Roth IRA Tutorial with M1 Finance – Investing for Beginners reviews
Step by step tutorial on how I setup my Roth IRA (personal retirement account) using the M1 Finance investing app
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ABOUT: The M1 Finance App is an amazing tool for buying and selling stocks. Today, I guide you through the process with a step by step tutorial how to set this up for yourself.
While there are literally thousands of choices between stocks, funds, bonds, and ETFs, I will also show you exactly what I’m purchasing to put inside this retirement account. I chose the Roth IRA because it’s the most tax advantageous for my purposes.
Initially, I was debating between going with M1 or Vanguard, but ultimately I picked M1 due to it’s approach to investing basics, ease of use, flexibility, and low cost to start investing in the stock market.
Usually I use Robinhood, however, Robinhood does not offer a retirement account. While I’m also primarily a dividend investor that focuses on high quality dividend paying companies, I wanted to show beginners how to set up a Roth IRA with this incredibly easy to use finance app.
Now I have the perfect trio, Robinhood, WeBull, and M1 Finance to complete the set of the best investing apps. The instructions in this video are simple and easy to follow along!
If you want to learn how to be rich slowly, this is it!
*Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
Andrei Jikh –
Do you guys prefer the Roth IRA or Traditional IRA?
THANK YOU! future me is excited for me
Josh Lawless –
I already have a 401k and IRA. I do have 3rd retirement fund which is the brokerage account with Robinhood. I’m just investing a couple hundred a month in it. Do you recommend staying with Robinhood or going to M1?? Thoughts??
jomar malave –
My profession is not listed in the app so does this mean i cant use it?
Cliff DaRiff –
If you are over 59 and a half can you take out the interest from the dividends without a penalty
BL-DUB & FRIENDS! –
lol why does old Andrei look sick lol
Janiyah Marie –
What do you do if after year of investing you get above that 315k a year mark and you’re not 591/2 what do you do ?????????
Janiyah Marie –
Can you invest in Roth IRA AND index funds ?? AT THE SAME TIME ?
Thanks Andrei. I have a question though. Is it still a good idea to start your Roth IRA if you probably can't contribute the whole 6000 into your account for the year you started it?
mandiuxxx Mexxxia –
Can you do a tutorial with vanguard please.
i just watched a previous video he made about Roth IRA and why he doesn't have one. I'm confused.
Jupiter G. Dickson –
Great content I must say. As a first time investor when I started awhile ago, I didn't know what to do, then I was introduced to a great financial advisor named Suzanne Stephens Ellis, she taught me all I needed to know and helped me monitor my Roth IRA. My portfolio has grown so much. To anyone that is interested, she is the best I know.
Lol imagine he actually invested in Bitcoin in 2019…. he would have 3x+ his money.
Paulo MK –
Dammn a lot of weight gain forward 2021
Oyamel Vida –
THANKS THANKS AND THANKS 🙏
Jose Eduardo Castañeda –
I wish you could invest in bitcoin cause you would make a tone of many tax free!
Paul Covington –
Does M1 Finance let you invest in Bitcoin or other Cryptos? If not, who do you recommend for that?
Jason Merrill –
Great video! Was going to mention that lighting but you fixed it mid-way through haha.
Karen Franco –
I can’t believe I’m enjoying a YouTube video about finances/ investing SO MUCH! I’ve been scrolling through hundreds of YouTube videos trying to find 97% of the information that you just provided in this video in just 13 minutes 🙌🏽👏🏽 I love you. ❤️😅
rockin roadways –
When is the last day to transfer $ to Roth IRA account for each year? If I start on December, thx
Shadow Palkia –
Can someone explain to me what the difference between a Roth IRA and stock investing on an app like Robinhood is? I can buy ETF's and stocks on both but I would assume the difference is in the tax advantages? Let me know if I am wrong, thanks!
What would happen if you didn't contribute the full $6000 for some year?
eric marino –
What if you can’t max out the maximum every year?
Cody Leon –
VTI vs VOO?
Only available to Americans?
Safe to say that Andrei jinxed himself in this video to start getting that YouTube money
nathan mc dermott –
The app doesn’t exist for me in my country of Ireland
Aky Rozyyev –
is it only for usa citizens ? can i also invest eventhou i am not american ?
You look completely different now 😁
G To The J 5 –
This video aged well! Hadn’t seen that income change yet lol. I’m glad you finally did!
carlos lovato –
You're editing or editor is amazing.
Chandler Meredith –
Quite impressed with this. Haven’t made a million yet but I’m sure I’m my way to doing that as investing in the trade market has paid off handsomely.
Mike Speed –
I'm 2 years late but is that $6000 maximum contribution a year or a month