The ROTH Strategy The Rich Use To Make $1M TAX-FREE

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11 сен 2024

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Комментарии : 85

@EmanuelAguilarcampos 2 месяца назад

I usually watch your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities who don't get the help they deserve. Thank you John Preston, imagine investing $20,000 and getting $210,000

@ManuelNewell 2 месяца назад

Please how do I go about it, am still a newbie on investment trading and how can I make profit?🙏🙏

@EmanuelAguilarcampos 2 месяца назад

HE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.

@EmanuelAguilarcampos 2 месяца назад

@hoodsignal ⭐⭐⭐

@ManuelNewell 2 месяца назад

Thanks for the information... I will contact him as soon as possible. I also want to gain good knowledge and stop losing..☺🙏

@virginiakershaw6119 2 месяца назад

Ich stimme zu, dass es Strategien gibt, mit denen sich unabhängig von der Wirtschafts- oder Marktlage solide Gewinne erzielen lassen, aber solche Umsetzungen werden normalerweise von erfahrenen Anlageexperten oder Beratern durchgeführt..

@Despolos-ie2qs 2 месяца назад

With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build your dream life

@mikecouthor 2 месяца назад

Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $20K into trading from just few months ago and now they are multimillionaires

@mikecouthor 2 месяца назад

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Dorian j Townsend.

@SamRowe-pink 2 месяца назад

Good day all from Australia . I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?

@RealestateMartha731 2 месяца назад

YES!!! That's exactly her name (Dorian j Townsend ) so many people have recommended highly about her and am just starting with her from Brisbane Australia🇦🇺

@RealestateMartha731 2 месяца назад

she's mostly on Telegrams, with the user name.

@henrynguyen9894 Месяц назад

With a Roth IRA my income is around 8.4K a month. Now when I put money into the Roth IRA what do I do from there? Buy specific stocks etf etc.? Or does the account automatically invest your money how specifically does that work?

@gobot4455 2 месяца назад

Reminder: you can convert a total of $35k from your 529 to Roth IRA if you have the account open for 15 years and have contributions older than 5 years (iirc). You can max out your kids' ROTH IRA and save for college. I opened up the 529 the day my kid was born and add $7900 per year until 10 years (min). The key to financial success isn't hard work, it's discipline. Most people don't have that discipline.

@Skott62 2 месяца назад

$7,000 a year is like $583 a month. A lot of people just cant do that. Maybe after their kids are grown and they are 50+ years old.

@steve99912 2 месяца назад

Anybody can do that..just make an extra 20 bucks a day.

@Skott62 2 месяца назад

@@steve99912 No if your in your 20s or 30s with kids its hard when there are so many other things are needed to use that money first. If it was easy everyone would be doing it.

@DRventura333 2 месяца назад

$20/day is equal to removing just one fast food meal each day - doable.

@HichigoShirosaki1 2 месяца назад

That's easily doable. I did that while making 40k. That's just matching the 20% savings rate recommended by finance experts, and most people make more than 40k now.

@allowishes1 2 месяца назад

It can be done if you use your income tax return at the beginning of each year.😊

@edgarzamudio3907 Месяц назад

Hi Mark I’m a retired correctional officer (54) in California,I’m collecting Calpers retirement.Can I open up a Roth account and if so can I do a back door Roth?Thanks

@HichigoShirosaki1 2 месяца назад

What you are suggesting is essentially just paying the difference of what an employer could match you in the 401k but don't. What I am confused about, though, is how exactly to use a Roth IRA to fund things like businesses outside of the market while the money remains in the Roth IRA. Like, how can I start an LLC with the money in the Roth IRA without actually taking the money out?

@JosephReyesCPA 2 месяца назад

The process would be to engage Mark's IRA team to tee up the process for you. It's totally doable. You just need to make sure you have the right experts on your team. I'm one of Mark's Certified Tax Advisors so I know first hand that it can be done...

@steveking8548 2 месяца назад

10% is a conservative rate of return? I would say 6% is a conservative rate of return. American Greed says anything over 10% is a scam. And why do salesmen like to use their own first name so much???

@jipingfeng9961 15 дней назад

Mark, I liked the content and watched the video twice. At 9:34 into the 33:01 video, the diagram indicates that for individuals aged 50 and above, the total allowed contribution is $84,500, broken down as $8,000 for Roth IRA, $31,500 for 401(k)/Solo, and $45,000 for after-tax EE contributions. Should these amounts instead be $8,000, $30,500, and $46,000?

