Who else thinks the Roth IRA is one of the greatest retirement accounts in the world? ► Open a Roth IRA with Webull and get up to 12 FREE stocks (*limited time deal): a.webull.com/i/CharlieChangExclusive
@@FinaciallyFree same boat but im 25 and my work only offers 401k and I just started my journey into a Roth IRA and without any background info about the subject from anyone in my life just don’t be so hard on yourself some people will never even take the first step trust me
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name *PRISCILLA DIANE AIVAZIAN* and everything changed. I started enjoying huge returns from my investment.
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
@@kylebeach2316 not really, understanding the stock market and making good investments takes an absolutely insane investment in time and energy, if you want to consistently outperform the market by 1 or 2 percent expect to spend 40-100 hours a week on market research and going through endless amounts of corporate paperwork to find something no one else has, if you want to be a broke gambler, you can day trade, if you want to make money day trading, become an influencer where you sell courses to poor fools who actually believe they can make money day trading. There's like 30 or 40 real day traders that consistently win but they spent 10 years plus researching, learning and improving thier skills, and even those people have entire years where they are negative. Invest in the s&p 500 and be done with it if you have under 3m in the bank to invest, If you have more than 3m you probably have a business and just invest in your business as it's already gotten you this far.
@@vamplixies big companies often lose massive amounts of money investing and write it off on taxes, people that make insane returns are either insider trading, found a nice tip somewhere or got lucky, if you watch these investors that got insane returns long enough you'll realize they basically break even in the end.
Excellent presentation. Clearly outlining the process. I also really like that you informed investors to select their investments. Otherwise, money just sit there doing nothing. I’ve done that before. 😅
I just got a Roth IRA! and this is what I was getting ready to ask you do I invest with it! thank you for this info! I am going to start investing right now! and you just got another Subscriber!!!!!!
Well explained, especially the last part where you need to buy shares once you'd putted money into the account which I wasn't sure what I'd to do at first when I'd opened my ROTH IRA w/Fidelity. Now that I see M1 platform looks like it is more easy to navigate than Fidelity.
*Hey charlie, I just turned 43, and I’ve decided to invest in the financial market, I have over $200k invested, I need tips on how to grow that’s to $1.5million in two years and retire at 45*
I just wanna say thank you! You’re vids are so easy to understand. When I learned how to invest and a lot I didn’t know about finance thanks to your videos.
Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to maneuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere?
Listening to this while at work. Will definitely be doing this afterwards. Love your videos. Very informative and things I should have learned in my early 20s not late 20s. Thank You 👊🏾
Average annual income is $60k? Where do people come to with these numbers? I've heard the average is $40k to $75k and I don't believe any of those numbers are close. $40k is closest and probably higher than the true average.
This seems to me like the worst investing period. I just started investing last week when the market prices were a bit high, today I am more than 60% down! I feel very unlucky I should have waited. Hopefully, the markets will go back up.
I have just turned 19 not long ago and I’m planing for my future but for me to do that I need to understand how to make my money work for me while I work to get it
If you invest $6K/yr and can avg. 30% ROI/yr, you'll be a millionaire by 15 years! =D Great video Charlie! Maxing this out is definitely a good call. In Canada it's called a TFSA. =P
@@CharlieChangcheck out the fund QQQ, it focuses on top tech stocks, and has averaged 20%/yr over the last 10 yrs. =) ARKW has averaged 50%/yr over the last 5 yrs. Averaging 30%/yr over the long run is definitely possible! And with the power of compounding interest, anyone can build a $1M+ portfolio in their lifetime! Keep up the awesome work!
I did it right along with the video bro. Appreciate you! And I'm starting a business I also know how to keep being able to contribute if "my income" passes the threshold🌝
As someone who is a real beginner at this stuff, I find that many of these videos don't really help people like me. Creating an account of anything is not the problem, how to invest with zero knowledge is.
Invest with 3 different etf Foundation 1.voo(vanguard etf that follows the s&p500) 2.vug(vanguard growth etf ) 3.vym(vanguard high yield dividend) You'll be good with those,etf's to me are the safest easiest way to go,good luck
Well explained ! Questions: if I’m a business owner, my contribution is determined of what I make grossly or after taxes ? Also, where is it noted the amount I have contributed for the year?
