Turn $7K at 22 into $500K by retirement! Learn how a Roth IRA and compound interest can grow your money tax-free — start early, watch it grow, and achieve financial freedom!
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Disclaimer: I am not a financial advisor, CPA, or tax professional. This video and the ideas presented are for educational and entertainment purposes only and should not be considered financial or legal advice. It is essential to conduct your own research and consult a qualified professional for guidance tailored to your unique circumstances. I share my passion for personal finance, stock market investing, and money management to help others on their financial journey, but these are my personal views—not individual financial advice.
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@MikesFinancialEdge
What would you do with an unexpected bonus? Let me know your thoughts and thanks for watching!
@cjvan713
The Roth IRA was started in 1997. That was 28 yrs ago. 22 to 67 is 45 years. That means if someone started when they were 22 in 1997, they still have 17 more years to go. The crash of 2008 already happened, but investment firms turning into liquidation companies are going to create another one soon. There are companies that are turning profit but are having to file for bankruptcy. I didn't have faith in the current system 20 years ago. Especially after '08. What was it, something like 43% of investments wiped out across the board? Some more than others. I'll never forget the 72 year old man working at Subway because he was one of lost 100%. Two doctorates and he has to work at Subway to pay for his living expenses. I have no idea how he was able to keep such a genuine smile on. My retirement plan itself deletion. I've been on the streets twice when I was younger and I will not be an old man in that same position. I'll check out before then.
@stevesilver7437
This is so great to hear this. I have a 13 year old son. I am a older parent. I thought about starting one of these for him and just let it be until he finds out about it. What do you think?
@DaveGillett-q1u
Great lesson in this video. Like many others, I sure wish I would have started investing sooner.
@Stand.Your.Ground.
Nope bitcoin.
@lucastraman706
7k bonus?
Im quiting immediatly and getting a better job. Unless they clearly need me.
@hrushikeshavachat900
Started at 23. Now 30. Already having around 30000 dollars in my investment portfolio. I am not from USA and I need around 100k dollars worth in my account after taxes to retire.
@hortensiasoto4389
smart 22 year old
@pasculaurentiu000
In 47 years with 500000$ you'll get a pack of cigarettes, if dollars will exist then
@joshsandquist6917
In 10 years since i stopped putting loney i to my roth. It has doubled.
@brapcast
That 500k has the same spending power as the 2k did 50 years ago. Well good chance that either one of them were dead long before 67. A Roth IRA is still gambling, that money could've disappeared at any time.
@davemago8880
Billionaire eat billionaire
@grpdv
This is slightly misleading as it doesn't factor in currency debasement.
@The_bloodline-c9e
Hi great video
I am 17 thinking of starting an investment before 19 what do u suggest?
@hugo.canosa
Going on vacation and enjoying yourself is also very very important
@fusion360music6
Yeah well what if you cant travel in your 60s 😂😂😂 man enjoy your life but invest. Dont be so extreme
@monicaepperson719
You are 22 and you are Caucasian, which is why you got the bonus in the first place 😂
@HarryRostran
There are things money can't buy.
@brandongill
67
@CarterHollander-jo6sr
Why leave it alone and not contribute ?
@tatianarodriguez1808
but aren’t you supposed to invest within the roth ira? how did the money grow if the first person just “left it there”
@LG-vc2ln
If this was a real 22 year old he would have smiled after saying age 67. Lmao