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Posts & Investments - #rothira

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#mortgagerates are collapsing at a 41 year record pace! #housingmarket suggests a major #recession is coming in 2023. Meanwhile #401k and #rothira balances are crashing to newer and newer lows! Are you doing enough to save for #retirement See more
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#RothIRA #PSA The stock market is closed today, but that doesn't mean you can't still fund your own personal Roth IRA. A Roth IRA is a great way to fund your retirement savings in a way that grows tax free and can withdraw tax free after 59.5 years of age. One thing I was surprised to learn along the way was that you can fund the previous year's maximum contribution limit up until Tax Day. So that mSee more
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#InvestingAccounts The previous 3 episodes were focused on important steps to take before investing - budgeting, debt management, and creating an emergency fund. Today's episode finally talks about starting investing and one of the most important things to consider is what kind of investing account or home 🏠 to store your money in. This could be a taxable account or retirement savings account and eSee more
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#RothIRA #retirementgoals How do you invest in your Roth IRA? Lump sum, monthly, or bi-weekly? 2022 is around the corner which means i’m focused on reevaluating 2021 and what I'm going to change going into next year. A Roth IRA is a tax-advantaged retirement account, which allows you to withdraw tax-free when you retire. As opposed to a brokerage account like public... where you can pull out money any time... but you pay a capital gains tax. If your goal for investing is retirement, this should be a no-brainer in your investment strategy. You are only allowed to contribute $6000/year... so if you are able to max out your account, I would highly recommend doing that before you invest in a brokerage account. (**If you are late to Roth IRAs don't worry... You have until your tax deadline (April 15th 2022) to contribute towards your 2021 contributions). There are a couple of different investment strategies within a Roth IRA (or traditional IRA): lump-sum investing: some people contribute all $6000 in January at the start of the year. You risk poorly timing the market but in the long term lump sum usually beats DCA. This also assumes you ain’t broke broke 😭 #struggleisreal monthly: invest $500/month (or however much you can afford). You might be averaging up over time but you have more upside than averaging up every week biweekly/weekly: you never have to worry about timing the market... you might decrease your overall return if a bull market continues and you have to average up, but we can never time the next downturn so buying weekly/biweekly ensures that if the market took a downturn you would get in on discounts. ---------- 2021 was my first year of investing. But since I opened my Roth IRA before my tax deadline... I invested a lump sum of $6000 to max my 2020 contribution. I divided it between index funds and some dividend stocks. I then invested $500/month this year to max out my 2021 contributions. Meanwhile, on public, I bought $50 of $VOO every Friday. My S&P fund in my RothIRA massively outperformed my DCA of $VOO here on public. this is because when you DCA you often average up so you don't earn the actual performance of the fund. not to mention... I joined public a couple of months after opening my retirement account... which also contributed to the lower return. ---------- So my question for today is... in 2022 are you doing a lump sum contribution? are you going to contribute monthly? Or bi-weekly as you get paid? ---------- *disclaimer: if you are in the position where you aren’t able to max out a Roth IRA, know that any contribution helps because you can’t go back in the time and contribute to previous years. progress is progress and that’s okay 🙌🏼

lump sum15.72%
monthly21.57%
bi-weekly or weekly23.95%
i don't have an IRA yet38.76%
547 votes Ended 01/05/22
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💥 Well, here it is, by popular demand, my current monthly investment strategy after maxing out my #RothIRA first for the year. In NO way is this financial advice; this is just what I do.
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I went down the rabbithole because I know only so little about this subject. My initial Google search is "Can you have more than one Roth IRA?" 🤣 #rothira ROTH IRAs are not my forte. Can anyone chime in? I'm on Investopedia and I learned that you can transfer assets an unlimited number of times per year. The catch? Account setup, close-out fees and annual fees. 🧐🥴😫See more
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If you’re new to investing and don’t already have a #RothIRA set up, just do it … like NOW … and start maxing it out annually through sound investments. I promise it will be one of the best decisions of your life. Also, I will take ownership of this being financial advice.
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There are templates for letters to make your own! HandsOffMyIRA.#rothProtect investors. Protect your right. Defend your future. Here. The tools are here. Thank you. John Hyre is the best tax attorney IMHO to date. He has laid this out. Let’s do this! #possibilities #invest #roth #rothIRA #handsoffmyIRA #money #yourmoney #keepit #retire #retireearly #goals #retirementsavingsaccount

Not worried it’s nothing 0%
Sending the letters!!!60%
What’s a Roth? 20%
I’m already rich,too bad.20%
5 votes Ended 10/25/21
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#RothIRA Are there any sign up bonuses that you are aware of for starting a Roth IRA? If you know of any drop it in the comments. For the time being Public doesn't have Roth IRA capabilities, but this is such a valuable account that I don't want people to wait for Public to start one. Consider exploring your options. I do my Roth IRA with Fidelity and just saw they were running a promotion. https:/See more
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#CheatCodes If life gave you a cheat code … would you use it? I would and that is why I do everything in my power to move my money into a Roth IRA through backdoor conversions every year and fully fund my Roth employer 401(k). Taxes paid unnecessarily is just bad adulting. Friends don't let friends invest in only non tax advantage plans. Here is episode one of my video version of Multiple BrokeragSee more
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💡 Guide to IRAs - Part 1 💡 You may already be bored after reading that title, but PAY ATTENTION. You're going to want to know this info. Why? Because it's going to save you HUNDREDS OF THOUSANDS OF DOLLARS. Read that again. Not hundreds of dollars, HUNDREDS OF THOUSANDS of dollars 👀. ⭐ Here's an example: ⭐ If you invest the maximum IRA contribution every year ($6,000 or $7,000 if you're age 50 anSee more
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Invested in Manchester United
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Question: Do you have a Roth IRA? Do you like paying taxes? Dumb question 🙄, right? No one likes paying taxes, but they're a reality of life. Well, maybe not. If you love investing 📈 and hate paying taxes 💸, you should be investing using a Roth IRA. All the earnings from the investments you make within your Roth IRA are TAX FREE (as long as you follow all the qualified distribution rules). Peter Thiel, one of the founders of PayPal, was able to turn $2,000 in his Roth IRA into $5 BILLION, TAX FREE 🤯 (article link below). Let me know if you'd like to see a more in-depth post on Roth IRAs. ----------------- Note: If your income is too high to directly contribute to a Roth IRA, check out the Backdoor Roth IRA https://youtu.be/g-VXA7Ze4qw ----------------- Quick crash course on 401Ks and IRAs: https://youtu.be/Z8y8UXOmJG4 ----------------- Refresher on how stocks are taxed: https://youtu.be/N43PxOTSJcE https://public.com/posts/F4h2sIIUM3Vzro52aIJu506THPlq7PR9 ----------------- Peter Thiel article: https://bit.ly/3jmEZ2u ----------------- #taxefficiency #investing101 #investingbasics #rothira

YAAAS I love my Roth IRA47.41%
NOPE taxes are whatev11.85%
HELP me understand it40.74%
135 votes Ended 09/26/21
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#RothIRA #RetirementSavings "We talkin about practice [I mean taxes]" - or at least ways to be more tax efficient. While #Public doesn't offer retirement savings account - the investing experience and insight gained here will help you maximize the growth of your retirement savings if you choose to start one. This topic is the one that gets me most excited in the space of Personal Finance. It is so efSee more
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