Best Apps to Save for Retirement! (& Why I love ROTH IRA's!)

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Күн бұрын

Welcome to my MissBeHelpful Channel!
It's SO important to save for retirement as EARLY as possible in order to see that money grow tremendously over time, but for younger generations of people it can seem so confusing! There are plenty of apps and websites that make saving for retirement super easy. Here's a step by step guide to decide where you should put your retirement savings now and why!
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Let’s connect:
FACEBOOK: / missbehelpful
INSTAGRAM: / missbehelpful
BUSINESS INQUIRIES: Missbehelpful@gmail.com
’Til next time… PEACE!

Пікірлер: 120

@seanriguera1850 7 жыл бұрын

Thanks you just got me into get a Roth IRA account. I have been very interested for a long time in how to save for when I get old. Thanks I really find this whole channel very instructional and interesting.

@missbehelpful 7 жыл бұрын

Thanks for watching and commenting!

@CharlieCoopertv 3 жыл бұрын

This video is suuuuper helpful!! You broke all this info down perfectly! Thank youuu!

@marlynel2335 7 жыл бұрын

Omg I Miss your Videos 😩🙌🏽, Thank you for the awesome tips

@missbehelpful 7 жыл бұрын

Thanks Marlyne!

@KL-bg8fi 7 жыл бұрын

21 and planning for retirement.

@missbehelpful 7 жыл бұрын

SMART lady!

@KL-bg8fi 7 жыл бұрын

Thanks.

@makingourmark6987 4 жыл бұрын

How’s the retirement planning going so far?

@israelgonzalez8894 7 жыл бұрын

i cant believe you only have 9,000 subs you have great content.

@missbehelpful 7 жыл бұрын

Thanks for that! Appreciate it!

@shaneezashafiullah1080 7 жыл бұрын

Really enjoying your videos and tips. 👍

@missbehelpful 7 жыл бұрын

I'm so glad to hear that, Shaneeza! Thanks so much for watching and commenting!

@easterlake 6 жыл бұрын

What an impressive young woman. Keep it up!!

@missbehelpful 6 жыл бұрын

Thanks so much for watching and commenting!

@stephaniemohan9315 7 жыл бұрын

Highly appreciate that u stay on point an explain so clearly. Keep it up. Very informative!

@missbehelpful 7 жыл бұрын

Thanks Stephanie!

@rapinncapin123 7 жыл бұрын

Hola 😃. Thank you for your helpful advice.

@missbehelpful 7 жыл бұрын

You're welcome - Glad you found it helpful!

@robertochoa3031 7 жыл бұрын

New Subciber, Love your Videos! Only 19 and I look forward to putting all your tips and advice to use for my future Thank You for The amazing videos and helping everyone out! Thanks a ton👌

@missbehelpful 7 жыл бұрын

Thanks for watching!

@jschrager23 7 жыл бұрын

Great stuff! Maybe next you can do a video explaining the differences between vanguard and betterment. I still get confused as they seem very similar

@GracindaGouveia 7 жыл бұрын

You are really good

@wiseman4256 7 жыл бұрын

Great advise for young people.i'm young ish. But one thing young people should also learn is how to trade stocks buy learning position sizing,risk management.money management,ect I have been learning all these things in the last few months.if young people learn these things they may still lose money buying stocks at first, but once they learn from their mistakes from their human nature.After a few years if they are willing to learn from their mistakes and not be stubborn then they can become a professional trader.Because when someone learns how to trade and are willing to learn from their mistakes then for them buying stocks won't be gambling.I have been learning swing trading it's one of the safer type of trading.Because putting money away for retirement is great.But i'm learning how to trade so i can put even more money toward retirement.Some people that have been trading stocks for 15 years and are still not making profits it's because they don't know how to trade or because they are not learning from their mistakes or both.

@earthandwind820 2 жыл бұрын

Thank you - very helpful! Let’s say my employer offers me a 401k match, should I also get a ROTH IRA or just stick to one?

@tanishar.5267 7 жыл бұрын

cam you make a video about using betterment

@jewelthompson4210 6 жыл бұрын

Can you do a video on what to put in your Roth Ira once you open one. Like should you only put stocks in your roth ira or just money you save. Like what should a roth ira consist of, what makes up a roth ira (the components).

@alrocky 6 жыл бұрын

If you are with Fidelity, Schwab, Vanguard or another lost cost brokerage, look for an S&P 500 Index fund or a Total US Stock Market Index fund. Alternatively you could instead get a Target Retirement Fund or similarly named mutual fund.

