The 6 Accounts EVERYONE Needs For Financial Freedom (OPEN THESE TODAY)
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- Опубліковано 20 вер 2024
- Getting ahead with money is a lot easier when you actually have a place for your money to go. As soon as payday hits, your money needs to have a place to go. Otherwise, you'll end up spending it all... and going from paycheck to paycheck is NOT fun! Learn about the SIX accounts that EVERYONE needs for financial freedom. You don't need to have all six of these accounts right away, but it's a good idea to eventually have them all, because each one serves a different purpose. I'll explain each account in order of importance, so feel free to start from the top and work your way down the list!
**ATTENTION: I have a new Instagram and TikTok handle @itsrosehan **
That's my official account, and I will NEVER message you about investment schemes, so please be careful and block & report any scammers posing as me.
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***FREE DOWNLOAD: Ultimate Guide to Investment Accounts www.rosehan.co...
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**BOOKS I RECOMMEND 📚**
I Will Teach You to Be Rich (hilarious how-to book on personal finance for millennials)
amzn.to/2VbJ1Pt
The Little Book of Common Sense Investing (Jack Bogle's classic advice on index funds)
amzn.to/32ewzjj
InvestED (step-by-step, millennial-friendly advice on how to pick stocks like Warren Buffett)
amzn.to/2SLTYpn
Unshakeable (this book = courage. blast ALL the fears & misconceptions you have about investing)
amzn.to/2SKyklt
Rich Dad Poor Dad (#1 selling personal finance book of all time... need I say more?)
amzn.to/2SJ6vtx
Think and Grow Rich (the ultimate book on money mindset and wealth consciousness)
amzn.to/37N2adc
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**MY FAVORITE MONEY TOOLS 🖤**
YNAB (I literally can't live without this budgeting app, so obsessed)
www.youneedabu...
Wise (like Venmo but for international currencies - I use this app a LOT for my life in Mexico)
wise.prf.hn/l/...
Ledger Nano S (crypto storage hardware wallet, because "Not Your Keys, Not Your Crypto"!):
amzn.to/3Ne37jy
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DISCLAIMERS & DISCLOSURES ❤
This content is for education and entertainment purposes only. Rose does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Investing With Rose is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Thank you for your support!
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• The 6 Accounts EVERYON...
***FREE DOWNLOAD: Ultimate Guide to Investment Accounts www.rosehan.com/ultimateguide
🤝 Thank you #InvestingWithRose!
Thank-you for this valuable resource!
Which is better to invest in a 403B with Edward Jones with high fees and expense ratios (my school won’t let me choose which company I would like) or investing more with my own brokerage account with index funds of close to zero percent expense ratio?
Best and most easily understood explanation of Roth IRAs and HSAs I've seen yet!! Very informative!! I'm wondering if you have an opinion on Bitcoin and Crypto? Particularly on apps like BLOCK FI , M-Stable and Crypto.com that offer 10-12% interest on stablecoins pegged to USD or the EURO. Ok, just finished your Bitcoin video, still want to know your thoughts on the rest. Thanks 😊
Hi Rose , so what if you’re single , make over the the max AGI for a Roth IRA ? Where would you put your money ? What about when Biden’s Administration removes the tax break for the 401k what would you do then ? Thanks for the help
EXCELLENT VIDEO THANK YOU SO MUCH!!
1. Savings Account for Emergencies
2. Workplace Retirement Account
3. ROTH IRA(DONT HAVE TO PAY TAXES) and Traditional IRA (YOU WILL PAY TAXES)
4. HSA-HEALTH SAVINGS ACCOUNT
5. HYSA- HIGH YIELD SAVINGS ACCOUNT FOR BIG PURCHASES
6. TAXABLE BROCKERAGE ACCOUNT
@@investingwithrose6401 Not trading. of course I want to do that too. But I want to invest for a monthly return. I want a return of 600.00 a month that is what I am looking for. 7200 or more a year.
@@investingwithrose6401 Thank you for responding.
