IRS data shows there are many Roth IRA accounts worth tens of millions into the billions of dollars! Peter Thiel started his Roth IRA with just $2,000 in 1997 and turned his Roth IRA into over $5 Billion by 2019.
How can you potentially build your Roth IRA into the tens of millions? Peter Thiel did it by purchasing shares of private companies at extremely low valuations. Those companies turned into massive winners, generating stunningly high returns. For the average American that's obviously not an option. However, you can attempt to build a massive Roth IRA by concentrating in a single stock that you think has huge potential. Single stock concentration has generated many of the largest fortunes in the world and is one of the most common ways to generate huge returns.
It should go without saying that such a strategy is not appropriate for the vast majority of investors. It's extremely risky and the odds you pick the next huge winner are low.
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