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.
I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Biggest financial mistake I ever made was with my 401k. My company had a Roth 401k when my kids were in college, but I didn't actually start contributing until year 3 of the 6 years I had kids in college. Because I was helping them with expenses, I was entitled to the tax credits, so my effective tax rate was extremely low. That is the time you NEED to be in a roth! i still retired with about $350k in my 401k.
People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
But that doesn’t come without risk. For the love of the lord, please seek professional counseling and look into the risks 😢 no worthwhile investment is risk free and if it is, then it isn’t a worthwhile investment.
Just but vti or voo and on a long enough time horizon youre good Or if you want dividends you can buy jepi or schd(or others) Right now i dollar cost avg into schd jepi and vti, all efs which are super safe(unless the usa collapses) Its pretty safe just be really careful buying individual stocks because that can end badly (or fantastically) Just tryna give advice, im a normal dude so take this with a grain of salt and learn as much as you can
I have a very good income and contributing max to 401k and putting in my wife's roth IRA. I have so much cash on side lines until I can figure this out. I am 53 and needs to to make all this cash work for me so I can retire tomorrow.
Increasing tax rates are the reason I rolled over my 401k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account.
I’ve heard a lot about this. Thank you so much for going over it. I've been told to start a solo 401k with my business. Then convert it over into my Roth IRA. Seems very confusing. Do I pay taxes on the money the year I convert? How does this work exactly?
Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement.
Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual investment account or employing the services of a retirement planner/investment advisor.
Really? Have you searched? Use any investor/advisor tool. Look for monicamary Strigle I am close to retirement with 1.4 M to my name outside of retirement accounts. I hired her services 3 years ago, she contributed immensely to my portfolio progress.
*huge tip* the last one she said: A Target Based Investing Fund is the one MOST people do. It’s extremely easy. If you use Schwab or Fidelity, or whatever, it usually says ya know “2050” meaning you are shooting to retire in 2050 and it will invest your money FOR YOU
How much would you say is the best amount to invest in a Target Based Investing Fund? Do you put all your contributions in there or just a specific amount? I’m new to this and no idea how to go about things. TIA
There is also no earned income requirement to convert to a Roth. As long as you have a balance in an IRA, in theory, you can keep converting to a Roth as long as you like. But how best can i compound at least $2m in retirement savings without holding cash?
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions in such as retirement planning
Agreed, It's really challenging to create a strong retirement portfolio, so I always preach about the importance of having an advisor.This helped me stay afloat and improve my portfolio 0f $450k by 40% in 5 years.They have strategies that are specifically suited to your long-term objectives and financial aspirations.
This convo makes me realize how important it is to monitor the financial health of retirement plans and fund and also understand how they're invested. It's not something to be taken lightly. Please who is the advisor that guides you?
I personally have my portfolio overseen by California-based wealth advisor and fixed income strategist at that 'Monica Selena Park'..She's well established and you'd find her professional bio on the net If you look her up, i'd suggest you do this and let me know what you think
Thank you for sharing, I must say, Monica appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
@@carter3294 I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@Bill Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "NICOLE DESIREE SIMON" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
I'm left struck with thousands of dollars disappearing from my 401k due to soaring inflation. Where can I safeguard and grow $500k cash for the next 2 years with minimal risk? my goal is to retire early and afford my lifestyle after retirement.
, there are strategies that could be put in place for solid gains regardless of economy or markt condition, but such executions are usually carried out by investment experts or advisors with experience since the 08' crash
@@M.Morgan Agreed, I've always delegated my excesses to a professional, ever since suffering major portfolio steep-down amid rona-outbreak in late 2019. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week.
@@heatherholdings 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?
@Castro-worldbravest > I really don't like making such recommendations, because everybody's situation is unique but I have been working with “Theresa Leigh Detrick” for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
YES!!! That’s exactly her name (PATRICIA VESELY) so many people have recommended highly about her and am just starting with her from Brisbane Australia 🇦🇺
Such a genuine personality!!, Sincerely speaking. I will continue to trade and stick to Patricia Vesely’s daily signals and guides as long as it works well for me.
