Im 30 and just learning about this. I have credit card and car loans to pay. My first plan to is to pay off credit card and car loans first then make huge deposits with the money I would be using towards credit cards and car loans
I have a question, I just started putting money in I just turned 21 I use fidelity, Do I have to invest it into stocks and what not or just put my money into the initial Roth IRA account for this kind of growth?
How about if your in a higher tax bracket while working? When I started to invest every experts said use a traditional IRA because most people pay less taxes in retirement. We know people save less nowadays but the YouTube advice pushes Roth
Almost made a risky investment after retiring—thankfully I did my homework! Learned the hard way how important transparency and long-term planning are. Retirement funds aren’t easy to manage!
I’m 23 and the company I work for matches my 401k 5% with an additional 4% on top. Anyone here with info would be great. I’m going to keep taking full advantage of that, my question is should I open the Roth and maybe contribute an additional 5% granted I could swing it? I know the logical answer is yes but what may I be missing? I’m aware some 401ks will not let you have an additional account for Roth
This is a tad bit misleading. You need to clarify if you mean that if you max it out this year in five years, you will have X amount and so on or do you have to max it out for the full five years 10 years, etc. in those top columns.
48 comments
32k when your 60 years old nearing retirement? Gtfoh. Invest in gold …thank me later
That tax free is misleading. Cuz with inflation, that 1.8 could only be 1M by the end of the 40 years
What are good stock to invest the money into just started and looking to be pointed in the right direction
Yes the chart we needed to see fuck all the Bs middle talk
why would i want to wait 40 years to have money in a dying economy
Im 30 and just learning about this. I have credit card and car loans to pay. My first plan to is to pay off credit card and car loans first then make huge deposits with the money I would be using towards credit cards and car loans
WHAT IF I WIN THE LOTTERY WHILE INVESTING?
47 WITH $770,000 ABT TO BE 48 IN 7 DAYS
Purchase Power has left the room.
The big question is, how do you generate a 8% return??
%8 rate of returns like the s&p50p right? Voo?
Can't watch this because of all the crazy hand movements.. Shame!
$7000 max contribution 😒😒
Do people actually have enough $ after taxes and cost of living to max out a Roth IRA?? $7,000 is a lot
I needed a pool when I was 10 not 39 or 65, what am I supposed to do float there like a douche? I needed that money when I was younger.
would be nice to get 8% but doesn't always happen
What about a 35 year old whos looking to start one? I aint making it another 40 years
I have a question, I just started putting money in I just turned 21 I use fidelity, Do I have to invest it into stocks and what not or just put my money into the initial Roth IRA account for this kind of growth?
Correct
Misleading. Now lets factor inflation…
Is that without investments? Meaning just that amount only per month?
In 40 years 1.8 million will be enough to buy a old run down house built in the year 2020
But as you make more money in time you’ll probably have to stop contributing
How about if your in a higher tax bracket while working?
When I started to invest every experts said use a traditional IRA because most people pay less taxes in retirement.
We know people save less nowadays but the YouTube advice pushes Roth
I’m 33 I just opened an account, luckily for my kids ages 15, 8 and 4 I’m starting them young 💪🏼 Is there any other investments I should know about?
I've been looking into doing this.
How much tax would one pay if your a low earner vs high earner?
I missed the visual explanation. You just highlighted number, didnt explain anything. There is more to it than that.
This of course assumes things keep going up forever. Very real chance we see an economic collapse in the US within 20 years.
You have to start at 20 years old.. 40 freaking years would be 60 years old
Almost made a risky investment after retiring—thankfully I did my homework! Learned the hard way how important transparency and long-term planning are. Retirement funds aren’t easy to manage!
The question is, what exactly do you have to invest within the Roth IRA to make it grow that much even at a minimum contribution per month?
I’m 23 and the company I work for matches my 401k 5% with an additional 4% on top. Anyone here with info would be great. I’m going to keep taking full advantage of that, my question is should I open the Roth and maybe contribute an additional 5% granted I could swing it? I know the logical answer is yes but what may I be missing? I’m aware some 401ks will not let you have an additional account for Roth
What if one doesn’t make it to the 40 year mark?
I’ll be 80 yrs old
Learn how to make money. Then you’ll never be poor
Learn how to make money. Then you’ll never be poor
The important question here is: What should you invest in with the money you put in a Roth IRA?
Is SCHD A good ETF to invest in?
40 yrs is a long time
The question is which investments will give you an 8% return
Cool. So after 40 years I’ll barely be able to buy a house. Great. Maybe I’ll be comfortable right in time to die.
So do I just put money in and that’s it? Or do I also have to invest somewhere else?
Be I contributed 50 a month for 3years straight then stoped in 2020 now. I only had 3700.. why?
Im 34 with 40k in mine i guess i have to put more money in every check im doing like 250 for 4 years now
This is a tad bit misleading. You need to clarify if you mean that if you max it out this year in five years, you will have X amount and so on or do you have to max it out for the full five years 10 years, etc. in those top columns.
Damn I’m 35 I’m toast
advise where to put it in to get 8% return rate and to reach $1.8 mil in 40 years.