Coming from an immigrant family, I never had the opportunity to learn this crucial information until my mid-20s. The more information I get from your videos, I'm more determined to put an end to the cycle of poverty in our family. Thank you, Rose! You are changing my life.
Likewise
Thanks a mil Rose! You have inspired me! I’ll be investing on a regular basis. God bless you. Thanks for sharing your knowledge with us. We appreciate you.
When you know better you do better indeed.
Both sides of my family came here pre revolutionary War. So we've been here a long time. The few things I was taught about finances were incredibly wrong, especially when it comes to credit. I had to figure it out my self and honestly took me till my late 30s to gain a proper understanding.
Best advice is don't rush into marriage. Don't have kids until you're financially stable.
Invest in your future. Slightly less money now means much easier life in the fiture.
0:55 Account #1 Savings Account for Emergencies
4:15 Account #2 Workplace Retirement Plan
6:12 Account #3 Roth IRA
8:55 Account #4 Health Savings Account (HSA)
10:55 Account #5 Savings account for Big Purchases
13:52 Account #6 Taxable Brokerage Account
just look at the chapters (or maybe she added the chapters afterwards)
Thanks for the summary
An emergency fund and retirement account are both essential, good to see them first up in this video.
I thought I was doing pretty well in my personal finance, but I was today years old when I learned that $ in an HSA is not a "use it or lose it" account. Thanks, Rose! I am learning so much from your channel. A little late in life, but better late than never, I guess.
Rose is gonna to be rich soon. She is smart and know what she is doing.
Beautiful don’t forget beautiful. I know that’s no criteria for becoming wealthy but it’s still worth mentioning.
"The key is in not spending time, but in investing it." - Stephen Covey
Always love your videos Rose, very informative. This is the type of education we all need to navigate this consumerist society.
I love the way you do finance videos. They actually hold my attention! Thank you so much for taking time out to make videos!
This channel is awesome for a clueless 20-something like myself. Thanks Rose
I'm 32 and 2008 sucked. Especially for my friends that went to college. This video is great. The simple moves to make to be financially secure. 👍
@Data Ghost 👻, you don’t want take up that offer with Rose, she will take your BTC and block you. She’s soo good that she will convince you with her sweet talk. Please be vigilant. Rose is the green snake.
@@Braindazle wow she's in it to win it. 🤣 thanks
Yes I am the same age those year between 08 until 2012 was the worst.
Yup I graduated in 2007 and it was awful post graduation. Those were crucial lost years to make money
Rose, thanks for the great video, as always. Actually, I recently learnt that HSA is a triple tax loophole (if you add money to the account yourself) but quadruple tax loophole (if the employer does it automatically). With the latter, you avoid payroll taxes that you don’t with the former. An excellent vehicle!
I’m 34. I’ve been through a real recession as an adult idk wtf you talking about. In 2008 at the peak of the recession the oldest millennials were 27 years old. The great recession was from 2007-2009. It effected a decade worth of adult millennials. Those of us who were just entering adulthood at the time got it the worst because we were just starting and at a huge disadvantage.
1. Gas peaked at $4.11 per gallon
2. We had to compete with people a decade older than us for basic retail jobs.
3. The rental market was in a frenzy because of so many foreclosures.
Not all of us went from high school to college as a continuation of childhood with mommy & daddy to fall back on. Many of us were thrown in the fire and it was hard.
You are the best financial educator on UA-cam!! I have watched so many and you make it SO simple and easy to understand. Honestly, this information is changing my life by my understanding of financial literacy. THANK YOU!!!! ♡
WOW thank you, your comment made my day!!!
Ever since I started watching your channel last year, I have come pretty far along on my journey to financial freedom (I started 5/6 things from this videos list)! It's really empowering to not stress about money and having a solid plan, I appreciate these easy to follow roadmaps you discuss in these video! Keep up the good work and definitely love that you have a YOLO fund. 😊
That's so awesome! Keep up the good work!