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
The decision on when to pick an Adviser is a very personal one. I take guidance from “Gertrude Margaret Quinto” to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Some inconsistent choices to invest into. - VOO (S&P 500 from Vanguard) - FNILX (Large cap from Fidelity) - SWTSX (Total USA from Schwab) You could just tell a cluueless friend VTI, SCHB, or ITOT.
I m so glad I searched this. I have maxed out already on my roth ira and it never grew so I searched it and your video comes up. Thanks for sharing that. But what happens if the index funds go down?
If the index fund goes down, then you lose money. The good news is most popular index funds have historically always earned money over the long term. Not a guarantee they won't in the future though, but those are better odds than a savings account with inflation.
Well, you're betting that the US doesn't collapse basically. As long as it doesn't the markets should be fine, and you should be good for the future. And if it does collapse, I don't think cash reserves would be much better
I’m 60 and want to retire in 6 months. I have a $170K savings plus a 401k depleted to $200K of money that I’m not sure what I can do with at this point. My retirement plans seem to be out the window. Is it a good idea to get professional help?
With everything going on, , consider financial planning, that is okay. You can get your money to work for you. but I would say delay retirement a little
And what if that is all you have, even with SS you may not have enough to retire with. If you opt to work with a financial adviser, make sure they are certified from AARP or FINRA.
It's a good idea to look for a fiduciary who has a legal obligation to work in your best interest and can’t recommend products or services just because they’ll receive a financial kickback for doing so. I and my spouse work with a retirement planner, Monica Mary Strigle we met in NY, learnt about Monica from Danielle Dimartino Booth in an interview.
Under guidance, we split our investments, traditional IRA and the individual brokerage account where she copies her moves on our account from her master. We have been up by 74% precisely in the past year She rebalanced again when the year began, we still hold cash and are cautious with how much we let into the market at this point.
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
@AlexanderWebber 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?
A great way to improve your financial savvy, listen to audio books. Rich Dad Poor Dad. How the stock market works. And all the other no 1 best sellers.
I’ve put into a global index fund and I’m literally not going to look at it until it’s time to take money out. I can’t stress about market fluctuation.
I forgot I even set mine up and didn’t know much about a Roth IRA so I didn’t know I had to allocate it. Had it for about 2 years until I realized I really needed the money (thank god for seeing my companies letter in the mail). I’ll take the 10% percent penalty. But now I have a way better understanding of the account and will invest wisely 😊 Just opened up another one with Fidelity 👍 which will be my primary going forward
OMG thank you sooooo much for this information. I just started my Roth IRA today with automatic deductions from my savings. I’ve been thinking about VTI or V00 as a separate investment. Thanks again.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying t0 grow my portfolio of $160K for sometime now, my major challenge is not knowing the best entry and exit strategies, I would greatly appreciate any suggestions.
The market is volatile at this time, hence I will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@lailacraig1545Having a coach is key to portfolio diversification, My advisor is "Patricia Grace Ellis" You can easily look her up on the internet, she has years of financial market experience.
@@gabrielaevita6058 I just looked up Patricia Grace Ellis online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.. Thank you.
For the beginners that don't know how to start roth IRA. Just create a robinhood account, open a roth IRA, fund account (get 3% match for every dollar). Set up a recurring investment plan. Let them auto withdraw, and auto invest for you. You still have time to max out year of 2023 ($6.5k) and 2024($7k) until April.
bruh i was so baffled when i noticed my roth ira wasn’t growing when i opened it at 19 and although i realized a year or two later to actually buy funds, i was only getting dividend stocks. now at 23 i’m just starting to invest into an actual RETIREMENT FUND THAT I NEED A MINIMUM 1k-3k INVESTMENT FOR BYEEE 😭😭 i think i knew to buy a retirement fund but i didn’t have the 1k to buy a vanguard retirement fund and just completed forgot about it. sucks that i could’ve already had a good chunk of growth by now /: i wish financial gurus actually emphasized to BUY THE FUND AFTER CONTRIBUTING TO THE ROTH IRA rather than just fuckin contributing making us think that’s how we start to grow because we can’t take the money out after that and i was totally misled. it’s not like these accounts tell you what to do after opening them either.
