YQD Masterclass: Individual Retirement Accounts (IRAs)
Yo Quiero Dinero
Jannese Torres
4.8 • 616 Ratings
🗓️ 1 March 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
Everything you’ve ever wanted to know about IRAs.
In Episode 9, Jannese talks about:
- Definition of IRAs and what it actually means
- Tax advantages of opening an IRA
- The differences between traditional and ROTH IRAs
- Frequently asked questions regarding traditional and ROTH IRAs
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Transcript
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| 0:00.0 | Welcome to Guilchero Dino, a personal finance podcast for the modern Latina. |
| 0:05.5 | This ain't your abolitas financial advice. |
| 0:08.3 | I'm your host, Janice Torres Rodriguez, and I'm here to help you tackle grown woman business when it comes to all things Dineiro. |
| 0:15.0 | We're going to talk about how to make it, keep it, and grow it. |
| 0:18.7 | On that note, let me. |
| 0:24.9 | Thank you. keep it and grow it. On that note, let me. Hi guys. Welcome to another episode of Yo Kiro Dinerro the podcast. This is your host, |
| 0:29.6 | Janice. And today I'm kicking off a new series called the YQD Masterclass. My intention for |
| 0:37.2 | this new series is to do a deep dive into various |
| 0:39.9 | personal finance topics that you might be curious about and want to learn more about. |
| 0:44.0 | It's my hope that this masterclass series will help you get a grasp on lots of different topics |
| 0:49.3 | regarding investing, saving, budgeting, debt repayment, and more. If you're listening to this |
| 0:55.6 | episode in real time, it's March 1st, 2020, and it has been a hell of a week on Wall Street. |
| 1:01.8 | The stock market has been in turmoil due to the coronavirus outbreak that has been impacting |
| 1:06.7 | global supply chains, and folks are running to the hills when it comes to investing. So I thought |
| 1:13.2 | today's episode would be really timely and appropriate because we're going to talk all about |
| 1:17.7 | individual retirement accounts, which if you have one and you've been looking at them in the |
| 1:22.4 | past week or so, you're probably suffering from a case of stomach sickness. |
| 1:29.4 | So an individual retirement account or an IRA is an investment account that is open to |
| 1:36.9 | invest in the stock market. |
| 1:39.7 | By its definition, it is owned by the individual that opens it. |
| 1:44.7 | So you cannot open an IRA for someone else and someone else cannot open an IRA for you. |
| 1:51.4 | An IRA is not an investment itself. |
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