For UK 🇬🇧-
Savings account = savings account
Roth IRA = pension account for retirement
Investment isa = stocks and shares isa
Taxable account = cash isa
Health account is only applicable if you have health insurance of course. (In the UK we all have access to free* healthcare)
*funded by tax payers money
Thanks Rose super helpful for even us in the UK as the account set ups are pretty similar! I love the way you explain it. Easy to follow and now boring lol!
What’s the difference between Roth IRA and 401(k)?
I fully agree. One you are missing is a pension account. I am a believer in the three legged stool: Cash, investment accounts (prefer Roth), and a pension. From my calculations that is the secret to early retirement.
Very true, thanks for picking up what I missed to convey.
One you are missing is a pension account.
Workers under the age of 40 are asking "what the hell is a pension account?"
@@DavidEVogelExactly my question 😂😂
Lord help me, I must be smitten. Financial talk is boring when other people do it. 💙 Keep killing it Rose!
I've 3 out of 6 accounts you recommended. Thank you for giving me more options for opening more accounts. I'm looking into it when I have more money!
Roth RIA now up to $7000 per year. Since 2021. 👍🏽
im 21 years old, graduating college with no debt, and im just getting into this financial journey, so i don’t have any of the things you mentioned but i’m going to start looking into Roth! I also have a “savings” within my checking which is money i don’t touch, so i don’t go below a certain number if that makes sense. thank you rose!
Rose, I was sitting on savings enough to pay off two of my credit card debt. I was saving for an emergency, but hearing your video where you said that if you have emergency fund of at least $1000 then pay off the debt. I paid the 2 credit cards off this morning. Although, I miss the money. I feel better about freeing myself of those two HIGH interest rate credit cards.
I have two more credit cards to handle: $1,200 and a $3,700. I will pay off the $1200 within the next 3 months or sooner, and then I will handle the last one.
I don't want to touch my emergency fund again. I'm not that brave, yet. :-)
Thank you for your great advice.
if you have emergency fund of at least $1000
The emergency fund should suit you. Consider the loss of a job. How long will it take to find another?
@@DavidEVogel - I have more than $1000 in my emergency fund. I don't know how long it will take for me to find another job. I'm not as young as I used to be. :-)
Your videos are the best . I wish I learned all this information when I was in my early 20s
A couple of things:
1. You can contribute $7k in an IRA/Roth IRA after the age of 50
2. You can't contribute to a Roth if you make more than $140K a year, unless you use a backdoor Roth technique
Good video. I never thought about an HSA. Hopefully my job (which I just switched to) offers it as an option.
What’s a back door Roth technique?
@@joeyhomewood Convert a Traditional to a Roth.
YT may be filled with flowers, but there is only one Rose.
I got my braces with my HSA a great deal. I just let it grow and was able to pay for them with that. I recommend everyone use. ALSO ladies HSA now covers all feminine products take advantage
HSA is best not to touch the money for medical. Just pay out of pocket and let your $ grow. Otherwise you lose on the benefits of an HSA.
@@zuhalterei4090 tbh that seems questionable??? Like, if I need to pay a medical expense anyways, I might as well use tax free income for it
@@marzipan2555 yes but the $ is triple tax free in retirement. If you use it for current expenses, you are getting the funds at a discount (your marginal tax rate), but you are giving up years of tax free growth. If it is a large expense, I get it, but it is usually better to let the money stay put since you have to have High Deductible plan, which you only get while working not retirement
Please discuss 529 plans for children. Thank you 🙏🏻!!
Retirement plan at work (with addition of a pension), Roth, and taxable brokerage = Yes. Not eligible for an HSA. Emergency fund spread across 3 accounts (Fidelity money market fund, Schwab Hi-yield checking, credit union money market) - halfway to my goal for the year but already have 3 months saved. 2 additional Schwab accounts that I invest - one for a new car (3 year time) and retirement home - 10 - 11 year time.
