Thanks for the video. Quick question, is there any limitation like there is for familiy in HSA? if we file jointly, could the wife and I contribute to our OWN individual roth to a max of 7k per person(14k total)?
Great question, while I am not a tax/financial advisor - it looks like you could each contribute the Max to your own Roth IRA's so either $7k or $8k each depending on your age (More Info: www.investopedia.com/retirement/making-spousal-ira-contributions/)
I know your not a financial advisor and everything will be your opinion 😁 but I want to open a Roth IRA account with fidelity and not sure if I should do a 3 fund or more and what to pick like vti voo Schwab bond etc. especially since they have there own versions to it. I am 26 and I want it to be aggressive cause why not haha can you help me with this your recommendations
VOO is a great ETF to get started with, as you get to 30 y/o you might want to add some bond allocation to your portfolio as well like BND, Fidelity also offers a robo-advisor Fidelity Go that could be useful to check out: www.fidelity.com/managed-accounts/fidelity-go/overview
I am 69 years old and receiving a pension from ssa, I used to work until the last week of March andalso have a 401k with my last employer. Can I open a Roth IRA with that money. Thanks
You could roll over your 401(k) into a Roth IRA, but as far as making contributions with your pension income that most likely would not count as earned income
Definitely an aggressive portfolio, it will likely outperform during the "good times" but could be in for a massive drop during a bear market - it would depend on whether or not you could stomach the downside risk basically
Thank you so much for this clear and detailed explanation of a ROTH IRA. This video has solidified my decision to obtain an IRA. I have a question: How and/or where do I go to open a ROTH IRA? I look forward to watching more of your videos.
Glad to hear that! You can check out Robinhood if you want to take advantage of their IRA Match (Link: ryanoscribner.com/robinhood ) but Fidelity is another great provider, I will be doing a video soon on how to get started with Fidelity for beginners
Invest with Robinhood: ryanoscribner.com/robinhood
Use my link to get a free stock worth up to $200 when you sign up!
Thank you for covering this
You are very welcome, thanks for watching!
0:14 Since there's no limit on alimony and child support, there shouldn't be any limits on Roth accounts or 401Ks either! There, I said it!
Haha, good point! Thanks for tuning in
Thanks for the video. Quick question, is there any limitation like there is for familiy in HSA? if we file jointly, could the wife and I contribute to our OWN individual roth to a max of 7k per person(14k total)?
Great question, while I am not a tax/financial advisor - it looks like you could each contribute the Max to your own Roth IRA's so either $7k or $8k each depending on your age (More Info: www.investopedia.com/retirement/making-spousal-ira-contributions/)
I know your not a financial advisor and everything will be your opinion 😁 but I want to open a Roth IRA account with fidelity and not sure if I should do a 3 fund or more and what to pick like vti voo Schwab bond etc. especially since they have there own versions to it. I am 26 and I want it to be aggressive cause why not haha can you help me with this your recommendations
VOO is a great ETF to get started with, as you get to 30 y/o you might want to add some bond allocation to your portfolio as well like BND, Fidelity also offers a robo-advisor Fidelity Go that could be useful to check out: www.fidelity.com/managed-accounts/fidelity-go/overview
I am 69 years old and receiving a pension from ssa, I used to work until the last week of March andalso have a 401k with my last employer. Can I open a Roth IRA with that money. Thanks
You could roll over your 401(k) into a Roth IRA, but as far as making contributions with your pension income that most likely would not count as earned income
Better include a bitcoin ETF in your roth IRA
Definitely a solid option! I just did a video on Bitcoin ETFs (Link: czcams.com/video/L_0mKr55So4/video.html)
@RyanScribner I enjoyed that video too! 👍
Can’t wait until they end the tax free portion of it In a few years. It’s coming.
Omg... let's hope not!
@@RyanScribnerI saw they’re trying to tax unrealized capital gains. Just gets worse and worse.
Sheesh, I heard about the proposed 44.6% Capital Gains tax too! Scary.
ROTH will be added to the “once upon a time this was tax free” list pretty shortly.
I'm 24 looking at starting a Roth. Does a QQQM/IBIT majority stake make sense?
Definitely an aggressive portfolio, it will likely outperform during the "good times" but could be in for a massive drop during a bear market - it would depend on whether or not you could stomach the downside risk basically
I'm 48 and will be a Tax Free Millionaire at retirement 59 1/2. I'm doing growth stock like QQQM, VGT AND SMH. 🎉❤
You got this!!! Thanks for sharing
They also put a limit on 401k, and a 401k is not lucrative by any means
Thank you so much for this clear and detailed explanation of a ROTH IRA. This video has solidified my decision to obtain an IRA. I have a question: How and/or where do I go to open a ROTH IRA? I look forward to watching more of your videos.
Glad to hear that! You can check out Robinhood if you want to take advantage of their IRA Match (Link: ryanoscribner.com/robinhood ) but Fidelity is another great provider, I will be doing a video soon on how to get started with Fidelity for beginners