Mark Kohler explains how to fund a Roth IRA with $7,000 yearly ($600 monthly) through side hustles like office cleaning. Write off your home office, vehicle, computer, and phone, making the first $1,000 monthly earnings effectively tax-free.
Fund your individual Roth IRA. Now, this year, if you're under age 50, you can do 7,000. If you're 50 or older, you can do 8,000. And that's the starting point. So I want you to start with those amounts, which are going to be, you know, an average of 600, $700 a month. And I'm going to put that away into a Roth. And if some of you are like, how do you make an extra 600amonth? I don't know. Do you have two evenings a week for a couple hours, maybe three, where you could go clean a little office or a little strip mall operation? People, it's out there for the taking. Don't let anyone else take these jobs away from you. If you want to make 500 bucks, 1000 dol a month, I can make it tax free. On top of that, we can write off home, office and auto, computers, electronics, your cell phone. This is why I love side hustles. The first thousand a month, I can make that tax free almost with every client.
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