0:00 – 0:35 Introduction of topics to be covered
0:36 – 01:18 History of IRA
01:19 – 02:26 Traditional IRA vs Roth IRA
02:27 – 02:54 Other types of retirement vehicles that won’t be covered
02:55 – 03:31 What qualifications are there to contribute to a Roth IRA
03:32 – 03:41 What can’t be contributed to a Roth IRA
03:51 – 07:14 Using future value function to see the benefit of starting early
07:15 – 07:51 How increasing returns magnifies wealth even more
07:51 – 08:54 Basics of Roth IRA
08:54 – 09:44 Advantage of starting a Roth IRA early
09:45 – 10:20 Limited circumstances where Roth earnings can be withdrawn without a penalty
10:21 – 11:14 Cons of a Roth IRA for a teenager (not many)
11:15 – 11:36 How do I get started?
11:36 – 11:53 The exciting ending
The Roth IRA is a wonderful investment tool that young people with earned income can use to magnify their wealth. See how starting early magnifies that wealth to incredible levels.
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-All of the content found in this video is for ENTERTAINMENT purposes only. We are NOT financial advisors and are not responsible for any losses in your personal investing experience….(read more)
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we don’t need to put $500 into the account a month that’s just maximum you can put in it right?
Had this talk with my son. $65000 per year for college or lower cost schooling and put $25,000 per year in long term investments. $100k at 22 set aside, then when 55, you can have $1.5million AND Degree from more affordable school.
Great info! So no if the teen is make less than 12k they don’t need to worry about taxes. Will them having a Roth impact their college funding if the apply for scholarships or grants?
I'm 15 and I want to get into this been doing a lot of research the past days
It's amazing when you see the math of how powerful compounding interest gets if you start young! Such an important topic, with Roth's being such a powerful vehicle. Great video! 🙂
Start early, start now! Great advice! Wish my parents did it for me. I will for sure do it for my kids