@thechriswallin 2 месяца назад

The problem is is this is all someone with an employer that actually offers a 401(k). What about us that our self-employed or at a job that is well paying but does not offer for a 401(k)? Are we stuck with the $8000 contribution every year?

@JosephReyesCPA 2 месяца назад

Probably not going to be a problem. I recommend you consult with Mark's IRA team to see how your particular situation fits into this strategy. Self-employed people have lots of options...

@lovinglife3954 2 месяца назад

Thanks for giving single and married. So tired of people focusing on numbers for married only. After learning about basis a few years ago, I contacted my mutual fund company and they told me they only keep so many years of records, it's my job to keep up with that. Now I've transferred almost everything into ETFs, I have no idea what the original basis was. Am I stuck not being able to convert to Roth?

@gobot4455 2 месяца назад

You can convert any time you want up to the contribution limit for the year (depending on your salary).

@DRventura333 2 месяца назад

This sounds like good information for anyone under 50 who is working in a salaried job that allows for employer/employees Roth/IRA contributions. Not sure if retired people or those doing only side hustle can take advantage of this method - correct me if wrong?

@JosephReyesCPA 2 месяца назад

All it takes is a consultation with Mark's IRA team to find out if this will work for your particular situation. If you have a side hustle you are "self-employed" which opens up lots of opportunities for you assuming that your numbers will work.

@loltoday4668 Месяц назад

Hi Mark, I am 50+ and need to catch up. I have a pension that doesn't have 401k or matching, only deferred comp, which charges 20% tax and fees. Can I still do the strategy, after tax employee contribution. 84,500 backdoor?

@jamesthiel5922 2 месяца назад

I was told by the IRS that my Roth contributions were disallowed because I didn't have enough earned income. That is, the opposite of most high earner's problem. Can you speak to this issue? I have no earned income because I have not been employed for some time, but I have a decent pool of income in brokerage account (some of which is in a traditional IRA). Is this true what the IRS has told me (and that I must withdraw my contribution) and is there a way to move money from my IRA and individual brokerage accounts to a Roth?

@Salstravels Месяц назад

My employer only offers pre tax 401k, which I max out and they match a %. I also do Roth IRA. Am I still eligible for mega Roth? If so, how?

@billcox199 2 месяца назад

Assuming 10% a year is not that easy.

@JenniferLyn1919 2 месяца назад

Hallelujah!!! I’m blessed and favored with $60,000 every week! Now I can afford anything and support the work of God and the church. For Your glory, LORD! HALLELUJAH!

@JasonScott_tt 2 месяца назад

Oh really? Tell me more! Always interested in hearing stories of successes.

@DavidAlexanderFitness 2 месяца назад

I know Ana Graciela Blackwelder, and I have also had success...

@DavidAlexanderFitness 2 месяца назад

Absolutely! I have heard stories of people who started with little or no knowledge but managed to emerge victorious thanks to Ana Graciela Blackwelder.

@anyway_anyway 2 месяца назад

Do we just talk to our broker to move the 401k to backdoor roth after we pay the taxes?

@bobmonson6432 2 месяца назад

What if MFJ and make less than $200K: so $8K Roth is after tax; then 401k is pretax- if you convert to Roth next day you have huge tax debt; then addl Empee after tax - what is your position if HR refuses to comply?

@myfinancialife7012 2 месяца назад

KNOWING that you are going to do this you plan by setting aside the money.

@InstinctiveVentures 2 месяца назад

@bobmonson6432, your plan admin should allow this. So first talk to HR if doing through employer.

@bobmonson6432 2 месяца назад

Thank you both

@jamesstpatrick8493 2 месяца назад

Wealthy don't choose this way.. They open business expenses.. Roth was made for working class

@dadada396 2 месяца назад

Tell that to Peter Thiel, they guy who invested in Facebook and other companies using his IRA and now has over 5 billion in the IRA now!!!

@catchyovibe 2 месяца назад

@@dadada396I guarantee you he didn’t do so only putting in 7k a year. If you believe that then let me tell you all about these twin towers that a third world country was able to hijack American planes and without one fighter jet going up take out these itty bitty buildings -

@catchyovibe 2 месяца назад

7k in crypto following the 4 year cycle and you can have millions in 10 years - whose behind these ROTH IRA’s and guaranteeing your money sits with them for the next 20 to 30 years -

@mendellgosnell5176 2 месяца назад

will this work with a Simple Plan?

