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In order to understand EXACTLY what’s going on, AND how some people are able to make a LOT of money, tax free…we need to talk about one of my ALL TIME FAVORITE investment accounts, and that would be: A Roth IRA, which stands for Individual Retirement Account.
You’re able to open up one of these accounts and deposit up to $6000 PER YEAR if you’re under the age of 50…and if you’re over 50, you can contribute $7000 per year, if you fall within the certain income brackets. The MASSIVE advantage to doing this is that ALL the money you deposit into this account will grow entirely tax free, after the age of 59.5.
In Peter Thiel’s case, you’re allowed to set up what’s called a SELF DIRECTED Roth IRA…which means, YOU get to invest your money however you want. In 1999, he opened up a Self Directed Roth IRA when he was 32 years old, making very little money, and starting a brand new, tiny company that you may have heard of…called PayPal. He then invested $2000 of his own money within that Roth IRA to buy PayPal shares, valued at 1/10th of 1 cent each…and that, in turn, gave him 1.7 MILLION SHARES to grow tax free within the account. Within 2 decades, that $2000 turned into $5 Billion.
HOWEVER…once news started getting out that people were able to accumulate HUNDREDS OF MILLIONS and BILLIONS of dollars tax free…that inevitably drew criticism from congress, who’s now moving to REMOVE certain aspects, and change the way the Roth IRA is structured.
The first would “limit the total amount of money that can be saved in tax-preferred retirement accounts,” meaning – once your account reaches beyond a certain point – anything ABOVE that amount would be taxed normally.
The second proposal would PROHIBIT the purchase of privately held companies within a Roth IRA, which would eliminate the strategy that Peter Thiel used while making BILLIONS OF DOLLARS.
In fact, congress is “considering reforms, such as banning the use of IRAs to purchase nonpublic investments,” calling it “a good starting point while protecting IRAs for every day Americans to save for their retirement.
Other members of congress say that this is the very spirit of the Roth IRA…and that “Earning a return is exactly the intention of making any investment, and if you can do this in a tax-free account like a Roth IRA, that’s even better. That’s just good tax planning and all perfectly legal.”
There’s no easy “solution” around this, but – from the way I see it – these accounts are far from the norm, very few of them exist – and I’m sure FAR MORE people have done something similar and LOST MONEY, than have blown up to the level where we read about them on the cover of Forbes.
So, I would say – we should do MORE to encourage people to save and invest for their retirement, there should be more education and awareness to incentivize people to take advantage of the resources available to them, and understand that Peter Thiel’s $5 billion account balance doesn’t take away from the average American saving for retirement.
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Day 40 of requesting Graham to say “What’s up Mommy, it’s Daddy here.”
The governments plan is to try to take away the money from people that invest well its part of their communist plan
@Pinned by Graham Stephan this is not the real Graham! He will SCAM YOU
Mega Roth IRA sounds insane lol amazing ! Thank you!
@Pinned by Graham Stephan SCAMMMMMMER
of course they’d go for our retirement. Why go after all the corporations who pay 0 taxes…thats too hard.
I’m glad the government knows how to spend my money I saved😊 Can’t trust Social Security. So set yourself up for retirement, nope Supreme overlord Biden, Schumer, Christy, Cruz, Romney… they need need their food too🥺 Tell you what, can you please let the American workers build a legacy for our future generations. Instead of taxing us to the eyes and spending our hard earned money on useless government entities. But that’s ok, I’m glad to help you and provide for congress, because they care and provide so much for me!😊 Leave the retirements of people alone! Typical of Washington though, people use the opportunity presented to them and all of a sudden they lost money and was “well, thats not what we meant by this..” Gotta love good old fashioned politicians😁
Spam spam spam spam spam spam tax-free and spam. Spending my evening listening to the Graham comedy show.
The way the government is going now… We all just need to face the fact that until they stop squeezing us for our wages, we will keep paying them just be alive.
@Pinned by Graham Stephan go find a real job and stop scamming people
Hey! What’s up Graham, I appreciate the shout out.
@Pinned by Graham Stephan SCAM ALERT
If my livelihood becomes jeopardized, Imma start blastin.
T.h.a.n.k Y.o.u F.o.r W.a.t.c.h.i.n.g S.e.n.d M.e A T.e.x.t o.n W.h.a.t.s.A.p.p To A.s.s.i.s.t Y.o.u O.n H.o.w Y.o.u C.a.n M.a.k.e M.o.r.e P.r.o.f.i.t.s I.n C.r.y.p.t.o
+14-3-8-3-0-0-7-9-0-6🇺🇸
Not in Finland
In other news, Congress can’t agree. Which, for us is a good thing.
