NEW 2024 Roth IRA Income Rules & Limits You Need to Know

Roth IRAs are amazing for investing for retirement, but many people make mistakes with these accounts. In this video I cover the most common Roth IRA mistakes I've seen.

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[shelby_shaw]

I just switched up my Roth IRA to 50% SCHD, 25% SCHX, and 20% SCHG. 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 in 5 years.

[appleztooranges]

I started a brokerage at first, than switched over to Roth IRA. I like that there is no penalty, if you had to withdraw any contributions to it. At first I thought $7k wasn’t enough per year, but $583 per month seems like a lot! Thanks

[hillarybriggs]

I've been mulling over my retirement strategy lately, and the choice between a 401(k) and an IRA is a bit overwhelming. On one hand, the 401(k) seems attractive with its tax-deferred growth and the potential for employer contributions.

[AK-hihm]

do capital gains count towards your roth income limits? lets say you make 50k a year in earned income but you sell an investment for 200k profit. does that mean you can't contribute that year?

[DalariusPVP]

When would it usually be best to roll over a traditional IRA into a Roth IRA?

[CarnellMaynard]

Any info on the back door Roth IRA process? Thanks!!

[DannyDingo]

Thanks for the video. I do have a question. Does the money my employer put in count towards my Roth limit? If so I figured I would be 374 dollar over on the year on my Fidelity account.

[ShadowwasKage]

Really nice video as always. Was wondering if I could help you enhance Editing in your videos which will help your video to reach to a wider audience.

[Aseesler]

This year, I'm contributing to my company's Roth 401k to max out there. Can I still put another $7k into my personal Roth IRA?

[christinamurra]

Thanks for this info! So what happens when someone has been contributing to the Roth IRA for ten years and then suddenly they make too much money to contribute? what happens to that money, are they then able to do the back door roth ira?

[robertofernandezandersson]

I haven't been able to find what the reduction schedule is between 146k - 161k. Any suggestions? Thank you in advance.

[sandrafromscotland]

Have fun creating your new charts Mary 😂

[kim-one]

The Government shouldn't limit how much cash after taxes you should be able to put away into a Roth IRS.

[erinwoods]

Question - I have 2k cash contribution for 2023 sitting in my Roth IRA do I need to invest it before the April 15th deadline or can I invest it at any time?

[Terrakis]

can I contribute after-tax pension money to my roth?

[Ryan-iqzd]

Is it still worth opening a Roth IRA if you're 43 years old? I'm currently debating whether to open an account with Fidelity, Wealthfront (with which I already have an individual and savings account), or Sofi. Any advice would be appreciated. Awesome videos.

[CSM-]

Does a College Student's Work Study Job qualify as Earned Income for qualifying ROTH Payments?

[alanwilson]

MFJ here with most income from dual SS coming in. Can I (we) still contribute $8K a year into a ROTH via my brokerage account?!?!? I am also getting pension income. She still works via (2) 1099 schemes. We are within the income limits.

[ky]

Who watches how much you contribute if you at or over the Income limit? Can you still contribute if you didn't know?

[JOESUBA]

Well how will they find out? If you don’t have a job but are putting money in a Roth IRA?