Timothy Sumer

I started getting serious about my Roth IRA about a year ago - but that didn't stop me from making a costly mistake this year. I'm breaking down my Roth IRA strategy and the mistake that cost me thousands! 00:00 - Intro 1:20 - My Roth IRA Strategy 4:28 - My Roth IRA Holdings & Allocations 9:48 - My Roth IRA Mistake 11:07 - My Roth IRA Portfolio Reveal 🚨 Subscribe to the channel: 🚨 ••••••••• 📈 Start investing on the platforms below for FREE stocks & more: ⬇️ BEST PASSIVE INVESTING BROKERAGE ⬇️ 🥧 Get $50 on M1 Finance (with any deposit): 🐂 Get 2 FREE Stocks on WeBull (w/ $100 Deposit): 🌽 Get $40 in BTC on Celsius Network & Earn 6.2% Interest (with $400 Deposit): 💎 Get $10 in BTC on Gemini + Low Trading Fees/Free Withdrawals (just trade $100): 📹 Interested in camera stuff? Here's the equipment I use to shoot my videos: ••••••••• Since I’m only 25, I am willingly taking on a little more risk in my portfolio, because I’ve got near

A Roth IRA is a special individual retirement account (IRA) where you pay taxes on money going into your account, and then all future withdrawals are tax free. Roth IRAs are best when you think your marginal taxes will be higher in retirement than they are right now. Single filers can’t contribute to a Roth IRA if they earn more than $144,000 in 2022 ($153,000 in 2023). For married couples filing jointly, the limit is $214,000 ($228,000 in 2023). The deductible amount that you can contribute changes periodically. In 2022, the contribution limit is $6,000 a year unless you are age 50 or older—in which case, you can deposit up to $7,000. In 2023, the limit increases to $6,500 (plus the additional $1,000 for those 50 and older.) Almost all brokerage firms, both brick-and-mortar and online, offer a Roth IRA. So do most banks and investment companies. #rothira #ira #personalfinance #personalfinancetips #financebasics #InvestingBasics #investing101 #stockmarket #stocks #person