The BEST 5 Places To Open a ROTH IRA for Beginners!

[@scottarmstrong11]

Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.

[@frankbarnes22]

Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.

[@DaleHorne8]

I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.

[@Johnlarry12]

@@DaleHorne8 This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

[@DaleHorne8]

I'm guided by “Catherine Morrison Evans an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.

[@Johnlarry12]

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

[@Greggsberdard]

I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.

[@crystalcassandra5597]

Mind if I ask you to recommend this particular coach you using their service?

[@motavice3499]

Be careful they're scammers!​@@crystalcassandra5597

[@omararmenta5676]

Contact info of hers ?

[@HugoBergmann-lu4nd]

Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?

[@cowell621]

Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.

[@StacieBMui]

Exactly, I used to doubt the value of a financial advisor until my wife's company assigned her an investment adviser in 2020. Honestly, it’s been the best financial decision I’ve made. It helped tremendously; I went from barely making any profit to having a well-diversified portfolio that has grown significantly, with gains exceeding $850k.

[@StocksWolf752]

I’ve been worried sick about the current state of my portfolio, who is your advisor?

[@StacieBMui]

Sharon Lee Peoples is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@crystalcassandra5597]

I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@freedomisEexpensive-08]

Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding.

[@NotyourBusiness-urto6]

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

[@carter3294]

@@NotyourBusiness-urto6 I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.

[@carter3294]

@Bill Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "NICOLE DESIREE SIMON" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.

[@thomasgordon1792]

Be nice if all our after tax investments, savings and spending were treated in such a way 😮 so nice of the government to allow us to have that $6500 a year "tax free" lol Sometimes I think taxation without representation would have been cheaper?

[@209PrOdIgY]

You just gave us thousands of dollars 💵 worth of knowledge in a few minutes! Great 👍🏼 video

[@ComedorDelrico]

I have a roth IRA with SoFi and I like it a lot. It's free, no minimums, and you can buy fractional shares. The interface is Super easy to use and you can get notifications when stocks you own or follow on your watchlist move >5% in a day. They also have a convenient, customized feed of news items on companies you own so you can easily keep up with any big announcements, earnings reports, etc. My only gripe is that fractional shares are only purchased once/day, so you won't necessarily get the exact price of the stock at the time you buy a fractional share. Whole share transactions, on the other hand, execute immediately. Edited to add: I believe most fractional share trades now execute immediately. (This changed since I first left this comment.)

[@josephsaeteurn9158]

how much are the commission.?

[@ComedorDelrico]

@@josephsaeteurn9158 What commission?

[@josephsaeteurn9158]

never mind, Sofi dont have options trading.

[@TechnicalTerry]

Does SoFi have a “robo trader”?

[@ComedorDelrico]

Yes, they call it a "robo advisor". You answer some questions about your risk tolerance, etc, and the robo advisor handles the account for you. I haven't used it, as I opted for the manual version where I handle the trades myself. @@TechnicalTerry

[@chrisglazener3613]

I have my Roth IRA through Charles Schwab and I'm very happy with them!

[@JoseMora-wc5zz]

What’s your fees per year?

[@kylefroerer4898]

Saw you on TikTok first - didn't even know you had a YT. Good stuff man. Super Helpful

[@humphrey]

Glad I could help! Thanks for coming over from TT.

[@mzmonicaallday6615]

Good Stuff Humphrey! I have been wanting to open a Roth IRA and had no idea where to start. I got my homework cut out for me! Thanks so much!!

[@humphrey]

That’s awesome! No problem yw

[@JazminBautista]

We should have been taught this in school 😂

[@humphrey]

That’s why you have me ;)

[@designhub360customapparel]

They don't want us to learn this

[@skylar6818]

Girl that's what I am saying. I have no one when I was growing up to show me this.

[@theappmaster3422]

Exactly why government funded schools only want to keep the poor well poor. Big government, a no go

[@GreedyLuccheseocp]

Preach!

[@XavierBlive]

Thank you for the video, I am shopping around for a Roth IRA and this helps! Just wanted to add a precision about Wealthfront and tax loss harvesting since I was questioning myself about it. Tax-loss harvesting is only a benefit for taxable accounts. Since Roth IRA grows tax free and you can withdraw the money tax free, tax loss harvesting is not beneficial here. I have a account with Wealthfront and I enjoy this tax loss harvesting feature for my (taxable) investing account.

