What Happens If You Max Your Roth IRA Every Year

The benefit of the Roth is the account grows tax-sheltered and then it is withdrawn tax-free. So what happens if you make it a goal to max fund your Roth IRA every year?

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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

[jamesdockery]

i started a roth ira in oct. didnt know much about it. I did alot of research, I invested inside it and in 3 months have made 1300 already. I can see how if i would of had this going for the last full year how much i would have gained. Im sold on keeping this going for as long as i can. I started late. im 64 but its never too late. i figure i will keep it going for at least 10 more years. and have close to 150k extra. who knows maybe more

[TheCemonthegreat]

Great video, if this doesn't motivate you to save & be disciplined you're crazy.

[appleztooranges]

I’m 36 and wish I knew about this years ago. Been contributing to a 457b and my pension the last 13 years

[StephenValenti-jn]

awesome video. No Req'd RMD's for Roth IRA, but Req'd RMD's for Roth 401K from what I understand

[D.A.E.]

How do you get the percent? Is it something you choose or does it fluctuate with the market?

[dannyknuth]

Maybe they should raise the amount that you can contribute instead of putting a cwp on, i dont want to be told i have restrictions on how much i can contri bute the gov will always get there money ya wonder why the middle class gets pissed off ope the damns and let people put in as much as they want gov will get texes

[roburb]

It's a must! I fully fund our Roth (backdoor) IRAs the first week of the year! I go switch it up each year, one traditional and one Roth. I get slammed on taxes so I like to take a break year in between. Now, the tax savings I get in the year we both fully fund our traditional 401(k)s, I add that to our taxable brokerage.

We started late, I was 45 and my wife was 35. However, we invest on average $100K annually and I am retired military and she's a federal employee. I have a pension now and she will have one when she retires. We're set for life without investments, but I want to build generational wealth for our son.

[Leclaudservices]

I’m 25 and 2022 is my first year maxing it out .I’m glad you made a 30 year scenario .i will do well

[acidtacoz]

starting at 19 i hope this goes well 🙏🏽

[brandy]

I'm starting at 21. Hoping to build up the port and do a CC strategy with QQQ / SPY so i don't pay taxes on options. Maxing out every year since i work at the hospital

[randylefever]

Quite possibly less than you put in there and 30 years it all depends how the stock market does and what you have in their IRAs do not automatically compound like everybody thinks I’ve had one where I’ve lost four years in a row because of the stock selections I’ve had mutual funds so I razor, not automatic compounding vehicles that is bullshit.

[TacticalBro]

Should I keep paying 250 each paycheck which comes out to 6500 per year from which is every 2 weeks or should I just pay 6500 every April are there any benefits to either

[yaeamin]

What I never understand about these videos, is that they never mention the income limit to a roth IRA. After an income of 153K and you cannot contribute to a roth IRA. Hopefully over the course of a successful career you will outearn that easily. What should happen when you reach that point? What is your investment strategy following that point? Any advice would be appreciated!

[TIB]

The ROTH IRA is an amazing retirement vehicle. I recently started trading options in it so I wouldn't have to pay taxes. I am currently on track for 20%+ returns this year, if that keeps up I won't have to ever touch the basis and just live off the options and dividends....tax free.

[hornbaker]

The annual max actually isn’t $26, 500… it’s $67, 000. $74, 500 if you’re over age 50. Per person. The “After-tax” (not Roth) 401k bucket gets you the rest of the way.

[Miami_Chris]

Just opened up an Roth IRA but what happens if I don't max out my 2023 contributions is there a fee I pay?

[yanyperez]

This is great! I’ve been investing for a long time and it’s exciting to see the growth… 👍How are beneficiaries protected in the event one requires medical/elder care down the road? These can be a significant unknown!