Timothy Sumer

So How do you Become a Million investing into a Roth IRA, and what are the benefits and the cons of using one. IN this video I’ll tell you where you can open a Roth Ira, what I invest money into, and last how much you’ll need to invest monthly. 🎁ACORN FREE $5🎁 Link: 🎁M1 FINANCE FREE $10🎁 Link: Roth Ira What is it: you invest your after-tax money, and it grows tax-free, and when you take money out during retirement it's also tax-free. But even if you are not in retirement you can take out the capital you put in without any penalty after 5 years. ( but before that and it’ll be 10% penalty) How much to invest to get to 1M Dollars: - Monthly you just have to invest $188.28 ( 47.07) - For around 40 years at 10% return - You literally only contributed 90,372.49 but because of dividends, growth, and compound interest, you have $1M sitting in your account. The Good: - Tax-free growth: when you invest money, your investments pay you dividends and you have to pa