Roth IRAs and How They Can Help You Retire Early
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- čas přidán 25. 06. 2024
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Our Rich Journey - Roth IRAs and How They Can Help You Retire Early: If you’re pursuing FIRE, you must prioritize your investments to maximize the tax advantages for all of your accounts. This includes prioritizing your tax advantaged retirement accounts. We’ve done a video on 401(k)s and we’ve done a video on HSAs. In this video, we move onto our third tax advantaged account - the Roth IRA. There are so many incredible benefits to the Roth IRA and we want to share them with you! In this video, we discuss the tax benefits of Roth IRAs, the unique way that the Roth IRA can facilitate your financial independence journey to retiring early, and we compare the Roth IRA to other traditional retirement accounts. Thanks for watching!
▸▸▸Check out some of our other videos!
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We Retired at 39 to Portugal & Bought Our Dream Home in CASH (See How Much We Paid & Tour Our Home!):
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I’m 19 and started a Roth IRA this year with 3k
You’re setting yourself up for success! I didn’t start until age 26. I wish i was smarter like you!
Bennjamin Griffin I’m 26 now and I just maxed out my Roth! also wished I started earlier
28 y/o and near maxed out 2019 and 2018 but wish I had started sooner. Keep it up!
For every dollar you invest at age 20 (~10% return) it will multiply by 88 if you leave it invested until age 65. See Mr. Money Guy for more details on how, why, etc. It is quite inspiring. Great job and keep....feeding the PIG!!! ; )
That's awesome. You're ahead of 99.99% of people your age because of that. Keep it up!
Man, I love CZcams! I grew up in environments that were full of drugs, violence, and other bad stuff. I didn't learn about managing money or investing until I stumbled on CZcams videos like yours. These videos taught me to hope for better things, to be smarter with whatever money I have, and to make things happen. My life has improved a lot, thanks to you guys and others. Thank you so much! 👍😊
That’s awesome to hear! I’m so sorry to hear about your past. I didnt grow up in your environment but I did deal with abuse and it can really take over your life to move forward. I hope youre doing well and started your investment journey. Love from Cali
Y’all have no idea how much I love this channel. 🙌🏼🙌🏼 amazing information. Thank you!
Ditto.
@Vanessa Blanco - Wow! Thank you so much!!!
Me too !! I just ran across your page !! Thank you ♥️
Just discovered this gem!
To that I say Amen🙏🏾💕🤜🏾🤛🏾🤗
These guys are my “rich aunt and uncle”. This channel is a must for couples. Appreciate everything you guys do for us.
P.S the new home looks great on y’all. Love seeing the radiance.
Cheers! From 🇨🇦
You're the best! Thank you so much!!!
You guys should make a video for the youth coming up! “What to do when you turn 18!” Or “How to start saving in your 20s!”
I think their kids are working on that on their channel - OurRichJourneyJr
Yes please
they've made one for 20 year olds
My students need your videos.
Fidelity. “Roth IRA for kids” !!!
My parents started a Roth IRA for me 2 years ago. I'm 20 and have a worth of $25,000 in my savings.
My husband and I watch you guys all the time. We LOVE this channel. Thank you for everything that you do!
I wish I knew I would of started when I was 16 and working. They should teach this in high school. I started my Roth when I was 19 after I was told about it in the military. I’m 30 now and always encourage people to start theirs.
Keep doing what you guys... you have no idea how much you are helping ALL of us!
So happy you guys made a video on this! I remember in a previous video you guys recommended the custodial account for growing your kids money. Wouldn't a custodial IRA be better for them than a regular custodial account or did I miss something?
Best studio ever!!! That backyard is amazing!!
Thank you! We're really enjoying it!!! :)
Just in time! Been wanting to learn more about Roth IRA, thank you both! You guys are awesome!! 😍😍😍😍😍
Awesome! Thank you!
You two have changed my life forever in such a positive way. Thank you!! Love all your videos and watch them multiple times.
WOW! Thank you so much!!!
You two are my goals ❤️
I've been watching your videos and learning so much. I am thankful that you and your family are reasonable and normal folks that I can relate to and trust your advice. Thank you for all you do to help people!
Thank you so much! So glad our videos are helping! :)
Thank you for all you do for us! Appreciate your videos!
