Roth IRA Investing For Beginners | The Ultimate Guide

Описание: Roth IRA Investing For Beginners: Here is a COMPLETE guide on how you can become a Tax Free MILLIONAIRE using a Roth IRA. This video includes all the information you need to know about a Roth IRA and how EXACTLY you can achieve this goal.

💼 How To Build An Investment Portfolio (Free Guide) → https://dannysully.link/PortfolioBuilder

Resources:
📈 Best Brokerage Accounts → https://investlane.com/brokerage-acco...
🏦 Top High-Yield Savings Accounts → https://investlane.com/high-yield-sav...
📚 Free Learning Guides → https://dannysully.com/free-guides
🗞️ Join My Free Newsletter → https://dannysnewsletter.kit.com/profile
🌐 Explore InvestLane → https://investlane.com/

Subscribe:
📷 My YouTube Channel →    / @dannysully  
🔔 InvestLane Channel →    / @investlanemedia  

🎥 Relevant YouTube Videos 🎥
   • Fidelity Roth IRA For Beginners | Step By ...  
   • Where To Open A Roth IRA | 3 BEST Roth IRA...  
   • Top 10 Investing Mistakes You NEED TO AVOID  
   • How To Invest In ETFs For Beginners | The ...  
   • Traditional vs Roth IRA (Choose Wisely)  
   • How To Open A Roth IRA With $100 | Step By...  

⏰ Timestamps ⏰
00:00 Intro
01:11 What Is A Roth IRA?
02:44 Rules To Follow
06:32 Where To Open A Roth IRA
07:48 How To Open A Roth IRA
09:05 Building A Portfolio
11:24 Tax Free Millionaire

📝 What is a Roth IRA?
A Roth IRA is an individual retirement account that by U.S. law allows you to invest after tax money for the benefit to withdrawal at retirement (minimum 59.5) TAX FREE, assuming you meet the 5 year rule.

Fidelity Playlist:    • Fidelity Playlist  
Link to open up a Roth IRA on Fidelity: https://www.fidelity.com/retirement-i...
Link to Vanguard: https://vgi.vg/3KrlHGx
Link to Charles Schwab: https://bit.ly/3nIOFco

Pros:
1. Retire tax free
2. Time for investments to grow
3. You can withdrawal contributions any time penalty free and tax free
4. You have control on how you want to manage the account

Cons:
1. Pay taxes upfront
2. Income Limit: If you have to high of an income, you are unable to contribute to a Roth IRA (Can do backdoor Roth IRA)
3. Contribution Limit: How much you are able to contribute to the account every year (Goes up over time)
4. Can't withdrawal earnings before 59.5
5. Withdrawal earnings early, you pay taxes and 10% penalty

Why are Roth IRA's a great approach when planning retirement?
With proper planning and discipline, a Roth IRA by the time you could retire could truly save you hundreds of thousands of dollars from paying taxes but also the benefit of holding onto investments over the long term.

WHY?
If you were to invest for 20, 30, even 40 years and hit the max contribution every year when investing in strong funds, the chances of your accounts value being high is likely. Paying taxes on a portfolio that high would come with an extremely heavy cost, but paying no taxes would save you many years of working.

Don't let time keep passing, let your money work for you. If you found any value in this content please consider hitting the like button and subscribing as I continue spreading the highest quality content related to "money talk" to impact as many lives as possible.

Sources:
Peter Thiel Roth IRA: https://on.mktw.net/3U1bPqq
Withdrawal Rules: https://www.schwab.com/ira/roth-ira/w...
Contribution Limits: https://www.schwab.com/ira/roth-ira/c...
Historic Market Returns: https://www.macrotrends.net/2526/sp-5...
Roth IRA Info (IRS): https://www.irs.gov/retirement-plans/...

🔔 Don't forget to subscribe with notifications on and hit that like button!

Disclaimer: Certain links on this website lead to products or services that may earn Danny Sully an affiliate commission or referral bonus. As a member of an affiliate sales network, Danny Sully is compensated for directing traffic to partner websites, which may affect the placement or visibility of some products on this site. The information provided in this video is accurate as of its posting date, though some of the offers mentioned may no longer be active.

This content is for entertainment only and does not constitute legal, tax, or financial advice. It is for general informational purposes. The presenter is not a licensed professional. Viewers should consult their attorney, accountant, or financial advisor for advice on specific legal, tax, or financial issues.