Maxed Out Your ROTH IRA | What's Next? Congrats!!! You maxed out your Roth IRA, what's next? In this video I go over 3 possible avenues to go down after you max our your Roth IRA! Maxing out your Roth IRA is a huge step since it is tax free money once you reach 59.5 (if you withdrawal before 59.5, there is a penalty). Maxing out your Roth IRA, in my opinion, is a huge thing to do! Let's take a look at the possible avenues: First off, before I mention the avenues, here is a hint: After you max out your Roth IRA, use the remainder of the months in the year to get a head start on the following years Roth IRA. For example, if you max out the Roth in August. You could save a couple hundred dollars each month for the remainder of the current year so in the following year, you will have a head start! Avenue #1: Contribute more to another retirement account If you are not wanting to touch the money until you reach 59.5, this avenue shoots to contribute more to anoth...
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 :)