Rollover 401k into an IRA on M1 Finance and retire with over $3,800,000

This video is a full step by step walk through for opening an IRA and rolling over your old 401k. I will also show you what to look for when selecting investment funds to help you get the best returns for retirement.
If you want to skip ahead to some parts check out the time stamps below:
0:00 Intro
1:34 Retirement Savings Falling Short
2:40 Registering and Logging into M1Finance
6:20 Open an IRA account
9:46 Finding Investments Funds
10:40 Comparing Investment Funds
16:15 Selecting Investment Funds
19:15 Rolling Over 401K
23:35 IRA’s I Have
24:53 Funding New IRA Monthly
26:43 Max IRA Contributions per age group
27:28 Running the numbers for retiring with over $3,800,000
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The information presented in my videos are for entertainment purposes, and should not be taken as any legal advice. I am not a financial advisor. Keep in mind any kind of investing comes with some level of risk. In this video I am just sharing my opinions when it comes to investing. Always do your fair share of due diligence, and when in need always seek the additional advice of a licensed advisor. I am not liable for any losses you might experience.
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#m1 #ira #401k #retirement #investing #stocks #rollover #m1finance
*Should I invest into pre-tax or post-tax 401k?
*Is it better to do a Roth 401k or a Traditional 401k?
*After tax 401K and Roth 401k EXPLAINED.
*How Roth and After-tax 401 k retirement accounts differ & which one to choose?
*Becoming a Millionaire: Roth 401k vs Traditional 401K (Which one makes the MOST PROFIT).

[@chikeonyema4451]

This should have over 1M views! Thanks for sharing, very valuable and insightful content.

[@positivefinances2416]

Thank you very much. Glad to be of some help to you.

[@chewie1355]

Thanks. Thinking of moving from Empower to M1

[@positivefinances2416]

They both have their pros and cons. I personally like the pie system on M1 for sure.

[@clearskiesart2670]

This is information that I needed!

[@positivefinances2416]

Glad to be of help

[@rolandovillalbasalas8906]

Nice thanks for the info spot on 👍

[@positivefinances2416]

Glad it was helpful

[@j.s.9960]

Thanks, so much

[@positivefinances2416]

My pleasure 👍🏼

[@mariabarber105]

Your video was so helpful! It’s exactly the type of information I was looking for. I am wondering though, why choose M1 Finance over Betterment or Vanguard?

[@positivefinances2416]

Glad to hear it was helpful to you. I am not familiar with Betterment, but I did have an account with Vanguard before changing over to M1. M1 to me is easier to use on my phone, and the computer website has a better layout to make it easy to find funds to research. The main and biggest reason I transferred from Vanguard to M1 was because of the ability to buy fractional shares. I am still able to invest into Vanguard ETF’s using M1, and I can now buy them as fractional shares. When I was with Vanguard I had to pay full price for a share at the time and that was frustrating to me. Great question.

[@mariabarber105]

@@positivefinances2416 Thank you for your answer. I’m in the process of doing a rollover from an old 401k with my former employer, and I’m trying to figure out which brokerage I should open an IRA with. Again, your video was very helpful and I’ll continue to do my research on M1 Finance and other alternatives. Thank you!

[@alinagomez4797]

I need help, I still have money at my old employer and it’s been 5 years since I left

[@positivefinances2416]

Hello Alina, Do you know which broker your previous company was using? For example Fidelity, Charles Schwab, Empower, T Rowe Price, or other possible brokers?

[@JohnJohn-nt9mf]

Correct me if Im wrong. If you rollover your traditional 401k to Roth, it is a taxable event right? and if you Rollover your traditional 401k to Traditional IRA it is also a taxable event since the money you put in to traditional 401k is pre tax?? How about that option at the bottom part "Rollover" in choosing the account type?

[@positivefinances2416]

Hello John John, yes if you rollover a traditional 401k into a Roth IRA you will trigger a taxable event. This is why it is very important to only rollover a Traditional 401k into a Traditional IRA. Rolling over a Traditional 401k into a Traditional IRA is NOT a taxable event. It is also best if you have a Roth 401k to only roll it over into a Roth IRA. In most cases you will end up with 1 Traditional IRA and 1 Roth IRA. This is perfectly normal and it is exactly what I have.

[@zuleycachavez9592]

How often do you recommend to invest. Weekly, biweekly or monthly?

[@positivefinances2416]

Neither option is wrong. The most important part is to be consistent. Personally I prefer to invest on a weekly basis. The main reason I prefer weekly is because it gives me a feeling of consistent progress, and it helps to keep me motivated to continue working hard towards my goals. Great question. 👍🏼