Q&A: Who Can Have an IRA, Why so Account Types, Cash Options, and TJ Maxx Math | Ep. 18 скачать в хорошем качестве

Q&A: Who Can Have an IRA, Why so Account Types, Cash Options, and TJ Maxx Math | Ep. 18

Ever feel like there are way too many retirement account names to keep straight? It’s almost like alphabet soup for your retirement planning. In this episode of Common Curiosities: Retirement, Michael, CFP® and EA is joined by his wife, who asks the questions many people may secretly have. Like what to do with extra money now, what about extra money I don't need now, how do these different accounts actually work, and who can (or can’t) fund a specific account? Along the way they cover: 💬 What's different between traditional IRA from a Roth IRA outside of just the taxes and who the heck is “Mr. Roth” anyway? 💬 Why are there so many types of accounts? 401(k)s, 403(b)s, and IRAs (and how they connect with one another) 💬 Who can open or contribute to a Roth IRA (even if you’re under 18) 💬 Why earned income matters (and what the IRS really means by that) 💬 The “Starbucks app” version of paying taxes now vs. later 💬 Plus, a little “girl math” and TJ Maxx logic to keep things grounded It’s an easygoing, real-world conversation for anyone who’s ever looked at their 401(k) form or Roth contribution limits and thought, “Wait, which one is this again?” 👉 Subscribe to Common Curiosities: Retirement for more episodes that make complex financial topics feel like normal conversations. Chapters 00:00 Understanding IRA vs Roth IRA 00:51 What to do with a little extra money? 01:53 Do we treat checking and savings similarly? 02:30 Potential pros and cons of HYSA or MM 05:03 Money left after your TJ Maxx budget? 07:26 Who the heck is Roth? 09:01 Tax management like the Starbucks app? 09:48 Tax differences on Roth vs Trad. IRA 10:48 If I'm young which account should I consider? 11:42 When can you start retirement savings? 12:40 Have earned income but who can fund an IRA? 13:56 Is there a stage you can't use a Roth IRA? 14:40 Income restrictions for IRA and Roth IRAs? 15:52 How many different type of retirement accounts are there?! 18:39 Are there auto investments in 401ks or IRAs? 19:32 Why so many different retirement accounts types!? 21:10 Youtube Disc. TN & Words.mp4 𝐖𝐡𝐲 𝐰𝐞'𝐫𝐞 𝐡𝐞𝐫𝐞? We’re here to make retirement planning feel less intimidating by helping people think through their strategies and plans through clear relatable financial topics! 💬 Questions or Want to Connect? 🌐 𝐖𝐞𝐛𝐬𝐢𝐭𝐞: www.custerfinancialadvisors.com 📧 𝐄𝐦𝐚𝐢𝐥: custerfinancialadvisors@lpl.com Disclosures: Harborfront Financial Group is a Registered Investment Advisor registered with the Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply a certain level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. The information contained in this material is intended to provide general information about Harborfront Financial Group and its services. It is not intended to offer investment advice. Investment advice will only be given after a client engages our services by executing the appropriate investment services agreement. Information regarding investment products and services are provided solely to read about our investment philosophy and our strategies. You should not rely on any information provided on our web site in making investment decisions. Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Harborfront Financial Group, a Registered Investment Advisor. Harborfront Financial Group and Custer Financial Advisors are separate entities from LPL Financial. This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing. All investing involves risk including loss of principal. No strategy assures success or protects against loss.