How To Retire As A Tax Free Millionaire!
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Yeah the problem is no one’s educated about this in the local schools so no one knows about it except for the rich elite assholes who refused to teach us thank you
If you have a cellphone in your hand and you’d rather rot your brain on TikTok rather than educate yourself, that’s on you.
@lotsaspaghetticodejr.6488There you go making assumptions about people not knowing what the other person thinks or knows it’s kind of problematic when people like you make statements and you can’t back your statement and when people questioned it and bring in information you turn around and attack them and make fun of them know I don’t spend my time on tiktok I don’t spend my time on Facebook and I don’t have an account I don’t care to have social media because I’d rather spend my time learning and bettering myself and that’s why I say that not everybody can get one of those accounts and when they do they need someone to run it for them kind of like you because your business the company you work for runs your account
skill issue
But then again it’s until you have 65 like… what would you use the money for? Go to the store and return? Buying gifts for the grandkids?
I am fortunate enough to work for a company who offers a Roth 401k.
I set my contribution limit to a staggering 16% because I have minimal debt so I can afford it.
Every Friday I get excited to look at how much it’s grown. It’s been holding a 20.9% APY from how I structured it.
How long have you had that roi and how do you structure it
You should still have a ROTH or Traditional IRA.
Do both and max it out each year
Generally, investing early is a wise choice only if you don’t have a lot of high-interest debt. Given the amount of consumer debt among young people these days, it’s likely the most common mistake is the series of life choices they make that put them deep into debt. Young people in that situation usually should prioritize paying down debt rather than thinking about retirement investing.
That’s assuming they have debt? Investing as early as possible still would be better than paying something off with less than 5% interest am I wrong?
@chrisduvall3668 Yes, I’m starting from the premise that a lot of young people have substantial amounts of consumer debt. A much of that consumer debt is not a mere 5%; it’s credit card debt or high interest car loan debt, and often even payday load debt which can be in the 200% range.
So no, I’m not sure that failure to invest early is is often the mistake so much as it is a symptom of a different problem, i.e. too much high interest debt early on.
@chrisduvall3668 he clearly said high interest debt which is obv way more than 5%. The average credit card for example has 21% APR some much higher. So his assumption here is absolutely valid given credit card debt has skyrocketed in recent years showing young people are the cause
Everyone’s a millionaire in Zimbabwe
Glad I got a lot of silver in my roth last year lol
In 1980 $800 was worth about what $3,100 would be today soo there is that
Absolutely correct. It changed my life
You could also set up a roth super IRA you just invest $1 a month and after 1 billion months you’ll be a billionaire
No market moment screams BUY $XA20N more than right now. Waiting on Trump-backed XA20N and other major buyers.
If Elon touches it, I buy it. $XA20N is a no-brainer.
Buy and hold $XA20N if you care about your future!
$XA20N is what XRP was in 2021. Mark my words.
Hmm what about buying a 30k car, putting 30k mods/repairs into it, then having it be worth 13k when its all paid off?
If you invest the max amount annually in a Roth IRA when you cash it out in retirement you’ll have 20,000 extra dollars versus not bothering with it and investing that same money some other way for the same pre-tax return. If you have the extra money laying around go ahead and do it but I would not worry about this if you haven’t
It’s gross how looked when he said you’ll get addicted. What a creep