How To Earn $60,000 TAX FREE Every Year

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00:00 Topic Overview
00:29 Story
01:35 ROTH Explained
02:49 ROTH Myth
04:40 Mega Backdoor ROTH Explained
06:54 Stacking and Matching
11:48 After-Tax Employee Traditional Contribution
14:17 Deadlines and Planning
17:10 The Climax of the ROTH
19:20 Outro

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[adamtennant]

Fortunately, I had a college economics teacher that taught me a lesson at 18. That lesson was: for every huge, frivoluos purchase you make, you need to have an investment double it's worth, this doesn't necessarily mean you should always invest when you make a purchase, it simply means living within your means. Varied sources of income is wise and especially like i said, living within your means. Whenever you're about to make a huge, dumb purchase that doesn't add value think about taxes and how you get your income. I made $272k combined net last year and paid no Federal taxes.

[Theresaa]

Because ROTH IRAs are tax-free, you'll be able to keep more of the money you've worked so hard to earn.I want to invest more than $300k, but I'm not sure how to go.

[Casey-summer]

Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.

[matturner]

The utilization of after-tax money and tax-free growth makes opening a Roth IRA very advantageous. Through a careful guidance of my FA, I did not pay taxes on my withdrawals of $2.86 million when I retired.

[ixanaths]

Thank you for the info but can you do another video that articulates better and less confusing ?

[hersdera]

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[scottcoleman]

It is very clear mark that you are the SUPERGEEK!

[TheForexApostle]

This is fantastic information! Continue to share your knowledge!

[harrychufan]

Everybody talks about the mega 401k but never the cash balance plan! My cash balance needs some love

[Perkins]

@mark j kohler can you do a video on taxes when selling your business? Service based business.

[NQLioness]

You can actively trade in a Roth and grow it as much as you would or like per year!

[jaclyns]

Thank you for this video. Great information.

[aj.vassar]

This is amazing information!! Keep the knowledge coming!! When is the Summit?

[Democrat]

I’m watching for tax policy changes since they could affect company profits and how investors feel about the market, both now and in the future.

[carlaldric]

Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.

[minitruck]

I am a client with KKOS, Please answer this Question, Invest in what you know (yep) I Can invest my solo self directed 401k Roth into a start up (yep) but "Not" an S Corp (yep) but... is there any cap on my ROI if I invest in a qualified business or startup? Example If I invest 100k into a qualitied LLC or startup and if it takes off and I can double my money in 12 months to 200k...is that ok? Is their No Cap on ROI once Roth money is invested? I have not heard any videos on investing in startups or in an current operating LLC with regard to gains (ROI) Good work guys, love the vidoes!

[fh-gg]

I’ve chose early retirement at age. 62 and I’m still employed. My question is if I contribute to a Roth through my employer where will those contributions be reflected on my W-2? Will the contributions be reflected in Box 1 or Box 3 or another location on my W-2 ? My goal is to try to come under the annual earnings limit for Ssa to avoid the 50% penalty & since I’ve early retired. Would the Roth be a vehicle in order to accomplish this goal or will my contribution show in Box 3 Social Security wages?

[crizdancemedia]

When you see “you can withdraw contributions whenever you want tax-free, ” isn’t that limited to $10k or you can withdraw any amount as long as it’s your contributions?

[allib]

This video is confusing and too much back and forth. After watching your video and starting/rewatching, pausing to view charts, It still unclear. Its too confusing and does not give steps to follow

[hungvu]

Please can you give more detail how can I open a Roth IRA? Thank you