[@charlesciaravino]

The point made here regarding tax-loss harvesting is VERY important and could mislead many. I almost made the mistake of going with one IRA because of this statement, but I reasoned out that the purported advantage of having tax-loss harvesting in an IRA did not make sense. I think video's creator should edit the video to correct this point.

[@trucho6334]

Do we have to report our ira acc in tax report

[@SOccerisgodable]

Which robo advisor would u go with then for Roth IRA?

[@Pogson59]

Thank you for this clarification! Very important to note.

[@reeloutdoorbeauty3015]

Taught my high schoolers this and all of them kept their camera on. They can't say "I wish they taught us this in school"

[@sammyhuffaker8537]

I opened my Roth IRA with Schwab before seeing this video, thanks for the confirmation bias!

[@NormaTu545]

Excellently said, now I'm def convinced that Vanguard is the place for my Roth IRA. I am absolutely a buy and hold kind of person. I would hate to do active day trading oh my goodness.

[@humphrey]

Definitely! Thank you for tuning in 🙏🙏

[@andreacastro734]

Thank you for the video! I have been so confused. I wanted a hands off approach but I like your video on having a 3 fund portfolio. So maybe Vanguard is best. Im so glad I found your channel!

[@humphrey]

Thank you so much Andrea! Hope to see you in future videos

[@Phizzo4real]

Trust yourself... u can beat the market if u do it yourself. I knew zero about investing. Over 3 years, I have beaten market consistently by a huge margin and I don't even take a lot of risk compare to other's (eggs in 1 or fewer basket approach).

[@stephaniecervantes7972]

I love your videos . Easy to understand, direct, and fun to watch!

[@bethalunerstar4635]

Thanks for Giving us a follow up video Humphrey! Appreciate it 👍🏼

[@humphrey]

Boom you’re welcome!

[@alexpantazi5153]

Thanks for this video! What do you think about M1 Finance?

[@2commajourney2023]

so im a trader , can i use my roth ira and trade there ?

[@audreyswensen5895]

Thanks for the info, I've been meaning to open a Roth IRA but never knew where to begin. Just opened one with Wealthfront. Thanks so much!

[@humphrey]

😍

[@xgenkea]

@@humphrey wtf why that emoji😂

[@youngdisciple2]

@Audrey Swensen- now being 1yr later how would you rate ur experience with wealth front. They kind of got my attention.

[@youngdisciple2]

Forgot to link to my question

[@audreyswensen5895]

@@youngdisciple2 The platform is really easy to use, I like it!

[@Megan-oy6oo]

great info, thank you :) I want to start a roth ira but I had no clue what company. You got my likes and subscription. I'm watching a bunch of your videos rn 👍🏻

[@alrocky]

Consider Fidelity Schwab or Vanguard

[@SteveYoung49]

Living in the *Highrise* with these tips.

[@dtharley3]

Hi Humphrey, just curious. It’s been a lil over a year since you made this video, do you feel these are still the best brokerage now in 2021?

[@dlg5485]

You should ALWAYS clearly state whether or not you are sponsored by any of the firms discussed in the video. The absence of this info calls your credibility and trustworthiness into question.

[@angelramos8363]

You are correct. I believer Jim Cramer is being sued for the same reason you mentioned.

[@imelectraheart3142]

This was really helpful I've recently become serious about wanting to plan and save for my future. I wasn't sure where to begin let alone find advice that was easy to follow and understand. Thank you! I've decided I'd go with Acorns after watching this video

[@WorldstarBachata]

Thanks for the value bro! Keep hustling, the universe will pay you back in multiples!!!

[@humphrey]

Thank you Javier!! Hope so lmao

[@WorldstarBachata]

@@humphrey told you ;)

[@michaelwhite9288]

Betterment is also a great option for passive investing and the core portfolio uses Vanguard ETF’s

[@TechnicalTerry]

Does betterment have a robotrader?

