#vanguard #rothira #vti #voo #vym #bnd Opening a Roth IRA in 2023 Tax free income in retirement - because you supply the Roth IRA with money that has already been taxed Limits Single or Married - $6,500 a year 50+ - $7,500 a year You can start withdrawing from the Roth IRA at 59 ½ without any penalties. Single - modified adjusted gross income of less than 138k to 153k Married - modified adjusted gross income 218k to 228k Definition MAGI - AGI (Adjusted Gross Income) can reduce the amount of your taxable income by subtracting certain deductions from your gross income. MAGI is your AGI after factoring in tax deductions and tax-exempt interest. You can't find your MAGI on your tax return, although your AGI appears on line 11 of Form 1040. Example of deductions - HSA and 401k’s. If you only make 6500 a year or 3k for an example, all you can contribute is that amount to your Roth IRA. You cannot contribute more because of your W2 equals 3k. You can be a tax free millionaire, it may take 28 years, but assume you contribute $6,500 for 28 years, the baseline you contributed equals 182k. Assume that with a 10% return on average per year, for over 28 years, your account will be over 1 millions dollars. All dividends and growth will be tax free in this account as well. Roth IRA Investments VTI - Vanguard Total Stock Market ETF Number of Shares 3,969 Market Cap 117.7 Billion Large Blend 05/24/2001 inception date Expense Ratio - 0.03% VOO - Vanguard S&P 500 ETF Number of shares 507 Market Cap 160.2 B Large Blend 09/07/2010 inception date Expense Ratio - 0.03% VYM - Vanguard High Dividend Yield ETF Number of shares 441 Market Cap 61.6 Billion Large Blend Inception date 11/10/2006 Expense Ratio - 0.06 % BND - Vanguard Total Bond Market ETF Inception date 04/03/2007 Expense Ratio 0.03% Links WeBull - Track Your Dividends - *Disclaimer I am not a financial advisor and I am not your financial advisor. Please, do your own research. These videos are for entertainment purposes only.*...(read more)
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As the year 2023 approaches, many individuals are considering their retirement savings options, and one popular choice is the Vanguard Roth IRA. The Roth IRA, named after its chief legislative sponsor, Senator William Roth, is a retirement savings account that allows individuals to contribute money on an after-tax basis. Unlike traditional IRAs or 401(k) plans, money contributed to a Roth IRA is not tax-deductible in the year it is contributed. However, once funds have been contributed, any earnings and withdrawals are tax-free under certain conditions, including being at least age 59 1/2 and having held the account for at least five years. Vanguard is one of the largest and most reputable investment management companies, with a wide variety of investment options available to investors. The company offers a Roth IRA account option, with low fees and a wide variety of investment options. One of the key benefits of a Vanguard Roth IRA is the ability to invest in a variety of mutual funds and exchange-traded funds (ETFs). Vanguard offers over 100 different index funds and ETFs, allowing investors to customize their portfolios to meet their specific investment goals. Another key advantage of a Roth IRA is the flexibility it provides in retirement. Unlike traditional IRAs, which have required minimum distributions (RMDs) starting at age 72, Roth IRAs do not have any RMDs. This means you can leave your money in the account as long as you wish and continue to earn tax-free income from your investments until you need the funds. Additionally, the Roth IRA offers flexibility in terms of contributions. Unlike traditional IRAs, which limit contributions to individuals under age 50 to $6,000 per year and individuals over age 50 to $7,000 per year, Roth IRA contributions are not limited by age. Overall, the Vanguard Roth IRA is an attractive retirement savings option for investors looking for growth and flexibility in their portfolio. With a wide selection of investment options and the potential for tax-free earnings and withdrawals, it's no wonder that many individuals are choosing to invest in a Vanguard Roth IRA for their retirement planning needs in 2023 and beyond. https://inflationprotection.org/vanguard-roth-ira-2023/?feed_id=79416&_unique_id=64168e993804f #Inflation #Retirement #GoldIRA #Wealth #Investing #Finance #money #NonTaxableIncome #RothIRA #Stocks #vanguard #VanguardIRA #Finance #money #NonTaxableIncome #RothIRA #Stocks #vanguard
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