I agree with you on that. These fucking wanna be gurus only stop at telling you to get an IRA, max out and wait to retire. Never hear anyone go into depth about investing.
I have both. I don’t contribute to both in the same year. Your accountant and/or tax advisor can make sure you contribute optimally for your situation. You don’t want to over-contribute and end up having to take the money back out and pay a penalty/taxes.
As a Portfolio manager, don’t always look for your commissions or money. It is your responsibility to guide your client and help him choose the best investment plan.
I'm glad someone got to say this...Most of these managers only interested in their commissions not caring if these investments are convenient for the client.😒😒
Please remember to tell people that Roth IRAs contributed to AFTER tax. The tax "advantage" is only if you feel that tax rates will increase over time.
I m confused. Im kind of new in the country trying to set up my retirement plan so I thought opening and having an Ira means the institution where I opened up it is going to invest automatically :( and this video said is not like that :(
I've maxed out my contributions for my 401k and my HSA. I recently opened a Roth IRA with a small amount to start. I plan to fund it with the full amount. My question to you is, do I need to have the full amount in the account first or can I start with a small amount then contribute more as I go?
I had a coworker, who put 25% in to his 401k every week, it was sitting in his money market account. He mention to me he was doing this to me. I said, what the h* ll are you doing?You have to picks funds to put it in. You will be surprised how many people do this, he was doing it for years!,
I love Vivian and I hope younger people will heed her. I'm older, sick and unable to any of this now. Don't let that happen to you with such a wonderful resource at your hands. 💕💖💕
Can someone help? Do I make the account, and then just put the money from the account into some stocks using a trading app, or is there some special way of investing with that, and if I sell stocks do I also put it back into the Roth ira?
You can open a trading account with TD Ameritrade/Charles Schwab or Fidelity and within the platform you can open an IRA deposit money into it and from there trade on those ETF’s she mentioned.
@@omgfreddy698 To start taxes wise you don’t pay 30% on stocks you sell as you will if you trade direct on a personal account platform than if you within that platform trade from your IRA.
@@omgfreddy698 The main difference is tht Roth IRA is for retirement. So there's rules on how much you can contribute, when you can take money out but the growth/profit is tax free. If you have a regular brokerage account that's not a ROTH IRA, you can buy and sell whenever, but you pay taxes on the profit you make from selling those stocks. IRA = individual retirement account. Think of the accounts as different wallets your money is going into, but then from there you use the money to invest however. Because it's all money. It's just that depending on what wallet that money came from, it determines what you can do with it and what taxes are charged etc
Im so lost and new to investing! Where do I start? I every time I watch a video about it I get overwhelmed with all the words they use and I have no idea what they mean. I have money in a Roth IRA but it’s just sitting there. Is she saying to use that money in there and invest it???
Exactly, I was just like you up until covid hit and I had nothing but time on my hands to learn.. the money that you have been contributing to your Roth is sitting in a core account within the Roth you have to actually go in and select trade to purchase stocks, index funds bonds etc. You can also do automated investments into a certain fund, stock etc.. easy to set up recurring investments. I've learned the best investment to start out with is the s&p 500 or a target date fund and do dollar cost averaging(same amount every week,bi week, or monthly).
@@kevaleva I am trying to rebuild my retirement and invest aggressively for me to be able to retire what would you recommend for someone having to start over
Wait so can you add in money in a monthly basis to a ROTH IRA account and invest let’s say in the same types of index funds everytime? So you reinvest in the same index fund multiple times? I’m still very confused about how this all works 😭
Yes, first you deposit money into the account. Then you choose which funds you’d like to buy. Some accounts let you automate this process. Most people have other people manage it for them, whether that’s through work or a financial advisor.
You lost me on part 4. That’s too much risk for me personally. My dumb ass would forget to make the payment or I’d spend more than I can actually pay back. No, step 4 is too much responsibility for me.
Still confused, can you please go over the invest vs contribution? So if I open a roth irs and add money to it for "retirement " is that the contribution part? I never knew about the invest after you add money to an ira, still all new to this. I'm 35 and would like to start . Does same rule still apply, being that you can only put up to $6000 in a year cycle for ira?