[@hbduke255]

Excellent video! Good solid straight to the point video. I got the exact info I need thanks to the creator

[@ryanredding1533]

I can't seem to find the answer to this question anywhere on the web -- is it advisable to have my Roth IRA account and my brokerage account for playing the stock market at the same place? For example, if I have BOTH of those accounts at Fidelity for instance, is that okay? Or is better to have (for example) my Roth at Fidelity and then my stock account through Vanguard?

[@laurieamado5896]

I have the same question!

[@frankellis9627]

I'm surprised you didn't talk about M1 Finance!

[@LastAirElement]

Gotta love M1 Finance ❤ --- Hopefully they will add beneficiary/trusted contact options soon🤞

[@vman034]

@@LastAirElement m1 finance u can not trade on it

[@LastAirElement]

@@vman034 we're talking about ROTH IRA here. M1 is great

[@vman034]

@@LastAirElement yeah i get there there's brokerage where u can trade inside of the roth like fedelity

[@LastAirElement]

@@vman034 M1 is designed for long-term and it has 2 trading windows where you can buy/sell. People don't usually buy/sell often within ROTH IRA account.

[@victormartin7506]

Hello. First of all thanks for sharing and guide our minds through all the mess ahead.. I started a Roth IRA at BofA and then I moved it to NYL. It is setting there as a variable annuity. I want to move to a better brokerage service. What should I do Mr Yang?

[@mlstoneking13]

I needed to know this! I’ve been wanting to opening a Roth IRA but have been too lazy to research which is best (clearly I’m not going to be an active investor) hahahaha

[@humphrey]

hahaha :) Then I hope it was helpful!

[@robertoampudia1028]

Thanks for this useful information.

[@charles727727]

thank you Humphrey

[@Joren68]

I have mine in Robinhood the 1% match is nice

[@rmart008]

Humphrey! We need a back door ROTH IRA video!

[@humphrey]

Hahaha it is coming someday, I have it on my list of to dos, just some other great videos coming out soon.

[@rmart008]

@@humphrey can’t wait 🙂

[@alrocky]

@@rmart008 Contribute $6,000 to traditional IRA > convert that $6,000 t-IRA to a $6,000 Roth IRA.

[@letsgethealthy2048]

First of all thank you for posting all the great informations🙏 I am super new to all this so currently have 401 k with Fidelity. How do I or can I rollover to a Roth. If so how do I do it? Thanks so much!

[@evelynochoa6918]

I have the same question please If you can advise us god bless

[@jaimejerez3049]

Great video! Thanks

[@alfonsodelima425]

Great channel I just subscribed!

[@castelarfinance1043]

Thanks man! for the information

[@humphrey]

No problem

[@PakZa808]

I have a small ira in a credit union but don't think they are efficiently using the money in the account and was wondering if it is difficult to roll over the monies from the credit union account to one of those robot investor accounts (I am really a super, hands off investor in my roth ira)

[@opalhall1834]

What do you think about Primerica for opening a Roth IRA account?

[@evelynochoa6918]

Spoke to someone there and she never got back to me red flag for me

[@catricesida8322]

Love these videos! I watched every tiktok even though I don’t have an account. What are your thoughts on the Digit App retirement and investing account ?

[@humphrey]

Thank you Catrice :) I actually personally havent tried Digit, but maybe that is one for me to review since I hear some people asking about it.

[@baldeagle242]

Where do you get the graphic overlays for your videos? 🦅🇺🇸🤷🏻‍♂️

[@juancarranza4731]

Opinions on webull?

[@oz-wealth8629]

Thank you so much Humphrey , Question : if your Roth IRA has 4 index funds , can you sell 3 of them and buy more of the 4th one . I got bonds , international , S&P 500 , and total stock market index . I am thinking to sell the first three and buy with the money more of the total stock market index ??? is there a penalty , or taxes apply ???

[@humphrey]

Yeah you can do that. Taxes shouldn’t apply since it’s in a Roth

[@gofman1109]

Don't need to care about tax in Roth IRA. Any account with management fee is a bad recommendation

[@VOICESEnglish]

Thanks for this video

[@shujayethossain6554]

Can I have both ROTH IRA and 401K at the same time if I am self-employed? And with the ROTH IRA, do I have to deposit money every month/year or I can deposit it every other year? Thank you!

[@brandonnewyork11]

What do you think about M1 Finance?? Just subscribed by the way 👍🏼

[@samsmusichub]

Solid info, thanks!

