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LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
Thanks for watching everyone! If you found this video helpful, then support my channel by giving this video a LIKE and checking out my entire playlist of videos on investing with Fidelity! https://www.youtube.com/playlist?list=PLscTZuOqKWIxSG8kRA7uxvJZQkz0q9Hko
Major of my questions in mind was answered from this video. Thank you
Hi there , i file taxes jointly with my wife , she doesnt work , does she go on the account ? THANKS
For Roth IRA, if i take out $20,000 in contributions and leaving the account with just profit, can i later start contributing back into the ira with the limit of $6,000 a year?
Word to the wise: Even if you don't plan on living long or having a spouse, or having a child, you should still open a retirement account. Life is what happens when you're making other plans. And those that fail to plan, plan to fail. Just do it. A small amount of money invested now will pay off down the road.
Hey Jake,
Curious on your perspective, would you say a Roth IRA is still the way to go if your 401k isn't fully maxed out yet? Or even with a traditional brokerage account, the argument is the tax savings can be invested and with compound interest over many years will be worth way more even with needing to tax the earnings later.
now i get it better ..thanks man !!!
Jake, I wanted to check with you on something. 2021 is the first year I am trying to max out the Roth IRA limit of $6k. I'm trying to prep for tax filing in the weeks ahead. However, the CPA I am considering mentioned that "Generally, it is a bad idea to lock up money in retirement accounts until you have purchased your first home." Any idea why he would say that? Aside from this being a personal choice, is there a savings benefit I'm missing?
Microsoft matches 50% of the employee contribution with a cap of 9750 🙂
Thank you for these informative videos!
Great video… After so many people confused me!!!
$100 a month on MTG?! Did we just become best friends!? I’d tap that so fast. (mana that is)..
Thanks Jake.
He’s a Magic player too! My man
I thought the income limitation was higher than 122,000?
I forgot to check the tax button. Now what?!?!
Jake, have you ever done the back door roth ira. Someone told me there no limit amount if you go thru a traditional ira first than convert it into your roth ira. How do you do that to avoid that $6,000 limit per year is there a catch to that? Can you do a video on that or explain it on this please! Thanks.
Thank you as always
I'm not convinced to use a Roth or IRA, because I don't see myself spending more than $92,400/year. I'll only pay capital gains tax if I go over that amount. If I'm out of debt I just don't see myself spending that much a year.
Jake, great content always. I wanted to ask you would you would you recommend opening a LLC with an IRA account if one trades a lot?
Great video! Do you think it's ok to invest some in both a Roth and traditional IRA? I am self employed and would like the tax break of a traditional IRA now, but I want the benefits of the Roth ira when I retire.
Just opened one with Charles Schwab, thanks!
would you choose FXAIX over a total market fund like FZROX?
Is a David Lee Roth IRA preferable?
Very informative, on the "Why a Roth IRA" segment page, I believe it's the first 5-year Roth-IRA penalty rules for profit withdraw .. that it says you gotta wait 5 years after the first contribution to withdraw your earnings tax-free.
So I would be safe to only invest in the S&P 500 index fund? Nothing more complicated then that?
What an awesome video. Thank you for taking the time to simplify the matter an educate us. Keep them coming.
Your videos gave me the confidence to open my first Roth IRA account. Thanks, and keep up the good work!
How do I invest in the s&p500 in my Roth IRA & Reinvest dividends? This is with fidelity; maxed out my contribution. Newbie here
Thanks for all your videos; very informative!
Hey Jake and all, who did you open your Roth IRA with? I've a brokerage acct with Schwab but Vanguard seems like the best choice being so low cost. Idk if managing so many banks is good, bad, or neutral. (I'm pretty good at keeping organized.)
Also do you know if you are limited to the bank of your employer for your 401k? Or is this an acct that you can move at will? Or does it maybe depend on your employer?
10:53 – 11:13 I could not agree more. Plan for a better future… always. Traditional never made sense to me unless you get a match, ROTH all the way.
im confused. i have a tsp and im contributing to both pre and post tax….should i still open a roth ira
You are awesome!
If I make 60,000 now, but put away 20% into investments, then I wouldnt need that 12,000 a year in income to still live the same life style. I could take out 48k, have lower taxes, and still do everything the exact same way i was doing when i was earning more, but still contributing.