Roth IRA: How To Go From $542 to $1 Million

Would M1 Finance suggest what’s good to invest in?

Hello,

I’m a little confused here and wondering if someone would be able to help me 😅. So I opened a Roth IRA account with chase and my thought was that by simply putting in money weekly and leaving it alone would grow. I understand that I need to max out every year (6500). Do I need to invest or buy (not sure what terminology to use) etfs, stocks, etc. after I have maxed out or once I have money into the ira, (I’m guessing enough to buy etfs or stocks) ?

If so what etfs or stocks should I consider buying for long term investment. Now, after buying them they would eventually be reflected back into the ira account and thus adding to my maxed out amount for the year?

Thank you!

I have a Roth IRA and just put 3 grand into it I’m gonna be budgeting untill I have 6 grand in my Ira and then I’ll start saving my money so come January 1st I’ll just put another 6k into it

Thank god this video came out, I have exactly $542 to invest in an IRA

MAGI eliminates my wife and I. The government will always find a was to dazzle us with smoke and mirrors.

Is there a maximum amount of money that you can open a Roth IRA with?

Hi Jarrod, your video is very informative. I’ve learned a lot from it. May I ask is Apple and Tesla a good investment in our Roth IRA?

Only the government would penalize you for retiring early. Fucking vultures.

My favorite platform was Scottrade but that was bought out by TD Ameritrade. And then that was my favorite but now that’s been bought out by Charles Schwab. What’s next?

I hate to say it, but with most of us, we won’t be able till we retire until we are 6 feet in the ground

In my Ira I have S&P 500. Reality incom Apple nvida And Gladstone all dividends are reinvested.

except inflation will make that chump change by the time you can touch it and that's assuming the US dollar maintains it's dominance

What if the market takes a shit? Roth IRA is bullshit

Does the 6000-6500 initial contribution include rollovers from employers/previous employers? If someone did a 20k rollover from a job would that be heavy tax penalties???

Please tell us what you have in your Roth IRA account.

What company should I go with.

1 million is peanuts.

Shoot for $5M minimum, especially if you’re retiring 10+ years from now.

How does a 19yr old self employed person open an IRA.

I have M1 Finance since 7/31/2017, funded my Roth IRA and try to contribute the max every year. As of today +13,502.17 in gains and 24,334.21 in contributions, not too bad. I switched all my funds to 1, JEPI. Love the monthly dividends and don't have to be stressing over market movements.

So all i have to do is put a certain amount of money in the account a month and its gonna grow by itself

Being 27, this was super helpful. Thank you Jarrad!

If you retire tomorrow, they are saying you need $1.7 million. Imagine what that will be in a few decades. Probably a strong axe, a gun with a bunch of ammo, and a way to stay alive in the post apocalypse world.

Can I do short trade in Roth IRA what would be the penalty

Your honest opinion would help me out should I keep putting in 500 a month or just put 6500 in every year in April are there any pros or cons thanks again

Can anyone simply explain what MAGI is and why there is an income limit to Roth IRAs?

Do we have to be a US citizen to open a roth ira account

If your under the income limit for a Roth IRA can you still contribute $6500 to each Roth and Traditional to do a rollover so you can essentially contribute $13,000 Roth per year? My work offers Roth 401k but the investments options aren’t great so looking for an alternative.

I'm annoyed at myself for not opening a Roth IRA before this year. I'm 49 and just opened one. I have substantial 401K and IRA but for whatever reason didn't do a Roth.

I plan to work for at least 10 to 12 more years, so I'm going to try to max it out every year until then. I may also do some conversions at some point.

I can only do $500 per month, but let’s see..I’m almost close to finish my car payment this july..I will start putting money on my Roth IRA

@ 62 Am I to old to consider a Roth ?

What is the logic making it so that I am not permitted to contribute to a Roth IRA? I make over the arbitrary limit. Shouldn’t the government want me to pay my high taxes before investing in an IRA?

I have a Roth IRA but only $400ish goes in per month

If I am older than 59.5 is the good idea to open Roth IRA ??

I want to share this video with a Roth IRA Hesitant friend. But at 11 minutes it's too long for him. And prolly too long for anyone just getting in to Roth IRA. That demographic wants the super organized 3 minute video. There's alot of subconscious emotion involved for people who are starting on $0. For them, starting on $0 feels worse than never opening IRA at all.

My Roth made 43% one year with Trump in office.

Fidelity’s app is definitely better and does everything that he’s saying the M1 interface does.

No one ever mentions my choice of IRA, Marcus by Goldman Sachs. What’s up with that?

yesss the old school reference hahahaha

I am getting serious Bradley Cooper vibes here...

Should I just start a Traditional IRA if I know I will make the threshold in about 2 years?

Modified, adjusted, and gross, are all the same thing right? 🤣

Is there a minimum you have to contribute every month? And do you have to contribute every month?

You gonna pay for my eggs diapers utilities etc lol

I swing trade in mine a lot cause there’s no fines

How is vanguard ROTH? And do you recommend only focusing on ETFs or mixing in aggressive stock?

can I max out my works 401k and max out a roth ira? or is $6500 the combined max?

M1 roth ira vs robinhood roth ira?

Very informative and helpful!