Very informative Rose! I don’t have #4 because I always felt health plans with HSA’s are expensive and take a huge chunk of my paycheck- but the loophole is making me reconsider. For #6...I opened UTMAs for my children/nieces, so I consider the last one as the taxable brokerage accounts. Thank you for the advice 😊
I have an HYSA and a Roth IRA so far. Right now, I'm focusing on paying: 1) Savings, 2) Debt (Student Loans, etc.), 3) Bills, and 4) Roth IRA in that order.
I really like your approach to explaining things. Too many people sound like they are trying to sell you something. Thanks for making another great video.
It's like talking with a fiduciary but in the comfort of your pajamas. Great video.
Rose, I love your channel! I have a question for ya. My wife and I saved up 6 months of expenses for our emergency fund. Because of the pandemic and lowering interest rates, our HYSA dropped to returning only 0.4%, which I know is getting eaten by inflation. To hedge against inflation, we moved 2 months of the fund into total US and international bond funds with Vanguard (VBTLX and VTABX). The funds are considered to carry relatively low risk (2 of 5). We have very, very secure jobs with the government, but I do have a chronic illness. Do you think this 4/2 split of our fund is worth it to guard against inflation? Thanks so much for your time!
Thank you for the video Rose. Great list. The only one I don't do is the IRA. If you max out your 401K from age 30, it will be over $3M by age 65. You can manipulate that in a few ways, but do you need more money tied up than that? Or should you use that money to buy other assets now? It is great if you want to lock in more of your money beyond your $20K+ in a 401K, but for me, the flexibility is far more important.
Also, saving for a big purchase, like a home, can be beneficial if you do it much earlier. In areas where home prices are high and appreciate, waiting isn't usually a good tactic. Living in the Seattle area, I know many people that thought they could wait, but now can't afford a home anywhere near the city. I bought a home in Seattle shortly after college for these reasons and now it is an income property. Paying a mortgage that is now 1/2 or less the rental rates is a huge benefit. If I would have started an IRA and an HSA before that, then I likely would have been priced out for many years. When calculating, make sure you include the rent you are paying as straight expense that doesn't build any equity.
So what worked for me was (1) Emergency fund - after step 5 I changed to Long-term stock as emergency (2) 401K employer match (3) home purchase (4) 401K max (5) Purchase Account (6) 15% off ESPP - instead of an IRA (7) HSA - had health problems before or would be 4th (8) Stock account
So hard to find nice content like this. I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability
Invest globally in bitcoin, gold, silver, forex market, commodities. Just don't be left out and save yourself
Beautifully said, I tell my folks these words everyday. It's good to save money but most people don't understand the market moves and tend to be misled in facts like this and always depend on money in the bank.
Pure wise comment.
@Collins Markson Hey, this is a computer age. Peeps who aren't even traders make money from the crypto and forex markets ,how many millionaires do you know who have become wealthy by investing in savings accounts?
Very helpful, this is what I needed to hear today.
"financial freedom does not happen over night" Thank you!! So many people make all of the steps so stressful and in a DO EVERYTHING RIGHT HERE RIGHT NOW! And while the goal is to set up all of these wonderful things everything right now is not always easy or even potentially a good idea lol. Working on building up everything on the speed that I can. Thank you for all the amazing videos and information! Education is knowledge and knowledge is POWER 💪
Send your link to my wife yesterday, she's only beginning her investment journey. Thanks Rose.
I think im in a decent place. Working on improving it every week. It takes sacrifice for sure. Sometimes got to skip that concert, or skip that costly day at the beach and just relax at home. Im ok with this because ive always been introverted but its hard when you are in a relationship with someone with a different mindset with money. Anyway I have 4-6 months emergency, works 401k that I meet the match, IRA, 3 non qaulified taxable accounts. 2 are locked into indexed annuties 1 is open to eventually grow enough for a wedding. about 500k. Next year ill do the HSA. I didnt even know it was a thing. I also overpay my mortgage a few hundred which can shave years off the loan. At the end of the day you need to work more, earn more, and save more. To many people earn more but spend more
Great channel, Rose! Thanks for the easy-to-understand walkthrough. I would note that there are annual caps on tax-free 401k contributions, so in your example $20,000 is just a hair over the cap of $19,500 (although your employer match can take you beyond this tax-free). If I'm wrong on this, please let me know, I'm not a CPA or anything. As usual, check with your accountant.