[@livinthedream4479]

I have TD Ameritrade but it is merging with Schwab so I’ll stick there I guess

[@barzae]

Hello I have a question which is the best option to begin saving money for my child?

[@nourthemedic]

I love your videos! I keep recommending your videos to all my friends and coworkers to learn about investing and better financial decisions!!

[@skyheat2]

Hey, I have to ask you what robo advisor app you use and which one is better in you own opinion , and what personal portfolio you use for your ROTH IRA to maximize your investment

[@wolfyedits4674]

I love your information...

[@nicholastan6669]

Dude you kick ass

[@humphrey]

thanks!! im gonna keep making videos that help people.

[@buck6089]

Humphrey! What is your opinion on fidelity go? I’m new to the 401K I’m 23 years old and want to get something started but no absolutely nothing about stocks.

[@alaynarangel4947]

Thank u for this video! I’ve been trying to open a Roth IRA with Vanguard for the past year now. And their website isn’t allowing anyone else to become a client. Where should I Go? Should I open one with my Star 1 Credit union account? Thank you!

[@javiachan3993]

My issue is not knowing what to do after I open a Roth IRA. Do I have to know where to invest? Say I want to invest in 'XYZ' ETF, do I search for in and select it to invest? I have watched many vids but none show the steps after opening the acct.

[@mariabarker2036]

My first IRA, I chose a target date robo option, where Schwab did everything for me, because I was beyond ignorant. I've learned much since then, and probably won't choose that again. But I'm NOT sorry I did it then.

[@djfame091]

Hey Humphrey, what are your thoughts about SoFi's robo-advisor? I am not seeing many videos on this. I just opened a an ROTH IRA with them and am now second guessing if it was a good pick.

[@RT-ov5om]

Great video, Will you please compare all the robo advisors , there are no good reviews about newly announced SoFi. What you think of SoFi ?

[@rom668]

Very well spoken, subbed!

[@allthingsarion7489]

Great video, thanks for sharing

[@risa-ru]

What are your thoughts on betterment as a robo advisor?

[@michaelflanagan6556]

Hey humphrey, not sure if you will see this. But i just got a job that is actually starting my career. And their 401k is through fidelity and i chose for the roth ira option. Now that being said. Should i still do my own personal roth ira through fidelity??

[@smoothoperator7438]

Hey what do you think about Sofi ira an investments

[@Andrei-Rex]

No Betterment?

[@joshuaramirez1656]

What if you already have a Roth IRA within a mutual fund… had it open for two years, would recommend withdrawing all your contributions and move it into a robo advisor or different online brokerage?

[@danapalacios3209]

I have a Roth IRA with Merril Edge. Should I switch to vanguard? I don’t know what to do eek!

[@BelyMac]

Merrill edge thru BofA is pretty good

[@MrPasdol503]

What about a Roth IRA with WeBull? Would you recommend it?

[@tamariusgames9919]

I have my roth through webull and i haven’t had any issues so far

[@mr-toyota]

Hey hector, it's now a year later and I understand that but one thing to consider is that you may want your Roth IRA to be American based, webull is a Chinese platform. If anything ever happens that sours the Chinese view of America who knows what could happen, but beyond that by going American based your money is closer to home and in some cases you may be able to walk into a brick and mortar location to talk to an advisor. Just a penny for thought!

[@rubenmonroy4841]

Can I have a vanguard index fund with a fidelity Roth ira? Or should I keep both at vanguard ?

[@viclucy-personalfinanceinv7533]

Great video! I've been looking at other places for Roth IRA accounts. I have betterment right now. I do have a charles schwab checking account so I might just go with them!

[@humphrey]

Perfect! Yeah I think Schwab is a good place to start :)

[@brucerowe2895]

vic & Lucy if you have a checking account with Schwab, you should also have an individual account with them. Just add an account and open a Roth account. Real easy. Schwab tells you how much you contributed to your Roth throughout the year. Be sure you use their ATM card at any ATM machine Schwab pays the fees.

[@a1534-d7k]

thanks buddy

[@TheLazyJAK]

Can you please review SoFi roth ira

[@danzii4992]

I came to this video to learn of other places to open a roth because currently already have an account with Vanguard and yes they have the time tested durability but a past CEO took money out of people's accounts, so I don't trust it anymore.

