What to Invest in FIRST For Your Retirement

TL;DR

Learn the order to invest your retirement funds, from 401k to brokerage accounts, simplified for beginners.

Transcript

i've spoken to a lot of people through dms on instagram and youtube and a lot of what's stopping people from investing is they think it's complicated and they don't know where to start in this video i'm going to be teaching you exactly what order you should put your investment money into for your retirement shout out to capitalize who is sponsoring... Read More

Key Insights

• 🈯 J L Collins' book "The Simple Path to Wealth" serves as a guiding resource in structuring retirement investments.
• 🚱 Structured hierarchy for retirement investing includes funding 401k, Roth IRA, deductible IRA, non-deductible IRA, and brokerage accounts.
• 🤣 Capitalize offers a streamlined process for rolling over old 401k accounts into IRAs with expert help and comparison of options.

Questions & Answers

Q: What is the first step in investing for retirement according to the video?

The first step is to fund your 401k type plan to the full employer match, ensuring you take full advantage of matching contributions from your employer.

Q: How does a Roth IRA fit into the retirement investment hierarchy?

The video suggests fully funding a Roth IRA after maximizing employer matches, taking advantage of tax-free growth and flexibility in contributions.

Q: What is the significance of a traditional IRA in the retirement investment process?

A deductible traditional IRA allows for tax-deferred growth, providing a way to defer taxes until withdrawals are made during retirement.

Q: How can Capitalize assist in the rollover of old 401k accounts?

Capitalize is a free platform that helps individuals easily rollover old 401k accounts into IRAs, providing expert assistance, comparison of options, and simplifying the process.

Summary & Key Takeaways

• Justine from Debt Free Millennials discusses the importance of retirement savings and simplifies the process of investing for beginners.

• She highlights J L Collins' book, "The Simple Path to Wealth," as a valuable resource for structuring retirement investments.

• The video breaks down the hierarchy of investing for retirement, starting with maximizing employer matches to utilizing brokerage accounts for additional savings.