Timothy Sumer

Everything you need to know about the ROTH IRA. What you need to know about ROTH IRA. What you need to know about ROTH IRA investing. Through this video, I wanted to share very important “know how” and ROTH IRA investing tips, based on my personal experiences and ROTH IRA investing mistakes. Some of the investing principles mentioned in this video also apply to regular IRA (individual retirement account ) investments. Roth IRA Basics: 1. With a Roth IRA, you contribute POST TAX MONEY, i.e., money that’s left over after you’ve already paid taxes on it. 2. All of the profit generated in this account is tax free after the age of 59.5. That could save you a LOT of money by the time you retire, especially if you begin investing early on. 3. You can withdraw whatever money you contribute to this account, at any time, tax free, without paying any penalties. 4. However, if you want to withdraw your PROFIT from this account before the age of 59.5, that will be subject to a 10% p

Roth IRAs are a great way to invest with tax-free growth, but with a tax benefit this good, there are definitely some pitfalls to watch out for. In this video I break down 15 of the worst IRA mistakes I've seen as a CPA. Whether it's contributing too much to a Roth or not understanding the backdoor Roth IRA rules correctly (including the pro-rata rule), you definitely want to avoid these Roth IRA blunders to maximize your retirement investing. Other Videos Mentioned: - Traditional vs. Roth IRAs: - How to Open Up a Backdoor Roth IRA With Vanguard: - The Allec Family Vlog: Programs (Use Coupon Code YOUTUBE for 50% Off!): 🎓 Prosper: Free Downloads: 💸 75 Ways to Save an Extra $100 This Month: 🤑 15 Referral Programs That Make Me Over $20,000 a Month: Table of Contents: 0:00 Roth IRA Warnings 1:37 #1 Not Exploring Other Investment Options 5:00 #2 Contributing to a Roth IRA Without Earned Income 6:33 #3 Contributing to a Roth IRA With Too Much Income 8:38 #4

A Roth IRA and Traditional IRA are both good retirement accounts to consider, and offer many investment options as you plan for your future. Both Traditional and Roth IRAs can be effective retirement savings tools, but eligibility and limitations mean one or both may not be right for you. This video will cover several key differences to keep in mind when determining which account makes the most sense for your particular needs. 🔴 SUBSCRIBE for more FREE tips: ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 🤝BECOME OUR CLIENT: It only takes 2 steps ➡️ 1. Watch our free (60min) Masterclass to learn how we help clients maximize ALL of their Income sources. 2. Once you watch the video you will be prompted to apply to become our client. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 📲CONNECT WITH US ON SOCIAL MEDIA: Facebook ➡️ LinkedIn ➡️ linkedin.com/in/carson-graves-22103413/ Website ➡️ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ DISCLAIMER Insurance products and services are offered through Carson Graves, independent a