Mark Kohler shows how to build a $1 million tax-free nest egg using a self-directed Roth IRA. Max out $7,000 to $8,000 yearly contributions, invest for 7-15% annual returns, and let it compound over 35 years. At 8% growth, you hit $1 million tax-free after age 59½.
Want to learn how to make a million dollars tax free? Well I'm going to tell you the secret that the wealthy use. Step one Use a Roth ira. You've got to open a Roth IRA that you can control and self direct. Number two max out your contributions every year and be consistent people. We're only talking about 7,000 or $8,000 depending on your age. Step 3 Invest in what you know. Invest in what's going to get you the greatest return. This is what the wealthy do. You can average 7, 10 or even 15% returns inside your Roth IRA when you invest in what you know. Step 4 Be consistent and be patient. With just $7,000 a year and measly 8% return and over 35 years you'll be sitting on a million dollars. The best part? It's completely tax free. A tax free atm at age 59 and a half. Comment demo below if you want to learn more strategies like this.
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