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.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
I've stuck with ‘’Julianne Iwersen Niemann” for about 9 years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Choosing a Roth IRA is advantageous as it uses after-tax funds and allows tax-free growth. When I retired, I had $1M million saved, and I won't be taxed on my withdrawals.
You're right, I used a financial advisor. Approaching retirement, I've benefited greatly from their supervision. Starting late, I knew index fund compound interest wouldn't be enough. It's funny how I've outperformed peers with more years of investing experience.
Accurate asset allocation is crucial right now, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. financial advisory is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1m ROI
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $1.2m in gains… might not be a lot but i'm financially secure.
My CFA 'Grace Adams Cook' , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Great video, I have worked all my life without thinking about my retirement. Now my kids are growing fast, the way I am spending my savings, it has come to my attention that at my old age, I will have no jobs, no money left and no retirement funds to fall back to. So I am asking what do I need to do and how do I begin investing in my retirement. I just need professional advice. Thanks.
@FloraGEvans I am kind of skeptical about all investments, but I have no other option than to begin my retirement plans. Please what more can you tell me about Deborah Lynn Dilling. I want to be in safe hands.
Wow. As a 20 year old you who is just starting to learn about investing and who typically needs things repeated about 3-4 times so It can be understood, I understood EVERYTHING you said. I am so glad I found your channel. thank you x1000!
While your 401(k) and IRA account will likely continue to grow after you stop contributing to it, that growth will be limited by the market, your plan’s balance and other factors, so i can perceive the preference for Annuities, I still want to know how best to compound at least $2m in retirement savings without holding cash.
For many years, bonds or other fixed-income assets could produce the yield needed to provide solid income for retirement needs.The importance of having financial safety could be why boomers are turning towards advisors in retirement planning
This convo makes me realize how important it is to monitor the financial health of retirement plans and understand how they're invested. It's not something we should take lightly. Please who is the advisor that guides you?
Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million. So it really does. It's also a very quick way for people who are close to retirement but with little money accrued. I wish more people knew about things like this.
My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. Haha.
I don't know, but I think there are lots of things that the public should be educated about. When I learned I could make way more investing in the market than the 401(k), I was a little pissed, because why wasn't I aware of that?
Oh, not at all. Haha. I'm a complete noob in investing and all those stuff. I actually worked with one Sharon Louise Count whom I found her website online. She's a really great investment advice.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
Yes, you are right. it's been a brisk tailwind for lnvestors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financiaI advisor.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
*Camille Alicia Garcia* is my portfolio-coach, I found her on Bloomberg where she was featured, I googled her name on the internet. Fortunately I came across her website and reached out. You can go verify yourself
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
For those who doesn't know these terms will understand it really fast by this video. Just like today, learned some new stuff on both subjects that I didn't know from the past. Thank you for the well explained video.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
I agree. Based on personal experience working with a financial advisor, I currently have $2 million in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
It’s crazy that I found you. Honestly it was by accident. I was walking around my room with my phone in hand and open to UA-cam. I had just been on Trulia looking for homes in Ohio. Thank God i found you. I understand so much now because of u. I’m binge watching all ur videos because i want to learn more. I live in Cali and my husband and i are thinking of moving to Ohio next year. But we need to pay off our debt first. So thank you 🙏🏼 God bless u
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
This is absolutely fantastic. Thank you for all the transparency! You make things easy to understand in such a confusing topic that is necessary towards our future financial stability.
You are helping a generation get ahead on their finances, thanks for the content and great advice. I'm 23 and thanks to you among other youtubers like yourself i'm maxing out my 401k and on my way to maxing my Roth. Keep chucking, you're making a difference.
Alex, did you make it to the end of the video? Marco, like others, would suggest the company match, followed by maxing out the ROTH, then I'd contribute enough to meet a 15 - 20% of your income. That is if your debt is paid off, potentially saving for a house, and have an emergency fund. Or are you planning on using the Roth as somewhat of an emergency fund?
Procrastinating and not starting one as soon as I was eligible was not the best move. It's really not that hard to open an account and manage yourself. And you can also have your brokerage manage it for you. If you're reading this, start now.
@@kirastokefield2547 My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
@@hannahcampbell6847 As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@@kathleenruiz4204 I agree with you. I ventured into stock with 109k and now I'm about 30k short of half a million dollars. Credits to Suzanne Stephens Ellis. She's verifiable
@@stellarivera9787 Interesting, I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this.