I counted 30 tax-frees
Peter invested at .001 cents. Not alot of companies can go from less than penny stock to huge. Look at doge coin…got memes cuz of Elon. GameStop…reddit…
Democrats are corrupt and useless.
How many episodes will you flip your intro before anyone knows?
I counted “27” tax frees. (there was one at the very very end)
*flappy hands*
Did he say what’s up you graham, it’s guys here?
Did he say “what’s up you Graham it’s guys here”
6:13 have you played the new gta update we just got a big car update
Graham Stephan: The Ben Shapiro of Bullshit
I get that 400 a month would be great for the investment, but taking 400 out of my monthly salary is just not feasible for most of us age 18-30.
Dare you to be honest next time and say who really wants to destroy everything (the democrats)! 😉
There are plenty of high risk transactions not allowed in retirement accounts. I have no problem with Congress limiting this one. It’s first and foremost a retirement account, not a slot machine. You want to gamble that much, then pay taxes.
You said “tax-free” 29 times Graham. You can Venmo me the $50, lol.
Porsch-uh
The baby animals get you a like from me good sir.
First the iced coffees now hopefully the cute critters
At age 59.5 when you take it out it’s taxed then —at the end…correct?
No if you take it out at 59.5 you don’t get taxed. If you take it out earlier you get taxed on profit only. So if you contribute $1000 and it grows too $2000 you can take out $1000 for free. But don’t take out just let it ride. Hope that helps 😂
fucking hate the government, always trying to take your money away. I did pull one over on them though…remember the last stimulus check and how it phased out people making more than x amount of dollars/year? Well…..they based that on your last tax return which showed me Below that threshold, I waited until the check came to submit my taxes……and I won. F U Government.
No more WeBull!?
So, if i put $6k in a roth, and i happen to lose $3k, can i claim the loss?
No
The commies are in congres. There is not much time left americans. You need to wake up! After they destroy the retirement there is not much left.
I counted about “18 times tax-free” and also the 11th time you initiated the bet for the money and the 13th time was the mitt Rodney one and the 17th one at 15:50 you reminded us again
Is Acorns Later a good IRA account to have?
Can’t have people building up their retirements, will take away from government dependence…
Had a highschool instructor give this advice, and give 10% credit in the class if anyone opened a Roth IRA. I need to find that guy and buy him a beer.
Now that’s a good teacher. Need more like that
Yeah but any student without a job or earned income can’t open a Roth IRA.
Taxation is theft. Case and point.
“What’s up you graham, it’s guys”
Tax Free.
Disagree with you here.
What Thiel did was completely legal, but I wouldn’t say it was definitely morally fine to do. Man made billions on investments and wasn’t taxed a dollar. Most returns on investments are income and should be taxed, especially the ballooning stock price of a publicly unavailable company that you work for.
The whole situation sticks out to me as another way that this country unfairly benefits the mega rich
Terrible title. Vast majority of retirees don’t have a 401k or IRA🤣🤣🤣, they just simply stop working when it’s no longer feasible. Congress can’t kill that
63
Sounds like democrats trying to steal your money
PERHAPS IF INSANELY RICH PEOPLE DIDN’T ABUSE THE CONCEPT OF THE ROTH WE WOULDN’T BE IN THIS PREDICAMENT but yes, blame congress.
You know why, well because america is now a financially broke country and want it’s citizens to work for every.
Take a shot of vodka every time he says “tax free”!
Thanks I need a new liver.
bought some credit card from *robinhacker01* on telegram and it was real and all his card were valid💯✅
If the government actually does try to limit the amount you can put into a Roth IRA then ppl will just have to do what the rich do with their regular bank accounts, gonna go and open a second, third, and fourth IRA….
They need to remember that those who grow $10MM+ are extreme minority. The vast majority of us will do well to crack $2MM at best. Don’t punish the majority for the success of the minority!
Idk tax-free 28
Tax free now lives in my head rent free
So you think income tax is legitimate?
Tax free for the Americans that work hard and save their money… then someone really smart figures out a way to game the system and the super rich take advantage, Congress. Now taxes it and the regular American gets screwed like always
Great job addressing Roth issues. I personally spent $10,000 of my Roth on Amazon stock at IPO that’s now worth $20 million. Unfortunately I sold at $1 million, but I don’t believe in restricting anyone buying equity at fair market value. I only took the risk because of the potential reward.
This is a complete misrepresentation of what’s going on to get people angry and engaged to boost your own content. I really thought you were better than this kind of content that’s low hanging rage fruit instead of something real that adds to peoples lives.
The government always wants to take YOUR MONEY while screwing you over lol
Moving to Europe is really starting to look appealing now …
Is less corruption in the west Europe,i can tell you that much!
Motherfucking government doesn’t want you to be rich… period…
Got motion sickness from all of the cutting back and forth…..
