A Roth IRA is a powerful wealth building tool
Let me show you how it works:
Let me show you how it works:
A Roth IRA is an investment account that offers tax free growth on your gains as well as tax free withdrawals
You can withdraw money without penalties as long as you have owned the account for 5 years and are over the age of 59 1/2
The maximum that you can contribute to a Roth IRA in 2023 is $6,500
Once the money is contributed
You must go into that account and invest it. It is not automatically invested
How you choose to invest it from there is up to you
You must go into that account and invest it. It is not automatically invested
How you choose to invest it from there is up to you
My friends over at @investwithroi have developed the best platform to consolidate all your investments in one place & take control of your financial future
Use my invite code DIVDND to get Roi — one app to track & grow your net worth. getroi.app.link
Use my invite code DIVDND to get Roi — one app to track & grow your net worth. getroi.app.link
There are upper income limits for your ability to contribute to a traditional Roth IRA
My friend @Budgetdog_ does a great job covering backdoor Roth IRAs for high income earners
My friend @Budgetdog_ does a great job covering backdoor Roth IRAs for high income earners
A topic I often get asked is regarding buying higher paying dividend stocks in a Roth IRA
Here is a helpful resource on that:
fool.com
Here is a helpful resource on that:
fool.com
Some simple math on why maxing out your Roth IRA is so important
If you contribute $6,500 every year for 30 years you will have put $195,000 into the account
If you earn an 8% return on your money
You will have $809,000 in TAX FREE money
If you contribute $6,500 every year for 30 years you will have put $195,000 into the account
If you earn an 8% return on your money
You will have $809,000 in TAX FREE money
As you can see
A Roth IRA is just one tool that investors can utilize to build wealth
A Roth IRA is just one tool that investors can utilize to build wealth
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I help investors get rich then get off the grid one dividend at a time
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1. Follow @HeroDividend
2. RT the top tweet
I help investors get rich then get off the grid one dividend at a time
👇🏻👇🏻
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