The Advantages Of Opening Up A Roth IRA
The Advantages Of Opening Up A Roth IRA
A Roth IRA is a type of investment account that you can set up where you invest your money today - up to $5500 per year with no immediate tax deductions - and can pull out your profits and earnings tax free when you’re 59.5. That means you pay NO TAX on YEARS of compounded interest and earnings.
"When I think about the idea of getting involved with an American woman, I don't know if I should laugh .............. or vomit!"
"Trying to meet women in America is like trying to decipher Egyptian hieroglyphics."
"Trying to meet women in America is like trying to decipher Egyptian hieroglyphics."
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Re: The Advantages Of Opening Up A Roth IRA
You're sounding like a boomer.
Re: The Advantages Of Opening Up A Roth IRA
f**k that, I like being a millionaire in my 30s.
Re: The Advantages Of Opening Up A Roth IRA
Just lifting those boxes for fun then?
Re: The Advantages Of Opening Up A Roth IRA
On top of the tax-free growth, you could actually pull out the principle anytime w/o any penalties. There are even some situations where the earnings can be pulled out w/o penalty (e.g. buying a home).
Re: The Advantages Of Opening Up A Roth IRA
I'm sure Jeff Bezos in the early days of Amazon was lifting a few boxes. I believe he started in his garage. Now he's got billions. Maybe you should lift boxes? Maybe you wouldn't be such a defeatist queer. If you don't have enough testosterone in your system you turn into a pedophile and lose drive. Anyone seriously interested in reversing "white decline" would immediately identify its cause is a radical collapse in motivation – an unwilling to do the incredibly hard work needed to gain and keep power, an unwillingness to “grind” – and not console oneself with fairy tales of an effortless "white" rise without insane amounts of hard work.
Re: The Advantages Of Opening Up A Roth IRA
My only question is, why do they limit it to only $5500 a year?
A good man is above pettiness. He is better than that.
Re: The Advantages Of Opening Up A Roth IRA
Taxes. Too high of a limit means less capital gains and dividend taxes for the gov't when it comes time to take the money out. The limit for those over 50 y/o is $6,500.
The Roth (or traditional) IRA is one of a few tax-advantaged accounts. There are also 401k/403b, HSA, FSAs, 529s etc. There are quite a bit of places to stash your money to avoid or reduce taxes.
Re: The Advantages Of Opening Up A Roth IRA
This quick video explains how to get started with a Roth IRA.
"When I think about the idea of getting involved with an American woman, I don't know if I should laugh .............. or vomit!"
"Trying to meet women in America is like trying to decipher Egyptian hieroglyphics."
"Trying to meet women in America is like trying to decipher Egyptian hieroglyphics."
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