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Markets · Investing · Business
Finance
4 Secrets of IRA Millionaires
A handful of investors have grown their individual retirement accounts, or IRAs, to seven-figure stashes.
Given this year's annual contribution limit of only $7,500 (or somewhat higher for people aged 50 or more), and the fact that it was much lower when first introduced in 1975, it's difficult to believe any individual retirement accounts (IRAs) could be worth more than a million dollars today.
Not many of them are, to be clear. However, a small handful of these accounts have indeed eclipsed a seven-figure value.
Details
This begs the question... what did these investors do that most people don't? Being able to tuck away more money in these accounts certainly helps. However, they also did four things that anyone else can and should do when saving for retirement.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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