Thoughts · · 1 min read
Here’s a quick way to invest and get tax-free growth for the next 40 years
This will take you ~10 minutes at the maximum.
- Open a Roth IRA at any major brokerage that offers commission-free trades (Vanguard, TDAmeritrade, etc). It’s free.
- Connect your bank account to this Roth IRA and transfer up to 6,000 of taxable income that you earned in 2020 or 2021.
- Invest it into your favorite funds.
- Rinse and repeat every year until you’re 59.5 years old.
For those who aren’t aware, Roth accounts are after-tax accounts. This means you put in money that has already been taxed. However, the massive benefit is that any interest earned in a Roth account is tax-free when withdrawn.
*Not specific investment advice. Only for educational purposes