Thread 60837802

Is Roth IRA worth it?

this is a crypto board

retirement accounts are for losers

>>60837806
you are right this is a board for gambling losers
kind of like how /pol/ is for minorities and alt-righties and /tv/ is for alt-righties and pedos
just another board completely subverted from its original purpose by incompetent mods
/a/ remains the best board with the best mods.

>>60837816
it's not gambling, fiat is a scam and you're too stupid to do the math

>>60837802 (OP)
Obviously, yes. Although, if you want to retire early, you would also want to invest in a taxable account as well.

>>60837802 (OP)
100% worth it, don't get baited by shitcoin retards still scrambling to have $10k after a decade of pumps. rIRA has no equal in tax advantages for normies without an LLC. It should be the first thing you cap, every single year, before investing in anything else

>>60837816
>/a/
last time I was there all they talked about was seasonal slop so I spammed hunterchad memes to bait them.
Also /biz/ was literally created as a containment board for crypto away from /g/ this is a crypto board

>>60837802 (OP)
Yes, get a self directed IRA contribute max amount each year, and use the Jew $35k per year 401k rollover loophole. Buy 15% allocation of IBIT and ETHA sell weekly covered calls on these, and a 30% balanced portfolio of blue chip and dividend stocks, allocate 5% in a gold ETF that you can sell covered calls against. Then put the remaining 50% in holdings that track the WhaleIndex 20 V2 holdings and rebalance quarterly.

>>60837802 (OP)
>RA
no.
i am NOT waiting 40 years to use my money, fuck you

>>60837816
>subverted from its original purpose
this board was created for crypto, newfag. go back.

>>60837802 (OP)
>Is
*will it be

>>60837878
Which brokerage do you use ?

Yes, anything you contribute to a Roth IRA you can take out before retirement tax free. So you literally might as well just max contribute to the Roth IRA even if you don't invest in any stocks and you keep the account in cash.

>>60837812
I trade crypto out of a retirement account like Bob Loukas. No taxes, lots of options. At the end of the bull run I'll put some into vacation real estate through an IRA. Again, no taxes.

>>60838089
God Brazil looks comfy

>>60838114
That's the goal my man. Just need alts to cooperate.

>>60837882
See >>60837960

>>60837960
100% wrong, the penalties are not as severe but they are significant

>>60838089
Oops forgot to add in an IRA you can also move the crypto money into a "normal" IRA and trade stocks during the Bear market. Or you can just put in Fidelity and get 4% during the bear market. Again, no taxes lots of options. Get it yet?

You can withdraw up to 60k a year Tax Free from a regular Taxable account. As long as that is your only income.

Capital gains has a 0% tax bracket of anything below 47k per single person and there is about a 15k Standard Deduction you can also apply.

So if you are retiring you dont need to have a tax advantaged account if you are taking out less than 60k a year to live on.

60k a year is plenty of money to live off of. Its the Median Wage for anyone in America. And most people who are retired have way less than that anyway.

TFSA mogs Roth IRA

T. Canada

If you get 20k a year from SS that means you can take out 40k from your Taxable account.

Together your only making 60k a year so you wont be paying anything on capital gains unless you have other income or take more than 40k out.

If you have 1mm in VOO and you follow the 4% rule you can take out 40k a year and your investment will still grow every year. You wont be depleting your principle. So if you had kids you could still leave them a retirement fund when you die.

>>60837806
Fidelity literally has bitcoin roth ira

>>60837802 (OP)
No. I don't trust that withdrawals will remain tax free.

>>60837882
You can still keep most of your money outside the roth. Or do you just plan on being homeless at 60 and saving nothing at all?

If you can take out 60k a year that means you need to keep all your expenses at 5k a month.

If you have higher expenses than this you will need to setup the Roth IRA or some other tax advantaged account. But if you can live on 5k a month then you dont need to. Its better to have a Standard Taxable account because you can fund it faster if you have the money to put in it.

>>60837816
kek, I cashed out my retarded roth ira and put it all in link when it was $7, its staked now so cope about it. Maybe when your 60 you can use your own money to make some money.

