What do you do after you max out your IRA? Three options.

What do you do after you max out your IRA? Three options.

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Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.

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0:00 - Start Here

[jaiho]

You should maxed out the 401K match first, since it's free money. Then maxed out the IRA. If you still have money then try to maxed out the 401K.

[briandadude]

You only mentioned 401k up to the match. You should continue funding up to the IRS limit before contributing to a taxable account.

[TheMrbrayn]

Could you talk more about how much value we can get from an HSA? It seems like another thing to keep track of and I don’t know if I should be bothered.

[MKK-wgfz]

I started investing in VOO in a taxable account 2 years ago & I was shocked the first year how insignificant the tax liability is. You are taxed on dividends and interest but all the growth is tax deferred & you’re only taxed when you sell. My account also has a running forecast of how much “income” is projected for that year based on my investments.

[DavisBrown]

*GREAT CONTENT! VERY INTERESTING. I APPRECIATE THE SENSITIVITY WITH WHICH YOU DISCUSS. BUT I REALLY DO HAVE A QUESTION. FOR SOMEONE WITH LESS THAN $3, 000 TO TRADE OR ABOVE. HOW WOULD YOU RECOMMEND WE ENTER INTO TRADING OR INVESTING AS A NEWBIE TO EARN DAILY OR WEEKLY? AM REALLY ON MUCH DEBT AND I WOULD GREATLY APPRECIATE ANY SUGGESTIONS*

[Lefty]

Shouldn’t the 401k be maxed out as well before funding a taxable brokerage so you lower your taxable income?

[artcraftmathcareenjoylearn]

Can you please update us on the world economy?

[eagleschic]

My job has a FSA that I take advantage of. Can I also open an HSA with Fidelity? Thank you for helping us.

[sechristen]

What is the best way to start saving for a house?

[evdorn]

HSA also allows for non medical withdrawals in retirement

[awesomelf]

I've had a Roth IRA for about 5 years now. It's my own personal I didn't start it with an employer. About two years ago started doing stock with Merrill Lynch. And now I'm gonna start a new job where they offer an HSA. The job has a 401K but at this point I haven't started and I don't think there's a match. But I'm going to max out the Roth and HSA and then throw in to the Merrill Lynch stock accounts. Plus put away for savings. It'll be so nice!!! I can't wait!!

[nelsblair]

Did you mean like as direct-deposit or is hsa somehow tax-deferred if funded by a checking account?

[dimitrikatsaros]

You forgot the highest in paybacks... pay off high-interest debt! (e.g., Credit Cards)

[b.elizabethzermeno]

What would you think if you put it into a IRA a

[TheBajamin]

Always max employer match first, then HSA with investment option, then Roth or regular investments.

[darksideofthemoon]

Should I max out a Roth 401K or pre tax 401K? Is target retirement index fund better than a regular index fund that follows the market?

[owenwolrey]

I’m 19 and I have looked at getting a HSA but I don’t pay for my own health insurance because my parents do. Can I still open an account and start investing into it and then when I turn 26 find a health insurance that allows HSA or do I have to wait till I have my own insurance to start one. (I don’t know if my parents insurance allow for a HSA)

[randomguy]

Is HSA also provided by the employer or can I get my own?

[TheAndale]

This is the exact video I needed an answer on!

[Francisco-dxhj]

I would not suggest 401k the match money can be taken by the company at any time for any reason. I lost it all plus some of what I invested when covid shut down happen even though I was still working.