The news outlets are going crazy over Mitt Romney’s mysterious $100,000,000 Roth IRA. How could an IRA with a maximum yearly contribution of $6,000 grow to contain $100 million? How exactly has Mitt Romney built his incredible wealth?
Today you’re going to learn about the power of building wealth inside of a self-directed IRA. I’m sharing the secrets of Mitt Romney’s $100,000,000 Roth IRA, how to make smart retirement and tax choices, and what you need to do to build your own wealth!
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When it comes to retirement savings, many people aim to reach a comfortable balance in their 401(k) or IRA. But not everybody agrees.
Take former Republican presidential nominee Mitt Romney, for example. The multi-millionaire has amassed an impressive $100 million in his Roth IRA, a type of individual retirement account that offers tax-free growth and withdrawals. That’s a substantial increase from the $4.8 million he reportedly held in 2012, during his presidential campaign.
So, how did Romney manage to accumulate such a large amount in his Roth IRA? Here are a few potential explanations:
1. Starting early: According to reports, Romney opened his Roth IRA in 1999 when the account first became available. That gave him about a decade of tax-free growth before he even became the governor of Massachusetts in 2003.
2. Leveraging investments: Romney is known for his investment prowess, and he reportedly used his Roth IRA to invest in private equity funds, which can offer higher returns than publicly-traded stocks and bonds. There’s also speculation that Romney was able to buy shares in these funds at a discount, potentially boosting his earnings even more.
3. Making conversion moves: In 2010, Congress changed the rules surrounding Roth IRAs, allowing people with traditional IRAs to convert them to Roths, regardless of their income level. That gave wealthy investors like Romney the opportunity to shift large amounts of money into a tax-free account, where future earnings can continue to grow without ever being taxed.
4. Keeping a low profile: Finally, it’s worth noting that Romney’s investment decisions within his Roth IRA aren’t public knowledge, thanks to the structure of private equity funds. This means there could be other factors at play that have helped fuel his impressive growth over the years.
Of course, not everybody can replicate Romney’s Roth IRA success. For one, the annual contribution limit for Roth IRAs is currently $6,000 (or $7,000 for individuals over 50), meaning it would take decades to amass a $100 million balance. Additionally, investing in private equity funds can be risky, and the average investor may not have access to the same opportunities as Romney does.
Still, Romney’s Roth IRA serves as a reminder that savvy investing and strategic retirement planning can pay off in big ways. Whether you’re aiming for a modest nest egg or a small fortune, it’s important to understand your options and work with a financial advisor to create a plan that makes sense for your goals.
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Peter reported has 5 billion in is SDIRA. Maybe you should do another interview with him.
Good video laying out the different types of IRA options however I think your reporting of Romney’s IRA is a little off. The $100million IRA is in his SEP not his Roth. All of the research I’ve done explicitly states Romney has over $100million in his SEP IRA not the Roth. He will eventually pay ordinary tax on the SEP distributions. Let me know if I’m wrong. Thanks.
Thought you can only put 6k annually? How can you put 36k in?
I like Mitt Romney this only makes me like him more
I'd sure hate to be an owner in the rental house segment of this imploding economy. Most landlords have mortgages to pay while the renters are getting a "Pass" for 90 days or longer.
I used this topic for a presentation in a public speaking class. I remember the blank stares of fellow classmates and the doubting frown on the face of the teacher when I kept driving home the benefits of having your capital compound tax free once it's in the Roth. It's not how much you fund your Roth; Rather it's what you do with funds after they're deposited. Any profits from investing/trading will never be taxed – at all – no capital gains – not now, not when you withdraw – EVER!
Still haven’t said how to get to that amount
Self directed IRA vs solo 401K
I am having a difficult time determining which way to go.
I have an LLC that is a partnership holding company that my wife and I own for properties that we manage in separate LLC's.
Is the fact that we manage the properties in the LLC's enough to qualify me to set up a solo 401K? Or would I be more IRS compliant with just a self-directed IRA.
I would prefer the solo 401K given the ERISA protection, and tax advantages, as well as higher contribution limits.
What amount of salary should I pay myself for management of properties in my LLC if income from my properties is $3000 per month?
Would $300 per month income be reasonable? And, would that qualify me for an IRS compliant solo 401K account?
How do you contribute an investment property into a ROTH when the limit is only $6000 a year? Does that mean you would have to find a house that cost $6000 or below?
I don't care about Pierre Delecto.
Self directed IRA's are a great way to invest. However, asking me to believe that a crook like Mitt Romney built his Self Directed IRA to $100,000,000 in an ethical way is laughable.
Rich people are not evil nor they’re smart. The only wrong they do is hide information like what you just revealed
I also agree real estate is the #1 way to build wealth, just as our forever acquitted President does.
He's a criminal, that's how he did it. It's really that simple. No government employee would ever have $100M in their lifetime.
Why not call him Saint Mitt Romney before the Pope does?
Dear Editor,
The media is attempting to make Mitt Romney, a man who promoted cigarettes into Russia, with the resultant increase lung cancer deaths look like Mother Teresa! You ignore Romney's attempt shut down E-Cigarettes used to quit smoking. Do good Christians profit from destroying businesses and causing people to lose their jobs? Romney the opportunistic , back stabber is giving Mormons a bad name.
Where is that link to the kids working for family company? didnt see it in the description..
Bruh. What is this BS. You know Mitt Romney admitted to creating a fake a Twitter account with a fake name Pierre Delecto to defend himself
Thank you a great strategy
How do you purchase an investment property with a Roth IRA? That's what is snagging me up. It's not like there's Roth IRA checks… Or is there!?
Dave Ramsey talk about back door Roth Ira also
When are you coming back to the USA for the handcuffs?
Mitt Romney is a piece of poop
Thank you, Clayton. Early in 2019 I watched a video where you and Natalie were talking about Self Directed IRA's. I transferred my Roth to a Self Directed Roth and bought a house in it. I watched the rent go there each month. I figure when I am old enough, I can basically withdraw the rent each month tax free. That will be cool. And, as the rent builds up, I should be able to get another house inside that Roth. Thank you, both Clayton and Natalie!
How would one gain access to invest in private Equity firms?
Can't stand Mitt, but put one goid mark on his resume fr his vote in the fake trial. At least one member of the GOP has a limit to how low they will stoop.
This video is amazing, but for the comments not the video. Romney, the guy who was the Republican nominee, a bona fide conservative, American, man of values and ethics, is now overnight suddenly an evil no good very bad guy because he voted his conscience. A vote that didn't change anything at all, and in my mind underlines how strong Romney holds his values.
Get it together, there Mr. Morris
Love Morris! I have a self directed as well. I just started my own YouTube channel … come on over, check it you, maybe I have some tools we can share!!!!
How can an individual retirement account that's limited by law to annual contributions of at most $30,000 grow into a fund with more than $100 million? If we stipulate that when Mittens was at Bain from 1984- 1999, he put the max $30,000 a yr into his so called SEP IRA, then as a baseline his IRA should have valued at $450,000 by the time he left to run the Salt Lake City Olympic Games. If Mittens was a talented investor and his IRA grew tenfold his IRA would be have been worth $4.5 million MAXIMUM. Only the 1% like Mittens in the private-equity or hedge-fund industry can do this because their investors have agreed up-front to compensate the general partners by giving them their upside in the form of virtually free equity in their deals.
MIT Romney is a Luciferian Mormon Who voted to convict Trump to hide his criminality. The hammer is coming after Trump wins the election, no more playing defense, it will be all offense against the criminals
Trump2020
He is stealing our money with all his family members he funneled money through