Wow, I was watching this video on 1.5 speed. I was amazed at how quickly he was able to spit out these concepts. It wasn't until the end that I wanted to slow him down and realized LOL. Great video.
Hi Marko, don't usualy make comments to this stuff but this was an excellent explanation. I learned more in this 20 minutes than i have learned in years regarding these subjects
You’re right Bernardo Gutierrez.. Years ago, my account manager Dan Raziel bought some Amazon shares and put it into my Roth, by such smart moves I’ll definitely be retiring rich in few years. My best piece of investing advice is that you talk with an investing professional. Get someone on your team who will help you stay focused and keep chasing your dreams!
@@jackwyatt9649 I’ve read about Dan Raziel on various investment forums I’m on. Im not entirely a fan of getting an expert but it’s quite impressive how much reviews he’s got out there. How reliable is he?
@@user-jk1id8tc3k Yes, I totally agree. I was planning to contribute $50 a month since college is pricey and I need the rest of the money. I haven't started my career job yet so a Roth IRA is perfect. Thanks for your comment
Don't forget the 7 Baby Steps. He has a great video based on Dave Ramsey's teachings. Both of these guys have great knowledge and insight into money management.
Thank you for explaining them in the beginning. I was looking it up at the same time so it was helpful to know one is done on your own and the other is employer sponsored
You are a financial guru. Thank you so much for breaking this down. I just opened a new credit union and you explained the differences better than my financial advisor. Thank you so much ☺
Lots of great information here! One misnomer that I wish you spelled out better for everyone is that you're not paying taxes on the full balance of your traditional IRA or 401k but just what you withdraw each year (considered as income); and that hopefully the amount of money you have to withdraw during retirement is far less than what you currently make (assuming you were smart about money and paid off your mortgage by then, among other things) so the tax bracket issue is less of a problem.
Yep, spot on. He makes it seem like people who make 1 million their final year of employment will have all of their 401k taxed at 37% which is wayyyyy off.
Great information 👍. I wish I had someone like you to listen to 30 years ago. Thanks for sharing your knowledge. Yeah this was one of your longer videos but you cracked yourself up a few times, so the humor was there! 😂 thanks again!
I teach this and set up Retirement plans... 401(k), Roth IRA, Traditional IRA, SEP’s etc.. you’d be surprised at how many people no matter what age, blow me off or think I’ll just do it later or next year etc... we all know what happens when we as people say I’ll just do it later... then years later complain they are broke.
Great video as always! But I gotta say I miss the Time Stamps! Those are so valuable. Cuz this is the kind of info a newbie like me has to go back and re-listen to several times to really drill it in . Repetition is key!
Thanks a lot. Just starting to invest and wasn’t sure how to go about it. My employer doesn’t match, so maxing a Roth IRA and then contributing to my 401k
@@WhiteBoardFinance I'm 43 and only have ever invested in a 401k. I have about $100, 000 in my 401k. My employer matches a whopping 1.5%. I have about 40k sitting in a find from my previous employer where I resigned from that company. Should I leave my money there ( it's been there since I left in 2010), should I took it over to my current 401k, or can (and should) I roll that into a Roth IRA? Thanks
@@alrocky thank you. If someone like me is concerned about the stock market crashing this year, you would you recommend to rebalance a portfolio to minimize risk? I have 50% in growth funds, and 50% in aggressive growth funds. Any guidance is appreciated 😊
@@alrocky thank you. I'm locked out of my 401k right now as it's in a transition to another company. Once the blackout period is over, I will reply with the funds. I agree about timing the market, I'm just looking to go more conservative now for a little while anticipating another mass collapse like in 2008. I have another 20-25 years to go until retirement, but I don't want to lose a lot knowing the stock market is artificially high. I'd go back to mostly aggressive stocks when it mean reverts. That's my general plan. I didn't really rebalance that much, maybe twice since 2010. I just want to rebalance to minimize any losses. Not sure if you are a financial planner, but my financial planner goes by average yield rate, and I have learned what CAGR compound annual growth rate is. I have learned CAGR is more accurate. So, with that said, I was thinking of 25% in growth and aggressive growth funds, 50% mix of corporate and government bonds, and 25% treasuries. Just to minimize losses for now. Again, I appreciate your feedback, and welcome any thoughts. I like to give back, so if you have any physical ailments, I'm a doctor of physical therapy and would be happy to help you in return. Thanks again.