Find out if the company you used uses robots to automatically buy stocks for you. You usually have to pay a small fee for this. If not, then you have to manually go in and purchase each stock from the $6000 you put in. It will probably say "buying power" somewhere with a number. That's the amount you need to spend from your account in order to invest. So if you transferred $6,000, you have $6,000 buying power. Now you have to select where you want that money to go. If you don't, it will just sit there.
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.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
Biggest financial mistake I ever made was with my 401k. My company had a Roth 401k when my kids were in college, but I didn't actually start contributing until year 3 of the 6 years I had kids in college. Because I was helping them with expenses, I was entitled to the tax credits, so my effective tax rate was extremely low. That is the time you NEED to be in a roth! i still retired with about $350k in my 401k.
People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Fantastic! That sounds wonderful. How can I get in touch with your financial supervisor?
Sonya lee Mitchell is the manager I use. Just research the name. You'd find necessary details to set up an appointment.
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Literally, NO ONE has ever told me this!! THANK YOU!!!
But that doesn’t come without risk. For the love of the lord, please seek professional counseling and look into the risks 😢 no worthwhile investment is risk free and if it is, then it isn’t a worthwhile investment.
Just but vti or voo and on a long enough time horizon youre good
Or if you want dividends you can buy jepi or schd(or others)
Right now i dollar cost avg into schd jepi and vti, all efs which are super safe(unless the usa collapses)
Its pretty safe just be really careful buying individual stocks because that can end badly (or fantastically)
Just tryna give advice, im a normal dude so take this with a grain of salt and learn as much as you can
😂 they taught this in one math lesson each school year, but you weren’t listening.
@@serialliker. Where do you live? They def weren't teaching this in my math classes.
Wow . Did you need someone to tell you you need to stop when the light turns red
I have a very good income and contributing max to 401k and putting in my wife's roth IRA. I have so much cash on side lines until I can figure this out. I am 53 and needs to to make all this cash work for me so I can retire tomorrow.
You can put your excess cash in a 5% HYSA or work with a financial advisor to create a good portfolio that can average 20% annually for you.
Increasing tax rates are the reason I rolled over my 401k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account.
I’ve heard a lot about this. Thank you so much for going over it. I've been told to start a solo 401k with my business. Then convert it over into my Roth IRA. Seems very confusing. Do I pay taxes on the money the year I convert? How does this work exactly?
Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement.
Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual investment account or employing the services of a retirement planner/investment advisor.
I have thought about this, but haven't figured out how to get consultation, I don’t live in a big city.
Really? Have you searched? Use any investor/advisor tool. Look for monicamary Strigle I am close to retirement with 1.4 M to my name outside of retirement accounts. I hired her services 3 years ago, she contributed immensely to my portfolio progress.
*huge tip* the last one she said: A Target Based Investing Fund is the one MOST people do. It’s extremely easy. If you use Schwab or Fidelity, or whatever, it usually says ya know “2050” meaning you are shooting to retire in 2050 and it will invest your money FOR YOU
How much would you say is the best amount to invest in a Target Based Investing Fund? Do you put all your contributions in there or just a specific amount? I’m new to this and no idea how to go about things. TIA
There is also no earned income requirement to convert to a Roth. As long as you have a balance in an IRA, in theory, you can keep converting to a Roth as long as you like. But how best can i compound at least $2m in retirement savings without holding cash?
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions in such as retirement planning
Agreed, It's really challenging to create a strong retirement portfolio, so I always preach about the importance of having an advisor.This helped me stay afloat and improve my portfolio 0f $450k by 40% in 5 years.They have strategies that are specifically suited to your long-term objectives and financial aspirations.
This convo makes me realize how important it is to monitor the financial health of retirement plans and fund and also understand how they're invested. It's not something to be taken lightly. Please who is the advisor that guides you?
I personally have my portfolio overseen by California-based wealth advisor and fixed income strategist at that 'Monica Selena Park'..She's well established and you'd find her professional bio on the net If you look her up, i'd suggest you do this and let me know what you think
Thank you for sharing, I must say, Monica appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
@@carter3294 I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@Bill Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "NICOLE DESIREE SIMON" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
I'm left struck with thousands of dollars disappearing from my 401k due to soaring inflation. Where can I safeguard and grow $500k cash for the next 2 years with minimal risk? my goal is to retire early and afford my lifestyle after retirement.
