thank you so much for breaking it down for me! i have a project do all about ira in my algebra hon. class and i've been searching the web for the last hour only to find complicated definitions, i feel like my head is about to exploude!!!!
Wow THANK YOU! I have been looking for a simple explanation as I just started investing and making a retirement plan. This was SO beyond helpful and SIMPLE!
I'm a Mortgage Banker with a FSB (Federal Savings Bank). If anyone has any questions you call me direct 917-620-8805 Vince. I'm licensed in all fifty states. Feel free to call me anytime, and I will give you a free consultation. New purchases, we use FHA (Federal Housing Authority) only 3.5% down needed. Re-financing a home? Interest rates are @ a 60 year low. Good Luck =)
@TumisHumis it's all about personal preference and how you feel about the economy and the market. 70/30 is a good balance of aggressiveness and growth. If I were more bullish on the market, I might suggest more stocks, but in this economy, I think you're good.
Would I be able to max out my IRA if i've made less than the ammout (This Year)? I've only made $3,200 after taxes this year, but i've saved quite a bit more than that from the previous years. (I'm 18)
@TumisHumis Unfortunately, you can only put as much money into your Roth IRA this year as you have earned in income. If you want to add more than $3,200, you'll have to work more.
@MrThousandaire Talked to an advisor, he said to start with 1k (Minimum) and add as i feel comfortable. We decided i'd go with a pretty risky mutual funds (70% or so in stock, 30% in bonds.) I'm pretty happy with it, college/car paid for, I basically was collecting dust with the money. Do you think I should've been more risky with the first deposit? We spoke about 90% stocks and i decided against it. (No experience whatsoever)
I just inherited some money, and actually had planned to invest in small businesses. After you so clearly explained the Roth IRA I decided to put a large chunk in it instead. Thanks A lot Kevin, you helped me set up my retirement and this is more of a sure thing.
Incorrect statement ! @ 7:29 For a Roth IRA you cannot simply withdraw anytime without incurring penalty taxes . You need to be over 59 1/2 to not pay any taxes !
Unless of course you get disabled / die or need it for home. But to say you can withdraw contributions at ANYTIME with no penalties/taxes is incorrect
@pranil999 google "roth ira contribution withdrawal" and read the first link that pops up. Trust me, I know what I'm talking about here. You can withdraw CONTRIBUTIONS at any time without penalty.
@pranil999 You're fully able to withdraw and deposit you put in, when you start trying to fuck with the intrest you earned, that's when you get hit with penalties.
This video is awesome. I think a lot of people glaze over when financial issues such as IRAs are being explained. This was fun, educational and totally understandable. Thanks.
This video is awesome. I think a lot of people glaze over when financial issues such as IRAs are being explained. This was fun, educational and totally understandable. Thanks.
when you say investing your money to that left corner of the box does that mean a guarantee of having interest? or it's like a gamble? you put in your money and there might be a posibility you end up zero?
@ishanjohan it depends on what you invest in. If you invest in a savings account at an FDIC insured bank, it is guaranteed, but you'll only get about 1% or less per year. If you invest in the stock market, you could make a lot more, but you could also lose all of it.
Thanks for the great video man!
mfdlt85 1 week ago
great job! learned a lot very fast!
bigmacsa 2 weeks ago
thank you so much for breaking it down for me! i have a project do all about ira in my algebra hon. class and i've been searching the web for the last hour only to find complicated definitions, i feel like my head is about to exploude!!!!
margaritocolocho 3 weeks ago
Very easy to understand. Great job!
fbarrios573 3 weeks ago
Wow THANK YOU! I have been looking for a simple explanation as I just started investing and making a retirement plan. This was SO beyond helpful and SIMPLE!
MrsTuccolo 1 month ago
LOVE THIS!!!!!!
SpoofedTVadmin 1 month ago
This has been flagged as spam show
I'm a Mortgage Banker with a FSB (Federal Savings Bank). If anyone has any questions you call me direct 917-620-8805 Vince. I'm licensed in all fifty states. Feel free to call me anytime, and I will give you a free consultation. New purchases, we use FHA (Federal Housing Authority) only 3.5% down needed. Re-financing a home? Interest rates are @ a 60 year low. Good Luck =)
vmucci729 2 months ago
The best 8 minutes I've spent today... Great job man!
chandannaik 4 months ago
sweet video kevin . i love investing , and that was entertaining
aquahaulic96 5 months ago
Well I'll be, a video that discusses financial information without using jargon to describe jargon. Well done sir.
pandnh4 6 months ago
@TumisHumis it's all about personal preference and how you feel about the economy and the market. 70/30 is a good balance of aggressiveness and growth. If I were more bullish on the market, I might suggest more stocks, but in this economy, I think you're good.