@ballhogjon 2 месяца назад

I have a w2 where I could do this but not a business, how can I do this?

@andreawill9017 Месяц назад

There isnt a tax pro in MN when i looked. I trying to find a new mn cpa who can help me with directed ira/llc where i use my hsa balance to invest in crypto using cold wallet and tax preparation for w2 employee. Any tax pro who is licensed for a Minnesotan?

@F14Defense 2 месяца назад

Mark, is there a strategy to put any money in a Roth IRA when you’re retired and not working (meaning any ‘front door’ or ‘back door’ methods). We’ve been told we can NOT contribute any money to any form of IRA if you are not receiving job income in some way. For example, can a stock fund making money be used to contribute to a Roth IRA, or a) is there an any kind of minimum or maximum contribution? Or b) is this stock method not legal to use as a contribution source if you are retired, without a regular job and income?

@TheArmoTrader 2 месяца назад

You need earned income to qualify. Or you need your spouse to have it (for a spousal contribution if you file together)

@JohnHobitakis 2 месяца назад

For this - when you invest into your 401k, should you invest in your regular/traditional 401k or your Roth 401k?

@EPLrealty 2 месяца назад

John, I work in Mark's Main street certified tax Pro. reach out and I can help you.

@seanyab3813 2 месяца назад

Mark great show! Can I do mega Roth my investment firm? Their service is slow, it’ll take so many hours or days for the money to show up in the account. Or do I do it with my local bank?

@EPLrealty 2 месяца назад

I work in Mark's Main street certified tax Pro. reach out and I can help you. Plus I am an investment advisor. Reach out and we can set up an quick call to review. Peter

@missyb6464 2 месяца назад

I'm under 50 and my income is below the phaseout limit. Can I do the mega backdoor Roth as well? I max my Roth IRA and 401k every year. I also max out my HSA and fund my taxable brokerage. I have additional funds I'd like to put into a Roth, but not sure if and how I can. I'm a W2 employee and don't have a side hustle.

@probst9999999999 2 месяца назад

You can if your work plan supports it, I do mega backdoor, regular backdoor and traditional 401k

@HichigoShirosaki1 2 месяца назад

The funny thing is a million dollars is pennies to the rich. Also, it's not really tax-free. The tax is taken out of the initial amount just like any other Roth.

@epayson85 2 месяца назад

The point is that it's tax free in retirement. Also the growth is all tax free. You only put in $570,000 in at 7.5 years but you have a million now that you can touch anytime you want tax free. 1 million in a traditional 401k or IRA after retirement is going to get taxed as regular income and can hurt other benefits in retirement. Roth withdrawals don't count as income at all and don't even go on your tax return.

@shelleygebhardt3609 2 месяца назад

Your seascape mirrors my situation...Very helpful teaching.

@leny7829 2 месяца назад

Why doesn't everyone have $76K-88K to put away?

@InstinctiveVentures 2 месяца назад

You can begin with 7K or less .. Mark talked about the snowball effect too.

@latifehhammad6693 2 месяца назад

So im home maker who is 50 and a part time tax preparer with about 12000 net income of my own I will have my first million in seven weeks

@chiragmehta8212 2 месяца назад

Ool😅

@TW-ks9fm 2 месяца назад

what did you invest in

@BrigitteBrodski 2 месяца назад

you made some technical mistakes. watch your video and correct

@77Tadams 2 месяца назад

Can you have a self directed 401k and each spouse have a personal backdoor IRA?

@robertdavis177 2 месяца назад

Yes, I have done it for years with my wife via Fidelity. She has her own Back door Roth and I have my own. :}

@robertdavis177 2 месяца назад

The Fidelity IRA's are considered Self directed with respect to investments within Fidelity. I opened a pass through Conventional IRA and as soon as it funds, I roll it over to a Roth IRA. I use post tax money to fund the conventional pass through IRA and then roll it over to the Back Door Roth.

@77Tadams 2 месяца назад

@@robertdavis177 wow. Thanks for info. They don’t teach that in public schools

@TW-ks9fm 2 месяца назад

@@robertdavis177how much can you do a year like that