Video covered good ground. I feel like a better comparison would have been: Roth IRA vs Trad IRA or Roth 401k vs Trad 401k. Its easier to understand their both opposites sides of the same coin regardless if its a 401k or an IRA. The contribution limits, taxes and penalties for distributions, and the source of the funding is generally going to be the same if its 401k or IRA. But the pre-tax/after-tax is the wrinkle that really distinguishes them. The Employer Match/"free money" is a nice little thing for your Traditional 401k though that neither Trad IRA, Roth IRA, nor Roth 401k can do.
I greatly appreciate the education, knowledge and financial wisdom that you took time out of your day to share with us! I really wish that i was taught this in school! Thanks again for the knowledge and education!
Omg thank u. I usually try to watch finnance videos and they go everywhere and i get frustrated and just end the video. This video is so amazing and really dummied down for people like me. U explained everything so clearly u could literally be a finance teacher in college. Thank you so much def gonna check out more videos on ur page
The company I work for matches 100% of 6% of my salary (they also give me an additional 5% for free) ..... So I put 6% in my 401k, and a put $6,000 in my Roth
RealLife Money - Weekly Financial Videos, oil and gas..... And the 5% that you get for free changes to 8% for free if you are over the age of 50.... Hopefully I'm still working here when I'm 50 haha
If your company offers a Roth 401k you would be better off putting all your money into the 401k. Your money will grow quicker due to it compounding in one account.
@@JesseStJohn-sv9dqwouldn't it be better to get the Roth 401k option if available? That way your contributions go into the ROTH and the employers goes into the traditional, then every year do a backdoor Roth to convert the employers match into the Roth 401k and just pay the taxes on any gains (which is not too much if you do it annually). That way upon retirement, your contributions and your employer contributions are ALL in the Roth. So tax free!!
I think it would be beneficial to Military and Federal employees if you were to make a TSP contribution video. Your videos are straight forward and simple and easy for me to share with my coworkers.
There is a lot of information missing from this video. I'll give you one example he never mentions the standard deduction in retirement. If you use a Roth and you have no other income in retirement what will you fill the standard deduction with? Cookie cutter advice with taxes and investing isn't usually very good for most people. Break out of tax calculator and figure this out and you will get the best answer for your situation
I been watching your advised for awhile, they are eyes opening for me. I am working on my passive investment to secure my future financial retirement. Thank!
Ho Le Hello. My name is Lizandro and I’m a financial advisor. I can help locking in your retirement plan and set up more investments for your family’s future.
I'm prioritizing my ROTH over 401k during this period of low taxes. I'm nearly positive tax will be a heck of a lot more when I'm ready to retire in 30 years. Of course I take the full match from my employer in the 401k, but I make sure to max out my ROTH each year. In the end, I think finding a balance between both makes sense for anyone to try and hedge against tax rate changes.
Yup... no match. I had a crappy 403b for two years. I recently figured out how to change to a Vanguard 403b and investing in the total market fund. I feel better about it now.
I personally think a ROTH is a good choice especially if you plan on increasing your income year over year with jobs, investing, and other income. I did a video like this and the future tax rate could definitely go higher! Could always have a regular 401k with a ROTH IRA on the side too
good video thanks, I have been putting over 10% into my 401 since my mid 20's. Going on 57 now. Start early folks! I still may be living in a van down by the beach.
Love the videos. I was wondering if you could do a video breaking down a SEP IRA vs a wroth ira. I am self employed in my 20s and trying to figure all this out.
Thank you for all the information and transparency...it is nice you're not always so vague...yes I know I need to get financial advisor but you help us to know some of the questions to ask... Happy fourth of July!!!
Desmond Hughes Hello, I’m sure you have found a financial advisor by now with great financial investments like life protection & IRA. But if youre open to saving money and getting better benefits, im sure i can be a greater assistance.
They definitely both have their pros and cons in all honesty why not invest in both if given the circumstances is my question 🤨 Definitely a great way to add more income for retirement great video bro. 👌
Very true, both are great options! BEWARE of expenses and hidden fees tho, they eat into our money without us even realizing. There are also ROTH 401k if you like that idea too
Investing in both is kinda annoying sometimes. Takes away a lot of capital. 19k + 6k + 3.5k hsa is like 28k before you even get paid. Doing that on 40-60k / year blows dickssssssssss
Marko, great video brother. You cleared up a lot about the rules and benefits with the Roth & Traditional IRA. My wife has a 401K and I have a 403B and we exceed the Max in combined salary to do a ROTH. However we both contribute a large amount to our 401K & 403B which does bring us below the max income for a ROTH. Can we still do a ROTH as long as our contributions to our 401K & 403B brings our combined salary below the $193,000 limit.
