The most valuable 10 minutes of your life might be the 10 minutes where you set up an auto-investment into your Roth IRA. That one step can make you a millionaire over time.⁣⁣‎‎‎
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The math above assumes a 7% rate of return over the course of 40 years. As a point of reference, over the last 40 years (since 1985) the S&P 500 has delivered an average annual return of 11.66%, but when adjusted for inflation, the return drops to 8.65%.‎
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Oh, and your easy million is 100% tax fee because it’s protected inside a Roth IRA. Any money invested inside of a Roth IRA grows tax-free and can be withdrawn 100% tax-free after the age of 59.5.‎‎‎
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As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.⁣⁣‎‎‎
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– Jeremy‎‎‎ & Jenn

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By: Jeremy Schneider
Title: What’s an easy way to get rich?
Sourced From: www.personalfinanceclub.com/whats-an-easy-way-to-get-rich/
Published Date: Wed, 26 Feb 2025 01:27:36 +0000

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