Investing for retirement is an integral part of building your financial future. Whether that means saving up or investing through a …
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Investing for retirement is an integral part of building your financial future. Whether that means saving up or investing through a …
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28 comments
My boys teach Brazilian jiu jitsu, mow lawns and clean neighbors’ yards. I opened a custodial Roth IRA for them and put their earnings into it. They understand the power of investing, savings and deferred gratification at a very young age. They will thank me when they are 59.5
This stuff is so confusing
Both is the only answer
Thank you. As an adult man, this video has been very informative!
I do 8% traditional 401k and 2% roth
Just do both 🤣🤣🤣🤣🤣
Video makes no sense. You should compare Roth 401K to Traditional 401K and then Roth IRA to Traditional IRA
Do both
get your match from employer, then max out roth ira, then consider putting more into 401K or a taxable brokerage.
Diversify.
401k for its employee match and higher contributions.
Roth IRA for its tax free withdrawals
Realestate because the equity of your home will always go up.
Anyone else here because they wanna make sure youtube doesn't think ur a kid?
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I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
I’m 21 and plan on graduating Nursing School in 2 years with an ADN at 23. I live in a lower COL area of California (still high COL State) so my starting pay will be about 60/hr at 23. I plan on opening both and taking advantage of my early start to get compounding interest on my side with a high earning job funding a lot of these investments and not really a family yet to worry about many expenses.
I’m 53yrs never had a 401k, wondering if there is any point setting up one at this point.
The only time I’d ever keep a 401(k) where it is is if I’m using the rule of 55. Otherwise, it should be rolled over into an IRA. This way, you won’t forget about it several years or decades later when it’s time to retire plus an IRA has lower fees and better investment options.
A Roth IRA is a smart investment choice since it’s funded with after-tax dollars, enabling your contributions to grow tax-free. When you retire and begin making withdrawals, you won’t have to pay taxes, allowing you to keep more of your savings. Personally, I retired with $5 million.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Thank you needwallet for teaching me the differences between a Roth IRA and a 401k this was very helpful,very knowledgeable and financially substantial.
Bullish or bearish, AI stocks will still dominate 2025, even beyond. Why I prefer NVIDIA is that they are better placed to maintain long-term growth potential, and provide a platform for other AI companies. I know someone who has made more than 200% from NVIDIA. I'll also take these other recommendations you made.
Best strategy for me is contributing to both depending on my budget. Firstly i was able to contribute enough for my 401(K) to match full employer, then ROTH IRA for tax diversification. Here to be educated more.
Question from a dummy: if you invest in 401k, when you leave that workplace does that also affect it? Please educate me.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
I ended only doing a Roth 401k. My employer has a 4% match and the options I have in my 401k are great with low fees.
Thank you for the informative video! (BTW, Elana, you have beautiful eyes and I LOVE your beauty mark on your cheek!!)
This year I opened an ROTH IRA and put the maximum amount possible. I feel foolish for letting my life fall into order so slowly. The issue at hand is how to invest the funds most profitably in order to save for retirement.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.