New to this, when it comes to investing in stocks, should we be concerned with a recession or a major stock drop? Should you invest in companies that are currently high if there’s a chance they drop dramatically and don’t return? Is that just a risk you need to take
Question, how are dividends handled in a Roth IRA account? is the reinvestment permanently on or does the dividend become a part of your buying/purchasing power? Also will dividends/reinvested dividends count against how much you can invest into your Roth?
I have a question if let's say I put the max contribute for the year $6,500 for 2023 in Roth IRA then take that $6,500 and invest it and let's say I get a dividend from that investment making it over $6,500 for that year will I get a penalty? What I'm saying is I'm getting confused from the different between the max contribution allowed in Roth IRA and investment gains please help 🙏
Investment gains or losses are not counted as part of the yearly max contribution limits. Investment gains in a Roth IRA are only taxable if you take an early withdrawal, early withdrawals are also subject to penalties.
i spent most of my life in and out of homelessness without a penny to my name, i finally have a real job with income and come to learn... i make too much to contribute to my retirement? this is all really confusing
See here’s my question. When I see CZcamsrs add money to invest it’s always a large sum and I only want to invest a couple hundred bucks every paycheck, am I going to be able to buy any of the funds I want to invest with with just a couple hundred dollars? I don’t want to invest in individual stocks
Question …. So let’s say you’ve opened an account and have been maxing it for a couple years and have quite a bit of money. Could you lose ALL of it based on a bad judgement call and then have no money for retirement ?
Excellent video, except I disagree that our government actually wants us to retire comfortably. Can you do a video on why this wont end up like social security? Because now I just see myself doing that twice if I use one of these.
Always good watching your videos Chang, it enlightened me some more not to depends on just my salary earning. Ever considered making profits from trading and stock investments? My retirement got easy because I make thousands of dollars weekly on my investments.
I wish I saw your posts on this months back when I struggled. Got in on trading three weeks ago and regret why I didn't start up earlier. Trading trully pays when you're on the right track
Trading has become so iconic within just a short time. I have been skeptical about it because I really don't know how it works or how to go about it. Can you direct me please ? how can I message you
I fell out of job last month due to pandemic Looking to keep up so i make some money for myself and family. Now that I see this I think Investing in Trading is plan for me how much do you make earn weekly
Does the agi or magi determine if one qualifies for Ira. I’m single, 60 years old, I contribute to a 457 and 403b, my agi was 150k. Does agi 150k disqualify me? Does the agi take into consideration the contributions? Does the magi? 😊
I am 19 years old I started my Roth IRA when I was 18 and contributed 6k the first year I plan on doing the same thing this year I want to understand how to invest money from my Roth IRA because I have one with my credit union can someone help me out ?
Stocks extended their year-to-date rally following the CPI report, with the S&P 500 last up 0.8% in afternoon trading. but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.
M1 finance? Where are they base off on? Do they have a b&m shop? Haven't heard of this place and want to know a bit more about it. Is it as safe and strong as the more known investment companies eg Schwab, vanguard, Ameritrade, fidelity and such?
If you have a regular M1 account and you want to open a roth ira account with m1 can you transfer what's in your regular m1 into your m1 roth ira account??
Hey thanks for this valuable information, I wanted to ask , although I understand that best practices will always be to contribute max each year, is it mandatory to contribute a minimum each year? Or I could go a year without contributing? Besides that, if I have savings that paid taxes abroad can I max the contributions from last year before April 15 and also max contributions for current year all at once? I do have w2 since November 2022 so technically I’ve already pay taxes
Q1 No Q2 Yes Q3 You have from Jan 1 2023 to tax day (typically April 15) 2024 to contribute to your 2023 IRA all at once or in any increments. You must have earned income, not savings from abroad to qualify for IRA.
What if because you're just learning this valuable information, you don't start the ROTH IRA until age 60? Would retiring at 65 be okay for me financially
Q1 If you or your spouse earned any income this year then you may contribute to Roth IRA. Q2 No but you'd be wise to contribute maximum every year and your future self will appreciate it.
Hi I'm beginner. I want detail or simple explanation to make clear in my mind. What does you really mean when you said on the end "Just continually put money in"? you mean is continue investing buying more stock or whatever you have in your Pie?
