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How to turn your $6,000 Roth IRA contribution into $2,437,260

How to turn your $6,000 Roth IRA contribution into $2,437,260

In this video, I’m talking about the Roth IRA and how to turn your $6,000 Roth IRA contribution limit into over $2 Million for your retirement. Investing in the stock market is a long term game where slow and steady can win the race. You don’t need millions to make millions, just time, patience and persistence. The Roth IRA is a great savings account that can help you save money tax-free.

I also compare how much you would need in your 401k to equal the same amount in your Roth IRA. It’s a huge difference and that difference comes down to the type of account and taxes.

IRA Deduction Tips: While they do not get a lot of attention anymore in the modern world of new and exotic investment vehicles, certificates of deposit, or CODs, are still available at most banks. If you want to keep money safe and grow it a little and don't need it for six or more months, check around your area for rates. Always shop around for new rates when the certificate matures.

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Written by Bobby

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