match for a Roth. I am more educated and feel much more confident in making my decision. Thanks again!
"otherwise, I won't eat this month…" Made me laugh haha
Min 0:01 you said you don't have any investments on IRA or Roth IRA… MIn 8:05 You said "I don't have my mayor investments in one (IRA)". So you are actually laying. You actually have some investments in an IRA Account. You are only interested in people watching your videos but not really on saying the true. Gotchat!!
You should read up on your legal studies/accounting my guy.. the government is not revenue constrained.. i.e. nominal tax levels have no relation to the ability/future ability of the federal government to spend… i.e it losing revenue from R-IRA's doesn't matter to the gov's ability to finance itself
This man does not know the difference between a 401k and an IRA.
I'm totally not giving up tax free growth. Why would you?
why not have both
I don't understand.
Worst analogies ever, LOL!
Great video Drei
Saving for a house? Didn’t you do a terrible house investment video