, there are strategies that could be put in place for solid gains regardless of economy or markt condition, but such executions are usually carried out by investment experts or advisors with experience since the 08' crash
@@M.Morgan Agreed, I've always delegated my excesses to a professional, ever since suffering major portfolio steep-down amid rona-outbreak in late 2019. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week.
@@heatherholdings 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?
@Castro-worldbravest > I really don't like making such recommendations, because everybody's situation is unique but I have been working with “Theresa Leigh Detrick” for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
Buy a gold ira
I’m favoured financially, Thank you Jesus $34,000 weekly profit regardless of how bad it gets on the economy
Same here, with my current portfolio made from my investments with my personal financial advisor ‹Patricia Vesely> i totally agree with you
Wow! Kind of in shock you mentioned expert, Patricia Vesely. What a coincidence!!
YES!!! That’s exactly her name (PATRICIA VESELY) so many people have recommended highly about her and am just starting with her from Brisbane Australia 🇦🇺
I have heard a lot of wonderful things about Patricia on the news but didn’t believe it until now. I’m definitely trying her out
Such a genuine personality!!, Sincerely speaking. I will continue to trade and stick to Patricia Vesely’s daily signals and guides as long as it works well for me.
And here I was thinking that the money magically grew by itself.....thanks for the info
NO WAYY 😂😂 i wishhh free money like that? Ezzz
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
*@shirleygarland4766* That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
The decision on when to pick an Adviser is a very personal one. I take guidance from “Gertrude Margaret Quinto” to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
Wish I had understood to put my money in a Roth IRA. Taxes are higher now that when I was investing in a regular IRA before I retired.
Some inconsistent choices to invest into.
- VOO (S&P 500 from Vanguard)
- FNILX (Large cap from Fidelity)
- SWTSX (Total USA from Schwab)
You could just tell a cluueless friend VTI, SCHB, or ITOT.
I had $500 sitting like this for a year. Yall!!! 😭
Could’ve doubled by now, is never too late🤞🏾
Ok but at least you didn't find out 10 years from now... 😅
Bro I had 15k sitting there
I m so glad I searched this. I have maxed out already on my roth ira and it never grew so I searched it and your video comes up. Thanks for sharing that. But what happens if the index funds go down?
Then it goes down but overall performance you should see 10% at least in annual performance so just keep it in there for 5+ years you should be good.
If the index fund goes down, then you lose money. The good news is most popular index funds have historically always earned money over the long term. Not a guarantee they won't in the future though, but those are better odds than a savings account with inflation.
Well, you're betting that the US doesn't collapse basically. As long as it doesn't the markets should be fine, and you should be good for the future. And if it does collapse, I don't think cash reserves would be much better
@@erseshe💀
I’m 60 and want to retire in 6 months. I have a $170K savings plus a 401k depleted to $200K of money that I’m not sure what I can do with at this point. My retirement plans seem to be out the window. Is it a good idea to get professional help?
With everything going on, , consider financial planning, that is okay. You can get your money to work for you. but I would say delay retirement a little
I have heard how they can help you make the best decisions and to be honest I don’t want to lose anymore money or I will have to work till I die.
And what if that is all you have, even with SS you may not have enough to retire with. If you opt to work with a financial adviser, make sure they are certified from AARP or FINRA.
It's a good idea to look for a fiduciary who has a legal obligation to work in your best interest and can’t recommend products or services just because they’ll receive a financial kickback for doing so. I and my spouse work with a retirement planner, Monica Mary Strigle we met in NY, learnt about Monica from Danielle Dimartino Booth in an interview.
Under guidance, we split our investments, traditional IRA and the individual brokerage account where she copies her moves on our account from her master. We have been up by 74% precisely in the past year She rebalanced again when the year began, we still hold cash and are cautious with how much we let into the market at this point.
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
@AlexanderWebber 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?
@AlexanderWebber I just checked her out and I have sent her an email. I hope she gets back to me soon.
