Thank you for supporting my channel! In this video, I explain why the Roth IRA is overrated in 2023. A Roth IRA is an individual retirement account. My top credit card picks: The Credit Community (Discord): My socials: Sign up for Rakuten using my link to get $30 for free: Sign up for Webull using my link to get free stocks: Sign up for CardPointers using code ‘markplymale’ to track every category bonus and recurring bank credit from over 4,000 cards! _______________________ Chapters 0:00 Intro 1:04 What is a Roth IRA? 2:15 Human side of things 4:15 Typical Financial Issues 6:56 My Thoughts 7:19 Outro My filming equipment Camera: 24-70mm lens: 16mm lens: Podcast microphones: Shotgun microphones: Lighting: Sponsorship and business inquiries: mark.plymale@gmail.com _______________________ Advertiser Disclosure: Some of the card links and other products that appear on this website are from companies which, Mark Plymale, will earn an affiliate commission or referral bonus. Mark Plymale is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Plymale is NOT a financial advisor. All of the content on this channel is strictly for entertainment purposes. _______________________ My financial friend, financial education, american debt, the dave ramsey show, budget money debt cash, personal finance, how to invest in real estate, the plain bagel, the rich dad channel, how to start in real estate, graham stephan, meet kevin, rental property, investment property, ryan pineda, elena taber, noelle randall, lili thompson, john olfert, bigger pockets, student loan debt, shorts, biggerpockets, investopads, biaheza, credit cards, student debt, how to make money, debt free, real estate, compound interest, buying house, pardon my take barstool, save, insurance, buy, snowball, pay off debt, debt free journey, financial independence, how to pay off debt, how to pay off student loans, debt snowball, dave ramsey show, pay off student loans, financial independence retire early, how to pay off student loans fast, debt payoff, dave ramsey live, net worth update 2022, dave ramsey cars, caleb kids show, dave ramsey car loan, college debt, money, debt free community, dave ramsey car payments, my net worth update, dave ramsey live stream, make money online, get rich quick, get rich, net worth, loans, fake guru, student loan, day in my life vlog, day trading, credit, loan, budgeting, stock trading, crypto, finance, budget, student loan forgiveness, ramsey, car payments, credit score, should i go to college.I hope this video helps you get started on your journey to financial freedom! shiba inu crypto, inflation, manifestation, net worth spreadsheet, car loan, shiba inu price prediction, mark plymale, is college worth it in 2023, credit card debt, financial, dave ramsey, debt, credit card, payday loans, coffeezilla, car debt, bridgette wilson, pardon my take, is college worth it, john oliver, paying off student loans, net worth update, che and cherice, student loans. _______________________ #markplymale...(read more)
LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
The Roth IRA has been touted as the gold standard of retirement savings, but is it really worth all the hype? The answer is no, and here’s why. Firstly, the Roth IRA has contribution limits. For 2021, those under the age of 50 can only contribute up to $6,000 a year, and those who are 50 and older can contribute up to $7,000. This may seem like a lot, but it pales in comparison to other retirement saving options like 401(k)s, which have contribution limits of up to $19,500. Secondly, the Roth IRA has income limits. If you make too much money, you cannot contribute to a Roth IRA. For 2021, single filers with modified adjusted gross incomes (MAGI) of more than $140,000 and married couples filing jointly with MAGIs of more than $208,000 cannot contribute to a Roth IRA. This limits the accessibility of the Roth IRA to individuals who are already in a good financial position. Thirdly, while the Roth IRA allows for tax-free withdrawals in retirement, this is only true if you have held the account for at least five years and are over the age of 59 ½. If you withdraw money before then, you will be hit with a 10% penalty in addition to the taxes owed on the withdrawn amount. Additionally, withdrawals from a Roth IRA count as income, which means they could push retirees into a higher tax bracket and incur more taxes. Finally, the Roth IRA may not be the best option for everyone. Depending on your specific financial situation, goals, and retirement timeline, other retirement savings options may be more beneficial, such as traditional IRAs or 401(k)s. In conclusion, while the Roth IRA may seem like the perfect retirement savings option, it has its drawbacks. Its contribution and income limits, strict withdrawal rules, and limited accessibility make it a less attractive option than other retirement savings accounts. It’s important to evaluate all options and consult with a financial advisor before making a decision on where to save for retirement. https://inflationprotection.org/overhyping-the-roth-ira/?feed_id=106639&_unique_id=648621e792aff #Inflation #Retirement #GoldIRA #Wealth #Investing #2023roth #bestrothira #howtoinvestinarothira #howtoopenarothira #individualretirementaccount #IRARules #isarothiraworthit #markplymale #markplymalerothira #openarothira #retirementaccounts #RothIRA #rothira2023 #rothiraaccount #rothiraexplained #rothiraexplained2023 #rothiramarkplymale #rothiraoverrated #rothirarules #rothirarules2023 #rothiraworthit #rothvstraditionalira #therothiraisoverrated #VanguardIRA #2023roth #bestrothira #howtoinvestinarothira #howtoopenarothira #individualretirementaccount #IRARules #isarothiraworthit #markplymale #markplymalerothira #openarothira #retirementaccounts #RothIRA #rothira2023 #rothiraaccount #rothiraexplained #rothiraexplained2023 #rothiramarkplymale #rothiraoverrated #rothirarules #rothirarules2023 #rothiraworthit #rothvstraditionalira #therothiraisoverrated
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