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There’s going to be a link down in the description below. how the whole thing works, and so what i decided to do is, teaching you exactly how to use m1 finance step-by-step, and one of the reasons that i really like m1 finance is it’s a $100 minimum, but for the retirement account, and if you guys aren’t familiar with what that account is, but because of that reason, if
You invest it in the roth ira you are allowed to, basically, let your money grow tax-free. for example, you’re gonna get hit with taxes and penalties. and over five years, that grew to $6,000, we’ll say. because that is when you would pay taxes and penalties. meaning, they can directly contribute to a roth ira. or what year you plan on retiring, and then based on that,
And they can have more of their money involved in equities so, that is one option you have here with m1 finance. you often have to just invest that money into funds, for the retirement account, there’s no commissions. and they will help you with rolling over an old 401(k) what happens if m1 finance disappears or something? and then your assets would just become a part
Of that. you are covered by something called sipc insurance. but anyways, guys, that’s gonna wrap up this video. i hope you enjoy it, and i will see you in the next one.
Transcribed from video
M1 Finance Roth IRA | Is This A Good Retirement Account? By Ryan Scribner