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  1. #1
    The Fire Within
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    Default How to retire rich as fuck

    so after doing some calculations, my current retirement fund will come out to $3,994,000 tax free. How you say?? thanks to something called a Roth IRA. I can put $5,000 a year max, and it uses compound interest. i started at 19 (which i still am) and the average rate of return for the past sixty years has been 12%, so i calculated at 10% average to be safe. tax free because your taxed on the Money you put in, so that money plus earnings is tax free. of course theres always unforseen finacial shit, but its nice to contemplate what could be, especially when its actually feasable. start young kids...it'll be worth it

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  2. #2
    Thrive
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    Gamertag: BearsNR5 Steam ID: Redemption

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    Is this an independent retirement company or somehting?

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  3. #3
    The Fire Within
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    Default Re: How to retire rich as fuck

    Quote Originally Posted by WiLD View Post
    Is this an independent retirement company or somehting?
    no its just a retirement plan you can get through most companies. its gov regulated

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  4. #4
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    I just find it weird that the gov would regulate a tax free retirement.. considering these days their is tax on everything.

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  5. #5
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    Default Re: How to retire rich as fuck

    Quote Originally Posted by WiLD View Post
    I just find it weird that the gov would regulate a tax free retirement.. considering these days their is tax on everything.
    well theres a traditional IRA, your not taxed on the money you put in but taxed when you pull it out vs Roth IRA which your taxed when you put money in, but not when its taken out

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  6. #6
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    Default

    But essentially you are just putting money in, letting the amount grow and taking all of it out at once. For example you have 400k in savings for retirement, instead of the gov taking 20% of that and just leaving you with 320k, you get all 400k but you have to put interest on the initial deposits

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  7. #7
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    Roth IRA And that's with you putting 5K every year ?

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  8. #8
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    Default Re: How to retire rich as fuck

    pretty much you get taxed before or after. i suggest the first, since getting taxed after is usually a larger amount to get taxed on. you have a max your allowed to put in every year (atm its 5k). you get interest on your total deposit + interest earnings on previous years.

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  9. #9
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    Default

    So you put in less money but get more out pretty much?

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  10. #10
    I'ma Fuckin Scalie

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    Sell cocaine and cocaine accessories. Problem solved.

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