FF TV Episode #1: The 5 Minute Guide to Roth IRAs

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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.

Enjoy!

[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

Fidelity

Vanguard

T. Rowe Price

Discount Brokerages

Sharebuilder

E-Trade

Scottrade

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!

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