Roth IRA Explained | Tax-Free Investing

Very simple explanation of what is a Roth IRA, how to open one, who can open one and what you can put in it.

At 12:02 I show you guys how powerful the Roth IRA can be with some pretty simple math.

**** This account may be the single most important account for people to open up while young and in HS or in COLLEGE due to compound interest and not paying taxes on that interest.
Please open one up even if you can't hit the 6k maximum contribution.

Rules to contribute:
SSN or ITIN
Max income:
75k yearly income if single
124k yearly income if married
6k maximum contribution per year if your age is less than 50, 7k otherwise.

Here are some helpful links to open up a Roth IRA, the brokerages below are the 3 most popular because of their low expense ratios:
Fidelity: https://www.fidelity.com/retirement-ira/roth-ira
Vanguard: https://investor.vanguard.com/ira/roth-ira
Charles Schwab: https://www.schwab.com/ira/roth-ira
(I do not benefit from the above links, this is purely to help you guys grow your money in a Roth IRA, tax-free)

*** DO NOT WITHDRAW THE PROFITS, you will pay a penalty + tax if you do.

Get started with investing on Robinhood and get a free stock: join.robinhood.com/christg401

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Видео Roth IRA Explained | Tax-Free Investing канала MrVoid