MrThousandaire 6 months ago
Would I be able to max out my IRA if i've made less than the ammout (This Year)? I've only made $3,200 after taxes this year, but i've saved quite a bit more than that from the previous years. (I'm 18)
TumisHumis 6 months ago
@TumisHumis Unfortunately, you can only put as much money into your Roth IRA this year as you have earned in income. If you want to add more than $3,200, you'll have to work more.
MrThousandaire 6 months ago
@MrThousandaire Talked to an advisor, he said to start with 1k (Minimum) and add as i feel comfortable. We decided i'd go with a pretty risky mutual funds (70% or so in stock, 30% in bonds.) I'm pretty happy with it, college/car paid for, I basically was collecting dust with the money. Do you think I should've been more risky with the first deposit? We spoke about 90% stocks and i decided against it. (No experience whatsoever)
TumisHumis 6 months ago
Thank you for explaining it in an easy way!!! So many people make it so complicated
axc12040 6 months ago
good shit brah
95thousandroses 7 months ago
I just inherited some money, and actually had planned to invest in small businesses. After you so clearly explained the Roth IRA I decided to put a large chunk in it instead. Thanks A lot Kevin, you helped me set up my retirement and this is more of a sure thing.
jmarvilus 8 months ago
What will 1 million dollars buy you in 35 years if inflation goes the way it is?
Jnoche 9 months ago
SIR! I am subscribing! You made it really clear! thank you.
ERAP1st 9 months ago
Irish Republican Army
gareire 9 months ago
Incorrect statement ! @ 7:29 For a Roth IRA you cannot simply withdraw anytime without incurring penalty taxes . You need to be over 59 1/2 to not pay any taxes !
Unless of course you get disabled / die or need it for home. But to say you can withdraw contributions at ANYTIME with no penalties/taxes is incorrect
pranil999 10 months ago
@pranil999 google "roth ira contribution withdrawal" and read the first link that pops up. Trust me, I know what I'm talking about here. You can withdraw CONTRIBUTIONS at any time without penalty.
MrThousandaire 10 months ago
@pranil999 You're fully able to withdraw and deposit you put in, when you start trying to fuck with the intrest you earned, that's when you get hit with penalties.
TumisHumis 6 months ago
This has been flagged as spam show
This video is awesome. I think a lot of people glaze over when financial issues such as IRAs are being explained. This was fun, educational and totally understandable. Thanks.
olirom54 10 months ago
This video is awesome. I think a lot of people glaze over when financial issues such as IRAs are being explained. This was fun, educational and totally understandable. Thanks.
olirom54 10 months ago
so it seems that roth IRS is good. what is now the disadvantage?
sphiney 10 months ago
Your my go to guy from now on to understand any financial mambo jumbo. Thanks Kevin!
speedyralph 11 months ago
@speedyralph No problem. Let me know something else you don't understand and I can make a video on that too
MrThousandaire 11 months ago
Fun AND educational. Score! :)
RevelingInReverie 11 months ago
when you say investing your money to that left corner of the box does that mean a guarantee of having interest? or it's like a gamble? you put in your money and there might be a posibility you end up zero?
ishanjohan 11 months ago
@ishanjohan it depends on what you invest in. If you invest in a savings account at an FDIC insured bank, it is guaranteed, but you'll only get about 1% or less per year. If you invest in the stock market, you could make a lot more, but you could also lose all of it.
MrThousandaire 11 months ago
Why can't anyone else in the entire world describe finances like you!?
nofukang 1 year ago
Awesome video man! I have to do a presentation on this topic in my finances class and I learned a ton from this quick video. Thanks a lot!
You the man!
MrBdhede 1 year ago
great video. Thanks!
brokenbaja 1 year ago
I got to tell you i graduated last year with 3 three degrees, but none of my business professors explained it so clearly like this. well done.
RepresentNYC 1 year ago
wow this was actually really helpful thanks. I think all financial advisers should explain things like this.
010neji 1 year ago
Kevin hilarious and great review of some simple retirement plans. Thumbs up.
yesiamcheap 1 year ago