Roth IRA vs Traditional IRA-What's Best For You?

Are you confused about whether a Roth IRA or a Traditional IRA is the right choice for your financial future? You're not alone! In this video, I will break down everything you need to know to make an informed decision and take control of your retirement savings.

0:00 - Overview
0:25 - Regular Brokerage Account
1:27 - Traditional IRA Account
2:55 - Roth IRA Account
4:20 - Benefits and Misconceptions of Roth IRA
5:28 - Backdoor Roth IRA
6:03 - Traditional Contributions
6:43 - Final Thoughts

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🚀 Disclaimer: This podcast is for educational purposes only and does not constitute financial advice. Consult with a qualified professional before making any investment decisions.

[IfranReinfeld]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[AndrewHuicochea]

Thank you! This simplified it enough for me to understand!

[harrisonapril]

I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement

[Mr.ELconomics]

Good afternoon and happy new year coach

[JoshuaBravadoMascarenas]

If your income is over 24% tax bracket would you advise maxing out the traditional first then doing the Roth after you have maxed out and brought your taxes lower?

[theman]

So you have to pay taxes on the gains in a brokerage before you sale and realize gains? To be clear, when i fund a brokerage account, do i have to file taxes and be taxed on the funding amount or just the unrealized gains?

[Immacuate]

Roth nerds never account for investing the tax savings in a taxable brokerage.

[StarWarNerd]

I was with company that I had 401k for short times it’s at 4K just sitting in the account not accumulating nothing, now that I don’t work with company where should I transfer the fund too .

[johngill]

You can turn a $10, 000 Roth IRA into a million dollars.

And how much could you turn a traditional IRA into considering your current marginal tax rate and adding that to the $10, 000?

[clintonezekiel]

The real question is...what do we do if the government no longer respects the tax free growth/distributions of the Roth accounts in the future...it is a realistic possibility, especially as they continue to dig the country into more and more debt and continue fiat money practices/money printing. Remember it used to be a crime to hold physical gold in this country.