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.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
If I may ask, as in withdrew all of the money from the 401K and IRA programs? If so, what was your strategy behind that decision? Thank you.
I've stuck with ‘’Julianne Iwersen Niemann” for about 9 years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds.
Choosing a Roth IRA is advantageous as it uses after-tax funds and allows tax-free growth. When I retired, I had $1M million saved, and I won't be taxed on my withdrawals.
You're right, I used a financial advisor. Approaching retirement, I've benefited greatly from their supervision. Starting late, I knew index fund compound interest wouldn't be enough. It's funny how I've outperformed peers with more years of investing experience.
Accurate asset allocation is crucial right now, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. financial advisory is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1m ROI
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
Sharon Marissa Wolfe is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $1.2m in gains… might not be a lot but i'm financially secure.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
My CFA 'Grace Adams Cook' , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Great video, I have worked all my life without thinking about my retirement. Now my kids are growing fast, the way I am spending my savings, it has come to my attention that at my old age, I will have no jobs, no money left and no retirement funds to fall back to. So I am asking what do I need to do and how do I begin investing in my retirement. I just need professional advice. Thanks.
Could you please refer me to your expert, I will like to look him up.
@FloraGEvans I am kind of skeptical about all investments, but I have no other option than to begin my retirement plans. Please what more can you tell me about Deborah Lynn Dilling. I want to be in safe hands.
Could you please provide me with her contact details? Thanks.
I looked up her name as instructed, I found her business contact. I sent her an email her already. Thanks.
Wow. As a 20 year old you who is just starting to learn about investing and who typically needs things repeated about 3-4 times so It can be understood, I understood EVERYTHING you said. I am so glad I found your channel. thank you x1000!
My pleasure! Don't forget to check out my school too whiteboardfinance.com/wbf-university-waitlist/
While your 401(k) and IRA account will likely continue to grow after you stop contributing to it, that growth will be limited by the market, your plan’s balance and other factors, so i can perceive the preference for Annuities, I still want to know how best to compound at least $2m in retirement savings without holding cash.
For many years, bonds or other fixed-income assets could produce the yield needed to provide solid income for retirement needs.The importance of having financial safety could be why boomers are turning towards advisors in retirement planning
This convo makes me realize how important it is to monitor the financial health of retirement plans and understand how they're invested. It's not something we should take lightly. Please who is the advisor that guides you?
Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million. So it really does. It's also a very quick way for people who are close to retirement but with little money accrued. I wish more people knew about things like this.
My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. Haha.
I don't know, but I think there are lots of things that the public should be educated about. When I learned I could make way more investing in the market than the 401(k), I was a little pissed, because why wasn't I aware of that?
@@victorlaranjahal You must be an investment pro to have been able to pull in such profits.
Oh, not at all. Haha. I'm a complete noob in investing and all those stuff. I actually worked with one Sharon Louise Count whom I found her website online. She's a really great investment advice.
@@victorlaranjahal Thanks a lot for this. I just sent her an email. I hope she gets back to me soon.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
Yes, you are right. it's been a brisk tailwind for lnvestors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financiaI advisor.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@@mariaguerrero08 Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
*Camille Alicia Garcia* is my portfolio-coach, I found her on Bloomberg where she was featured, I googled her name on the internet. Fortunately I came across her website and reached out. You can go verify yourself
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
For those who doesn't know these terms will understand it really fast by this video. Just like today, learned some new stuff on both subjects that I didn't know from the past. Thank you for the well explained video.
Thanks for watching Shane :)
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
I agree. Based on personal experience working with a financial advisor, I currently have $2 million in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Sonya Lee Mitchell is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
It’s crazy that I found you. Honestly it was by accident. I was walking around my room with my phone in hand and open to UA-cam. I had just been on Trulia looking for homes in Ohio. Thank God i found you. I understand so much now because of u. I’m binge watching all ur videos because i want to learn more. I live in Cali and my husband and i are thinking of moving to Ohio next year. But we need to pay off our debt first. So thank you 🙏🏼 God bless u
My pleasure, best of luck to you
I don't know how you only have 649k subscribers so far. Great videos!! You should have more than that.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
Oh, that sounds good but how do I reach out to PRISCILLA DIANE AIVAZIAN?