@VapeTime79 6 жыл бұрын

I have a traditional 401k with vanguard and a roth IRA with my bank

@alrocky 6 жыл бұрын

A bank is not usually one of the better places to hold your Roth IRA. Why not just move your Roth IRA to Vanguard? What investments (CD, stock, mutual funds, EFTs) do you have in your Roth IRA? You will most likely be better off moving it to Vanguard.

@timothyzile5452 3 жыл бұрын

im supposed to be watching this for my class in school but you are so fine.

@thChrch 7 жыл бұрын

I look forward to your videos. One of the few people I trust. I'm looking to lease a new car soon. Any tips or upcoming video on getting a car?

@manny373 7 жыл бұрын

It's always recommended to buy a car upright. Continue to save and keep upgrading your cars as you switch. So lets say for instance you buy a car that is $5,000 and you save another $5k towards your next purchase during 2-3 years you can purchase a vehicle for aprox. $9k with the trade-in value, if you keep that trend you'll save a lot on car insurance and lease payments. Eventually you'll have brands new cars for practically free.

@missbehelpful 7 жыл бұрын

Thanks for you kind words! I have never bought a car, but from what I have read it seems like Manny is right and paying cash for the car is the best thing you can do for your longterm finances!

@manny373 7 жыл бұрын

MissBeHelpful I purchased a car that's the only reason why I answered. After long thought and research there's just no real reason to finance a depreciating asset. Yes at first it kinda sucks because you want the nice car but if you do your due diligence there are good deals out there. I would personally recommend looking into used vehicles that have 0 accidents and 1 - 2 max previous owners. It limits the amount of extra cash you'll have to dish out after having possession of the car.

@PennyPincherdotcom 7 жыл бұрын

we have the same thoughts Manny.

@ballislife6299 4 жыл бұрын

18 and planning for retirement

@2ha2nc 7 жыл бұрын

very helpfull for my retire life in 2022 thank you

@missbehelpful 7 жыл бұрын

You're welcome!

@davidherna 7 жыл бұрын

Hi, Miss lovely. Can you make a video about how to start saving and investing for retirement for people who are really late in the game and are not professionals? Thanks for your videos, and thanks for explaining that mystical beast called ROTH IRA, ha!

@missbehelpful 7 жыл бұрын

Sure - what do you mean are "not professionals?" Like you work odd jobs?

@TheWeeklyShowWithJacob 4 жыл бұрын

With the coronavirus crashing the market, what would you recommend now? Roth IRA, Traditional IRA, 401K?

@mrs.a7572 4 жыл бұрын

Hi. So what happens to the money in a Roth IRA, does it just sit there?

@eulalio02 7 жыл бұрын

glad to see you're investing with Vanguard. as a younger man, i almost went with another company that tried to sell me a mutual fund with large up front costs, and high expense ratios. 5% didn't seem that much right? lol. the easiest way to understand the difference between vanguard and all the other investment companies is that if every company is a bank, vanguard is a credit union. meaning they do not exist to make a profit. they exist to serve their customers. when profit is not a motive for a company, and they adhere to the fiduciary standards as vanguard does the customers wins!

@missbehelpful 7 жыл бұрын

Yup! Thanks for watching and commenting!

@videoshomepage 6 жыл бұрын

Tax bracket at age 59 and a half should be lower because you will be retired, right?

@mrmoldremoval 7 жыл бұрын

Yes Thank You for this Lates Vidio. Its Good

@missbehelpful 7 жыл бұрын

Thanks!

@cobaltstar_8281 4 жыл бұрын

3:28 I don't understand...points 1 and 3 contradict each other?

@harangutan0176 3 жыл бұрын

the terminology is key here, "earnings" and your "contributions" are different. (with exceptions) contributions to a Roth are the amounts you put in before they earn tax free interest, whereas earnings is the interest that you make in the tax free Roth account. this doesn't contradict because after 5 years you can withdraw 100% of the money you put in (and already paid taxes on) but as soon as you withdraw $0.01 more than you actually put in to the account you have to pay the penalty. [ I Just started an economics class, to the more knowledgeable viewers feel free to correct me/ add ]

@Oakmille 7 жыл бұрын

Thank you for this info!! You said you use both Vangaurd and Betterment. You have two IRAs??

@missbehelpful 7 жыл бұрын

Yup! A Traditional IRA and a ROTH IRA. I put $2750 in each account each year.

