Roth v. Taxable Account
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
13 min
4 speakers
2 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
How do Quint and Allie introduce the Roth vs. taxable account question?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show.
Ladies and gentlemen, you're listening to another edition of DIY Money. Allie, it is 4.30 p.m. and you're drinking coffee.
Yes.
What is going on with you?
Tonight, I'm going to see the premiere of Wicked 2. That's not what it's actually called. Wicked for Good, I think, is the official name. And our showing is at 9.30, which isn't that bad, but it's like a three-hour movie. And I am notorious for falling asleep during movies, so we cannot take any risks. So I'm getting fired up at 4.30.
Allie, are you doing this with your high school girls that you're mentoring?
No. How old are you? I'm doing this with my roommate. Why? Because it's an awesome movie.
Yeah, I know, but aren't you going to be in the office tomorrow at 8 a.m.
? Not at 8 a.m.?
I'm saying that right now. Oh, my gosh.
I mean, at some point, these things that you do, like, end, don't they? No, come on. They don't? Midnight is not that bad.
Hate that rock and roll rubbish. Well, I'm afraid it's here to stay.
Now, if I was going to Cincinnati and going to get back at four, I might say that's not a great idea.
Do you know the people that are listening to this right now that are saying to themselves, oh, to be young again?
Yeah. I'm trying to soak it in while I can.
When you sit at the movie and watch your first preview, I better be in bed reading on my Kindle.
That's on you. That's too early to go to bed. No, that's unbelievable. 9.30? There's so much day left.
No, there's not.
I go to bed, on average, I would say 10.30 or 11. That's okay.
Not tonight? You won't?
Tonight, it's probably going to be 12.30 is my guess. But that's not that bad.
I can't wait to see you in the morning. I'm going to come into the office. We're going to do a lot of work together tomorrow.
I'm going to smack you. I just already know. We're going to come in and be like, it's 8 hours, 8.45, good morning. Oh, it's going to be great. And I'm going to be so mad. Oh, it's going to be wonderful.
Oh, my goodness. I like my girls wild, but that's insane. Okay, well, that's fun. You'll have a good time. That's why you're drinking coffee.
I will report back.
I have to get ready. All right, what else is going on in your life?
Oh, geez. That's about it. Getting fired up for Christmas season. I told Logan this last week when you were out, but we just decorated for Christmas. Good. Last week. So the tree is up. I'm starting to get in the festive spirit, and I'm excited for that. What's new in your world?
Oh, you know, not much. I don't know. Same old, same old. My son's coming home for Thanksgiving. I'm very excited about that. Flies in on Sunday. We're cutting this the Wednesday or Thursday before the weekend, before Thanksgiving. So he comes in.
Is Brandy in everything-has-to-be-perfect mode, like, freaking out? Or is she chill about it? I don't know.
I don't think so. I've not picked that up. Although the house has been abnormally clean.
I feel like my mom, when I would come home from college, everything had to be perfect. I could tell that she had been, like, panicking for weeks.
Yeah, I don't know. Maybe. I have not picked that up, but it doesn't mean that it's not happening.
Fair enough.
I'll pick it up as time goes on.
She hasn't spoken to him since she was on the podcast.
All right, let's pause briefly for our sponsors. All right, great. We've got a great question today from Kaylee. Kaylee, what do you got? D-I-Y-L.
Hi, this is Kaylee from Texas. I'm 21 and I'm studying for my master's degree. I work part-time also with an income of about $6.50 a month, and I'm able to keep my expenses pretty low and save about 30% of my income. I have no student loans or car payments, and about 10% of those savings goes to a high-yield saving account. And my question is, how much of the rest of my savings should I put into Roth IRA versus a taxable account? that is invested in the index fund? And how do I go about considering what portion to contribute to each?
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