Let’s break down what a Roth IRA can do to help you prepare for retirement.
First and foremost, a Roth IRA is an account utilized for retirement. It allows you to grow your money tax-free. This tax-free status is not something you can redeem today, but instead something you take advantage of when you are looking to utilize the funds. To be clear, the money in your Roth IRA has the potential to grow over time. Once you withdraw the funds, you won’t have to pay taxes on them. Now that you have a basic understanding of what a Roth IRA is, let’s dive into some other ideas and alternatives you should be aware of.
1. Start your Roth with a helping hand from Stash
Whether you are looking to invest a couple of dollars from each paycheck, or have a lump sum you would like to start with, it is easy to get started with Stash.
Stash allows users to buy fractional, or partial, shares in companies that have high prices for their shares. This lowers the barriers of entry on shares that cost hundreds or thousands to acquire a single share. But with Stash, you only need as little as $5 to get your piece of the pie.
Stash is offering to provide you with $10 to invest after you deposit $5 or more into your personal portfolio. And if you’re looking to educate yourself further, you can utilize tools and guidance from the experts at Stash. Check out the Stash+ plan when signing up, and immediately start earning 2x stock rewards on certain purchases.
Start your investing journey in Stash
2. Don’t let a maxed-out 401(k) stop you from preparing for retirement!
If you’ve maxed out your 401(k) already for the year. Don’t overlook this next solution from Betterment. The Betterment Roth IRA is a fantastic option if you make less than $139k independently filing, or $206k if you file jointly. Betterment is obligated to put your best interests first, due to its fiduciary status. Leave it to the experts to handle all the rebalancing and dividend reinvesting.
Betterment will save you valuable time, with great features like recurring deposits as well as technology that is specially designed to ensure you don’t over-contribute over annual IRA limits. They’ve already curated a list of multiple expert-built portfolios for your Roth IRA, so what is stopping you from getting started with Betterment Today?
3. Don’t let the account creation process stop you from preparing for retirement
Most people have way too many apps in the ‘Finance’ folder on their smartphones these days. What if you had just one that you could depend on for all of your Roth IRA and retirement savings needs? M1 is an app that provides this solution. M1 helps you build and maintain your own Roth IRA, with a quick sign-up process and unique Dynamic Rebalancing technology.
When you open a Roth IRA with M1 you can expect:
– Zero Management Fees: And you can say goodbye to those hidden costs in the small print!
– Control: Choose the stocks and ETFs you have conviction in already, or start with one of the 75+ pre-built ‘Expert Pies’ portfolios!
– Ease: Diversification made easy, with fractional shares, and the ability to set up automation for contributions. Put your retirement savings plan on autopilot!
Say goodbye to that cluttered ‘Finance’ folder, and hello to a balanced Roth IRA portfolio.
Right now, M1 is running a limited time offer which includes a FREE $10 credit to anyone that opens a new M1 account using our link! Just register as a new user and add a minimum of $100 to your new account within the first 30 days and you’ll automatically see your $10 added. Hurry though, this offer ends Nov 30th, 2022.