Okay, thank you. I just found her website very impressive and dropped a message for her.,. I hope she replies to me
*PRISCILLA DIANE AIVAZIAN* is an excellent financial advisor who has influenced my financial journey, and I highly recommend her services.
Y’all sound like bots😭
Excellently said I recently received a relief check from a charitable organization for $24,000 and I still can't believe it
you can correspond with a relief officer
on just the telgramm appp
funding usa 0 0
i live in Vermont, and im on SSA.. can i apply
I never expected to see a subscriber mention this dependable body, which was a strong helping hand for me and my family when times were tough
It was great! Not dry at all. This really is very well explained for dummies (me) thank you!
I've watched soooo many confusing videos. You've explained it clearly. Thank you!
This is absolutely fantastic. Thank you for all the transparency! You make things easy to understand in such a confusing topic that is necessary towards our future financial stability.
My pleasure thanks for watching
I like your videos! You speak slow/ clear / simple. Easy to understand. Thanks
You are helping a generation get ahead on their finances, thanks for the content and great advice. I'm 23 and thanks to you among other youtubers like yourself i'm maxing out my 401k and on my way to maxing my Roth. Keep chucking, you're making a difference.
I am in the same boat, just turned 23 a few days ago.
Thank you!
Alex, did you make it to the end of the video? Marco, like others, would suggest the company match, followed by maxing out the ROTH, then I'd contribute enough to meet a 15 - 20% of your income. That is if your debt is paid off, potentially saving for a house, and have an emergency fund. Or are you planning on using the Roth as somewhat of an emergency fund?
Procrastinating and not starting one as soon as I was eligible was not the best move. It's really not that hard to open an account and manage yourself. And you can also have your brokerage manage it for you. If you're reading this, start now.
I'm excited for the next bull market! But yes definitely going to be making money during the coming recession!
@@kirastokefield2547 My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
@@hannahcampbell6847 As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@@kathleenruiz4204 I agree with you. I ventured into stock with 109k and now I'm about 30k short of half a million dollars. Credits to Suzanne Stephens Ellis. She's verifiable
@@stellarivera9787 Interesting, I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this.
Can you do one comparing a traditional IRA, Roth IRA, 401k, and Roth 401k?
Wow, I was watching this video on 1.5 speed. I was amazed at how quickly he was able to spit out these concepts. It wasn't until the end that I wanted to slow him down and realized LOL. Great video.
Great video! I love investing into my Roth 401k where my employer matches 100% of my 6% and then deposit $6,000 each calendar year into my Roth IRA
Smart!
I just learned this tip from you and I'm going to try it! thank you for sharing.$
Check on that. The match is most likely classified as pre tax and will be taxed accordingly upon withdrawal. Still a great deal of course. Free money
Hi Marko, don't usualy make comments to this stuff but this was an excellent explanation. I learned more in this 20 minutes than i have learned in years regarding these subjects
Terrific video. Clearest explanation I've heard on the topic.
Thanks Jorge!
Marko - WhiteBoard Finance i concur
This page is awesome! Marko you da man 👌
Thanks for making so much sense. It is a 3rd video I’m watching on ROTH IRA and first to make sense for me!
Investing is worth the hard work. If you don’t save and invest now, you won’t have anything to live on in retirement.
Everyone knows only the rich retire.
There’s no limit Derrick, if investors made smart portfolio moves, then there’s high possibility that just anyone can retire rich.
You’re right Bernardo Gutierrez..
Years ago, my account manager Dan Raziel bought some Amazon shares and put it into my Roth, by such smart moves I’ll definitely be retiring rich in few years. My best piece of investing advice is that you talk with an investing professional. Get someone on your team who will help you stay focused and keep chasing your dreams!
Wow Roth IRAs are so underrated.
@@jackwyatt9649 I’ve read about Dan Raziel on various investment forums I’m on. Im not entirely a fan of getting an expert but it’s quite impressive how much reviews he’s got out there. How reliable is he?
I have been waiting for this video! Now that I'm going to be 22, I thought I should get started as soon as possible.
Time is on your side!
