CREATING MILLIONAIRES: POSTERS AIDING WEALTH GROWTH

[BaldingSoHard]

how exactly does a Roth work...my mom dukes been telling to get on it. How if she did it my age she would be caking by now.

And how the IRA work? im getting too old not to know how shyt works

Just recently got a secure credit card. .I literally have zero credit

Brehs help

Basically, it's an after-tax investment.

So it comes out of money that you've already paid taxes on.

So what you do is open up an IRA at any of the financial institutions mentioned in this thread.

Then choose what you want to invest in. If you don't wanna do a bunch of research, look for the "target" funds or S&P index funds.

Then, every paycheck, you put money into the account. It will grow tax free until you retire, and Uncle Sam can never touch it, ever.

There's a lot more to it than that, there's some websites that can explain the details better.

 

[So-Chi]

Cash value life insurance.

 

[The God Poster]

Basically, it's an after-tax investment.

So it comes out of money that you've already paid taxes on.

So what you do is open up an IRA at any of the financial institutions mentioned in this thread.

Then choose what you want to invest in. If you don't wanna do a bunch of research, look for the "target" funds or S&P index funds.

Then, every paycheck, you put money into the account. It will grow tax free until you retire, and Uncle Sam can never touch it, ever.

There's a lot more to it than that, there's some websites that can explain the details better.

ima really dig deep in the thread when I get home

Coli Millionaires

 

[JayGatsby]

@admin
@CHICAGO
@Always-Right Liggins
@Emperor_ReinScarf

and other MODS

I dont know who runs what, but I beg of you....

bless us with an official business/money forum

 

[Sad Bunny]

Picture = A thousand words. Thanks breh this puts it into even greater perspective. I just hope some of these 20-something brehs take the advice.

Imma open up a roth ira asap.

I was thinking vanguard or fidelity

I'm 26.

I also can invest in stocks at my job (top 5 bank in US) for a discount...should I asap?

 

[BaldingSoHard]

Cash value life insurance.

Not a bad idea but most of these dudes are in their 20's.

 

[Apollo Creed]

Thoughts on Employee Stock Purchase Programs?

 

[HoloGraphic]

Richest Man in Babylon.

 

[Field Marshall Bradley]

Nobody really knows when but yea it's coming sometime in the next few years.
Lots of opportunity to cost average downward and increase shares.
It's pretty exciting actually as long as you keep in mind that investing is a long-term thing.

I can't wait until it happens either....

 

[So-Chi]

Not a bad idea but most of these dudes are in their 20's.

Even better...they will never be healthier for underwriting, and the price will be as cheap as it would ever be. They are looking at good money at 50 just saving $100 a month

 

[BaldingSoHard]

Even better...they will never be healthier for underwriting, and the price will be as cheap as it would ever be. They are looking at good money at 50 just saving $100 a month

So how does it work? It's an investment that's also a life insurance policy that you can cash out if you decide not to die?

 

[Listen]

I rolled about 10k from an old 401k into an Td Ameritrade Roth and have yet to even invest it in anything since their system tools are so diverse it's overwhelming.

I want to be aggressive with it, I'm 38.

Anyone have some good funds to just grab?

 

[BaldingSoHard]

Imma open up a roth ira asap.

I was thinking vanguard or fidelity

I'm 26.

I also can invest in stocks at my job (top 5 bank in US) for a discount...should I asap?

26 is a great age to start Gator you gonna retire a rich man.

For your 2nd question, depends on the bank and depends on the discount.

 

[So-Chi]

So how does it work? It's an investment that's also a life insurance policy that you can cash out if you decide not to die?

that was hilarious. It's called whole life insurance, and you pay for it your WHOLE LIFE. The difference is it pays guaranteed dividends with cash value in it, so you can pull from it and still have a full death benefit. Great for tax diversification, and adds something not as risky to your portfolio

 

[BaldingSoHard]

that was hilarious. It's called whole life insurance, and you pay for it your WHOLE LIFE. The difference is it pays guaranteed dividends with cash value in it, so you can pull from it and still have a full death benefit. Great for tax diversification, and adds something not as risky to your portfolio

Interesting...

Are the dividends based on deposits or on the value of the policy?

Nevermind just read about it. Pretty cool I may need to lock this in while I'm young...