My favorite couple. Congrats!
Grateful for both of you! Inspirational, realistic, and educational channel.
You two are absolutely phenomenal! Thank you for blessing us! Wow!
Thank you so very much for sharing your information and experiences. Blessings to your family.
Learning, Sharing, And Applying your great investment knowledge!
Gosh you guys are SOOOOOOOO HELPFUL! Thank you!
Learned some new stuff. Thanks for sharing!
Yall are amazing and thank you it means alot to me and my future
You both are great. Love your passion. Thank you for sharing your wisdom
Love you guys. Your videos are practical, real and genuine. All the best and thank you for all the knowledge providing through your videos!!
Thank you for this video, I am a federal and was only putting a small amount in the ROTH option. I ran and changed my percentages.
That is fantastic!!! :)
Wow....well done, with great content explained clearly. You guys ROCK!
Thanks for the great video and beautiful background!
Great content! Thank you 😀 I was look for this information exactly
Love your page!! Your information is INVALUABLE!!
This is such valuable content. Thank you both!
Thank you!!! :)
Just for the record...Our Rich Journey..I LOVE U GUYS! Thanks so much 🙏 💓
I love y’all and this channel!!😭🙌🏽
When I found out you guys are from Oakland I was so juiced. Thanks so much for all the help!! Videos are so informative!
Yes - Oakland! :) Small world, right?! :)
Lots of respect for this channel I went back to your videos in March and April and it was like you guys had a crystal ball $$$
Thank you for all the great information.
You guys are the best. Thanks for the information.
Thank you for this video. My husband and I are in our forties, never learned about investing. We were told to put it in the bank. We've lived most of our twenties and thirties pay check to pay check. When we did receive a windfall we should have invested the money. Live and learn. Starting a Roth this weekend. Will max both. I've been researching. I thought I had to have income to get my own Roth IRA; now I know I can get a spousal account through my husband because we file jointly. Mind blown.
You have a new subscriber. I love that your videos are straight to the point and very clear cut
Love this info, thank you!
Thank you David!
You guys never disappoint. Great content as always.
Thank you, I love this video. Can you explain Modified Adjusted Gross Income?
You two seem happy. Glad for you both!
Thank you I’m about to open a Roth watch this video already but wanted to backtrack on a couple of them just to feel more knowledgeable and ask the right questions definitely use those words if I only knew I would have more saving that’s for sure! This late starter and about to retire digging in and working on it thank you for your content.
Ty for the great info !
Excellent video. Thank you !
Thanks for the information!
I have learned so much through you guys. Max contribution to TSP (DONE!), Opened Traditional then xfer to Roth (DONE!), GEHA come November. I appreciate your work so much and am so grateful how you have helped me prepare for FIRE. You've got me hooked :)
This channel is a godsend for me. I have totally shifted my mindset. I am grateful for the information.
I’ve wondered what the difference between an IRA & Roth IRA was. Thank you both for sharing so much great knowledge & taking the time to do so. Your channel has made a huge difference in my life.
This was very helpful. Thanks!
Glad it was helpful!
You are guys soooo awesome!! Thank you, thank you for detailed explanation on each and every topic on your channel. Every content well taught and meticulously explained in details. I personally watched probably 20 videos in last 3days.
I am so glad that I found you. Bless you and your Family 💖🙏🏻🙌
That is so sweet of you to say! Thank you so much Derma! ❤️
I am looking forward to the video on backdoor Roth IRA for those making high income!! Thanks!
Great! Thanks Rally!!!
Great information 💯 I like how you brought up the Contribution!
Great video! Thanks
Great video as always!
I am just beyond grateful for your videos. I want to tell you that I appreciate the information as I am creating generational wealth for the first time in my family. Thank you so very much!
Wow! Congrats on taking action and building generational wealth for your family!!! That is FANTASTIC!!!
As always I love the information you give. I have an IRA and a Roth IRA. I’m grateful to learn from you that the IRA can be rolled over to a Roth IRA. Thank you😊
God Bless You Both.
Thank you for sharing your wisdom 🙏🏼🙏🏼🙏🏼🙏🏼
Great content . Perfect timing in today’s market .
Thank you!
Great info about custodial and spouse accounts!
