For everyone out there who thinks what I am saying is crazy or impossible, I made a second video (part 2) just for YOU! It provides further detail and examples on how to reach that 1 million dollar ROTH IRA! Here is the link to part 2: kzfaq.info/get/bejne/mM6Hm8aeutjWqYE.html

I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.

Choosing a Roth IRA is advantageous as it uses after-tax funds and allows tax-free growth. When I retired, I had $1M million saved, and I won't be taxed on my withdrawals.

At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.

I might have missed this but another big advantage to Roth IRAs is they do not have Required Minimum Distributions (RMDs). This gives you better control over how much money you must withdraw (heavy liquid) and declare as taxable income, after age 72. For anyone with a large traditional IRA, they might end up in a higher tax bracket when RMDs kick in. I've heard it called a Tax Bomb.

Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.

I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per mnth through my super which gives me total $240,000 a yr to live comfortably. I have no debts ... Stay Motivated!!

I hope to buy a sandwich one day. Thanks for this video!

Started maxing out roth ira at age 25. Will do until i retire.

I’m dead he said this is OJ Simpsonized 😂😂😂

There are annual Roth IRA limits. For example in 2018 the max contribution amount was $5,500 year, & if over the age of 50 it was $6,500 year. For the years 2019 & 2020 the maximum amount was increased to a maximum of $6,000 & $7,000 if over the age of 50. $583.33 a month x 12 months = $7,000 In your white chart example for age 50, your yearly contribution of $19,800 has exceeded the yearly maximum by $12,800 at the year 2020 rate. It is impossible to bypass the IRS rules for contribution.

Came across your video 5 years ago, right before covid. In my 30’s but been putting money in my TSP like i’m in my 50’s. That simple configuration catapulted my compounding potential. Cant thank you enough.

im 17 and u just motivated me to get one set up. Thanks man

I’m 18 right now, but i hope i would’ve started when i was in the womb

I swear that breakdown gives me so much hope. I’m almost 27, that’s amazing to hear. I’ll happily sacrifice a few times eating out!

I’m 20 and I’m putting $120 a week into my Roth IRA. Exactly what I need to max out every year. I maxed out 2018 a couple of weeks ago.

I have always been fascinated by investing, but without adequate knowledge on the right thing to do, I find it difficult to start. *I politely ask, what’s the best sector to invest in?*

This video needs to be included in every public school curriculum. It can play in the cafeteria once a week. It will bore them when they're young, but it will grow on them slowly.

Great video Mark! Thank you for sharing this great information. I need to have my kids watch this!

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...

“OJ simpsonized” 😂😂💀

I've got to admit, this was a punch in the face. The best 12 minutes I've seen in a long time. Straight forward, No BS information. This should be a required curriculum for teenagers! Thanks

Just turn 24 and you just got me very motivated to open and start a Roth IRA !! Thank you 🙏

Thank you I just did my Roth IRA on the betterment. My contribution will start next month

This gave me confidence to switch my 403 into a Roth. Thank you so much.

(Finally!) just opened my Roth IRA account and uploaded a video of the process! Wish I would have done it years ago😅

I like Mark's delivery straight to the point.

33 years old and I just heard about a self directed roth. Ima watch all your videos man. Thank you!

I like the "slow and steady plan" while you are snapping your fingers and moving quick. Mark, you are awesome and I appreciate you.

Glad I did a 401K with my employer as it was needed, I am 23 now been with the company 3 years, doing 5% and they match up to 5% every year and so far 2 bonuses to deposit into my account of $1500 total. They are going to stop giving pension next January so I definitely want to start a Roth. Thanks for that

I’m 17 and a high school senior. I work as a CNA and house sit occasionally. I’m working on saving lots of money right now while I have zero bills. I’m starting a Roth IRA next month. I’m so excited!

The trick is just: SAVE MORE. Take advantage of real, compound & continuous interest. Thank you Mark love the word "Self direct."

This one video may have changed the course of the rest of my life. Because if it, I went online and installed a compound interest calculator. I was nearly in tears when I ran calculations on what I would be worth now if I had invested as little as $5K or $10K way back when I was 25, and then factored in different interest rates and different annual addition amounts. It's absolutely CRIMINAL that it's not MANDATORY to teach this sort of thing in schools. There's an old saying - "The best time to plant an oak tree is 20 years ago." The same is true for investing. If you're young, and reading this, PLEASE follow this man's advice. Don't play catch-up, like I'm about to have to do.

