Should I Move Money From a Taxable Account to a Roth IRA?
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What about selling 4-6% to help maximize.
What's better, putting 6k into Roth IRA or paying off 6k in student loans (4.5%)?
I converted all retirement investments into a Roth. Pay no taxes later.
Where are y’all based out of? I’m a college student currently that is looking to become a financial advisor, would love to chat sometime
Really appreciate the content. Been contributing to my 401k to maximize employer match but didn’t really understand the Roth IRA side. Just started maxing that out in 2020. Looking forward to financial freedom and abundance!
You can contribute up to $7,000 to Roth the YEAR you will turn 50, not when you are already 50. I believe the catch-up contribution for 401K, TSP, etc. can also start the YEAR you turn 50.
Perfect timing on the last day that we can contribute to our 2020 Roth lol. I was short and will be moving money over because of this
Why would you torture yourself by figuring out what you lost? That serves no purpose but to make you feel lousy!
the ad from etoro and the castrated loser talking like a high school girl just ensured I will never use them
If you are tax loss harvesting, this seems like a good spot for those proceeds
I would love to see a segment on ESG scoring/Sustainable Investing. I know that this has been catching on in recent years and outside of my 401k with work I have about 50% of my assets in Fidelity's Domestic, International, and Bond Sustainable Funds (roughly following the 70-20-10 breakdown). Would love you to hear about if this is reasonable and how to financially plan for someone that wants returns but has other values than maxing out those returns.
Thank you for all the great content.. Me and my husband max out our Roth IRAs. Through my job I am required to deposit to 401a (6.2% no more or less). I do the match into a 403b (3% with a 100% match from the company). Then I contribute to a 457b. I can contribute the max 19,500 to both the 403b and 457b, which I most likely will never have the cash flow to do. Should I not be trying to max at these accounts and open a personal investment account instead? According to the work financial advisor I will be able to use the money in the 457b as my bridge account as I can take it out and any age penalty free as long as I no longer work for the company. Suggestions would be appreciated.
Sorry to be a fashion police, but their shirts are hard on the eyes.
Great clip!
Just be ready to pay any capital gain taxes on anything you end up selling and what capital gains tax bracket you might be in. If it's just a few thousand to finish an IRA contribution then it probably isn't that much gain and tax, but it is still something to be aware of.
speaking of army of dollar bills, when i was in the Army, young and starting out i got whole life insurance thinking that was the adult thing to do. man was i stupid. i had that dang thing for 31 yrs at 61 dollars a month. if i had put that into a Roth back then i would have had over 700k…..hind sight is 20/20 but i i learned and i let my soldiers and their families know so they can make better decisions from my mistakes.
I wish I could go back in time and switch my 401k contributions to Roth (as soon as that was available), and to start doing backdoor Roth IRA contributions as soon as that technique was discovered.
Maybe a dumb question, but if you're married and maxing out your IRAs and 401ks, that's $51k. How do you get to step 7 of the FOO and start your 3 bucket approach? You would have to make over $200k combined if you were going by the 20-25% savings approach, just to start contributing to a after tax brokerage account.
Money guy is the investing king! I am inspired by his channel. Money guy inspires me to continue my own YouTube channel on Finance and Investing.