What is the best investing account? A retirement account like an IRA or a simple taxable brokerage account? We are recommended retirement accounts SO often and for SO many people that they seem like the obvious choice for everyone. But the restrictions, rules, and limitations that come along with them actually make them a bad choice for some people. Speaking of bad choices...how bad is a taxable brokerage account really? It must be bad for taxes since its literally named a "taxable" brokerage. Lets do a little more digging and discover just how bad it is when we compare it to the competition! ⏱Handy Timeline: 0:00 Preview 0:10 Everyone recommends retirement accounts 0:33 Why we use retirement accounts 2:01 Personal confession 3:18 4 Reasons to avoid the simplest account 5:37 Using the money we invest 6:15 Using Roth IRA money 6:39 Using Traditional IRA money 7:06 Using 401k money 8:17 The problem with retirement accounts 9:00 The truth about taxable brokerag
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 :)