On this episode of the Personal Finance Podcast, we're going to talk about how you can use a Roth IRA to become a millionaire

and how you can get yourself a big bank roll. What? What's popping?

popping and welcome to the personal finance podcast.

I'm your host Andrew, founder of Dollar After Dollar.com and today we got a hot one because we're

going to talk about how you can use my favorite investment vehicle the Roth IRA

to retire a millionaire.

And yes, you can retire a millionaire with a Roth IRA.

So we're going to get into a couple of things.

One of which is what is a Roth IRA, how you can actually achieve this goal of becoming a millionaire with your Roth IRA,

and what to invest in inside of your Roth IRA, because all these are extremely important to be able to achieve your goal.

And every year, the Roth IRA is the first thing that my wife and I max out.

It's the first thing that we attack at the beginning of every single new year. And a lot of times we'll max it out on

January 1st to get it out of the way right away and the reason being is I love

everything about the Roth IRA there's so many pros to the Roth IRA. There's so many pros to the Roth IRA that you

will absolutely see results as long as you keep contributing day after day,

month after month, year after year. So first let's get into a few of the numbers because to become a Roth IRA millionaire you're going to have to definitely max out the Roth IRA.

So how much do you need to max out a Roth IRA? So the first thing we want to do is get into some of the numbers as to why you'd want to invest in a Roth IRA. If you actually max out your Roth IRA, you can become a millionaire within right around 30 years.

So if you're a 25 year old, right when you get to the point where you're ready to be able

to take money out of your Roth IRA, which we'll get into pretty soon, you'll have over

a million dollars inside that Roth IRA.

And that's why we max this out at the beginning of the year, because this is actually our

backup plan.

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