Where should you open a Roth IRA? This video covers the 3 BEST Roth IRA Accounts to choose from for beginners, including everything you need to know about Roth IRA's - Enjoy! A recent poll on my channel showed 33% of people don't have a Roth IRA. Roth IRA's could reap tremendous rewards as you plan for retirement since your entire account will be TAX FREE. Free Investing For Beginners Guide: https://dannysully.link/Investing101 Top Bonus Offers: 💎 Webull Invest: Get FREE Stocks with any Deposit! 👉 https://dannysully.link/Webull 💰 SoFi Invest: Get $25 FREE Stock when you Deposit $25! 👉 https://dannysully.link/InvestSoFi 💸 SoFi Checking & Savings: Get up to a $300 Cash Bonus! 👉 https://dannysully.link/SoFi 🛒 Rakuten Cash-Back Shopping: Get a $30 Cash Bonus! 👉 https://dannysully.link/Rakuten Top Financial Products To Consider: 🛠 Financial Tools & Services: https://dannysully.link/FinanceTools 📈 Investing Platforms: https://dannysully.link/Investing 🏦 High Yield Savings Accounts: https://dannysully.link/Savings 🔒 Certificate Of Deposits (CDs): https://dannysully.link/CDs 💳 Credit Cards: https://dannysully.link/CreditCards Resources: 📚 Free Learning Guides: https://dannysully.link/FreeGuides 🗞️ My Free Newsletter: https://dannysully.link/Newsletter 🔑 Patreon (My Portfolio & Exclusive Content): https://www.patreon.com/dannysully 🎥 Relevant YouTube Videos 🎥 - Fidelity Playlist To Learn More https://www.youtube.com/playlist?list=PLL80XtVsEZjN7ichqUUvP54qpYQ4lVS46 - Fidelity Roth IRA For Beginners https://youtu.be/jH1rJa4RRp8 - Roth IRA | How To Become A TAX FREE Millionaire https://youtu.be/c6PYuGZ8-dc - Traditional vs Roth IRA | Which Is Better For You? https://youtu.be/zCTHuIwKEO4 - Mutual Funds vs Index Funds vs ETFs https://youtu.be/_Oz_l3GQxhU - https://youtu.be/o-Pk2hcTXjY ⏰ Timestamps ⏰ 00:00 Intro 02:09 1. Fidelity 05:23 2. Vanguard 09:22 3. Charles Schwab 11:33 Key Things To Know 13:55 Conclusion 🔔 Don't forget to subscribe with notifications on and hit that like button! 📝 What is a Roth IRA? A Roth IRA is an individual retirement account that by U.S. law allows you to invest after tax money for the benefit to withdrawal at retirement (minimum 59.5) TAX FREE. Where to open a Roth IRA? There are 3 places I recommend to open a Roth IRA account and in this video I explain why I have narrowed it down to Fidelity Investments, Vanguard, and Charles Schwab. Why? Fidelity is among my favorite (not affiliated) and all three options are the largest in the industry and have been around for a long time. You can also utilize their in house index based mutual funds. These platforms are much more professional in my opinion and that is why an account like the Roth IRA to grow over the next 10,20,30+ years should go to one of these 3 places to start a Roth IRA. I also recommend only picking one brokerage for Roth IRA's to keep things simple. Pros: 1. Withdrawal Tax Free 2. Time for investments to grow 3. You can withdrawal contributions any time penalty free and tax free 4. You have control on how you want to manage the account Cons: 1. Income Limit: If you have to high of an income then you are unable to contribute to a Roth IRA. 2. Contribution Limit: How much you are able to contribute to the account every year. 3. Can't withdrawal earnings before 59.5 4. Withdrawal earnings early and pay taxes and 10% penalty. Why are Roth IRA's a great approach when planning retirement? With proper planning and discipline, a Roth IRA by the time you could retire could truly save you hundreds of thousands of dollars from paying taxes but also the benefit of holding onto investments over the long term... WHY? If you were to invest for 20, 30, even 40 years and hit the max contribution every year when investing in strong funds, the chances of your accounts value being high is likely. Paying taxes on a portfolio that high would come with an extremely heavy cost, but paying no taxes would save you many years of working. Some of the links in this description are affiliate links that I get a commission from. The commission helps support my channel and I would greatly appreciate it! Disclaimer: Certain links on this website lead to products or services that may earn Danny Sully an affiliate commission or referral bonus. As a member of an affiliate sales network, Danny Sully is compensated for directing traffic to partner websites, which may affect the placement or visibility of some products on this site. The information provided in this video is accurate as of its posting date, though some of the offers mentioned may no longer be active. This content is for entertainment only and does not constitute legal, tax, or financial advice. It is for general informational purposes. The presenter is not a licensed professional. Viewers should consult their attorney, accountant, or financial advisor for advice on specific legal, tax, or financial issues.