My favorite investment channel
Rose, You are Awesome!! TY!
Wondering if you are able to do a comprehensive video on ‘Settling Credit Card Debt’?
Good Move? Bad Move? Etc.
I value your opinion and I think many people, in trouble financially, could benefit from your direction on this topic.
Thank You, Beautiful Person. 🌹
You give a lot of common-sense advice and information. Thank you for doing all this for free. I am sure it will benefit so many people. May even change their lives completely for some people. I wish you happiness and success in your life. Bless you.
love all the info you share
@@flippingmasterytv2778 I hate scam/spam pages
Love the valuable insight you provide. I am 61 and have saved a nice nest egg for retirement and done it by maximizing 401k contributions. If you do that, before you know it you will have $1M+ in savings. One account that I also have is a major expenses account to cover big ticket items such as property taxes, car and home owners insurance so I don't have to draw from savings. Thanks Rose
Big fan here! Totally agree. So EVERYONE, listen to Rose and make that effort to set up those accounts! Emergency funds, HSA, tax brokerage account etc.!
I don’t know what made eBay start showing me your content but I’m glad they did. This video was so helpful. Then you made a guide available. I just subscribed and looking forward learning more from you.
I have 6/6! Though, the only account I cannot yet afford to max out is the 401k but I am working on it. I love your videos, Rose! I'm always sharing with friends and family. :)
Hi Rose - you are undeniably the BEST!!👍💃🏽 You provide such informative and invaluable information to us the public. We are truly indebted to you as we never learned any of this in high school or college. We value you for taking the time to educate us; thank you so much. Keep on doing the excellent job you are doing; it is so appreciated. LOVE, love you for what you do educating us! Peace, Blessings & One Love~ ☮🙏🏽💟🕉
I'm so glad I found your channel! I'm a hardcore Dave Ramsey plan follower and I've gotten to the point where I need a little more help with baby steps 4, 5 & 6. This video has confirmed for me that I'm on the right track and my thinking is correct on the next steps, which is that final account you talked about!
Rose you explain complex financial issues in such a clear concise way! Love your videos!
She's also fine as hell
You can also keep your savings in your local credit union too. No minimum balance fee, no surcharge ATM fees, possible HSA account opening & high yield dividend rates.
They cap your Traditional IRA too. It's that good!
They're both good (Traditional and Roth). One is not universally better than the other. I hear so much about how great the Roth is, but I don't think people realize that it's the same thing.
Take these two examples:
1. You have $6000 to put into an investment account, so you choose to put it in a Traditional IRA. You don't pay taxes today, and it grows at 10% annually for 30 years. At the end of the 30 years, you have $104,696 in the account. You then pay 30% taxes to withdraw it, and you're left with $73,287.
2. You have $6000 to put into an investment account, so you choose to put it in a Roth IRA. You pay taxes on it today, so you're left with $4200. The $4200 grows at 10% annually for 30 years. At the end of 30 years, you have $73,287 in your account, which you can withdraw without any taxes.
So, they're the same, as long as the tax rate stays the same.
The way to play it is if you are in a low tax bracket and think it will be higher in retirement, then do the Roth. If you're in a high tax bracket now and think you will be in a lower one in retirement, do the Traditional. If you're unsure, like most people are, do both. If you're a freelancer or 1099 contractor and can play around with your annual salary, even better - on the low years, contribute into your Roth. In the higher years, contribute into your Traditional.
i’ve been watching you for a few months and i was so excited for this video! because of you, i already had 4 of these! and i’m only 24! when i’m comfortable and retired at like.. 45, i’ll have you to thank!
