The Story of My Roth IRA

#schoolofpersonalfinance #rothira #personalfinance #savemore #financialfreedom #financialeducation I love my Roth IRA. This video is about all the reason you should be using a Roth IRA to save more money for retirement. Roth IRA's are funded using after-tax dollars meaning you do not get a tax deduction when you make the contribution. Instead, you get the benefit of completely tax-free withdrawals in retirement. There are some rules that are specific to the Roth that need to be followed for the withdrawals to be tax-free. A Roth IRA can be a great option if you have taxable earned income, you are in a low tax bracket and you are under the income limitations. You can open a Roth IRA at all the same institutions as the traditional. A big difference with a Roth is that you can withdraw your contributions at any time without taxes or penalties. This is a very nice feature. For example, if you have contributed $20,000 over the last 4 years and the account value has grown to $30,000 you would be able to withdraw your $20,000 of contributions without owing any taxes or penalties. I like the flexibility this offers because sometimes life gets in the way of our master plan. It is nice to be able to tap these funds if your circumstances change. The flip side is that it makes it easy to dip into retirement money which may not be the greatest idea. It is always good to talk to an expert that you trust to give you unbiased advice before making any big decisions. Subscribe Here: Share this video with a friend: Check out School of Personal Finance blog: ★ CONNECT WITH RICH ON SOCIAL★ ▸Twitter: ▸Instagram: ▸Facebook: ▸Linked In: Go open your Roth IRA today!! To Becoming Great with Money, Rich McCormack, CFP® School of Personal Finance...(read more)

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The Story of My Roth IRA When I was in my twenties, I had a lot of dreams and goals for my future. I wanted to buy a house, travel the world, and retire comfortably. But I wasn't sure how to make those dreams a reality. That's when I heard about a Roth IRA. A Roth IRA is a type of retirement savings account that allows you to save money for retirement on a tax-deferred basis. That means that any money you contribute to the account grows tax-free and you don't have to pay taxes on it until you withdraw it in retirement. I decided to open a Roth IRA and started contributing to it every month. I was surprised at how quickly my account grew. I was also comforted to know that I was saving for my future. As the years went by, I continued to contribute to my Roth IRA. I was able to increase my contributions as my income increased, and I also took advantage of the tax benefits of the account. Now, after many years of contributing to my Roth IRA, I am proud to say that I have achieved my goals. I have saved enough money to buy a house, travel the world, and retire comfortably. The story of my Roth IRA is one of success. It's a story of how I was able to take control of my financial future and achieve my goals. It's a story of how I was able to save for my retirement on a tax-deferred basis and reap the rewards of my hard work. If you're looking for a way to save for your future, I highly recommend opening a Roth IRA. It's an easy and effective way to save for retirement, and it can help you reach your goals. https://inflationprotection.org/the-story-of-my-roth-ira/?feed_id=72815&_unique_id=63f60a0ee081d #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #becomegreatwithmoney #CFP #financialeducation #howtocreateabudget #howtomanagemoney #howtosavemoney #investing #investmentadvice #Investments #onlinefinancialadvisor #personalfinance101 #personalfinancecourse #retire #Retirement #retirementinvesting #retirementplanning #richmccormack #RothIRA #rothiraexplained #rothirainvesting #rothiravanguard #schoolofpersonalfinance #stockmarket #Stocks #whatareindexfunds #whatisarothira #RothIRA #401k #becomegreatwithmoney #CFP #financialeducation #howtocreateabudget #howtomanagemoney #howtosavemoney #investing #investmentadvice #Investments #onlinefinancialadvisor #personalfinance101 #personalfinancecourse #retire #Retirement #retirementinvesting #retirementplanning #richmccormack #RothIRA #rothiraexplained #rothirainvesting #rothiravanguard #schoolofpersonalfinance #stockmarket #Stocks #whatareindexfunds #whatisarothira