What’s up guys welcome to the long-awaited second episode of Finance Friday now that there are two of them I can call it a series this week on Finance Friday I am going to be opening a Roth IRA account now I’ve read that this is a good idea I have talked to my family members and basically I’m just going.
To be heavily heavily relying on recommendations for.
My understanding a Roth IRA is basically a great alternative you don’t have a job with a 401 K which I don’t maybe I will someday I mean that’d be nice but the sooner you open one and start saving for retirement the more money you have when you retire obviously that’s how investing works so I’m just going to go through the process.
Like live in this video I have it really started and I’m just gonna see how easy it is maybe you’ll be able to take away.
From this like whether it’s something that you could easily do for yourself everything that I’ve read or heard makes it seem like this is a really good thing to do for yourself and set a future you to not be broke and sad so here.
We go the book that we rely on heavily for this series the only financial book that I have recommends Vanguard and also my uncle Casino of functional like on top of it adult recommends the in card as well so I’m gonna look at.
That I’m not sponsored I wish right how great would that be go yeah see.
Here we go you get some tax breaks you would draw a tax free like your tax on it before it goes in to open your IRA today are you registered nope okay investing for retirement I want a Roth IRA there.
Are lots of other videos of like why like what or other areas and like why it’s a good thing to do so I’m not going to talk about that maybe I’ll like link things below or something if you want to know more about it other people have talked too much more eloquently than me on this topic that’s all I’m saying supposed to this stuff is like things that you could use to find me and.
Kill me so I’m not gonna show that I am employed okay so I don’t really know what this means well a FINRA employee or a person associated with a member of a stock exchange FINRA member firm or municipal securities dealer associated person or such as financial interest in or trading discretionary authorities over this account.
I’m gonna say no pretty sure oh no you are.
A household member a control person or an affiliate of a public company as defined in Sec rule 144 since include are not limited to 10% shareholders I’m gonna also say no.
I feel like I would know continue okay I’m gonna say odd money later continue so it’s what you’d like to.
Do with your dividends and capital gains what’s a money market settlement fund or reinvest other people have this question too okay so I do want to reinvest you just invest the money already making again Google’s amazing continue I feel like this is not that Biscay to just open so I’m just gonna assume all this is fine and say Submit okay this it’s probably something I should actually like open and read these okay I don’t.
Know this is giving me a headache I think this is fine I’m just gonna sign.
It oh my god this is just like that you won’t mess up their website or something right sure okay now okay another s this stuff is more security okay okay so now I’m picking the type of funds that I want which also according to this book I mean you can do.
This in a lot of kind of like complicated probably interesting if you’re into it ways but I I.
To do that so what I recommend is a lifecycle fund what year my even going to retire 20:56 Oh so really you so I think I think this is what I want are these like Target Retirement year whatever.
So I’m gonna say Target Retirement 2055 which is an $1000 minimum so that’s good to have that all right 2018 contribution enter.
Into oh lol 1000 so everything looks good Submit I think it did it hopefully this is all fine it feels fine so this one took me well I can look on the thing it says 37 minutes at 24 seconds that’s really not that bad.
And I even had to like Google everything and read through everything so yeah tune in next time on Finance Friday for something else maybe this inspired you too invest your own money in your own retirement hopefully I’ll still be alive by then that would be great okay my.