If only I was 24 And wished I could say the same thing. Haha
Rose I am mesmerized by you and I love the way you put out the information !
Yep rightly said Rose, making financial savvy decisions aren't always glamourous but is necessary for survival. Of course, at the end of the day, those instagram followers dont pay your bills
Yes with Forex and Day Trading
I officially Love your channel and the information. I try to explain stuff to family and friends, but I’ll just send them your video links.
Tip. Look into high yield checking accounts and not just savings accounts. Evansville teachers federal credit union offers 3.3% of the first 20K. Minimal hoops to jump through. 1 of the hoops is 15 debit card transactions a month. Amazon lets you reload a gift card in 50 cent increments from debit cards.
The best thing you can do for your self is to start investing
Im investing stocks in cashapp
@@fa3erkiller919 how is that going for you? I was considering a round up investing app. How long has it been if you dont mind sharing?
@@divagirlari1053 couple months I'm learning the basics on I'm calculate what I'm get on my payments
Years ago I used Charles Givens advice(started in the mid 80's and 90's unfortunately he's dead now).
1. Emergency Fund(average)
2. 7-10 months Emergency Fund
3. Savings Account for vacations
3. Term Life Insurance
4. Low interest Credit Cards(Pay off each month)
5. Buy Used Auto ....never New!
(unless a cheap lease, then buy at end of lease..... Watch that residual value is cheaper)
6. College Fund started month of birth
(children never had ANY student Loans)
7. 15-20% IRA or Retirement Account
(Never borrow from this account)
8. All Bonuses went to retirement fund
9. MSA(forerunner of HSA) if your employer offer it) then HSA in 2000's
10. Physical Gold & Silver(this help me big time....brought silver $6-$8 in those days)
11. Church Tithing 15% each month on Gross, not Net
12. Always Have A Plan For Retiring DEBT FREE
Trust Me Rose Is Right On Point Here....
My motto is 'Plan and Then Work The Plan'.....
I retired Debt Free in 2019, with low mileage 2016 GMC truck, two-acres of land in another state for camper for summer/fall time vacations or getaway.
Monthly expenses average $500.
ALL THE 12-STEPS ABOVE I DID FOR 40 YEARS.....IT DOES WORK.
A lady who is very level-headed and who demonstrates a solid understanding of finance and wealth building; living what she teaches.
She doesn't stumble on her advice and demonstrates a fluency on her topics that comes through experience.
A Ramsey/Kiyosaki baby who has sprouted her wings and now soars as her own brand?
I love your videos! I wanted to let you know for small business owners, if they use square, square banking offers a .5 percent saving account also that takes a percentage that YOU set from your sales! Also you can make as many “envelopes” as you want!
Thanks for mentioning Canada! 🇨🇦
Schwab checking account, no fees for ATM withdrawals no matter what country you are in. If you travel it is your BEST online banking account. I have a Rollover IRA, Roth IRA, Traditional IRA, Taxable Brokerage and a checking account all through them and could not be happier. No fees ever
This is the best video I have seen from to date. I have watched them all! Good job, Rose. Can you please talk about index funds. Also, I like your video closing music, very uplifting! ;)
Good thing of being laid off in CH is : 2-3 months notice + 18 months of unemployment paid 70-80% of your last salary.
Rose please do a video on ETF QYLD love to hear your opnion!
I max my 401k, Roth IRA ( for myself and my wife), and contribute monthly to a taxable brokerage account. Unfortunately my employer does not offer an HSA. Thanks for the info. This just confirms that I am doing a good job for retirement.
Rose you are great mentor to be i have add to my knowledge your teachings to be financially independent and i'm glad i came across your UA-cam channel...
I am not sure if you covered this in other videos, but unless their is an employer match, at all possible you should ALWAYS fund the IRA before the 401K. Why? Because 401K s have management fees and the fund choices are also limited to what the 401k plan provider selects/ (And most of the time they select mutual funds that also have higher fees.)
