RETIREMENT INFORMATION & FREQUENTLY ASK QUESTIONS 

We get asked about retirement and trading-related questions all the time, and we will answer some of your questions here. We are not a broker or specialist with a license that provides professional advice to clients about retirement. Information written and express on this page is base on opinions and not facts. For more information, please check with a licensed professional.

Retirement Information

Individual retirement accounts or IRAs are tax-advantaged accounts that hold the investments  until retirement. There are two main types of IRAs: traditional and Roth.

you'll need to choose between which is more suitable.

 

Which is better?

The most significant difference between a traditional IRA  and a Roth IRA is how you are taxed. Traditional IRAs are tax during contributions, Meaning withdrawals in retirement are taxable. Therefore, contributions to Roth IRAs are not tax, meaning the withdrawals in retirement are tax-free.

Contribution limit allowed.

ROTH and TRADITIONAL IRAs:

$6,000 in 2020 and 2021 ($7,000 if age 50 or older)

 

ROTH IRA

  • Contributions can be withdrawn at any time without taxes or penalties which for traders are attractive. 100% tax and penalty free.

  • Withdrawals are penalty-free beginning at age 59½.

  • No age limitations on contributions.

  • Withdrawals at retirement are tax-free.

 

  • After five years, up to $10,000 of earnings can be withdrawn penalty-free to cover certain qualified expenses such has homes and school purposes.

 

TRADITIONAL IRA

  • Withdrawals are penalty-free beginning at age 59½.

  • If deductible, contributions reduce taxable income in the year they are made.

  • No age limitations on contributions

  • Distributions in retirement are taxed as ordinary income.

 

  •  After five years, up to $10,000 of earnings can be withdrawn penalty-free to cover certain qualified expenses such has homes and school purposes.

  • Please check with a professional before opening a retirement account.

Most brokers provide IRA options. There are a high possibility your current broker offer retirement plans.

BROKERS:

 

Many top brokers provide retirement services, and the two recommended above are base on personal reviews. They may not be for you. We suggest before opening a retirement account to do thorough due diligence first.

Rollover IRA

A rollover IRA allows you to consolidate or rather move funds from your old 401(k)s and other workplace retirement accounts throughout your career. You can continue to save for retirement and have control, flexibility, and a centralized view of your investments with a new account.

Charles Schwab
 

Frequently Ask Questions.

HOW MUCH MONEY DO I NEED TO START?

Realistically, Anywhere from $1000 – $3000 is a good starting point for a small account. If you have the guidance of an experienced trader, $500 is also good if you want to accelerate your growth quickly to 25,000.
we recommend $4,000 to $5000.
Success is not given but created! Our day trading strategy mini-course can help you take that first step.

WHAT BROKER SHOULD I USE?

We recommend choosing a broker with free commission when starting out

WeBull, TD Ameritrade(TOS), Robinhood, E-trtrade, Charles Schwab

CAN I TRADE EVEN IF I HAVE A FULL-TIME JOB?

Yes, definitely! We start trading from 8am (EST) to 4pm (EST). Some of our members started with us while having a full-time job. Join our team.

DOES YOUR DISCORD PROVIDE A FREE TRIAL?

No, We know the knowlege our discord group provide will greatly improve your overall ability as a trader.

at this time we do not provide a free trial.

 

CAN I CANCEL AT ANY TIME?

Yes, cancellation information is provide in our discord and return policy Link.

https://www.wallstreetsttatrading.com/copy-of-wins-vs-losses-performace

DO YOU OFFER A BEGINNER COURSE?

Yes! We  currently have two starter Mini E-book which provide PROVEN and easy to follow strategies and market instructions to help get you from a nervous Novice to placing your first trade with confidence. Personal coaching is in the works and coming soon.

HOW CAN WE GET  IN CONTACT?

Email us any time WallstreetSTTATrading@gmail.vcom