Thanks for this! Much better this time around :)

"OJ Simpson-ized" LOL I SEE WHAT YOU DID THERE.

I wish I'd done it before, but I was misinformed for a long time. Thank you, you don't look younger than 40 but you have great attitude.

I started a Roth IRA at the age of 70 - I max it out each year! When I reach 90 ...... I'LL BE A MILLIONAIRE !

I CAN DO IT, THANK YOU🏆🏆🏆

Best explanation I have ever heard! I wish you were around when I was in my twenties!

This is amazing. I was trying to Put the maximum 6,000 a year. But this is an good plan. You are an amazing coach. Thanks for the information.

Lots of value on this video! Thank you so much!!!! Subscribed!!!

I just moved here in the US and i just started my RoTh IRa and i maxed it out.. i hope i can still reach the target☺️

Thank you for the lesson on ROTH IRA.

Have a coworker who was rolling the 401k into their Roth IRA because they has so much in the mandatory distributions at 72 were going to force them into a 34% tax bracket. They rolled over whatever they could while maintaining the 22-24% tax brackets. After doing that for years they knocked down the 401k enough that the mandatory distributions won't cause a massive tax liability. They have well over $1 million in a Roth IRA. Amazing what 30-40 years of saving and investing will get you..

Thank you for giving me hope for the future! I’m inspired. 🙏

I’m 18 & just started mine 🙏🏾

Thank you! I'm in my 30's.. I wasn't sure how this worked but you broke it down so easy!!!

This is awesome Mark! Calling your firm this week!

I just up'ed my contributions from $275 bi-weekly to $350. Im still in my 20s. My Roth is my baby. I feel like im looking out for my future by investing in it. I dont miss the money every pay period and i know i am doing something good for my future! 💕 I also have goals to be a millionaire way before i reach 67! Great video!!!

Mark you make excellent videos. This video encouraged me to open a Roth IRA and start contributing in addition to my 401k. Keep up the great work! 23yr Accounting student from Chicago.

I’ll live off my dividends by 67 hopefully and the money will still be growing. I have some go into a Roth but I prefer the pre-tax option better. Pre-tax lowers my tax bracket and in CT, the taxes are ridiculous so it’s great for me. Currently making 20% returns on my dividend portfolio for 2019. It’s a good year for investors.

I started investing aggressively this year at 23 and I am already mad at myself for not starting at 18. But I am glad I understand tax-free growth now so I am ahead of the game then never at all.

Mark- Thank you very much for sharing your Knowledge with me/us. My life WILL improve with this knowledge. Have a wonderful day!

Haha here I am thinking 5k a year at 20 was probably weak sauce in this strat, but looks like I'll be 20 years ahead 😂

The roth is an essential vehicle for financial planning. It's actually mind blowing how many people are discounting the TAX FREE aspect of this investment vehicle; throw in tax free compounding and it's a no brainer

Thank you for sharing, Mark. Great video with easy-to-understand about Roth IRA

Awesome! Very informative and detailed, just what I was looking for!

Thank you Mark,very encouraging and you make it sound possible to retire with Roth alone.

I'm 52 and going to cancel my traditional IRA to set up a Roth one today! I can't believe we don't teach this stuff in schools. I was making 1.5 % for years. I'm so mad! Thank you Mark. Great videos

good thing I clicked on this video instead of the typical KZfaq distractions. ill get a Roth started ASAP!

Thank you so much for making this video 🙏🏻🙏🏻🙏🏻

This is Oj-simpsonized 😅😅; never heard that before!!!!

"OJ simpsonized" LOL

Good video!! Knowledge is power. Consistent contributions in low-cost index funds will eventually get you there.

Appreciate your video! Recently I’ve learned not to go after the home runs, but to go after the singles and doubles to go after a steady 10-15% per year! It sounds slow to most people, but so do-able and can mint millionaires with your savings plan.

Love the Austin Powers reference!

max IRA contribution for this year is only 6000 dollars.

I’m glad I subscribed man thank you for this video

I'm about to turn 30 in a month ... Last year I started saving weekly 300 dollars on January 1st and I broke my piggy on December 31 and I almost got 17k.. I wish I knew about this video since then. Next year I'm starting for sure .

