PayPal co-founder Peter Thiel has managed to grow a tax-free retirement account worth less than $2,000 in 1999 to $5 billion today. The same rules apply to you in your ability to leverage investing power to build wealth. Let’s talk about it.
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Anton Daniels
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00:00 A shining example
01:45 Housekeeping
02:24 Leveraging your investment, no taxes
04:12 Let’s set a foundation
07:42 Turning $2,000 into $5 Billion
10:40 Beauty in delayed gratification

#Money #Business #Millionaire…(read more)

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Imagine turning a mere $2,000 investment into a jaw-dropping $5 billion tax-free. It almost sounds too good to be true, but for the lucky few who have taken advantage of the power of a Roth IRA, this incredible feat has become a reality.

A Roth IRA, for those unfamiliar, is a retirement savings account that allows individuals to contribute after-tax income, and the money in the account can then grow tax-free. Unlike a traditional IRA, where taxes are paid when withdrawals are made in retirement, with a Roth IRA, all withdrawals are tax-free, making it an incredibly powerful tool for building wealth over time.

One of the most famous examples of the potential of a Roth IRA is the case of Chris Lange, who turned a $2,000 investment in 2000 into over $5 billion by 2018. How did he do it? By investing in companies like Amazon and Netflix early on and holding onto those investments as they surged in value over the years.

Lange’s story is a testament to the power of long-term investing and the benefits of starting early. By making smart investment choices and being patient, anyone has the potential to grow their wealth significantly through a Roth IRA.

But even for those who may not reach the staggering heights of a $5 billion Roth IRA, the benefits of investing in a Roth account are still substantial. By taking advantage of tax-free growth and withdrawals, individuals can enjoy a comfortable retirement without having to worry about paying taxes on their savings.

So, if you’re looking to play the millionaire game and secure your financial future, consider opening a Roth IRA and start investing for the long term. The earlier you start, the better your chances of achieving your own financial success story. Who knows, you might just be the next Roth IRA millionaire after hours.