Military Money
Motley Fool Answers
The Motley Fool
4.4 • 823 Ratings
🗓️ 31 January 2017
⏱️ 21 minutes
🧾️ Download transcript
Summary
With the help of a letter from listener Sergeant Y and returning guest Douglas McCormick, we'll explore the personal finance challenges faced by those in the military. We'll also answer your question about whether or not to front-load your Roth IRA contributions.
Transcript
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| 0:00.0 | This episode of Motley Full Answers is brought to you by Rocket Mortgage by Quick & Loans. |
| 0:04.2 | When it comes to the big decision of choosing a mortgage lender, work with one that has your best interest in mind. |
| 0:10.5 | Use Rocket Mortgage for a transparent, trustworthy home loan process that's completely online at quickenloans.com slash full. |
| 0:20.8 | This is Motley Fool Answers. I'm Allison Southwickwick and I'm joined as always by Robert Brokamp, |
| 0:25.6 | personal finance expert here at the Motley Fool. And he's also the advisor on Motley Fool's |
| 0:29.7 | Rule Your Retirement newsletter. Hello, bro. Well, hello, Alison. This week we're taking a look at the |
| 0:35.3 | money challenges of those in the military. We're doing it with the help of a letter from Sergeant Y, who is trying so hard to get his |
| 0:41.5 | soldiers to take better care of their money through the teaching power of push-ups. |
| 0:45.8 | We'll also answer your question about front-loading your Roth IRA. |
| 0:49.5 | All that and more on this week's episode of Molly Fool Answers. |
| 0:53.2 | It's time for Answers! |
| 0:55.3 | And today's question comes from Josh. |
| 0:57.2 | Josh writes, with tax season coming to an end, I was wondering your thoughts on front-loading |
| 1:01.4 | my Roth IRA. |
| 1:02.6 | I've always deposited $200-ish dollars every two weeks so that I'm maxing out at the end |
| 1:07.6 | of the year, but I always see articles about how much better front-loading |
| 1:11.8 | an IRA is. What are your thoughts? |
| 1:13.7 | Good question, Josh. First of all, congratulations for maxing out your Roth every year. |
| 1:18.7 | Gold star to you. |
| 1:19.6 | That's right. And by front-loading, what he means is just maxing it out as soon as possible |
| 1:24.2 | in the beginning of the year rather than putting in regular contributions throughout the year. |
| 1:27.7 | And so the question for anyone who is contributing to an IRA, but also anyone who comes |
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