What downsides to a Roth make it the wrong choice for you? ▶ Like this video? Subscribe! Simple Schools TV teaches practical life skills in short, free educational videos for adults. Starting with money. ---------------------------------------------------------------------------------- VIDEO TEXT: 0:00 Intro You’re finally getting paid at that hard-to-get job that didn’t pay for 7 months. Perhaps now you’re planning your escape…I mean, retirement. We covered the benefits of a Roth retirement account earlier. It sounds ideal for retirement savings, right? What about the bad? 0:13 Tip 1: Can you put back money that you take out of a Roth IRA? First, let’s talk contributions. You can take them out at any time in a Roth without penalty nor taxes as explained in prior videos. But you can’t put them back in like you can with other types of retirement accounts. Plus, you’re limited each year by the Roth's contribution limit, making it harder to make up for the with
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)