Beautiful background and scenery...of course Roth IRAs are beautiful too. :-) I opened one for my daughter when she had her first summer job.
Hey my hometown, Oakland fam, I've been building my Roth Brokerage account, buying stocks so when I retire, all my investments will be tax free, love it and luv u guys, stay blessed.
Omg what a wealth of information! 🙏🏽
Thank you
Look forward to that newly, updated, more detail, step by step, Roth IRA backdoor conversion!!
love this!!!!
Excellent advice....
Hey y’all, I’m 19 and I’ve been working on my ROTH IRA for the past 2 years. It’s been great. Keep up the good work ✊🏾
Do you pay any annal or maintenance fees on your ROTH.
Great background! Thanks for sharing this information.
Thank you Paula!
@@OurRichJourney Love this gorgeous couple. Recently purchased FI information. Grabbing your investment course soon. I appreciate your money wisdom. Blessings!
This information is priceless thanks so much!
Retirement looks good on you two!! Christina you are glowing!!
Now serious question: what if you are in a high tax bracket and plan to be in a much lower tax bracket in retirement? Would contributing to the ROTH still make sense? We also plan to retire early in Europe but as citizens. We definitely plan to use the ROTH conversion ladder!
This was one of my burning questions
Perfect! Thank you!!!
Thanks you two
Thank you!!!
Love this!!
hi guys, just want to take a minute to thank you for your information, happy holidays
I appreciate this information, thanks!
THANK YOU!!!
Thank YOU!!!! :)
This is was super helpful! Honestly the Roth IRA is the only tax advantaged account that I find somewhat confusing, so this cleared up a lot of my questions! Would love to see backdoor Roth IRA video too!
I didn't learn anything new from this video and I couldn't be happier!
I couldn't say this 2 years ago.
Awesome material!
Thank you!!!
love you guys. you inspire me
Wow! Thank you so much!
I love your channel. Thank you for the Roth IRA session.
Your backyard is amazing! Pursuing FIRE myself. Buying dividend stocks, have author royalties, and I’m buying a rental property. Hope to get there by 40. Really liking your channel.
Good luck! Sounds like you have 3 great income streams to reach your goal.
Yes! Multiple income streams - that's fantastic!
Your doing great ,retire early and enjoy life,good luck
Great video and channel, was curious how the “Secure Act” impacts Roth IRA, FIRE and generational wealth?
Love this couple. I love the way they smile and look at one another. Genuine love. I have learned more about investing from this lovely couple in the last 12 months than I did in 4 years of college. Where is the list of suggested books to read. Thanks much!
Wow! Thank you so much for the kind words Donna! Our list of books is in the description below each of our videos! :)
You guys are awesome! Can you please do a video on life insurance? Which companies do you recommend?
Love this
Couldn’t focus on the content. I was too busy looking at the beautiful backyard. Nice change up. Of course it was a great video. Roth’s are a powerhouse. Great stuff you two
My dream is to save my money, invest, and meet you both on the journey. You both are an inspiration to me!
Very informativ Video👌Thanks for sharing👍
Thank you Serene!
1) Can you use your HSA for your health plans living abroad?
2) Do you pay US tax, Portugal Tax or Both when you withdraw your money?
Yall are so sweet and nice I just had to watch your entire video! No wonder you are so successful. Mark from Arkansas
Well Mark - YOUR comment is so incredibly sweet and nice! Thank you so much! So happy to hear you're liked our video!!! :)
Hi guys! Great video as usual 😊. Today we got rid of one of our cars giving us another £500 a month towards our FIRE.
Thank you for your continued inspiration
Wow! Incredible steps towards FIRE! Great job!!!
I don't even know how I came across this video but I just subscribed off of the first video. This content is like a hidden gem. I've been working for government for 20years now and cant retire cause I'm not even 40 yet. Time to make some changes starting with this investing course.
Hi guys! Love the channel and information. Honestly I’m new to all this and I’m like whoa! Im single and self employed looking to see what my options and directions are. The more I research the more overwhelming I become. I’m glad I found your channel though. Question should a self employed individual open a Roth IRA or solo401k or other?
Love it! How do you invest in Roth IRA? Looking forward to a video on that.
Great info. Thank you
Thank you! Glad you liked it!