I wish I did this when I was 22
@@user-jk1id8tc3k Yes, I totally agree. I was planning to contribute $50 a month since college is pricey and I need the rest of the money. I haven't started my career job yet so a Roth IRA is perfect. Thanks for your comment
Don't forget the 7 Baby Steps. He has a great video based on Dave Ramsey's teachings. Both of these guys have great knowledge and insight into money management.
@@ProgrammedByPooja, starting early is great as long as college debt isn't killing you and one has a basic emergency fund.
Love your videos so easy to understand.
Thank you for explaining them in the beginning. I was looking it up at the same time so it was helpful to know one is done on your own and the other is employer sponsored
Invest in both of these now and your 60 year old self will forever be thankful
You are a financial guru. Thank you so much for breaking this down. I just opened a new credit union and you explained the differences better than my financial advisor. Thank you so much ☺
I like your explanation. It helps me a lot.
Wow you have a skill of a teacher.
Lots of great information here! One misnomer that I wish you spelled out better for everyone is that you're not paying taxes on the full balance of your traditional IRA or 401k but just what you withdraw each year (considered as income); and that hopefully the amount of money you have to withdraw during retirement is far less than what you currently make (assuming you were smart about money and paid off your mortgage by then, among other things) so the tax bracket issue is less of a problem.
Yep, spot on. He makes it seem like people who make 1 million their final year of employment will have all of their 401k taxed at 37% which is wayyyyy off.
Thank you for your honest opinion. Your videos are so educational. I wish you the best.
VERY GOOD EXPLANATION. THANK YOU VERY MUCH!!!❤️❤️❤️
Great video Marko... perfect explanation and definitely helps understand the differences between both - especially the last section.
Superb audio quality Thank you
Great information 👍. I wish I had someone like you to listen to 30 years ago. Thanks for sharing your knowledge. Yeah this was one of your longer videos but you cracked yourself up a few times, so the humor was there! 😂 thanks again!
My pleasure thanks Tommy
I teach this and set up Retirement plans... 401(k), Roth IRA, Traditional IRA, SEP’s etc.. you’d be surprised at how many people no matter what age, blow me off or think I’ll just do it later or next year etc... we all know what happens when we as people say I’ll just do it later... then years later complain they are broke.
Great video as always! But I gotta say I miss the Time Stamps! Those are so valuable. Cuz this is the kind of info a newbie like me has to go back and re-listen to several times to really drill it in . Repetition is key!
Same here
Thanks for the info, lil late on my Roth contributions but I’ve started and feeling good about it
thanks for your videos! I always learn big time.
Thanks a lot. Just starting to invest and wasn’t sure how to go about it. My employer doesn’t match, so maxing a Roth IRA and then contributing to my 401k
You're welcome please share
@@WhiteBoardFinance I'm 43 and only have ever invested in a 401k. I have about $100, 000 in my 401k. My employer matches a whopping 1.5%. I have about 40k sitting in a find from my previous employer where I resigned from that company. Should I leave my money there ( it's been there since I left in 2010), should I took it over to my current 401k, or can (and should) I roll that into a Roth IRA? Thanks
@@alrocky thank you. If someone like me is concerned about the stock market crashing this year, you would you recommend to rebalance a portfolio to minimize risk? I have 50% in growth funds, and 50% in aggressive growth funds. Any guidance is appreciated 😊
@@alrocky thank you. I'm locked out of my 401k right now as it's in a transition to another company. Once the blackout period is over, I will reply with the funds. I agree about timing the market, I'm just looking to go more conservative now for a little while anticipating another mass collapse like in 2008. I have another 20-25 years to go until retirement, but I don't want to lose a lot knowing the stock market is artificially high. I'd go back to mostly aggressive stocks when it mean reverts. That's my general plan. I didn't really rebalance that much, maybe twice since 2010. I just want to rebalance to minimize any losses. Not sure if you are a financial planner, but my financial planner goes by average yield rate, and I have learned what CAGR compound annual growth rate is. I have learned CAGR is more accurate. So, with that said, I was thinking of 25% in growth and aggressive growth funds, 50% mix of corporate and government bonds, and 25% treasuries. Just to minimize losses for now. Again, I appreciate your feedback, and welcome any thoughts. I like to give back, so if you have any physical ailments, I'm a doctor of physical therapy and would be happy to help you in return. Thanks again.
Your videos are a great resource. Thanks.
Video covered good ground. I feel like a better comparison would have been: Roth IRA vs Trad IRA or Roth 401k vs Trad 401k.
