Timothy Sumer

I’m running a free “Save $1,000 Challenge” to teach you creative strategies to save money. It’s 5 days long and starts on September 7th. Grab your free spot here: This video is based on a mistake I see way too many people make. I recently discovered that a close friend had made this mistake - and for the last 15 years he thought his money was growing in his Roth IRA, but really it was just sitting in cash. Here’s the mistake people make: They’ll open a Roth IRA, fund it, and then assume that they’ve completed all the steps. The critical forgotten step is that once you fund your Roth IRA, you actually need to decide what to invest the money in (i.e., stocks, ETFs, mutual funds). If not, your money will just sit there collecting minimal interest. Assumptions made for this video: You start at 18 years old You contribute $6 a day (aka $2190 per year) Expected rate of return: 8% Retirement age: 65 At retirement your Roth IRA balance would be $1,071,199 Now at that point, you...