Roth IRA vs Traditional IRA | Which is BEST for you?

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There are two main types of IRAs, the Traditional and the Roth. The Traditional IRA allows you to contribute money that has not yet been taxed. This is considered pre-tax income. A Roth IRA is where you contribute funds you’ve already paid taxes on. This video talks about how these two differences can affect you.

⏱ Time Stamps:
00:00 Intro
00:56 Tax Differences
01:53 Early Withdrawals
03:26 Required Minimum Distributions (RMDs)
04:17 Income Limits
05:15 Tax Free Growth
05:53 Deadlines and Limits
06:17 Which is best for you?
07:11 Outro

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DISCLAIMER: None of this is meant to be construed as investment advice. We are not financial advisers. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share our own opinions with no guarantee of gains or losses.

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I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collaborative efforts in the fund my estate planner has me invested in. I do not work.

florianmadison

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.

KimberlyMargaret

One of the best explanations I’ve seen

Biz

This answers so many questions that i’ve had for awhile about this. Usually when you speak with professionals in the financial/banking world, they don’t make it easy to understand, as if they are reading from a book. Thanks for the video

CasualGamerPlays

This answered so many questions I had, thank you!

songszify

What if I'm in a low income bracket now and expect the same closer to retirement? Which account is the better option for this scenario?

sweetandsimple.

@ 2:30 There is *no 5 year wait* to withdraw Roth IRA *_contributions._*

alrocky

Good presentation. Very well explained

Cris-hkcn

Is it better to convert my 401k into a additional IRA or somehow put it into my already existing roth ira

id

so I can trade on the stock market with a pretaxed roth ira and the gains i make will never be taxed?

brownboy

I like this video, well done Wealth Workshop. J. Carlton Collins, retired CPA

carltonjoatech

At 1:19 how you being taxed before contributing if you haven't even contributed???? It does make any sense!!!!

johnboon

How can I know in the future if tax bracket will be high or low. ?

Mart

So if I open a Roth IRA but a year down the road my income increases to 146k, what then?

jmac__

I go with the simple idea that when I am retired not paying taxes makes my money go farther

davewelder

Who’s here from the video Mr. Villa is making us watch 🤣

ChorizoFungis

What if I start a Roth IRA when my salary is $100, 000 but after several years the salary rises above the $160, 000 limit? I can no longer contribute?

meanguy

I don’t get it. At 4:15 you say there isn’t a limit on how much can be contributed to a Traditional IRA but later you say the limit is $6000 for both Roth and Traditional IRA. Please explain

raulmartinez

So when u say I can pull my CONTRIBUTIONS out of a Roth IRA whenever I want that’s only taking the money I’ve put in not the newly earned interest?

mrtoopoor

Taxes always go up why wouldn’t I pay the lower taxes now instead of the higher taxes in a lower tax bracket later?

madsonic

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