#rothira

[usnewsper-business]

Save for Retirement with a Roth IRA: Tax-Free Growth & Flexibility! #retirementsavings #RothIRA

[scottlongmodernwoodsmen]

Financial Freedom through a Roth IRA!

Let me show you how to achieve TRUE financial freedom! Contact me at (941) 587-7196

CHECK US OUT! https://www.scottlongflorida.com/

Facebook: http://www.facebook.com/modernwoodmen/?fref=ts Instagram: http://www.instagram.com/modernwoodmen1883/

[roosterfinancial]

Roth IRA vs Traditional IRA: What's Best for Your Retirement?

“Roth IRA or Traditional IRA: Which is the best option for my retirement?” This is one question many of us grapple with as we plan for a secure financial future. Understanding the key differences between these two Individual Retirement Accounts (IRAs) can help you make the best decision based on your unique financial situation and retirement goals. Understanding Roth IRA A Roth IRA is a unique…

[nittyagi]

Retire with Confidence: A Step-by-Step Guide to Planning Your Dream Retirement

Introduction Retirement planning is an essential part of financial planning, and it requires careful consideration to ensure a comfortable life after retirement. It is important to have a step-by-step retirement plan in place to ensure that you have enough savings to cover your expenses during retirement. There are several retirement accounts available, such as IRAs, 401ks, Roth IRAs, and…

[startingasmallbusiness]

The BEST Financial Advice for a 20 Year Old

I searched "Top Financial Advice For 20 Year Olds" on YouTube and came across this video. In this video, the hosts discuss the top 10 pieces of financial advice that they would give to a 20 year old kid who wanted to learn about money. Their number one piece of advice was:

TIME is your most abundant and valuable resource. You most likely do not have kids, you may or may not have a full time job, be in school, etc. If you are young and healthy, you should be maximizing the potential that your time is worth. You have the ability to accumulate money at an exponential rate, which means the younger you are when you invest, the more money you will make in less time. One of the hosts from "The Money Guy Show" YouTube channel explains that he did not realize how valuable his time & money was when he was younger, so he missed out on a lot of great financial opportunities. The talent then goes on to explain how investing $1 when you are 20 or 21 years old could become $88 over the next 45 years, however the value of a dollar is influenced by a number of factors. I found this PDF on moneyguy.com (ironically enough, the same guys that run the YouTube channel created this. They know how to use SEO), that explains how a young person should invest their money to be a millionaire by the time they're 65. This PDF shows how the earlier that you invest, the more time your money has to grow, and how you will make more money over time. It is a formula sheet, essentially, where you multiply your wealth multiplier # by your total in your investment accounts to calculate the projected growth of your assets by age 65.

I also would like to point out that time is on your side when you are younger, plain and simple. If you spend more time learning about finance, business, real estate, and other profitable skills and knowledge, you will be worth more in the future. You will be able to educate those that don't know any better. When you don't understand something, it's easy to brush it off or delay learning. However, if you learn about things while you're young, you have more time to put that knowledge to use and you will never have to put in the effort to learn that information again.

Next, I found this video titled The 4 Best Types Of Investment Accounts on YouTube (once again). Personally, I think this video is extremely helpful. Here is my personal summary on this video and what I learned:

You must have an emergency fund saved up before you start investing or putting your funds into different things. The best account to keep your emergency fund in is a high yield savings account.

2. First best account is a health savings account, but it is mostly beneficial for people in a higher tax bracket and you can't take the money out until you are 65, and then you can use it however you want but you must pay taxes on it. You can also get tax free medical care. Health savings account are important because as you age and experience life you will endure health care expenses. You can use this account for medicare premiums and these accounts have tax advantages. (HSA's?)

3. Invest in your retirement account at work - examples include: 401k, 403b, 457 plan, or a simple IRA plan. For 401ks, you get a max contribution to your salary and you can invest as much money as you can afford into this account. Your employer will match it if you are lucky or at least add a percentage and your money will increase exponentially over time. There are also tax deductions for these types of contributions. If you have good options for investment accounts with reasonable fees at work, you can max out your contributions. If you pay a lower tax rate now, see if you can contribute to a roth option at work because you will lock in your tax rate.

3. Contribute to a personal IRA.

TRADITIONAL VS. ROTH IRA

Traditional: tax deduction now, pay taxes later in retirement. There are deductible rules.

Roth: Pay taxes on the money contributed now, and you get to take it out tax free when you retire. A Roth IRA is better in my personal opinion as of right now. Income limits could make you ineligible for this option.

Deductions are expenses that can be subtracted from a taxpayer's gross income in order to reduce the amount of taxable income. It can be referred to by the IRS as a "taxable reduction". Reductions can be used to decrease the amount of taxes that a taxpayer owes, according to Investopedia.

