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- A Roth IRA can be a great partner on your financial journey if you're seeking to build a million-dollar portfolio. You can contribute up to $6,000 to a Roth IRA if you're under 50 in 2022. If you make the most of your annual contributions, you can turn $6,000 into $1 million before you retire1. Roth IRA grants you access to contribute after-tax dollars that will grow 100% tax-free2. Nearly 3,000 taxpayers held Roth IRAs worth at least $5 million as of 20193. If you start your Roth IRA journey in 2022, you can make consistent contributions and max out your account every year to get you to the million-dollar mark4. If you put $100 each month into a Roth IRA, you could have one million dollars by retirement5.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A Roth IRA can be a great partner on your financial journey if you're seeking to build a million-dollar portfolio. For 2022, you can contribute up to $6,000 to a Roth IRA if you're under 50. If you make the most of your annual contributions, you can turn $6,000 into $1 million before you retire.www.fool.com/investing/2022/03/08/this-strategy-c…It's one of the hottest retirement accounts on the planet -- granting you access to contribute after-tax dollars that will grow 100% tax-free. Simply put, if your child's Roth IRA reaches a million dollars, the entire one million dollars is theirs to keep once they reach 59 1/2 -- there's no need to share earnings with the IRS.www.fool.com/investing/2021/01/09/a-roth-ira-can-h…The new figures show that, as of 2019, nearly 3,000 taxpayers held Roth IRAs worth at least $5 million. (The total of more than 28,000 people holding IRAs of that size includes both traditional and Roth IRAs.) The aggregate value of those Roth IRAs was more than $40 billion.www.propublica.org/article/the-number-of-people-w…If you start your Roth IRA journey in 2022, you can make consistent contributions and max out your account every year to get you to the million-dollar mark. For instance, let's calculate how long it would take to reach $1 million using these assumptions: Age: 21 Annual contribution: $6,000 Investment rate of return: 8%www.fool.com/investing/2022/01/06/how-to-build-a …“You invest money and your money makes money, and the money you made with the money that you had makes money, and everything compounds,” she said. Orman explained that if you, as a 25-year-old, put $100 each month into a Roth IRA, you could have one million dollars by retirement.www.cnbc.com/2017/07/20/suze-orman-reveals-ho…
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