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Everyone says to invest in index funds within a Roth IRA (or TFSA for Canadians), but no one shows their long term results. I opened my Roth IRA in 2015 and have been investing ever since. In the first few years I didn't invest much (I have regrets) but was consistent after that. Over 8-9 years, I made an average return of 12%, which is slightly higher than the last 50 years. I'm sure it'll even out as time goes on. The best part about all of this is that it was pretty much hands off. Each year, I logged in to deposit money, clicked a few buttons (to invest in the index fund I chose), and boom that's it. I made $30,000 so far in this account. If I don't contribute another penny for 30 years, and the stock market continues to return 10% per year on average (like it has for the last century), I'll have over 1 million dollars. However, I'm going to continue maxing out my Roth IRA every year until I retire, which will put me at well over 2 million. #personalfinance #investing #rothira #finance #money
Duration: 78 sPosted : Thu, 11 Apr 2024 18:25:32Views
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