How many of you buy stocks in your ROTH IRA?

[El_Mero_Mero]

I don't have an IRA yet but I'm thinking of setting one up in 2020. I have no way of knowing if I'll make it to age 59.5, but I might.

If I buy dividend stocks in there and leave them there until I reach age 59.5 then I won't be taxed on this, correct?

What is the main difference between buying stocks in RobinHood versus buying stocks in/through the ROTH IRA?

Any other ROTH IRA feedback/advice?

 

[ConPHIdential]

Robinhood doesn’t have an option to open up an Roth IRA account. Strictly an individual account where you can buy stocks.

You can withdraw any of your contributions from your Roth at any time with no penalty. However you cannot withdraw any of your earnings unless you want to get penalized and taxed until your 59. Their are exceptions though...for health emergencies, your first mortgage, or if you’re a beneficiary you can withdraw contributions and earnings with no penalty.

 

[Ghostface Trillah]

Webull allows you to buy a Roth IRA.

 

[El_Mero_Mero]

Thanks brehs.

Up till now I had all my stocks in Robin Hood, but I might look into purchasing some stocks within the IRA as well (the ones I plan to hold till my actual retirement age and not touch for any reason).

I used to use M1Finance and RobinHood for investing, but it got a little easier for me to just keep everything in Robin Hood.

I don't plan on starting a WeBull account any time soon, but will explore another online route for opening up my IRA. Is WeBull's benefit that it's free to buy stocks in the IRA account? Would I pay traditional "pre-stock trading app" rates if I don't go through WeBull?

Any info. is appreciated. Thanks.

 

[Bboystyle]

My job has an IRA roth retirement option thru lincoln financial that i use. They take $200 from each check and they use it to invest for my retirement. So far its been good. Been on this for 3 years now and plan to have an estimated 2.5 million at retirement. Not bad

 

[GunRanger]

Use etfs for long term retirement accounts instead of individual stocks

 

[El_Mero_Mero]

Use etfs for long term retirement accounts instead of individual stocks

I'm thinking about REIT ETFs for the IRA

 

[Originalman]

Yep I have bought stocks with Roth and tradition IRA.

 

[Originalman]

Use etfs for long term retirement accounts instead of individual stocks

Yep I buy etfs as well. My stocks have in my IRA have been in DoD. IMO they are some of the safest stocks. They really don't lose value and they can't fukk over the money and go bankrupt. Cause its government money they can't fukk around. Even fluctuations in the Dow doesn't really mess up their stocks like commercial stocks.

shyt with lockheed, Boeing and Northrop I have made well over 30k in the last year 2 years.

 

[El_Mero_Mero]

Yep I have bought stocks with Roth and tradition IRA.

Please excuse my ignorance as I'm relatively new to all of this, but what is the reason for having a Roth IRA and a Traditional IRA? Is it that you can only put so much money in each one per year or is there another reason?

 

[Macallik86]

Please excuse my ignorance as I'm relatively new to all of this, but what is the reason for having a Roth IRA and a Traditional IRA? Is it that you can only put so much money in each one per year or is there another reason?

Taxation in retirement accounts is deferred or exempt.

If you make $1,000 profit in a regular account, you have to pay capital gains taxes on your money.
If you make $1,000 profit in a Traditional IRA, you pay regular taxes on your money when you withdraw it as long as you are of retirement age.
If you make $1,000 profit in a Roth IRA, you don't pay any taxes as long as you wait until your are of age or it is a special use scenario (ie Home purchasing)

 

[Astroslik]

I can’t open a non-traditional Roth IRA...

 

[Deflatedhoopdreams]

I can’t open a non-traditional Roth IRA...

why

 

[mannyrs13]

I buy stocks on my roth ira with fidelity. don't have much in there and a few weed stocks have killed me lately. hopefully i can bounce back in 2020. my traditional ira is where i'm focused on. i rolled over an ira from my old job since my current job doesn't offer me a 401k. i just deposit to that account myself and invest in funds, no individual stocks there. so far this year i've made like 12k. not bad for only investing like 100 a month.

 

[El_Mero_Mero]

What benefits do you feel a Traditional IRA has over a Roth IRA?