Roth IRA Investing For Beginners: Here is a COMPLETE guide on how you can become a Tax Free MILLIONAIRE using a Roth IRA. This video includes all the information you need to know about a Roth IRA and how EXACTLY you can achieve this goal.

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⏰ Timestamps ⏰
00:00 Intro
01:11 What Is A Roth IRA?
02:44 Rules To Follow
06:32 Where To Open A Roth IRA
07:48 How To Open A Roth IRA
09:05 Building A Portfolio
11:24 Tax Free Millionaire

📝 What is a Roth IRA?
A Roth IRA is an individual retirement account that by U.S. law allows you to invest after tax money for the benefit to withdrawal at retirement (minimum 59.5) TAX FREE.

Fidelity Playlist: https://www.youtube.com/playlist?list=PLL80XtVsEZjN7ichqUUvP54qpYQ4lVS46
Link to open up a Roth IRA on Fidelity: https://www.fidelity.com/retirement-ira/roth-ira
Link to Vanguard: https://vgi.vg/3KrlHGx
Link to Charles Schwab: https://bit.ly/3nIOFco

Pros:
1. Withdrawal Tax Free
2. Time for investments to grow
3. You can withdrawal contributions any time penalty free and tax free
4. You have control on how you want to manage the account

Cons:
1. Income Limit: If you have to high of an income then you are unable to contribute to a Roth IRA.
2. Contribution Limit: How much you are able to contribute to the account every year.
3. Can't withdrawal earnings before 59.5
4. Withdrawal earnings early and pay taxes and 10% penalty.

Why are Roth IRA's a great approach when planning retirement?
With proper planning and discipline, a Roth IRA by the time you could retire could truly save you hundreds of thousands of dollars from paying taxes but also the benefit of holding onto investments over the long term.
WHY?
If you were to invest for 20, 30, even 40 years and hit the max contribution every year when investing in strong funds, the chances of your accounts value being high is likely. Paying taxes on a portfolio that high would come with an extremely heavy cost, but paying no taxes would save you many years of working.

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Sources:
Peter Thiel Roth IRA: https://on.mktw.net/3U1bPqq
Withdrawal Rules: https://www.schwab.com/ira/roth-ira/withdrawal-rules
Contribution Limits: https://www.schwab.com/ira/roth-ira/contribution-limits
Historic Market Returns: https://www.macrotrends.net/2526/sp-500-historical-annual-returns
Roth IRA Info (IRS): https://www.irs.gov/retirement-plans/roth-iras

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Disclaimer: The information provided in this video does not, and is not intended to, constitute legal, tax or financial advice; instead, all information, content, and materials available on this video and on this channel are for general informational purposes only. The presenter is not an attorney, accountant or financial advisor. Viewers of this video should contact their attorney, accountant or financial advisor to obtain advice with respect to any particular legal, tax or financial matter.