As an example, lets say you want to invest into an S&P 500 fund If you chose Fidelity or Vanguard for your IRA there are NO fees for managing the IRA, and both of their S&P Index funds have a fees of less than .03%. So for each $1000 that you have in the portfolio they charge about 25 cents a year.
Compare this to investing in a 401K in a similar s&p index. I will use my employers 401K The 401K manager charges a 401K management fee of .5% annually and the only available s&p mutual fund has annual fees of .35% or a total of .85% per $1000 or $8.50 per year. So as your portfolio grows these fees become substantial. If you have $100,000 in the 401K you would be paying $850, vs $25 in the IRA.. Also with the 401K you cant move it to another investment until you leave the employer. With the IRA you can always move from one brokerage to another without any penalties
As you accurately stated the IRA has a relatively low caps. $6,000. And the 401K tax advantages are valuable.. (Also many times employer's match contributions, many up to 5% of the employees contribution. So 401Ks are better for retirement than regular non retirement accounts. The strategy I tell people, with no match is IRA up to limit than 401K. And with employer match. 401K up to the match, than IRA up to the limit, than 401K
Although some employers may not allow this many changes of an employees 401K contribution
Great content Rose. I appreciate the time you take to create these quality videos. Thanks for sharing!
You are amazing Rose. No one before you broke it down like this for me. You did not just make sense but made it more approachable for me. I will follow this model from now on. Thank you.
This is the kind of stuff they need to teach in school. I think a lot of people would be ahead of where they are now if high school would really push classes about this. High school taught me absolutely zero about what life is going to be other than the basics of reading writing and math. Most parents don’t even think about this.
OMG! You're so underrated! You're the only person so far that discusses what/how and most importantly WHY!!!! Thank you so much! I will share this with my whole family! :)
Great video Rose. I appreciate you sharing all your knowledge 😁
Alot of people advise to put your emergency fund in a high yield savings account. I get that you get a higher return on interest but the point of that money is that you use it in an emergency which usually means you need it quickly. It would personally make more sense for me to have my emergency money be very liquid and easily accessible. In this case, a brick and mortar bank is best. You just need will power to not spend it frivolously.
Take the cheapest insurance possible and use your hsa to see natural docs to stay healthy and happy!!
Glad I found your channel. I have some of these but need to get the rest. I love my HSA and actually have 2 of them.
Capital One 360 since it was ING, though divorce pretty much has set me back to square one, stay on your soap box Rose, it keeps us on track, keep them coming and stay safe
If you have a W-2 job, the Roth 401k contribution is TAXABLE income in the same year tax return. It is the IRA that can lower the taxable income.
Thank you for this , I have been learning a lot from your channel . Good job .
Hello Rose, I needed your voice and guidance this year.
Do you have a Playlist about how entrepreneurs can better manage their incomes, especially if we have multiple sources of income?
This is a great subject for you that many will appreciate.
You mentioned sub-accounts, so I suspect you would counsel that we have a business account, we would automate that one to send to: taxes, marketing, payroll, etc and then our personal checking would ALSO distribute according to our chosen budget method. What to you suggest? 🙏
Well. This is very informative. Financial freedom is very important. It gives you financial control instead of your employer or the government. I do enjoy your videos. 🌹 Rose.
@Investing with rose thanks 🌹 Rose. I will definitely call and get some help from you.
I am going to set an appointment if your schedule allows it.🌹 Rose
Fantastic advice. I would add a 529 plan as an honorable mention for those who have kids and plan to save for college.
You're telling me your friend lost her job and didn't stress out at all just because she had an emergency fund? I highly doubt that. Even with an emergency fund, if you lose your job that's highly stressful because the emergency fund isn't infinite after all
I lost my job since February 2020 and im not worried 1 bit. Thanks for the emergency funds and roth ira I am more than good. If you learn how to invest you won't have to worry at all. I made over 20 grand with my roth last 3 months lol
You should always hope for the best and prepare for the worst. Everyone should have an emergency fund and multiple income streams. Why wouldn't you? I am lucky that I have not needed to work since the age of 38. So many people have no idea how to invest and to only spend money on items that make you happier.
