Have you made any of these mistakes with your Roth IRA? - Enjoy! If you want to learn more about the Roth IRA, I have many more videos linked in the description of this video!
lol I started mine like 2 weeks ago and it’s gone way down. But I’m not getting discouraged because I have at least 40 years until retirement. I think the main thing is to like what you chose and then not get stressed when it goes down, because it will overall go up by the time you need it (assuming you are young)
I'm a bit late to this. Say i have roth 401k with my employer that certain percentage was deducted from my paycheck to my roth 401k. Now, can I open Fidelity roth IRA instead of the one my employer uses, then put in a lump sum 7k after tax straight from my bank to this newly created roth IRA with Fidelity?
Hey no worries and great question! The Roth IRA is completely separate from the 401k. So yes, with your after tax money you can then open your own Roth IRA and you can do as much as you want up to the $7,000 limit for 2024. If you're new to the Roth with Fidelity, you may be interested in my Fidelity content. Below is a playlist if you're curious: th-cam.com/play/PLL80XtVsEZjN7ichqUUvP54qpYQ4lVS46.html Thanks for watching my content!
Hey, so I researched this deeply and found they are actually extremely similar. FXAIX has been what's worked for me and because of statistics in comparing, I believe it is a personal decision. To learn more about it, here is the video I created on Fidelity Zero Fee Index Funds: th-cam.com/video/n3Zk35p8Lvg/w-d-xo.htmlsi=cjnkMs79xXlFgdq5
@DannySully I did the same, but I chose FNILX because they have the same YTD but free. It will be a great idea to make a comparison video between Zero Funds FNILX vs. FXAIX. PRO AND CONS. Problably, I am doing the #6 mistake without knowing.
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Have you made any of these mistakes with your Roth IRA? - Enjoy!
If you want to learn more about the Roth IRA, I have many more videos linked in the description of this video!
Great information
Thank you so much!
Great content! Do you divide your investment evenly between small, mid, and large-cap or do you have a ratio allocation? Thx.
Great question! I do not do evenly, I keep majority with a large cap fund!
Excellent information!
Thank you so much!
Can you max out you Roth IRA and Cappers 457 ($22,500)?
should i start a Roth IRA now since the stock market is crashing ?
Yes, you're in it for the long run. Also you'll be buying everything at a discount
Time is your best friend. More early much more better. DCA.
lol I started mine like 2 weeks ago and it’s gone way down. But I’m not getting discouraged because I have at least 40 years until retirement. I think the main thing is to like what you chose and then not get stressed when it goes down, because it will overall go up by the time you need it (assuming you are young)
Yes why would wait? Ira is long term no matter whether the market is up or down.
Yes. Now is the time to buy
I'm a bit late to this. Say i have roth 401k with my employer that certain percentage was deducted from my paycheck to my roth 401k. Now, can I open Fidelity roth IRA instead of the one my employer uses, then put in a lump sum 7k after tax straight from my bank to this newly created roth IRA with Fidelity?
Hey no worries and great question! The Roth IRA is completely separate from the 401k. So yes, with your after tax money you can then open your own Roth IRA and you can do as much as you want up to the $7,000 limit for 2024. If you're new to the Roth with Fidelity, you may be interested in my Fidelity content. Below is a playlist if you're curious:
th-cam.com/play/PLL80XtVsEZjN7ichqUUvP54qpYQ4lVS46.html
Thanks for watching my content!
@@DannySully thanks Dan. I researched those videos in your channel and pulled the trigger yesterday already. Thank you for your informative videos.
Why are you not buying FNILX?
Is zero fee and track large cap companies.
Hey, so I researched this deeply and found they are actually extremely similar. FXAIX has been what's worked for me and because of statistics in comparing, I believe it is a personal decision. To learn more about it, here is the video I created on Fidelity Zero Fee Index Funds: th-cam.com/video/n3Zk35p8Lvg/w-d-xo.htmlsi=cjnkMs79xXlFgdq5
@DannySully I did the same, but I chose FNILX because they have the same YTD but free.
It will be a great idea to make a comparison video between Zero Funds FNILX vs. FXAIX. PRO AND CONS.
Problably, I am doing the #6 mistake without knowing.
I haven't done it because FXAIX has a longer track record, that's my only reason