Its easier to understand their both opposites sides of the same coin regardless if its a 401k or an IRA. The contribution limits, taxes and penalties for distributions, and the source of the funding is generally going to be the same if its 401k or IRA.
But the pre-tax/after-tax is the wrinkle that really distinguishes them. The Employer Match/"free money" is a nice little thing for your Traditional 401k though that neither Trad IRA, Roth IRA, nor Roth 401k can do.
Agreed
Agree... apples and oranges.
Thanks for the informative vid. I'm 33 years old and trying to get my money right for my future. This helped a lot!
I get excited every time I see a new video available!!
Lol thanks Julie!
well explained. Thanks for clearing that Roth IRA contribution can be withdrawn anytime but gain.
You just gave me more info than my real advisor that is provided through my work...
That is very helpful tips Marko thanks for sharing keep it up good work.
I greatly appreciate the education, knowledge and financial wisdom that you took time out of your day to share with us! I really wish that i was taught this in school! Thanks again for the knowledge and education!
Omg thank u. I usually try to watch finnance videos and they go everywhere and i get frustrated and just end the video. This video is so amazing and really dummied down for people like me. U explained everything so clearly u could literally be a finance teacher in college. Thank you so much def gonna check out more videos on ur page
Always enjoy and love these kind of videos! Very educational. Thank you!
Thanks Grace
Such a great video , thanks marko
Marko:
Hard and soft shell taco girl: *”Why not both?”*
Hahaha
I love your channel .please keep up with the great job.
Your fun to watch ,lots of great info sweet smile ,I love when I see smart young men.
The company I work for matches 100% of 6% of my salary (they also give me an additional 5% for free) ..... So I put 6% in my 401k, and a put $6,000 in my Roth
Thats awesome!
Thats amazing! Definitely higher than average matches. What industry are you in? :)
RealLife Money - Weekly Financial Videos, oil and gas..... And the 5% that you get for free changes to 8% for free if you are over the age of 50.... Hopefully I'm still working here when I'm 50 haha
If your company offers a Roth 401k you would be better off putting all your money into the 401k. Your money will grow quicker due to it compounding in one account.
@@JesseStJohn-sv9dqwouldn't it be better to get the Roth 401k option if available? That way your contributions go into the ROTH and the employers goes into the traditional, then every year do a backdoor Roth to convert the employers match into the Roth 401k and just pay the taxes on any gains (which is not too much if you do it annually). That way upon retirement, your contributions and your employer contributions are ALL in the Roth. So tax free!!
Thank you for the videos. You're really easy to understand. Helps simple guys like me.
I think it would be beneficial to Military and Federal employees if you were to make a TSP contribution video. Your videos are straight forward and simple and easy for me to share with my coworkers.
Your voice is soooooo easy to listen to.At some point some you tubers Natural pace, perfect pitch .
Great video!!! You didn't touch on the Roth Roth IRA Conversion Ladder. This would be a good subject to touch upon.
This is the best, easiest to digest comparison video I’ve seen so far. Thank you.
There is a lot of information missing from this video. I'll give you one example he never mentions the standard deduction in retirement. If you use a Roth and you have no other income in retirement what will you fill the standard deduction with?
Cookie cutter advice with taxes and investing isn't usually very good for most people. Break out of tax calculator and figure this out and you will get the best answer for your situation
I been watching your advised for awhile, they are eyes opening for me. I am working on my passive investment to secure my future financial retirement. Thank!
Ho Le
Hello. My name is Lizandro and I’m a financial advisor. I can help locking in your retirement plan and set up more investments for your family’s future.
Thank you for this video best one on UA-cam you are great at breaking all this down into a simple explanantion!
Thank you for making this! I really enjoy learning visually on the whiteboard
My pleasure thanks for watching
maxed out mine for 2019 and 2020! plus $6,000 in my robinhood, making about 11% per year on both, so glad i started at 18!
Thank You! just what I needed to hear.
Great information buddy, Thank you
Great job Marko I didn't know the 401k contribution is now up $19k..
This video is so helpful!!
I'm prioritizing my ROTH over 401k during this period of low taxes. I'm nearly positive tax will be a heck of a lot more when I'm ready to retire in 30 years. Of course I take the full match from my employer in the 401k, but I make sure to max out my ROTH each year. In the end, I think finding a balance between both makes sense for anyone to try and hedge against tax rate changes.