Good advice. I have 5 out of 6 accounts. I have Capital One for everything in which is great and Fidelity for Roth IRA . The HSA is the only one I do not own. I’m not sure if I need it but I’ll look into it
You're so awsome thank you so much I' have a emergency fund and have only one last debt to pay off on my credit report after I'm start saving and investing and now i know exactly what to do and how , again THANK YOU SO MUCH
@@thegrimmperspective im already ok w my emergency fund , my last past due account is for $6125.00 wich i plan on getting a consolidation loan from a credit union to pay off the debt and make payments on a new loan wich will help my credit score for making on time payments
I love the YOLO fund inside the capital One 360 😃
Big fan of all the videos! I appreciate you sharing all your knowledge 😁
Thank you for all you do!! The biggest mistake early on I made was keeping my emergency fund in the same bank as my checking too easily accessible ~~
6:11 - *Roth IRAs!!*
Big fan 💪
Make sure if you invest in an HSA, that you INVEST your balance. MOST people leave their balance in the default "savings" account which earns a pitifully small interest amount. You need to grow your account by using the investing option for the long term.
Awesome advice. If you can’t do them all now start with the accounts you can.
Bravo!!! I was literally adding sub accounts to my Capitol One 360 as you were explaining it. EMERGENCY FUND, INVESTING, BILLS, etc. WHAT A TON OF GREAT ADVICE!!! Thank you. And I also subbed and downloaded your guide to investing.
Ross is like 99% better than most people lol
*Rose 🙂
@@1ixist Her too.
@@1ixist They are talking about Ross dress for less. Saves so much money and is better than most people! XD
Better than 99,2% since there are only 0,8% female INTJ after Meyer-Bricks-Personalitytype-indicator
she’s 99% prettier than most
On my way to financial Freedom and your videos are major . Literally using your videos as a benchmark , along with books I’m reading .
I'd be broke contributing to 6 accounts but I've got 4 out of 6 so far. I find it difficult to max out my Roth IRA. I need a second job just for investing.
Same here. Having all 6 only applies to a few percentage of people who have the income to fund all.
If I can give you an advice on roth ira. I would suggest you max out a roth ira and invest freely. From January 2021 to today. I made over 25 grand in my roth from stocks alone. My 401k at work has 6 percent 100 percent matching and I dont even save up that much in 3 years in my retirement. You always entitled to your money without penalties from a roth ira. Tax free growth as well.
Try a gig job like doordash? That's what I'm doing for a second job
@@csick11 Thanks for the advice! Coming up with 6K isn't easy for everyone. I pay into a pension like retirement plan that eats up a big chunk of my money with my employer. I still manage to invest 15% of my income despite that. I have only seen 6% returns on my Roth and 17% return on my 401K. I'm not sure im doing this right.
Even if you can't max out your Roth IRA it's good to have and put in what you can. I don't max out but at least the money that is there can grow faster than savings if invested right.
Great video. I learned very early that automating my funds was the easiest way for me to be successful with money. It took some time to figure out who much to dedicate toward each goal and it does require occasional tweaking but it worth the time, for sure.
Rose, out of the many investor UA-camrs your site seems to attract the most amount of scammers. I know you can't control it but at this level you should address it. It is creating an unsafe environment for new investors who are unable to recognize what is good advice.
@@KAptKubel let me guess. Graham Stephan did a video on it. I think even his level of scammers do not come close to what is on this site.
I am glad you wrote this. I got one of the scam responses from this channel without knowing it.
Yes, she needs to start addressing it at the beginning of every video. Maybe it will scare them away eventually.
Yep
You have a Knowledge that is Very Deep in Teaching people how to Saving Money in Various ways . Your Strategy is absolutely Phenomenal , I wish there were more Woman like You.