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15 ROTH IRA MISTAKES You Never Want to Make! Pro-Rata Rule and More!


Roth IRAs are a great way to invest with tax-free growth, but with a tax benefit this good, there are definitely some pitfalls to watch out for. In this video I break down 15 of the worst IRA mistakes I've seen as a CPA. Whether it's contributing too much to a Roth or not understanding the backdoor Roth IRA rules correctly (including the pro-rata rule), you definitely want to avoid these Roth IRA blunders to maximize your retirement investing. Other Videos Mentioned: - Traditional vs. Roth IRAs: - How to Open Up a Backdoor Roth IRA With Vanguard: - The Allec Family Vlog: Programs (Use Coupon Code YOUTUBE for 50% Off!): 🎓 Prosper: Free Downloads: 💸 75 Ways to Save an Extra $100 This Month: 🤑 15 Referral Programs That Make Me Over $20,000 a Month: Table of Contents: 0:00 Roth IRA Warnings 1:37 #1 Not Exploring Other Investment Options 5:00 #2 Contributing to a Roth IRA Without Earned Income 6:33 #3 Contributing to a Roth IRA With Too Much Income 8:38 #4 Not Taking Into Account the Pro-Rata Rule on Backdoor Roth IRA Conversions 10:17 #5 Not Completing Form 8606 on Backdoor Roth IRA Conversions 10:28 #6 Missing the Deadline to Contribute to a Roth IRA 11:30 #7 Contributing to a Roth IRA When a Traditional IRA Makes More Sense 13:16 #8 Not Investing the Money in Your Roth IRA 14:15 #9 Withdrawing Money Too Early From Your Roth IRA 15:37 #10 Not Listing a Beneficiary for Your Roth IRA 16:11 #11 Not Considering Roth Conversions 16:49 #12 Holding the Wrong Assets in Your Roth IRA 17:56 #13 Ignoring the 5-Year Rules 18:35 #14 Ignoring the Fact That Congress Could Change the Roth IRA Rules 19:16 #15 Not Opening a Roth IRA At All #rothira #ira #retirement...(read more)



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