Standard tax deductions are a flat rate that the tax system allows someone to deduct. This number is set in stone, it can not be negotiated. The standard tax deduction

I created this blog dedicated to starting a small business (and personal/financial wealth) because I am an entrepreneur and I want to start some of my own official, licensed companies. I wanted to learn more about finance and investing, and learn how to maximize my time and my wealth now so I can achieve my goals faster and more efficiently.

After reading about some of the financial advice that financially successful people would give to a 20 year old, I have developed a list of questions that I need to spend some time learning more about. Here is my list:

What investment accounts (IRA, 401K, Etc.) can I open? Which ones should I open? What are the benefits/disadvantages of an investment account? How much money do I need to be adding to these if I want a profitable return?

2. How can I benefit from deductions with my current employer/income status? Everything there is to know about taxes and business taxes!

To be continued..

[mindfulmoneyhub]

Building Your Tax-Free Nest Egg: Stock Selection for Roth IRAs

Investing in a Roth IRA for retirement? Picking the right stocks is key! This post explores:

* Goal-based investing: Growth, income, or stability? Choose your focus.

* Diversification is king: Spread your bets across sectors and regions to minimize risk.

* Research is crucial: Analyze financials, valuation, and industry trends.

* Know your risk tolerance: Are you young and aggressive or nearing retirement?

* Long-term view wins: Focus on stocks with long-term growth potential.

* Regular reviews are essential: Adapt your portfolio as your goals and market conditions change.

Example Balanced Portfolio:

* Growth: Amazon, Apple, Tesla

* Dividend Income: Johnson & Johnson, P&G, Coca-Cola

* International: Alibaba, Nestle, Toyota

* Sector Diversification: Tech (Microsoft), Healthcare (Pfizer), Consumer Staples (Unilever), Financials (JPMorgan Chase)

Pro Tip: Consider ETFs/Index Funds for broader market exposure!

Ready to learn more? Check out our full blog post for a deeper dive into stock selection for Roth IRAs! Link below ⬇️

Disclaimer: This is not financial advice. Please conduct your own research and seek professional guidance if needed.

#rothira #investing #stocks #retirementplanning

[quiveringdeer]

Pieck's high school was like 96% stoners who spent most of the lunch period getting hotboxed in their cars during lunch and as a result usually had the mega munchies afterwards. So Bertholdt made a lot of baked goods and Pieck used her charm to sell them at high prices (25 bucks for 4 muffins, 8 bucks per brownie etc) and the two of them made BANK.

AAAAAAAAYE!!! I fucks with this idea heavy, Nonnie!

Gods the idea of Pieck and Bertie being the two best hustlers out of their crew is hilarious to me!!

Everyone else is just blown away by their success tbh

And then Bertie is putting away 25% of his earnings into a rothIRA account. 25% into a diversified stocks portfolio. 25% into buying more grocery supplies and the rest to buying dorky nerd things probably

Pieck is more frivolous with her share. Well frivolous isn't the right word. But she spend a majority of hers on new art supplies and such. One year she was even able to buy some really nice welding torches and create some boss metal sculptures 😌

[usnewsper-business]

Save for Retirement with a Roth IRA: Tax-Free Growth & Flexibility! #retirementsavings #RothIRA

[pestequitypodcast]

Join Us For Episode #50 The First Episode Of Season 4 Of Pest Equity Business Podcast Were We  Discuss Building Sustainable Wealth,The Steps To Help You Achieve Your Goals And Set Yourself Up For Success. Learning The 4 Categories Needed Moving Forward, Becoming Financially Educated, Discussing Mainstream Sources Of Income, and Much More.. Our Social Places: Email:  pestequitypodcast@gmail.com https://cash.app/$pestequitypodcast instagram.com/@pestequitypodcast https://www.youtube.com/channel/UCtdyZsZW5MgiumnYbLDfxmw Facebook.com/pestequitypodcast https://teespring.com/stores/pest-equity-podcast-shop #pestequitypodcast #pestequitybusinesspodcast #pestcontrol #buildingwealth #sustainablewealth #podcast #smallbusiness #businessgrowthstrategy #salestips #financaleducation #wealthmanagement #nyc #likes #moneymoves #sayyestosuccess #ceomindset #ceomillionaires #entrepreneurs #startupbusiness #rothira #401k #retirementplanning #womenownedsmallbusiness #marketing #followformoretips #followus #follow #moneytree #moneystore @pestequitypodcast (at Manhattan, New York) https://www.instagram.com/p/CkIpvbJOFN6/?igshid=NGJjMDIxMWI=

[nittyagi]

Retire with Confidence: A Step-by-Step Guide to Planning Your Dream Retirement

Introduction Retirement planning is an essential part of financial planning, and it requires careful consideration to ensure a comfortable life after retirement. It is important to have a step-by-step retirement plan in place to ensure that you have enough savings to cover your expenses during retirement. There are several retirement accounts available, such as IRAs, 401ks, Roth IRAs, and…