FF TV Episode #1: The 5 Minute Guide to Roth IRAs
Tax season is here and the last date to invest in a Roth IRA is April 15th.
This is my first video on FF and it’s a simple introduction to Roths. We’ll explore what a Roth is, why everyone should have one, hosting options, and some personal stuff you should consider before opening your Roth.
If you have some time, please leave a comment below to let me know what you think of the video post.
[If you can't view the video, click here to go to the page]
[:20] - Who needs a Roth IRA?
[:30] - Contribution and withdrawal specifics
[1:16] - What do you invest in?
[1:45] - How much can you invest each year in a Roth?
[2:14] - Where to host your Roth?
[2:30] - Easiest option for Roth: Target Date Retirement Fund
[3:45] – Important things to consider before opening a Roth
[4:54] – Last day to invest in a Roth for 2009: April 15th, 2010
Here are the companies I mentioned for hosting your Roth:
Mutual Fund Companies
Like I mentioned in the video, the earlier you open a Roth and start investing yearly, the more money you’ll have when you retire because you’ll take advantage of compound interest.
Check out this post for a detailed look at why it’s so important to start young and how a 25 year old who starts early and invests just $1 per day can come out with over $100,000: Your Money Wants to Give You More Money: A Look at Compound Interest
Feel free to leave a comment below!
Did I miss any important details? Have any questions?
Last, did you guys like the video format? What could I improve on? Would you like to see more video posts?
Thanks and get to opening up your Roth!