What's the worst financial decision you see 20 30 year olds make not setting up a Roth IRA You could be a millionaire from this and it's incredibly easy. It's a retirement account and by the time you're 65, all that profit you make within the account is tax free. But the goal is that when you're young and doing that, you have 40 Years of compound interest where all of a sudden that 800 to invest could be worth 8 000.
By Stock Chat
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8000 by the time we’re 65 will only be able to buy half a cart of groceries
2023 banks are failing, stocks are all time lowes since trump left, 401k is halved, and people still telling people what to do with money. Clap clap clap…
And a 401k if it’s got a company match. That’s free money right there. Plus it’s easiest for most people because they don’t even notice the deductions. A Roth IRA is easy too though just deposit $500 a month into it.
Dude pulling In millions per month off youtube ad revenue etc. Roth IRA 😅
Sure, let me start living my life when I only have 10 years left.
Gotta have money to put into it! To many people are living paycheck to next paycheck and in heavy debt.
The Roth income limits are so annoying
ThTs saying the usa doesn’t lose the value of the dollar
The goal is to not be a financial burden to your kids/grandkids when you get older. Who tf wants to work at 65. What a lot of people don't take into account is that being old and vulnerable is expensive af just look at your parents/grandparents medical bills
In Canada too?
His math was off – 40 years at a 10% annualized return (S&P average return) would make that $800 turn into $36,000
With $22,000 you would have $1,000,000
Not starting a holding company structured as an S-Corp to hold all of their investments, and then building a trust on top of that with the controlling interest of the S-Corp, and them merely being a Trustee. This way, they mitigate the taxation and form a legal layer of protection against liability and a way out of getting sued into the graveyard by some frivolous litigation and an aggressive lawsuit.
As well as having the legal grounds to protect any Intellectual Property that they might develop into a profitable venture.
Who the hell wants to wait 40 years?
To 10x something in 40 years and thinking it is a good deal is … I don’t know what it is
Yeah that 8,000 is gonna be the hourly minimum wage in 40 years.
I don’t believe in Roths. The only benefit is not creating taxable events every time you trade which reduces hassle and may change your decision process like you’re not going to worry about tax loss harvesting and etc. But at the end of the day the math works out the same, 30% in taxes now is the same as 30% later regardless how much gains you made in between. Roth has the added disadvantage that you’re taxed an additional 10% for early withdrawal though, vs a normal trading account you don’t have that.
But… HEX is outperforming Roth IRA’s by a long shot.
I love how they have no clue what basic math is
lol thats if you live until you retire that is. Lol free money for the government.
40 years of inflation later tho… Roth IRA in Bitcoin might work
"Non taxable" … it's taxable only when your doing your taxes you have to pay up front at the tax office
800$ *12 months =9.6 k + 7% assuming each year 10.272 k per year
now that will be more than 4,10,880,000 $ after 40 years
ajusting to inflation that will 3,00,000,000 $
Oh wow 8000. Let me get on that.
80,000*
just 10x after 40 years??? that’s trash tho…
If you saved enough already you wouldn’t need advice from ticktoc.