I am a 17 year old and have been really focusing on my finances for the future. I have had part-time job for the last 2 years. I have saved up all my money from my job and as soon as I turn 18, I am immediately putting the max I can put into a Roth IRA. This seriously should be taught in every high school. I am shocked that in my finance class we never talked about any sort of retirement plan.

Thank you for this video.

I am 31 just starting thanks for awesome information

I'm not tracking. If the max amount you can put in is 6k per year then how do you follow your plan when your 50? I can't put in the 20k

A couple of risks to consider, especially if you're 20 and considering a 47 year plan. 1. ALOT can happen in half a century, not excluding changes to legislation and tax laws. Don't assume the way things are now are the way they will always be. There's nothing to stop the government from confiscating your savings, like they already do with your social security. Consider bail outs, bail ins, or even a war. It's risky stuff. 2. Saving fiat currency is unwise, even if your interest is outpacing the average rate of inflation, because all fiat currencies eventually die, it's inevitable, not one in history has ever survived, and if you think your local fiat currency is any different, just look up the national debt of your own country and the decline in purchasing power of your currency. NO fiat currency is immune from hyperinflation and eventual collapse, in fact the very nature of a fiat currency makes this an inevitability. It's not a matter of if, but rather when. As another educated commenter here pointed out; if it puts money into your pocket, it's an asset. If it takes money out of your pocket, it's a liability. If you're a wise investor you'll accucumlate assets and generate tax-free passive income/cashflow. A penny saved is not a penny earned.

LOL OJ holy crap. So good. Youre the man dude

I LMFAO ...OJ Simsonized. I just subscribed!!

Great job with this fast and simple explanation Mark! Keep up the healthy advice. I loved reading the comments about people who have found this motivating and life changing!

I'm 25 and have been maxing out my ROTH IRA every year since I was 23.

This has to be the best information on getting to a million dollars on you tube hands down. This is so practical. Thank you 🙏

good simple explanation for everyone to understand, thanks!

How can a 50 yr old put in $1650 per month when the 2021 IRA contribution limits: up to $6,000, or $7,000 if age 50 or older?

The first million in stock is always the hardest but afterwards it gets better and if you ask me I think picking red chip stocks sometimes is the smartest move to make because they can sky rocket on the long run so yeah Smart move..I just sold TSLA,NTFLX and S&P 500 this month (vacation secured✅😂😂). Picking new ones soon depending on what my FA decides. We’ve got it all planned out. She knows exactly what to pick. Work smart people...work smart. I’m cheating stocks and it’s working for me😂😊😊

Thank you so much! You are the best and a God-send!!! Please keep making videos

I started investing in a IRA when I was 22. I invested $2,000 a year. Im 29 now. I have $170,000 in my IRA

I’ve watched multiple videos on RIRA’s and they were all helpful. However this car analogy is the best I’ve heard, and makes it easy to explain to those who understand even less than I.

Great breakdown, it is totally doable! I retired early because I started investing my money - I didn't leave it sitting in a savings or spend it all on things that don't make my money work for me! Thank you.

I'm teaching my 13 & 15 yo's this. I don't even mind if they live at home for several years as long as they are working, getting an education, and contributing to their IRA's.

I like your energy and your humor. Thank you for the info! 😁👍👍

Heartbreak... I’ll be 50 in 100 days. Scared.

How can anyone invest $19800 per year into their Roth IRA at age 50 when the max. allowed is $7000 per year?

Awesome video! Very informative and easy to understand for those of us who have NO idea what this stuff is!

met you at a real estate event when you spoke about taxes and llc's . blew my mind thank you sir

OJ simpson had his NFL pension fund that was UNTOUCHABLE!!!!

Starting early is the best way of getting ahead to build wealth, It's such a pity most folks spend more and invest less while intelligent people always try to harness any investment opportunity. I've been diving deep into stock options.

More knowledge by watching your video, thank you.

What an awesome video.. love the energy and positivity.. Most of all.. you didnt leave anyone out..

You don't mention the limitation on yearly IRA contributions between $6k - 7k per year. Your savings figures for age 50+ make no sense.

Step 1: Open ROTH IRA. Setp 2: Deposit $1,000,000.

You’re amazing gentleman!!!

IRAs cannot be more than: $6,000 ($7,000 if you're age 50 or older).