Agreed, keep it up!
Dnazz amen to that I do the same!
they were over 70% in 50's / 60's... History likes to repeat itself....
My hospital offers 403b and roth ira. Can i invest into both? I am not investing in roth as of now because i dont knw if i can do both
What roth company do you have?
Every parent should quiz their high school senior on this. This is not a joke. This is valuable information.
Please share with your friends
Stop asking if it makes sense!!! You won’t get a response.
Also great video 😁
Does that make sense?
Simple language and simple explanation.
Can you do a video about how and where to set up a Roth IRA?
Sure!
Marko - WhiteBoard Finance please. People tell us what to do but now how to do it. Do I go to a bank? 😩
Just what I was looking for! Great video! Thank you!
I watch your videos to learn english hahaha! U have a perfect pronunciation for us foreigners
lol thanks Marcelo
he probably sounds just like you lol
Incredibly thorough video, thanks for the easy to understand explanation!
Great explanation, I would love to see some content on the Thrift Savings Plan and differences between TSP and 401K/Roth IRA.
Thanks
same
Excellent video, very useful. Thank you Marko!!
Teacher here. We don’t get a match 😩 but I invest in 403b after maxing out my Roth IRA.
Wow that kinda stinks :/ Thats good that you're taking it into your own hands tho!
Yup... no match. I had a crappy 403b for two years. I recently figured out how to change to a Vanguard 403b and investing in the total market fund. I feel better about it now.
Ronnie Ross Didn’t know vanguard had 403bs. Thanks for the details!
Bigger question is do you pay into social security?
The Grimm Perspective - Cory Grimm nope. We don’t get social security. I pay into the teacher pension of my state.
loved the video!!!...
simple and easy to understand!🤗
I personally think a ROTH is a good choice especially if you plan on increasing your income year over year with jobs, investing, and other income. I did a video like this and the future tax rate could definitely go higher! Could always have a regular 401k with a ROTH IRA on the side too
Agreed, thanks for commenting :)
And if your employer offers a Roth 401(K), then you have the best of both worlds.
Awesome video. Thank you!
Great info, big fan of the channel! Would love to also have some more advanced videos with more in-depth content too!👌
Thanks!
good video thanks, I have been putting over 10% into my 401 since my mid 20's. Going on 57 now. Start early folks! I still may be living in a van down by the beach.
Love the videos. I was wondering if you could do a video breaking down a SEP IRA vs a wroth ira. I am self employed in my 20s and trying to figure all this out.
Great video. Thanks for taking the time and giving us this info.
Thank you for all the information and transparency...it is nice you're not always so vague...yes I know I need to get financial advisor but you help us to know some of the questions to ask... Happy fourth of July!!!
My pleasure Desmond, thanks for your comment and for watching
Desmond Hughes
Hello, I’m sure you have found a financial advisor by now with great financial investments like life protection & IRA. But if youre open to saving money and getting better benefits, im sure i can be a greater assistance.
Very clear finally I understood thank you
They definitely both have their pros and cons in all honesty why not invest in both if given the circumstances is my question 🤨 Definitely a great way to add more income for retirement great video bro. 👌
Thanks Oscar! I actually proposed that at the end of the video! 🙂👍
Very true, both are great options! BEWARE of expenses and hidden fees tho, they eat into our money without us even realizing. There are also ROTH 401k if you like that idea too
That's exactly what I'm doing. 15% and 10% 😉
Investing in both is kinda annoying sometimes. Takes away a lot of capital. 19k + 6k + 3.5k hsa is like 28k before you even get paid. Doing that on 40-60k / year blows dickssssssssss
Watching this in Jan 2022 and thanks Marco for this video!!!
Damn Marko, thanks for the info and for the help.
My pleasure thanks for watching Erick!
This is a very helpful video for beginners! Sharing it with friends and family! Thank you
Marko, great video brother. You cleared up a lot about the rules and benefits with the Roth & Traditional IRA. My wife has a 401K and I have a 403B and we exceed the Max in combined salary to do a ROTH. However we both contribute a large amount to our 401K & 403B which does bring us below the max income for a ROTH. Can we still do a ROTH as long as our contributions to our 401K & 403B brings our combined salary below the $193,000 limit.
Insanely informative dude, thank you
Everybody drink when he says “if this makes sense”
You literally just killed me
Thank u Marko you are a great educator.