AVOID These Roth IRA Mistakes At All Costs
Did you know there are multiple 5-year rules for Roth IRAs that could impact your retirement withdrawals? Misunderstanding these rules could mean paying unexpected taxes and penalties. Let’s break it down so you can maximize your tax-free growth and avoid costly mistakes. 📖 FIRE Investing Academy 📖 ➡️ https://www.firepsychat.com/fireinves... Join my private FIRE 🔥 Community to connect with me! 🙂 ➡️ https://firepsychat.com/community 👨🏫 Financial Consultation 👩🏫 Schedule a 1-on-1 Private Session with Psy ➡️ https://www.firepsychat.com/consultation The budget app! Start your free YNAB trial today! ➡️ https://www.firepsychat.com/ynab Increase your income by starting a course in Course Careers! ➡️ https://coursecareers.com/a/FIREPsyChat 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ https://www.firepsychat.com/resources Become a Channel Member! ➡️ / @firepsychat For sponsorships and business inquiries ➡️ [email protected] ⏰ Table of Contents ⏰ 0:00 Introduction 0:53 The Roth IRA Five-Year Rule Explained 2:18 Roth IRA Five-Year Contribution Rule 5:30 Roth Conversion Five-Year Rule 11:46 Five-Year Rule for Designated Roth Accounts 15:37 Roth-to-Roth rollover five-year rules 18:20 The Bottom Line: Maximizing Your Roth IRA #FIREPsyChat #FinancialIndependence #RothIRA 🎵 Music and Sound Effects Provided by Epidemic Sound 🎵 https://www.epidemicsound.com/referra... Disclaimer: This video is not in any form of personalized financial advice. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary. Affiliate Disclosure: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinions and comparisons.
