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| Name | Fidelity Roth IRA For Beginners | Step By Step Tutorial |
| Video Uploader | Video From Danny Sully |
| Upload Date | This Video Uploaded At 09-01-2023 16:15:16 |
| Video Discription | Fidelity Roth IRA For Beginners: Roth IRA's are extremely important when it comes to planning retirement. A Roth IRA is an individual retirement account that allows you to invest after tax income for retirement that when the time comes to withdrawal, is completely TAX FREE. ⚠ Must Watch Video https://youtu.be/Cp1kJLCP9dg Sign up on Fidelity: https://fidelity.app.link/e/DMtUN9ndyxb Free Investing For Beginners Guide: https://dannysully.link/Investing101 Sign Up Bonus Offers: 💎 SoFi High Yield Savings Account ($325 Cash Bonus): https://dannysully.link/SoFi 📈 Get $60+ Free Stock on Webull: https://dannysully.link/Webull 📊 Get $100 Free Stock on M1 Finance (Min. Deposit: $10,000): https://dannysully.link/M1Finance 💰 Get $200 Bonus on Coinbase: https://dannysully.link/Coinbase Resources: 🗞️ My Newsletter: https://dannysully.link/Newsletter 🐦 Twitter - https://twitter.com/DannySully_ 📝 LinkedIn - https://www.linkedin.com/in/danny-sully 🌐 My Website - https://www.dannysully.com/ 📚 Recommended Books - https://dannysully.link/Books 📸 My Recording Equipment - https://dannysully.link/YouTubeSetup ✅ My Exclusive 1:1 Growth Coaching: https://www.dannysully.com/sullygrowthcoaching 🎥 Relevant YouTube Videos 🎥 https://youtu.be/c6PYuGZ8-dc https://youtu.be/mfku1XsOClc?si=rqnpCvCBpwt9YxS2 https://youtu.be/emdZ2aSFQow?si=pNHDUfVC_8xrHJ6s https://youtu.be/zCTHuIwKEO4?si=Gpi2jgbWMbZVsSyD https://youtu.be/jQkFOJ5jvaw?si=RFqqnb7UzMvomXvN https://www.youtube.com/playlist?list=PLL80XtVsEZjN7ichqUUvP54qpYQ4lVS46 ⏰ Timestamps ⏰ 00:00 Roth IRA Intro 02:41 How To Start 04:07 How To Invest 09:25 Summary 📝 What is a Roth IRA? A Roth IRA is an individual retirement account that by the United States law allows one to invest after tax money to withdrawal for retirement tax free. Link to open up a Roth IRA on Fidelity: https://www.fidelity.com/retirement-ira/roth-ira Pros: 1. Withdrawal Tax Free 2. Time for investments to grow 3. You can withdrawal contributions any time penalty free 4. You have control on how you want to manage the account Cons: 1. Income Limit: If you have to high of an income then you are unable to contribute to a Roth IRA. 2. Contribution Limit: How much you are able to contribute to the account every year. 3. Can't withdrawal earnings before 59.5 4. Withdrawal earnings early and 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: - https://www.fool.com/investing/2021/07/17/peter-thiels-5-billion-roth-ira-secret-make-rich/ - https://dqydj.com/historical-ira-contribution-limit/ - https://www.schwab.com/ira/roth-ira/contribution-limits#:~:text=If%20you%20file%20taxes%20as,%24228%2C000%20for%20tax%20year%202023. 🔔 Don't forget to subscribe with notifications on and hit that like button! Disclaimer: The information provided in this video does not, and is not intended to, constitute legal, tax or financial advice; instead, all information, content, and materials available on this video and on this channel are for general informational purposes only. The presenter is not an attorney, accountant or financial advisor. Viewers of this video should contact their attorney, accountant or financial advisor to obtain advice with respect to any particular legal, tax or financial matter. |
| Category | Education |
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