>>60837903
Fidelity

>>60837802 (OP)
>Taxed
Lol!!!

>>60837816
Of course the animechomo has the shittiest opinion around.

>>60837886
4chan was created by a faggot, to talk to other faggots. /biz/ is a newfag to the board.

>>60839053
Post gumline, cletus

>>60837960
>>60838138
Holy shit do you zoomer faggots not try to learn anything?
ROTHs are post tax money IRAs. Meaning it's money you already paid taxes on earning it. Any money you contribute to a ROTH, (The base) you can withdraw with out penalties. However any gains you made, and try to withdraw will be taxed. You can start withdrawing from a ROTH IRA at age 59-1/2 without penalties and pay no taxes on anything.
Another advantage of ROTH over a regular 401k is Roths have no required minimum distributions (RMDs). You can keep investing and earning until you die. The 401k accounts require you to start withdrawing a percentage of your money at age 73.

>>60837802 (OP)
>>60839081

Looking forward to living off of dividends from S & P 500 index fund held by a Roth IRA.
Tax free income for life...
The SNAP program (food stamps) considers both income and assets, but qualified retirement accounts like Roth IRAs are excluded as assets for eligibility purposes in most cases.
I may even become a welfare nigger and get food stamps, free lobster for life.
Roth IRA withdrawals are basically identical to withdrawing from a saving account as far as the government is concerned.

>>60837802 (OP)
only if you're in the first two tax brackets when you contribute
do the math and you see you always come out behind if you're in the 22% (or greater) bracket

It’s a trap to keep your money tied up in equities, just like 401k. A regular IRA has a better tax structure, especially if you’re single

>>60839211
Please explain. I make about $400k a year and only have $20k in a Roth I started in high school. Haven’t been able to contribute to it since I make too much, but was going to explore rollover loopholes. Why does the math show you don’t come out ahead?

>>60839053
>buy small
>cash out big
>buy some gold
>repeat

weird psyop

>>60837802 (OP)
Roth is amazing for daytrading BTC/ETH etf's tax free

>>60839238
Nevermind, I think I've confused myself and that analysis only works if you're picking between trad IRA and Roth IRA.

>>60839281
It goes that Trad IRA should be the priority if your highest tax bracket is the 22% bracket or above. Since the worst case scenario is you'd be in the 20% capital gains tax bracket when you retire and are pulling money out. So you're saving at least 2% in taxes (paying taxes now or later is the exact same, if you didn't know, do the math).
Then Roth IRA is the priority if your under the the 22% income bracket for the converse reason. Better to pay the 10%/12% now than the 15%/20% capital gains later.
But both are of course better than taxable.

>>60837806
You can trade crypto indirectly by buying MSTR or Coin or the ETFs.
With a ROTH IRA you can day trade these at a whim without any tax implications.

>>60839289
>Since the worst case scenario is you'd be in the 20% capital gains tax bracket when you retire and are pulling money out.
Nevermind, confused again. It's income tax brackets. Still, the logic holds, hopefully you'll be making more money in retirement than right now.

>>60837802 (OP)

>Roth

Do none of you get utterly repulsed hearing this jewish name? NONE OF YOU?

>>60839316
https://youtu.be/OitRgFjpnKs

I'm doing a pre-tax 401(k).

>>60839479
Pre-tax 401k only makes sense if your marginal tax rate is over 25%.

>>60839050
jeet post

>>60837878
>$35k per year 401k rollover loophole
are you talking about mega backdoor Roth? my employer doesn't allow after-tax contributions.

>>60838121
https://www.youtube.com/watch?v=rZg8q1bKBDU

>>60837802 (OP)
I wont live past 40.

>>60839081
>You can start withdrawing from a ROTH IRA at age 59-1/2 without penalties
WOWZERS!

>>60839316
I do. I miss the Irish Republican Army though, that was so cool when they blew up Lord Mountbatten and his family.

>>60837802 (OP)

Yes.

>hit your make it number at 40
>its in a Roth
>forced to work until 60

Reminder that a frighteningly large amount of people think it works like this, including high earning "smart" people.

>>60840628
Good luck hitting your make it number in Roth at 40. Contribution limits are too low.