@reesesaxy 7 жыл бұрын

MissBeHelpful Your videos are so helpful and l appreciate all the financial advice you are giving. Which company are you using for the Roth IRA

@missbehelpful 7 жыл бұрын

I use betterment for the ROTH IRA. Here's my referral code if you're interested: www.betterment.com/invite/yanelyespinal

@shrooqmunir 7 жыл бұрын

can you make video s about taxing for begginers

@missbehelpful 7 жыл бұрын

Yeah! Great Idea! Thanks for watching and commenting!

@lukeknowsfantasy7279 3 ай бұрын

Might be 7 years ago but you could still get it!!!!!!

@michellebray255 11 ай бұрын

There was literally zero apps on how to save for retirement just plugs with websites for IRA purchases.

@MrCarlitosway80 5 жыл бұрын

Hello missbehelpful. I have a question. I recently opened a betterment account. Can I change my traditional IRA to a Roth? If so how do I change it?

@missbehelpful 4 жыл бұрын

I would say just stop putting money in the traditional and open a new ROTH because you've already gotten a tax break on the traditional IRA. But if you REALLY still want to do it then you'll need to do a Roth conversion. But you might see a big fat tax bill the year that you convert it.

@Papalevanvao 6 жыл бұрын

love your videos; I hear that there's a maximum qualification for roth ira. if I don't qualify what ira should I invest in?

@alrocky 6 жыл бұрын

"If you are single, you must have a modified adjusted gross income under $133,000 to contribute to a Roth IRA for the 2017 tax year." If you make too much money you can always use the BACK DOOR ROTH IRA option so the income limit really isn't a barrier that prevents you from contributing to an IRA.

@Papalevanvao 6 жыл бұрын

thanks Al; what is the back door Roth IRA?

@alrocky 6 жыл бұрын

If you make less than $133,000 you really don't have to worry about not qualifying for a Roth IRA. Anyway a Back Door Roth IRA assumes you make too much money to contribute directly to a ROTH IRA. So you contribute to a traditional IRA and then immediately convert (or change it ) to a Roth IRA. It's is as simple as that.

@Papalevanvao 6 жыл бұрын

Al Rocky thanks Al!

@jimibuttler8755 6 жыл бұрын

Thank uou

@missbehelpful 6 жыл бұрын

Thanks for watching and commenting!

@oscarvidales3548 3 жыл бұрын

im jsut here because of school

@sherises7107 7 жыл бұрын

How much should you put towards IRA? Like when I get my tax returns should i invest the whole thing towards my IRA or take half...because i know you can lose money at certain times.What would you suggest?

@manny373 7 жыл бұрын

The bare minimum is 10% but it all depends on how much money you want to have when you do retire. There are a lot of people that get out of debt and save 40% + and retire early.

@missbehelpful 7 жыл бұрын

Yup, Manny is right - also I would add that you should aim to max out the Roth IRA if you can afford that. I put $458.33 each month because that adds up to $5,500 each year and that is currently the max for a single person in the US.

@shuuzipuuzi 7 жыл бұрын

MissBeHelpful can you still retire early with a 401k employer match ?

@manny373 7 жыл бұрын

You can retire early from a 401k account but it's not recommended because there would be a 10% penalty besides it being complicated to access. The Roth IRA is a lot more flexible which makes it ideal for early retirement. I would only contribute up to the match with your employer and save the rest onto an IRA. If you do need to access money from your 401K (not recommended) there is a 72(t) rule that gives you access.

@sweatydbando-456 3 жыл бұрын

such an intelligent, beautiful women.. also thanks for getting me into ROTH IRA!

@C.G91 5 жыл бұрын

I get a IMRF from my employer . I live in Illinois is that a good retirement fund?

@missbehelpful 4 жыл бұрын

Looks like that's a pension. I would still have a Roth IRA too if I were you! Couple hundred bucks a month now will only be extremely helpful in the future!

@dsanti4069 5 жыл бұрын

Watch at 1.5x speed. Youre welcome

@missbehelpful 5 жыл бұрын

I watch everything on either 1.5x or 2x speed LOL Thanks for watching and commenting!

@mondoraj 7 жыл бұрын

Could you tell me what your financial background is. Thanks.

@missbehelpful 7 жыл бұрын

I work in education, actually. I was an elementary school teacher for several years. I have learned about finance on my own by reading a ton!

@mondoraj 7 жыл бұрын

Thank you. I thought something you said might be wrong, but I can't remember which video...I've watched a lot of them and enjoy them.