SCAM ALERT
A great way to improve your financial savvy, listen to audio books.
Rich Dad Poor Dad.
How the stock market works.
And all the other no 1 best sellers.
I’ve put into a global index fund and I’m literally not going to look at it until it’s time to take money out. I can’t stress about market fluctuation.
I forgot I even set mine up and didn’t know much about a Roth IRA so I didn’t know I had to allocate it.
Had it for about 2 years until I realized I really needed the money (thank god for seeing my companies letter in the mail).
I’ll take the 10% percent penalty.
But now I have a way better understanding of the account and will invest wisely 😊
Just opened up another one with Fidelity 👍 which will be my primary going forward
Can u tell me more about the 10%tax penalty? I recently took my money out but i had no idea i needed to pay 10% of it to tax
@@Mo-nd8lpYou shouldn't need to if you only take out what you put in (the principal). Because you already paid the taxes when you put the money in.
OMG thank you sooooo much for this information. I just started my Roth IRA today with automatic deductions from my savings. I’ve been thinking about VTI or V00 as a separate investment. Thanks again.
How do I set up a Roth IRA account.
VTSAX ,VFIAX and Target 2050 is what i have in my Roth
I had NO idea. Thank you! I’m going to my computer to fix mine.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying t0 grow my portfolio of $160K for sometime now, my major challenge is not knowing the best entry and exit strategies, I would greatly appreciate any suggestions.
The market is volatile at this time, hence I will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@lailacraig1545Having a coach is key to portfolio diversification, My advisor is "Patricia Grace Ellis" You can easily look her up on the internet, she has years of financial market experience.
@@gabrielaevita6058 I just looked up Patricia Grace Ellis online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals..
Thank you.
Whole Interaction reads scam
I never knew this!!!! Thank you so much
Thanks BFF!
just turned 30 and will take this as a friendly reminder that my sexy thirties also means glaming up my finnancial life.❤😊
OMG your video is ssssooooo helpful big thanks!
Thank you!
For the beginners that don't know how to start roth IRA. Just create a robinhood account, open a roth IRA, fund account (get 3% match for every dollar). Set up a recurring investment plan. Let them auto withdraw, and auto invest for you. You still have time to max out year of 2023 ($6.5k) and 2024($7k) until April.
bruh i was so baffled when i noticed my roth ira wasn’t growing when i opened it at 19 and although i realized a year or two later to actually buy funds, i was only getting dividend stocks. now at 23 i’m just starting to invest into an actual RETIREMENT FUND THAT I NEED A MINIMUM 1k-3k INVESTMENT FOR BYEEE 😭😭 i think i knew to buy a retirement fund but i didn’t have the 1k to buy a vanguard retirement fund and just completed forgot about it. sucks that i could’ve already had a good chunk of growth by now /: i wish financial gurus actually emphasized to BUY THE FUND AFTER CONTRIBUTING TO THE ROTH IRA rather than just fuckin contributing making us think that’s how we start to grow because we can’t take the money out after that and i was totally misled. it’s not like these accounts tell you what to do after opening them either.
I agree with you on that. These fucking wanna be gurus only stop at telling you to get an IRA, max out and wait to retire. Never hear anyone go into depth about investing.
Just moved my investments around some, put more into index while taking some out of stocks
I just got your book yesterday and started reading it last night!! I am so excited for this ride!!!
Hi! I have a 401k do you suggest a ROTH also??
I have both. I don’t contribute to both in the same year. Your accountant and/or tax advisor can make sure you contribute optimally for your situation. You don’t want to over-contribute and end up having to take the money back out and pay a penalty/taxes.
Thank you for this this is what my financial advisor was trying to explain to me the other day, but I just could not understand it
Me learning this about my Canadian TFSA a while ago. Luckily I don’t live in Canada and haven’t used it in years because I’d be losing so much money.
Hey gurl, you Rock!
As a Portfolio manager, don’t always look for your commissions or money. It is your responsibility to guide your client and help him choose the best investment plan.
I'm glad someone got to say this...Most of these managers only interested in their commissions not caring if these investments are convenient for the client.😒😒
@@user-qg7sc2ly3gI'm glad you totally get this.
