Retirement Planning

Retirement Accounts: Roth IRA & Traditional IRA [Video]

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Retirement Accounts: Roth IRA & Traditional IRA

What is an IRA?
How does an IRA differ from a 401(k)?
What are the contribution limits for an IRA in 2022?
Roth IRA vs Traditional IRA

CORRECTION: In the video I mention that you must be 18 yrs old to establish and contribute to an IRA. Actually, you just need to have earned income. So, teenagers working their first job can contribute to a Roth IRA (or Traditional IRA).

If you want to establish an IRA, and are not sure which financial institution you want to set up your IRA(s) at, that’s okay. Do some research. Find out what products and services each institution offers, and select the one you like the most. Personally, I like Charles Schwab. Check out for more details.

If you are not sure what to invest your money in, once you set up your new IRA(s), that’s okay. Personally, I’ve created a portfolio of stocks that I invest in. The portfolio was built according to the system outlined in a book called “Get Rich With Dividends” by Marc Lichtenfeld. Check it out. The book has changed my life for the better, and I believe it can do the same for you too! If you are interested in mutual funds for example, there are many options. I like Vanguard. Visit for more details. Regardless of what investments you select, do some research. Maybe talk to a financial advisor to receive some guidance on how to proceed. (If they don’t charge you for guidance, that’s always nice) Read some books to gain knowledge about investing too. It helps if you know a thing or two when speaking with financial professionals.

Learning about finance and investing for retirement is a journey. You won’t learn everything overnight. Be patient with yourself. Learn in chunks, at your own pace. However, the sooner you start, the better. Research “the power of compound interest” to get an idea of what I mean. Best wishes on your journey!

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See you in the next video titled “Roth IRA: Income Limits”

Retirement Planning

Social Security & Biden… [Video]

Social Security and BidenIn this video, we discuss Social Security and President Biden. Two very important topics that we need to discuss and if these two are related and if they will work together. Social Security benefits include retirement, SSDI, survivors benefits and we also refer to SSI, supplemental security income in this video. Social Security benefits send out a very important monthly benefits to roughly 65 million Beneficiaries along with SSI, supplemental security income, 70 million Beneficiaries rely on this monthly checks each and every month, these are incredibly important. We are discussing President Biden in reference to Social Security, SSDI, SSI monthly benefits.Please make sure to subscribe to the Blind to Billionaire channel and share this video with your friends, family, social media and check out any of the other videos here on the channel. Fan Club - Join Here: Stocks Here: $30 when you spend $30 here: Amazon Here:***Disclaimer*** All the material in this video is for entertainment purposes only and is not financial, legal, accounting, tax, investment advice, or advice in any way. This information should be used as general information for entertainment purposes, we highly advise you speak to your professional for specific information. We are not liable in any way, shape, or form as a result of any information discussed in this video. Links shown above are affiliate links which will result in the creator receiving a small commission upon the use/registration of the link provided.Blind to Billionaire is a dedicated YouTube channel to bring you daily updates and information to be The most valuable and high-quality information for this community. Blind to Billionaire is very dedicated to this community so please make sure to subscribe, share this video and check out any of the other thousands of videos here on the channel.#SocialSecurity #SSDI #SSI #BlindToBillionaire

Retirement Planning

IRA Contribution Limits 2022 & ROTH IRA Contribution Limits 2022 || IRA & Roth IRA Contribution 2022 [Video]

IRA Contribution Limits 2022 & ROTH IRA Contribution Limits 2022 || IRA & Roth IRA Contribution 2022Click Here For More Retirement Planning Videos: Contribution Limits 2022 & ROTH IRA Contribution Limits 2022 || IRA & Roth IRA Contribution 2022IRA and Roth IRA contribution limits have been released by the IRS and they look very similar to the IRA & Roth IRA Contribution limits for 2021. Unfortunately, because of how the IRS calculates the contribution increases for IRA's and Roth IRA's, in 2022 there will be NO increase from the 2021 IRA contribution limits. Below is the IRA Contribution limit and the Roth IRA Contribution limit for 2022:IRA Contribution Limit: $6,000 IRA Catch-up Limit: $1,000Roth IRA Contribution Limit: $6,000Roth IRA Catch-up Limit: $1,000Now, the IRA Contribution Limit and Roth IRA Contribution Limit might not have changed, but the income limits for contributions into IRA and Roth IRA's did increase from 2021 to 2022. Remember, you are only allowed to contribute to an IRA or Roth IRA if you make less than a certain amount of money. How you file taxes will determine your income limits for IRA and Roth IRA contributions. The new IRA Income limits for 2022 are below:Single File: $129,000Married Joint File: $204,000What might get lost in the IRA contribution conversation is your ability to contribute to a spousal IRA. A Spousal IRA gives a spouse who does not work or makes very little, the ability to contribute to an IRA or Roth. In order to do this the working spouse must have income below the $204,000 income limit and the contribution into the non working spouses IRA or Roth must be equal or less than what the working spouse actually earns. For example, if you are working and make $100,000 a year and contribute $6,000 into a Roth IRA you are allowed to contribute another $6,000 into a Roth IRA in your spouse's name. If you are both over 50, you get to add an additional $1,000 as a catch-up provision. Finally, don't forget the difference between an IRA and a Roth IRA. An IRA is pre-taxed. Meaning, the money you put in an IRA is NOT taxed on the way in, but it IS taxed on the way out. A Roth IRA on the other hand, is taxed on the way in BUT is NOT taxed on the way out. That is called post tax. Which is best for you? Well that is a financial decision based on your income, age, tax status, and how long you are going to work. Thank you so much for watching and reading IRA Contribution Limits 2022 & Roth IRA Contribution limits 2022. As always, if you have any questions, please contact us below. **Free Retirement Download: The Roadmap to Retirement:****To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: ****Visit our Website: **Retirement & Financial Planning Resources:-Have You Ever Been Bitten by an Elephant?: The Definitive Guide for Retiring Well by David & Drew Blackston: Sense Investing by Jack Bogle: Intelligent Investor by Benjamin Graham: Blessed Life by Robert Morris: Magazine: Wall Street Journal:**Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. Please call me at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.**Other videos you might like:Can I Retire at 55 with $2,000,000 : Contribution Limits for 2022: to calculate YOUR retirement income: Retirement Savings Balance by Age & Race: Wealth GroupDrew Blackston, CRC® & RFC®Office: 813-807-5060Info@pearlwealthgroup.com you to Retirement, through Retirement, & protecting YOUR ability to stay in Retirement!Tools Used To Create Video:-TubeBuddy Keyword Research: #retirement #yourfinancialekg