Investing for retirement is an integral part of building your financial future. Whether that means saving up or investing through a …
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Investing for retirement is an integral part of building your financial future. Whether that means saving up or investing through a …
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39 comments
Do both if you can…
Should I buy when I don’t have kids
My boys teach Brazilian jiu jitsu, mow lawns and clean neighbors’ yards. I opened a custodial Roth IRA for them and put their earnings into it. They understand the power of investing, savings and deferred gratification at a very young age. They will thank me when they are 59.5
This stuff is so confusing
Both is the only answer
Thank you. As an adult man, this video has been very informative!
I do 8% traditional 401k and 2% roth
Just do both 🤣🤣🤣🤣🤣
Video makes no sense. You should compare Roth 401K to Traditional 401K and then Roth IRA to Traditional IRA
Do both
get your match from employer, then max out roth ira, then consider putting more into 401K or a taxable brokerage.
Diversify.
401k for its employee match and higher contributions.
Roth IRA for its tax free withdrawals
Realestate because the equity of your home will always go up.
Anyone else here because they wanna make sure youtube doesn't think ur a kid?
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I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
I’m 21 and plan on graduating Nursing School in 2 years with an ADN at 23. I live in a lower COL area of California (still high COL State) so my starting pay will be about 60/hr at 23. I plan on opening both and taking advantage of my early start to get compounding interest on my side with a high earning job funding a lot of these investments and not really a family yet to worry about many expenses.
I’m 53yrs never had a 401k, wondering if there is any point setting up one at this point.
The only time I’d ever keep a 401(k) where it is is if I’m using the rule of 55. Otherwise, it should be rolled over into an IRA. This way, you won’t forget about it several years or decades later when it’s time to retire plus an IRA has lower fees and better investment options.
A Roth IRA is a smart investment choice since it’s funded with after-tax dollars, enabling your contributions to grow tax-free. When you retire and begin making withdrawals, you won’t have to pay taxes, allowing you to keep more of your savings. Personally, I retired with $5 million.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Thank you needwallet for teaching me the differences between a Roth IRA and a 401k this was very helpful,very knowledgeable and financially substantial.
Bullish or bearish, AI stocks will still dominate 2025, even beyond. Why I prefer NVIDIA is that they are better placed to maintain long-term growth potential, and provide a platform for other AI companies. I know someone who has made more than 200% from NVIDIA. I'll also take these other recommendations you made.
Best strategy for me is contributing to both depending on my budget. Firstly i was able to contribute enough for my 401(K) to match full employer, then ROTH IRA for tax diversification. Here to be educated more.
Question from a dummy: if you invest in 401k, when you leave that workplace does that also affect it? Please educate me.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
I ended only doing a Roth 401k. My employer has a 4% match and the options I have in my 401k are great with low fees.
Thank you for the informative video! (BTW, Elana, you have beautiful eyes and I LOVE your beauty mark on your cheek!!)
This year I opened an ROTH IRA and put the maximum amount possible. I feel foolish for letting my life fall into order so slowly. The issue at hand is how to invest the funds most profitably in order to save for retirement.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I haven't felt intellectually challenged until watching this video.
Very helpful video. We are less than 10 years from retirement and also hold a lot of individual stocks. It has done us wonders the last 20 years but we know it's too aggressive for a retiree's portfolio. We've done partial conversion, ourselves, as our IRA grows. Most of our funds are in Traditional IRA and Roth but we are also growing our Brokerage account. We earned less than 100k living in the bay and only breached over 100k income the last 2 years so it is possible to grow your retirement accounts to a sizeable amount but you have to start saving early when you start working.
Proopsy modular homes are currently a promising investment for the future, and with their recent surge in value and growing stability, they offer attractive returns. However, a lack of understanding often deters potential investors.
I lost over $80k when everything started to tank. Not because I was building in a bad neighborhood that went belly up. I was just stupid to build, and because that's what everyone said, it's more profitable than prefab homes. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found Proopsy to recover my money, at least $10k profits weekly. Thanks Proopsy.
Last year, I invested $27k in Proopsy modular homes and made about $40k within the first year for renting it out—and it’s still growing. I’ve always been a strong advocate for pre fabricated homes because it’s been incredibly rewarding for me. Looking forward to achieving financial freedom soon. And by the way, awesome content, brother!
Thank you for featuring Proopsy in one of your videos. I took your advice and contacted him for modular homes, and the house have been incredible. Paid slightly less than $29k, and now I’ve paid off my $129k 15 year loan in 8 months. Now totally debt free because I rent it out on Airbnb. Love having no debt for the last 5 months. Thank you Proopsy!
Thank you for featuring Proopsy in one of your videos. I took your advice and contacted him for modular homes, and the house have been incredible. Paid slightly less than $29k, and now I’ve paid off my $129k 15 year loan in 8 months. Now totally debt free because I rent it out on Airbnb. Love having no debt for the last 5 months. Thank you Proopsy!
I retired at 60 with $750K in my 401K and IRA's. My wife and I did just fine in expensive Bergen County, NJ by living within our means. Home was paid off. No car loans. By withdrawing bare minimum, our health insurance costs were almost non-existant due to Affordable Care Act subsidy. SS kicked in at 62. Medicare at 65. Six years later, my IRA balances have grown to $850K and now my wife is turning 60 and her IRA's are now available. Anything is possible if you live within your means.
This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $146,000 outside funds in my IRA to invest. Pls how do I take advantage of this?