Please explain how to independently set on up.
Just call Vanguard or Fidelity. Then read the book "Investing for Dummies"
Or bogleheads guide to investing
Please remember to tell people that Roth IRAs contributed to AFTER tax. The tax "advantage" is only if you feel that tax rates will increase over time.
My only question is, why is the Roth IRA account necessary? Why not just invest money that’s in a savings account into the same thing?
Dope
Ooops🙁🤷🏿♀️
I contribute into my Roth IRA, it pulls from my account automatically....how does someone invest into it?
More like Vivian is a bad ass and she’s teaching me what they didn’t in school!!!
I m confused. Im kind of new in the country trying to set up my retirement plan so I thought opening and having an Ira means the institution where I opened up it is going to invest automatically :( and this video said is not like that :(
Not always. Where did you open yours?
An idiot investor did that to me. My money only grew a few centss after a year. Thanks Vivian.
WOW
😂😂😂
Same here except I was the idiot investor 🥴😩😮💨
I made this mistake for 5 years
Do I call fidelity to do this? I pt 250 to300 a month in company it's I didn't know I cud invest it in stocks & mutual funds
Neither did I
Coughs in Ramit Sethi
Buy 10 of TQQQ 1 year stock options long position you'll be on your way to 1/2 million by years end
Whats so special about it..has alot of the same companies as the s&p
But can i loose my money by investing vs just leaving it in a cd account?
Does this actually happen? People put money into the account without investing?
Ive lost money in mine ughhhh
I did not know this and I’m ashamed to say how old I am. I know now. 😊
I've maxed out my contributions for my 401k and my HSA.
I recently opened a Roth IRA with a small amount to start. I plan to fund it with the full amount.
My question to you is, do I need to have the full amount in the account first or can I start with a small amount then contribute more as I go?
I use Acorns Later Roth IRA. Does it automatically invest my contributions or no?
Yes, it does.
Which cryptos can you put your ROTH money into? Hex, Pulsechain? Eth? Chainlink? Doge?
please do not invest in a target date fund. they are terrible
Hi bestie. Can you discuss about REITs. A cousin of mine keeps pushing me to invest on those.He now sounds like a pushy MLM guru. Haha, sorry....
I had a coworker, who put 25% in to his 401k every week, it was sitting in his money market account. He mention to me he was doing this to me. I said, what the h* ll are you doing?You have to picks funds to put it in. You will be surprised how many people do this, he was doing it for years!,
So it doesn’t automatically invest it for you? That wack
I didn’t know this! Thank you!!
You say investment times which you don't say what's wants to invest in A lot of people lose money. Remember two thousand a week 2008
Thank you for sharing your knowledge
How do I even do this do I like talk to a bank or something
Thank you for educating me on the Roth IRA however what do you know about the Roth 401k
I love Vivian and I hope younger people will heed her. I'm older, sick and unable to any of this now. Don't let that happen to you with such a wonderful resource at your hands. 💕💖💕
You just answered every broke mindstate question i had can i start with 200 and just work with that or is there a minimum
Do the roth i put money in offer investment options or do i have to find my own
If you get a robot advisor it will trade for you. Exp vanguard
i do it through my work and I'm not sure if they're investing for me or what
What!! I didn’t know you had to invest it. Good thing I saw this before I got one
What about TSPs????
Right! Cause if I can roll that over and stop losing money on it I'll be ecstatic 😮
Thanks I would’ve made this mistake!
Can someone help? Do I make the account, and then just put the money from the account into some stocks using a trading app, or is there some special way of investing with that, and if I sell stocks do I also put it back into the Roth ira?
I think it depends on your company. I would call your institution, like Vanguard or Fidelity or whoever you're using.
You can open a trading account with TD Ameritrade/Charles Schwab or Fidelity and within the platform you can open an IRA deposit money into it and from there trade on those ETF’s she mentioned.
@@idaalmonte253 so whats the difference between investing in the market thru a roth ira vs the market thru robinhood?
@@omgfreddy698 To start taxes wise you don’t pay 30% on stocks you sell as you will if you trade direct on a personal account platform than if you within that platform trade from your IRA.
