Youtor
What is an IRA For Beginners
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=DAgZJe7QvZg
What is an IRA and why does it seem so appealing? And what does it have to do with La Croix and bottled tea?! All of this will be explained briefly in this short video. • Timestamps: • 0:00 Intro • 0:28 Popularity • 1:22 Tax break • 1:45 How to Invest with an IRA • 2:27 The perfect right answer • 4:36 Investing vs Normal Bank Account • ===== • 📗My Investing Masterclass: https://www.udemy.com/course/investin... • 🗞️My Free Newsletter • https://brendanevan.substack.com/ • ===== • The Investing Apps I Recommend: • 🐿Start investing with Acorns today! Best app for beginners! Get $5 when you use my invite link: https://acorns.sjv.io/c/2906384/34575... • 👨💻Data made easy with Fennel, the superpowered investing app: Free trial without a credit card AND get 1-12 months free!: http://fennel.sjv.io/c/2906384/195947... • ===== • This video is meant to be an extremely brief and general overview of investing and IRA's in general. There are many more specifics to know and understand, especially if you plan to retire early. That's a deeper and longer video coming soon. If you have any specific questions that you'd like me to cover in those future videos please leave me a comment and I'll do my best to get it answered! • An IRA is a type of account. Not an investment itself. You open this kind of account with an investment broker to save for retirement. As long as you are ok with not touching the money for a long time (until you reach retirement age ) then you stand to keep a lot more of your money! The federal government wants you to take care of yourself in retirement so your reward for choosing a tax-advantaged account like an IRA is a tax break that basically means you get to keep more of your own money! • We have IRA's with both Vanguard and M1 Finance. Both are good options, but so are many other brokers online. Pick whatever flavor you want as long as the fees are extremely low or $0 and get this wealth-building ball rolling! Here are links to those 2 companies in case you're interested: • Vanguard: https://investor.vanguard.com/home • M1 Finance: https://m1.finance/td-bpuTpiT9T • (Affiliate link for M1) • There is no perfect one-size-fits-all answer when it comes to investing and something as specific as choosing a type of IRA. Whether a Roth IRA or a Traditional IRA is right for you is totally dependent on your future and your goals. In any case, we are always better off to show up, start investing, and not sweat the details too much. (In case you're wondering, we currently split investing between traditional and Roth to kind of hedge our bets and cover any future scenario. For the first time, both my wife and I maxed out our IRA contributions for the year. For 2020 that's $6,000 per year, per person.) • ============================================ • Consider Subscribing: • / @brendanevan • • Disclaimer: Any financial or investing-related topics discussed on this channel are not from a professional investment advisor and are not financial advice for you. This is for entertainment purposes only. • • Contact me here for business purposes: [email protected] • 🚘 My new car news reviews YouTube channel!: / @brendandrives
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