Roth IRA: What It Is and Why I Don't Have One

Everyone says to invest within a Roth IRA. I explain what it is, and why I don't have a Roth IRA

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Today we're taking a look at the legendary Roth IRA. Hailed as the #1 retirement investment account in the world, I want to explore what it is exactly, and why I don't personally have one. So - what is a roth ira?

I share with you my robinhood app account and show you my dividend growth strategy for early retirement. Before discovering this strategy, I used vanguard's roth ira and I invested into index funds but I've always been fascinated on how not to pay taxes.

So a roth ira is a "tax advantaged account". Originally known as the ira plus, the maximum limit on contributions was just $2000 and limited to people with very low incomes. Nowadays, the roth ira has a maximum income cap limit. However, a roth ira itself is NOT an investment.

A roth ira is an account that contains the tax advantaged investments themselves. For example, you can put growth stocks, dividend stocks, mutual funds, bonds, CDs, and cash inside of this investment account. The idea is that you can pay taxes on your income now, and withdraw your money post capital appreciation absolutely tax free.

However, there are pros and cons to holding and investing within a roth ira for someone in my position. Today I want to properly explain this retirement account and show you the advantages and the disadvantages of having a roth ira

Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!


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