@@omgfreddy698 The main difference is tht Roth IRA is for retirement. So there's rules on how much you can contribute, when you can take money out but the growth/profit is tax free. If you have a regular brokerage account that's not a ROTH IRA, you can buy and sell whenever, but you pay taxes on the profit you make from selling those stocks. IRA = individual retirement account. Think of the accounts as different wallets your money is going into, but then from there you use the money to invest however. Because it's all money. It's just that depending on what wallet that money came from, it determines what you can do with it and what taxes are charged etc
Bff where to get roth ira?
😅😅 This is hilarious
How tf is this not blatantly obvious? I’m confused?
I've been looking for this. Thank you, RichBFF.
Im so lost and new to investing! Where do I start? I every time I watch a video about it I get overwhelmed with all the words they use and I have no idea what they mean. I have money in a Roth IRA but it’s just sitting there. Is she saying to use that money in there and invest it???
Exactly, I was just like you up until covid hit and I had nothing but time on my hands to learn.. the money that you have been contributing to your Roth is sitting in a core account within the Roth you have to actually go in and select trade to purchase stocks, index funds bonds etc. You can also do automated investments into a certain fund, stock etc.. easy to set up recurring investments. I've learned the best investment to start out with is the s&p 500 or a target date fund and do dollar cost averaging(same amount every week,bi week, or monthly).
I have questions I lost everything two years ago and I am just getting back on my feet I need more information
What is your question?
@@kevaleva "how to get a refund"
What do you mean when you say you “lost everything?”
@@kevaleva I am trying to rebuild my retirement and invest aggressively for me to be able to retire what would you recommend for someone having to start over
@@christinajones93 first of all, how did you lose everything?
Wait does this apply to 401k?
It’s not really a tax advantage. You still have to pay taxes, the only different is when you’re paying the taxes
How so? The money is taxed already once you put it in. At retirement its tax free. You can also withdraw contributions anytime tax free.
@@joy2come119 because you’re still paying taxes… you’re just paying taxes now rather than later
But isn't Roth IRA that is invested in the market not fdic insured?
All investments r SIPC insured up to 500000 but they dont insure if you lost money if the stock crashes
Does 529 plans work the same way? Does it need to be invested?
What's a 529 plan?
Yes
Does the same happen for 401k?
Yes. You must allocate where the money gets invested or it is just in “cash” as the default. Same with HSA.
This is the same rando women that told us to put your money in roth ira
Wait so can you add in money in a monthly basis to a ROTH IRA account and invest let’s say in the same types of index funds everytime? So you reinvest in the same index fund multiple times? I’m still very confused about how this all works 😭
Yes, first you deposit money into the account. Then you choose which funds you’d like to buy. Some accounts let you automate this process.
Most people have other people manage it for them, whether that’s through work or a financial advisor.
You lost me on part 4. That’s too much risk for me personally. My dumb ass would forget to make the payment or I’d spend more than I can actually pay back. No, step 4 is too much responsibility for me.
What is step 4?
Seems like someone is impersonating rich bff account @yourrichBFf
Still confused, can you please go over the invest vs contribution? So if I open a roth irs and add money to it for "retirement " is that the contribution part? I never knew about the invest after you add money to an ira, still all new to this. I'm 35 and would like to start . Does same rule still apply, being that you can only put up to $6000 in a year cycle for ira?
Find out if the company you used uses robots to automatically buy stocks for you. You usually have to pay a small fee for this. If not, then you have to manually go in and purchase each stock from the $6000 you put in. It will probably say "buying power" somewhere with a number. That's the amount you need to spend from your account in order to invest. So if you transferred $6,000, you have $6,000 buying power. Now you have to select where you want that money to go. If you don't, it will just sit there.
yes everything you need to know is on UA-cam
somewhere just search it up
👍🏽
Great info! Saving & investing is foundational. I wouldn’t even waste money on faux luxury, but it is a good treat.
Vivian, there are a lot of bots and spam commenters in this comment section.
What are the best Roth IRA???
Can you please do a video on the Wealthfront Roth IRA?
The one I use!
This is an other forex trap😂
Did not know this, thanks.
How