Hi. I just opened both Traditional and Roth IRA accounts this Feb.2023. I contributed the full 2022 IRA with $6000 on the same day and planning to convert this amount to Roth IRA. My question is, could I contribute the full amount of $6500 for this year2023 right now given that i have contributed the year2022 in the same month?
Who else thinks the Roth IRA is one of the greatest retirement accounts in the world?
► Open a Roth IRA with Webull and get up to 12 FREE stocks (*limited time deal):
a.webull.com/i/CharlieChangExclusive
I need help. It’s my first time to invest and i guess i made a mistake cause i cant transfer the money. “Transfer” cant be clicked.
@@nikkiennikkien2868 Where are you transferring money from? A bank account or another brokerage that you already have money at?
Been doing traditional because that’s all work offered starting to do Roth now at 35 years old, I’m feeling late to the party. 😢
@@FinaciallyFree same boat but im 25 and my work only offers 401k and I just started my journey into a Roth IRA and without any background info about the subject from anyone in my life just don’t be so hard on yourself some people will never even take the first step trust me
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
Due to the market falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this teacher?
Credits goes to “Sonya Lee Mitchell one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
Just research the name Angela Lynn Shilling. You’d find necessary details to work with a correspondence to set up an appointment.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
Thank you for the lead. I searched her up, and I have sent her a message. I hope she gets back to me soon.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name *PRISCILLA DIANE AIVAZIAN* and everything changed. I started enjoying huge returns from my investment.
Oh, that sounds good but how do I reach out to PRISCILLA DIANE AIVAZIAN?
Look up her name on the webpage
Okay, thank you. I just found her website very impressive and dropped a message for her
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
AI in the house
If you can understand the stock market you can easily make huge money gains even if it's trending down or up
@@kylebeach2316 not really, understanding the stock market and making good investments takes an absolutely insane investment in time and energy, if you want to consistently outperform the market by 1 or 2 percent expect to spend 40-100 hours a week on market research and going through endless amounts of corporate paperwork to find something no one else has, if you want to be a broke gambler, you can day trade, if you want to make money day trading, become an influencer where you sell courses to poor fools who actually believe they can make money day trading.
There's like 30 or 40 real day traders that consistently win but they spent 10 years plus researching, learning and improving thier skills, and even those people have entire years where they are negative.
Invest in the s&p 500 and be done with it if you have under 3m in the bank to invest, If you have more than 3m you probably have a business and just invest in your business as it's already gotten you this far.
because the economy only benefits investors of big companies instead of the normal people that actually live in the usa
@@vamplixies big companies often lose massive amounts of money investing and write it off on taxes, people that make insane returns are either insider trading, found a nice tip somewhere or got lucky, if you watch these investors that got insane returns long enough you'll realize they basically break even in the end.
Excellent presentation. Clearly outlining the process.
I also really like that you informed investors to select their investments. Otherwise, money just sit there doing nothing. I’ve done that before. 😅
I wish I had this kind of information when I was young!!! I'm 50 now ☹️, But I guess it's never too late to start right?
Better start late then never G
You can’t do anything about your past. But you can with your future
I just got a Roth IRA! and this is what I was getting ready to ask you do I invest with it! thank you for this info! I am going to start investing right now! and you just got another Subscriber!!!!!!
Mutual funds .
Well explained, especially the last part where you need to buy shares once you'd putted money into the account which I wasn't sure what I'd to do at first when I'd opened my ROTH IRA w/Fidelity. Now that I see M1 platform looks like it is more easy to navigate than Fidelity.
What are your thoughts on people investing in these new coins worth 0.00000001?? Smart or nah
Nah for the most.
Yeah if it's play money and you know when to get out.
Yea smart.
Money for both
*If you change the way you look at things, the things you looks at change!!*
Great guide on roth ira's thank you! Signing up for M1 finance right now
Nice!!! M1 is awesome
*Hey charlie, I just turned 43, and I’ve decided to invest in the financial market, I have over $200k invested, I need tips on how to grow that’s to $1.5million in two years and retire at 45*
Making such gains from the market are actually possible, you just need to be dedicated and do a lot of research.
