Thanks for this... It's of high importance to get good tutorials for concised videos like this and that's why I can always relay on my guide. Jokes😂
Lots of good information that I was looking for! I had a difficult time keeping up, though. Consider slowing down your speech. Thanks!!!
What if I have more than the IRA limit in my 401k? I have a Roth IRA account that I would anticipate transferring what is now 7,000 into. But my 401k has more than double that due to bonuses - are my options just to keep it with my current employer or cash it out? My new employer doesn't have a 401k as it is a short-term gig, but I anticipate starting a job that does have a 401k in the beginning of next year. should i just hold it in my current employer until i can move it to the next one?
This is so helpful! I'm wondering if you have a Roth IRA, does it make more sense in general to have a traditional 401(k) or a Roth 401(k)?
Thanks for watching! It’s really a personal preference in that case. Personally, I like the traditional 401k as a means to reduce my taxable income but the Roth 401k can be a great tool if you’re in a lower tax bracket now.
If in relatively lower tax bracket favor Roth 401(k) and if in relatively higher tax bracket favor traditional 401(k)
Thanks for this tip. I just googled his name and his website came up right away... It looks interesting already so far
Great video! What are some of the advantages of a 401k "in-service" rollover to a Wealthfront IRA? My traditional 401k service provider allows for this transfer but I'm curious if I should perform this change. I currently have a regular Wealthfront investing account and I thought having my retirement funds in the same place might be helpful.
Thanks for watching! It would allow our software to monitor for wash sales and likely give you more control and options over your investments. Most 401k plans are limited when it comes to investing options. With Wealthfront, we offer hundreds of ETFs and give you complete control.
On a Roth Ira do you have to pay taxes on what the earnings from the account?
Also in a SEP Ira isn’t it pretax contribution for the employer it’s a tax deduction for the employer isn’t it ?
For the Roth IRA, it depends when you withdraw. For the SEP IRA , in most cases yes.
Rollover traditional IRA is that reported as income & being taxed on it
Thanks, I just goggled him I'm really impressed with his credentials.... He appears to be well- educated and well-read...
Can I transfer traditional IRA to Roth IRA if I'm not qualify for Roth IRA?
Yes, but make to check with a tax advisor for your particular situation
Backdoor Roth IRA Explained (How It Works + Saves You Taxes)
czcams.com/video/nwPsUWHa-So/video.html
for example 2024 can I fully fund a roth ira , 7k and traditional ira, 7k for total of 14k or is it limited to a total of 7k between both?
Someone you could refer me to? @ApollineEthan
If yes, how good is he ??
Comprehensive and concised presentation