[@kito1san]

How about a self directing Roth IRA?

[@minchoi6535]

I really like this brilliant guy!

[@Ryan-iq2zd]

Hi! I have an individual Investment account and a savings account with Wealthront. Would you still recommend opening a Roth IRA, especially since I don't have a 401k? Is investing in stocks on your own a better option?

[@dewaynecampbell9524]

M1 is awesome.

[@bryancabral]

How does investing in a roth affect your tax season? Isn’t it already taxed when it goes into it? Just confused about the wealthfront portion of the video when they account for losses.

[@Smil3yy95]

What about betterment ?

[@JFairhart]

I want a self-directed Roth IRA, any recommendations?

[@georgeesparza174]

I'm new to investing but interested in a Roth IRA. I'm late to the game so looking for best option

[@jikansojagmail5304]

Message me now for help

[@angelicagarciaherrer]

I'm a beginner and really need help! Should I start with Acorn? What do you suggest?

[@jikansojagmail5304]

Kindly message me now! I can help you sincerely

[@angelicagarciaherrer]

@@jikansojagmail5304 how can I message you? Can you message me in dm?

[@jikansojagmail5304]

@@angelicagarciaherrer what's your email address¿ Let me message you now

[@ruckahh5280]

Kinda regret going with a robo advisor, should have done some research and opened one I can control the investments on

[@mikez423]

Why is that? A lot of people have good feedback

[@akin242002]

@@mikez423 Robo advisors underperform and over charge. A person could use only a Total USA stock market Index mutual fund or ETF and outperform all Robo advisors in a Roth IRA. Also it would be significantly cheaper. Fidelity: FSKAX (No account fees & 0.015% expense ratio). Schwab: SWTSX (No account fees & 0.03% expense ratio). M1 Finance: VTI (No account fees & 0.03% expense ratio). SoFi: VTI (No account fees & 0.03% expense ratio).

[@kingjroyal2896]

I’m a beginner, is chase bank ok to open a Roth IRA with ? Please help me

[@edwardkellogg784]

I’m 18 and I would like a financial advisor or mentor because I opened a Charles Schwab account however it is difficult to use and I’d like to open an account that’s easier to use for me

[@andrewpayne5233]

What are your thoughts on Betterment?

[@humphrey]

Great platform for beginners, yeah!

[@julianezhen4460]

What about TD Ameritrade?

[@ryanbarnard9272]

What’s your opinion on Robinhood?

[@wilmariemalavez]

Which one of them charges the least? Acorns charges $3 monthly

[@Carlos-iu9ih]

Thank you for that great info! Towards the end of your video you mentioned you can have multiple roth ira accounts to try which you like best. If I was to that can i go and combine them all into one once I decide which I like best?

[@humphrey]

Yep you can transfer your IRA assets

[@humphrey]

You’ll be able to do that.

[@Carlos-iu9ih]

@@humphrey thank you!

[@Marisolita06]

Humphrey Yang if you transfer the ira assets to another combined account would you be loosing any money because of penalties??

[@alrocky]

@@Marisolita06 What penalties? An IRA custodian _might_ charge you an _exit_ fee to transfer/close an account.

[@davidvasquez4090]

I would like to get invested with the Roth IRA but I need more info

[@DR-qo4cd]

What about webull ?

[@mrhabanerohabanero1839]

Is mtc a good company to keep my ira?

[@RubenTorres-lg5ow]

I dont know much about the investment world but im slowly learning, the first step people always say is to open a roth ira, im currently stuck between charles swabb or acorns, which one should i get if im basically really really new?

[@RubenTorres-lg5ow]

Also where should i start learning more?

[@humphrey]

Acorns is easier to use a complete beginner. But you’ll learn more if you can figure out the Schwab platform

[@humphrey]

Continue to watch KZbin videos, google things you don’t know, watch my channel haha

[@vm8737]

I have a Roth IRA through Edward Jones, what do you think abouts them?

[@AH-ef2se]

You left out Fidelity. What about their Roth IRA for passive investor that wants to open Roth IRA w Fidelity and let them manage it. Can you do a review on them? Thank you

[@Jfresh55]

Watch the video again. Damn