Quite impressive gains, does this wealth manager of yours work with just anybody? Mind sharing some info ??
that is crazy awesome!!!!
Not likely to happen unless you get a unicorn stock like Tesla in 2020 or a crazy Option trading win.
I just wanna say thank you! You’re vids are so easy to understand. When I learned how to invest and a lot I didn’t know about finance thanks to your videos.
Which is better to do your Roth IRA? Vanguard or M1 ? I rather have one I can focus on then two
🤣 Both are trash Imagine that money in Realts, Stocks or even FX- Trading with it. You are sure to make a very good passive income weekly.
Not a Pro. LoL. I work with "Sandra Yvonne Webster" in all honesty she is an Angel. Do your own research!
Sandra was here in Utah for a seminar. She spoke about Nft bubble Great speaker, full of humor and rhetorics too. Lol!
Fidelity is the best, without a doubt
Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to maneuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere?
Thank you so much for your time , very much appreciated it.
Keep grinding bro 🚀
Listening to this while at work. Will definitely be doing this afterwards. Love your videos. Very informative and things I should have learned in my early 20s not late 20s.
Thank You 👊🏾
Average annual income is $60k? Where do people come to with these numbers? I've heard the average is $40k to $75k and I don't believe any of those numbers are close. $40k is closest and probably higher than the true average.
Great video Charlie! I wish we had that investment strategy in Europe!
we can set up a Roth IRA account without actually being an US citizen, i think? i read about it somewhere.
@@Louis-vk1gx That would be awesome. I will research this.
I'm definitely about to do this right now! Thanks for the great information! :)
How has this advice worked out for you so far?
This seems to me like the worst investing period. I just started investing last week when the market prices were a bit high, today I am more than 60% down! I feel very unlucky I should have waited. Hopefully, the markets will go back up.
@@aguilarkristine7022 any updates?!
I have just turned 19 not long ago and I’m planing for my future but for me to do that I need to understand how to make my money work for me while I work to get it
Do you have a 401k? you should contribute to your retirement diligently, or better still look into financial planning
Do you have tips for US citizens living abroad wanting to invest in a ROTH IRA with only foreign income?
thanks Charlie! Gonna get on this ASAP
If you invest $6K/yr and can avg. 30% ROI/yr, you'll be a millionaire by 15 years! =D Great video Charlie! Maxing this out is definitely a good call. In Canada it's called a TFSA. =P
Sign me up for the 30% ROI :D
@@CharlieChangcheck out the fund QQQ, it focuses on top tech stocks, and has averaged 20%/yr over the last 10 yrs. =) ARKW has averaged 50%/yr over the last 5 yrs. Averaging 30%/yr over the long run is definitely possible! And with the power of compounding interest, anyone can build a $1M+ portfolio in their lifetime! Keep up the awesome work!
@@JoFrancisco consider being all in on TSLA in your Roth IRA, will go to the mewn
Thank you. My mom is 67. Can she open a new Roth IRA or too late.
I did it right along with the video bro. Appreciate you! And I'm starting a business I also know how to keep being able to contribute if "my income" passes the threshold🌝
Yay! Charlie uploaded a video! This is where I interrupt my day and tune in!
Haha love to hear that!
One of the best IRA intros
best video for roth accounts
Excellent overview..thank you!
Long term investing is dollar cost averaging on the way down and up. When its down go heavy. When its back up invest your normal weekly/ monthly.
I’m going to open a Roth ira, I’m 35 but it’s not too late
It’s never too late. 35 is not old
As someone who is a real beginner at this stuff, I find that many of these videos don't really help people like me. Creating an account of anything is not the problem, how to invest with zero knowledge is.
Invest with 3 different etf
Foundation
1.voo(vanguard etf that follows the s&p500)
2.vug(vanguard growth etf )
3.vym(vanguard high yield dividend)
You'll be good with those,etf's to me are the safest easiest way to go,good luck
What’s the difference between opening a Roth IRA WITH A BANK VS OTHER LIKE FIDELITY.?
I’m 35 years old and i’ve been contributing to Roth IRA’s for 10 years. Thank you Roth IRA i can retire early!!
What investment strategies would you recommend for a Roth IRA.
