How to Make $6,000,000 by the Time You’re Born - Laker Newhouse
One of the most important games you will ever play has thousands of pages of rules. Tens of millions of dollars ride on your strategy. The game is personal finance, the rules are the tax code, and there is a way to win across generations. How well can you do in a lifetime? Success is exponential. Historically, index funds in the stock market grow 7% per year adjusted for inflation. After 50 years of growth, a $100K investment becomes $3M. Not bad, but another 50 years would yield $90M. The difference is staggering! And the secret is there is a way for you to take advantage of the extra time. The key player in this story is the Roth IRA. You can put up to $6,000 every year into your Roth IRA, which then grows tax free and can be withdrawn tax free. However, you have reason to never withdraw from your Roth IRA in your lifetime. This is because, before you die, you may designate an heir who will inherit your Roth IRA funds upon your death. This heir must begin withdrawing from the IRA, bu
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