In this video, we will talk about what would happen if you max out your Roth IRA by age!
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REVEALED: Best Gold Backed IRA
Hey Andrew, how aggressive should you be by age? I assume that you should choose the most aggressive in your early 20's but when do I start toning that down? And by how much? Thanks!
Son is 20! Boom perfect timing
Do you prefer to max out Roth IRA rather than put it toward other investments? Let’s say I want to invest $10,000/year. $6000 to IRA and only $4000 invested in other things?
Does it matter if you contribute in a tax year vs a calendar year?
You could have even more money if you front load it in January.
"Well well well, you're back"
Me: "Omg, how did he know?"
Jokes aside, thanks for the videos and podcast! I always thought it was fascinating; if you invest just a small portion of your salary, you'll make more from investing than you ever would from your own job. My math tells me that with an average ROI of 9%, 19 years of investing 25% of my salary will lead to the point where I make MORE from investing than from working. I really wish schools did more than the bare minimum teaching finances to kids.
So were does the number 4.3 million come from? When I put the information age 20, $6,000 yearly contribution at a 7% increase into a Roth IRA calculator it comes out to be closer to 1.8 million.
Are you able to buy fractional shares of ETFs? Or do can you only buy whole shares at a time?
Is there a specific company that you recommend for starting a Roth? Or any companies to avoid? Just not sure how to get started. Thanks in advance!
Hey Andrew thanks for the vids! Any chance you can provide some guidance on mutual funds to invest in for the Roth IRA? It might provide more perspective to this video.