@@joshyglobal1599It's a retirement fund, so S&P 500 long term hold
Well explained ! Questions: if I’m a business owner, my contribution is determined of what I make grossly or after taxes ? Also, where is it noted the amount I have contributed for the year?
New to this, when it comes to investing in stocks, should we be concerned with a recession or a major stock drop? Should you invest in companies that are currently high if there’s a chance they drop dramatically and don’t return? Is that just a risk you need to take
question, what happens to the dividends? does it automatically get reinvested or does it get paid out with penalty?
great information thankyou for sharing
what stocks do you invest as of today???:)
Question, how are dividends handled in a Roth IRA account? is the reinvestment permanently on or does the dividend become a part of your buying/purchasing power? Also will dividends/reinvested dividends count against how much you can invest into your Roth?
Super helpful. Thank you 😊
So helpful! Thank you.
Thank you!!!!!
Really great video thank you for all the information.
Great video! Can you please share your thoughts on my ROTH IRA portfolio? I am 38. Thank you and KEEP UP THE GREAT JOB!
I have a question if let's say I put the max contribute for the year $6,500 for 2023 in Roth IRA then take that $6,500 and invest it and let's say I get a dividend from that investment making it over $6,500 for that year will I get a penalty? What I'm saying is I'm getting confused from the different between the max contribution allowed in Roth IRA and investment gains please help 🙏
Investment gains or losses are not counted as part of the yearly max contribution limits. Investment gains in a Roth IRA are only taxable if you take an early withdrawal, early withdrawals are also subject to penalties.
You can withdraw with no penalty if you return the amount back within 30 days
i spent most of my life in and out of homelessness without a penny to my name, i finally have a real job with income and come to learn... i make too much to contribute to my retirement? this is all really confusing
Bout to start one turn 18 tm
good shit 18 as well and just made one today have you contributed to it yet? im assuming you have since its been a year.
Thank you!
See here’s my question. When I see CZcamsrs add money to invest it’s always a large sum and I only want to invest a couple hundred bucks every paycheck, am I going to be able to buy any of the funds I want to invest with with just a couple hundred dollars? I don’t want to invest in individual stocks
wonderful explanation and willing to invest in with this M1 investment plat form.
I love this Channel bro
There is no such thing as a free cookie. ;)
Question …. So let’s say you’ve opened an account and have been maxing it for a couple years and have quite a bit of money. Could you lose ALL of it based on a bad judgement call and then have no money for retirement ?
You're question is, can you lose it all with a bad judgment call. Yes.
Is WealthFront a good place for a Roth IRA?
Excellent video, except I disagree that our government actually wants us to retire comfortably. Can you do a video on why this wont end up like social security? Because now I just see myself doing that twice if I use one of these.
What happens if if the market is low. Will the money I put also go down???
Always good watching your videos Chang, it enlightened me some more not to depends on just my salary earning. Ever considered making profits from trading and stock investments? My retirement got easy because I make thousands of dollars weekly on my investments.
I wish I saw your posts on this months back when I struggled. Got in on trading three weeks ago and regret why I didn't start up earlier. Trading trully pays when you're on the right track
Trading has become so iconic within just a short time. I have been skeptical about it because I really don't know how it works or how to go about it. Can you direct me please ? how can I message you
I fell out of job last month due to pandemic Looking to keep up so i make some money for myself and family. Now that I see this I think Investing in Trading is plan for me how much do you make earn weekly
@@fjackson8392 Last week I got $13,160. Sometimes it's more sometimes slightly lower
@@user-bk5zv3kl1r this is excellent you are definitely living the dream
Thank you for the videa
What do you do when you start one making 100 then in 2 years let’s say you start making over 140k ? You have to stop or
Would the modified AGI income be including investment capital gain, long-term and/or short-term?
Is that same if I have IRA in Merill Edge instead of Fidelity, Vangard, ....?
Thanks
Does the agi or magi determine if one qualifies for Ira. I’m single, 60 years old, I contribute to a 457 and 403b, my agi was 150k. Does agi 150k disqualify me? Does the agi take into consideration the contributions? Does the magi? 😊
So should I invest in my 403B or a Roth IRA ?
Hi thanks for the video, I see you just made a one time 1000, don’t you have to make a recurring contribution instead? And keep buying?