Oh China Joe finding another way to fook us in the arse. Don’t give up your guns.
They WANT to crash the economy. Great Reset. I don’t know why people are struggling to understand this.
It’s like they can get away with any financial crime provided they do it slowly and claim to be doing the opposite.
Sorry Graham. Nobody needs to make hundreds of millions in untaxed income and people will invest in stocks whether they are taxed or not.
Congress does insider trading out in the open
Crap what’s next!
This is Honestly another reason I want to leave this country. I plan on going to Norway eventually. They actually care about their people unlike America.
Was it Darth Vader or Congress that said, “I’m altering the deal. Prey I do not alter it any farther?” Or is there any real difference between the two?
This seems like a good move by congress. Wealth disparity is at an all time high and everything you said from the beginning minute is proof that Roth IRA’s are just a money laundering scheme that are largely beneficial for the rich. Most American’s do not have the means to contribute or setup or even the knowledge of a Roth IRA. Seems like a silly thing to exist in the first place if you listen to your first minute – how and why are those people able to accumulate so much wealth just by moving money around? Just ban the cheaters and move on – nothing to see here other than whiny wannabe or already are millionaires… go do some actual work for once.
I invest a $1000 in broad index funds every time I watch a Graham Stephan episode.
To be fair, congress has been doling out free money they need your money to fund it.
Damn talk about fear mongering and bootlicking. You’re never going to achieve the level of wealth thiel achieved and the idea that congress could get rid of the Roth is laughable. Just say you have no idea how the admin state or tax law works next time – save us all 20 mins.
You said ” tax free” 26 times.
Funny, people still support the government and government expansion.
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The boomers killed social security and now they’re trying to take Roth IRAs lol
Missed out on $50 for not having my post notifications on. Not letting this happen again. Hitting the bell and the like button for you Graham😭
AM I THE ONLY PERSON WHO NOTICED HE SAID “WHAT’S UP GRANT, YOU GUYS HERE?” 👀
Assume that I moved Congress straight to hell they won’t be in charge much longer this cannot be tolerated their blatant disrespect for the American worker is unbelievable and the fact that they’re giving money to everybody that comes in from anywhere for nothing is all so unbelievable and guess who’s paying for it look in your grocery bill unless you’re in La where you can steal everything
If you plan on retiring frugally and you don’t trust the government to keep their mitts off your money in the future, invest in a Traditional IRA instead of Roth, and save on tax now.
Why not address the capital gains tax loop holes instead of the Roth IRA 🙃
Thanks biden
I’m not liking this political side of you graham
You said tax-free 31 times
Should I finish paying off my debt before I start investing?
yes
is Congress meant to be a retirement home?
The thinkable secretary cumulatively file because impulse expectably employ to a fascinated quit. furry furtive, zippy relative
OK… Now that we know how to make Millions and Billions… Can your next video be how $2000.00 can be invested via ROTH IRA to potential blow out companies. I haven’t seen a way you could use your ROTH funds and do this. How can you buy Non-Public shares with your ROTH if its with an investment firm that doesn’t allow this?
in Sam”O”Nella voice COMMMEEEEEEEEE COMMMMEEEE REEEEEEEEEEEE
There should be changes made, there is no level playing field.
Accredited investors is the biggest load of BS ever. “Yes sir, if you’re rich enough you have access to even more investments that the regular plebs dont” 🤡
Delete this comment before a conservatist shows up and calls you communist!😦
Very interesting, easy to understand and informative. 👍🏽
Question? If i have “hypothetically” $50k but make well under the income limits of the roth IRA would it be a good idea to use the back door to invest all of it at once, or with my limited income would it be better and simpler to do things normally?
We need to get rid of congress and all political parties.
… Am I a Graham Clone
BTW Omaze is a for-profit lottery, not a charity like it’s always advertised. The organisations they support get like 10% of the money spent on tickets, and users on average get a 60-70% return on investment. So on average you’d need to buy about $100k of tickets to win a $60-70k car.
Let’s ban life, in general.
So, if my 401k is pretax, do I effectively skip taxes by transferring it to the roth ira ??
What part of Congress wants to do this?
0:00 what’s up Graham its guys here haha
Thanks for watching and commenting don’t forget to hit.the subscribe button for more info.consultation..and advise..text W..H. A .. T.S.A.P.P + 1/9/4/1/3/1/5/4/8/2 / 2. /.📌🚀📌
I hate all governments. They are all corrupted.
What about a ROTH 401K in addition to a regular 401K?
Who else is on board with a guillotine in every major city. We go ahead and use them on politicians and predatory business owners. I’m sure we could discourage the predatory attacks on the common folk made legal by these cretins
The Golden years of looking to retirement at old age with government backing are dead. Whats so wrong with just keeping what you make and just funding your own retirement?