@marcocuentas6784 4 жыл бұрын

the part where you show the reasons for it being flexible is a little confusing (withdrawing penalties)

@marcocuentas6784 4 жыл бұрын

it's unclear, the 3 reasons contradict each other, if that makes sense

@amvien 7 жыл бұрын

Great video. Does anyone know the average fee for opening/maintaining a Roth IRA with vanguard or betterment?

@manny373 7 жыл бұрын

It depends on the type of funds you invest in. With my company I use Fidelity for my 401k and they were charging me 0.77% expense ratio. I switched to a different fund were I'm only being charged 0.045%. Betterment has different rates depending on how much money you have invested. The more you have the smaller your fee is. I personally use Wisebanyan because they manage your Roth IRA for free here is a link if you'd like to research on it: bit.ly/2bKqcIE

@1queensny 6 жыл бұрын

👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾

@israelgonzalez8894 7 жыл бұрын

what do you do for a living my friend?

@missbehelpful 7 жыл бұрын

I am an educator. My masters is in Teaching, actually - but I am no longer teaching elementary school. I work for a tutoring program.

@borg386 7 жыл бұрын

love watching you! but could you show us more of yourself ( like doing other things). in your everyday life. thanks

@missbehelpful 7 жыл бұрын

LOL Like vlogs? Maybe I'll post a few vlogs this summer when my schedule is more flexible :)

@christophermichael236 6 жыл бұрын

What do you think of Stash Retire?

@alrocky 6 жыл бұрын

Stash Retire costs you a monthly fee of $1 and then 0.25% once your account balance reaches $5,000. Look at Schwab or Vanguard instead.

@noemy711 7 жыл бұрын

would you recommend waiting until after college graduation/ when you get your first salary job to open a Roth IRA account? or can I still open one as a 21 yr old college student on a minimum wage job?

@missbehelpful 7 жыл бұрын

You can open it now, but you need to research the limits on how much you can put in or contribute based on your income! Thanks for watching and commenting!

@landab.9355 7 жыл бұрын

what if the person is under the age of 18? how can they make this work?

@manny373 7 жыл бұрын

You can open your IRA at age 18 you just have to set your account up and start saving. Here what I use: bit.ly/2bKqcIE

@sherryleeperdue9576 6 жыл бұрын

How often can you deposit in to a ROTH IRA? Thank you

@alrocky 5 жыл бұрын

You may deposit into a Roth IRA as often as you want. Your maximum contribution for the year is $5,500.

@sherryleeperdue9576 5 жыл бұрын

Thank you. Is it too late to get one for 2018?

@alrocky 5 жыл бұрын

You have from January 1st 2018 to April 15 2019 to contribute to your 2018 Roth IRA, so you have plenty of time. It is 12 months of the year plus the first 4 months of the next year, tax filing deadline which normally April 15.

@sherryleeperdue9576 5 жыл бұрын

Thank you very much! I appreciate the info.

@missbehelpful 4 жыл бұрын

@@sherryleeperdue9576 for 2020 it is not a $6,000 limit!

@Hector.silver.coin. 5 жыл бұрын

Have you heard of acorn later

@missbehelpful 4 жыл бұрын

I have heard of them but the fees are a bit higher with Acorns unless you invest big amounts of money.

@juanescalante5321 7 жыл бұрын

what happens if you have a old 401k plan from previous job what can you do about that money that is just sitting in there

@missbehelpful 7 жыл бұрын

Good question! I'll do a video about this soon, but basically you have a few options and I recommend rolling it into an IRA account. If the 401k has ROTH funds then roll it into a ROTH IRA. This will need to be included in your taxes, but the IRA is better than the 401k because you'll have more say over how your money is invested than if the company were investing it for you. Just make sure you pick a brokerage firm or robo-advisor that has low fees like Betterment or Wealthfront. Thanks for watching and commenting!

@mrs.a7572 4 жыл бұрын

@@missbehelpful Hi. Does this work the same way with pensions? I am an educator and have taught in FL and GA, so both pensions or Teacher Retirement Accounts are just sitting there because I live in NV now.

@missbehelpful 4 жыл бұрын

Careful Observer YES that would require you to call them up and ask for a pension rollover which means you take distribution (withdrawal) of the entire amount and you’ll get that fat check in the mail and your job is to mail it in 45 days or less and deposit it into another retirement plan to avoid taxes and fees on it. Good luck!

@mrs.a7572 4 жыл бұрын

@@missbehelpful Thank you so much! I appreciate it and will get right on this task. You're amazing!!