I have chase Roth IRA account. Is that fine ?
I put money in a Roth IRA through Webull , but don’t really understand what to do next
I am 19 years old I started my Roth IRA when I was 18 and contributed 6k the first year I plan on doing the same thing this year I want to understand how to invest money from my Roth IRA because I have one with my credit union can someone help me out ?
What did you invest your money in and what are the investment choices offered by the Credit Union IRA?
Stocks extended their year-to-date rally following the CPI report, with the S&P 500 last up 0.8% in afternoon trading. but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.
Is the costs of the stocks part of the $6000? Or can I contribute $6000 one I purchase the stocks I want in my Roth IRA?
M1 finance? Where are they base off on? Do they have a b&m shop? Haven't heard of this place and want to know a bit more about it. Is it as safe and strong as the more known investment companies eg Schwab, vanguard, Ameritrade, fidelity and such?
What the heck is this guy even saying, im more confused, I wish someone would make a video for beginners
If you have a regular M1 account and you want to open a roth ira account with m1 can you transfer what's in your regular m1 into your m1 roth ira account??
is it advisable to create a ROTH IRA account if one is on temprary visa in United States?
If i think I will be making more than 140k a year in the next few years, should I just start a traditional IRA?
I just signed up with M1 but still unsure if a Roth or Traditional IRA makes sense for me at 66 yrs old.
Hey thanks for this valuable information, I wanted to ask , although I understand that best practices will always be to contribute max each year, is it mandatory to contribute a minimum each year? Or I could go a year without contributing? Besides that, if I have savings that paid taxes abroad can I max the contributions from last year before April 15 and also max contributions for current year all at once? I do have w2 since November 2022 so technically I’ve already pay taxes
Q1 No
Q2 Yes
Q3 You have from Jan 1 2023 to tax day (typically April 15) 2024 to contribute to your 2023 IRA all at once or in any increments. You must have earned income, not savings from abroad to qualify for IRA.
Can you transfer Individual brokerage account portfolio to the ROTH IRA account? Both accounts are within the M1 Finance platform
I have this same question :)
What if because you're just learning this valuable information, you don't start the ROTH IRA until age 60? Would retiring at 65 be okay for me financially
Hi Charlie! Thank you for the detailed video. Question - can one have multiple Roth IRAs? Any penalties to this?
Yes you can have multiple IRAs - as long as you don't exceed the yearly contribution limit!
@@CharlieChang thanks for the response👍🏾
So if this year i lost my job and no money to put into roth ira it is ok?Do I have to put money in my Roth IRA every year?
Q1 If you or your spouse earned any income this year then you may contribute to Roth IRA.
Q2 No but you'd be wise to contribute maximum every year and your future self will appreciate it.
Hi I'm beginner. I want detail or simple explanation to make clear in my mind. What does you really mean when you said on the end "Just continually put money in"? you mean is continue investing buying more stock or whatever you have in your Pie?
Endeavor to contribute as much money as you income and budget allows preferably $6,000 _every_ year
Hey Charlie does m1 finance has index funds like vtsax or is it only etfs??
What about international stocks?
I am 60 y/o retired still with TSP will do rollover to ROTH IRA soon. Question ?.. Do I still need to make monthly contribution to ROTH IRA?
If retired and you and your spouse do not have earned income, you may not contribute to Roth IRA.
Can I contribute to an IRA account if I am
Already retired
Hi. I just opened both Traditional and Roth IRA accounts this Feb.2023. I contributed the full 2022 IRA with $6000 on the same day and planning to convert this amount to Roth IRA.
My question is, could I contribute the full amount of $6500 for this year2023 right now given that i have contributed the year2022 in the same month?
Yes you can invest all 6500 from the beginning of this year
Can this m1 account be automated? I mean set to auto withdraw from bank account monthly? Also automated to purchase into the pie monthly?
So is it requirement to contribute $6000 a year? Or up to 6000/yr?
You may contribute up to $7,000 in 2024.
Can you make a video on UK based Isa plz
Darn I don't know too much about accounts for the UK!
🌷🌷🌷🌷🔥🔥🔥thank you
Was thinking how would a covered call ETF like ryld do in a Roth IRA....?
but... when I turn 59.5... so exciting :(