Mon Apr 07 2025, by Tyler Gardner
3 Steps to Become the First Millionaire in Your Family
If you're in your 30s and you want to be the first millionaire in your family, you need to do the following three things right now. If any of this is helpful, tune into my new podcast, Your Money Guide on the Side, by clicking the link in my bio.
1. Open a Roth IRA
Start by opening a Roth IRA.
2. Fund Your Roth IRA
Next, fund that account with 10% of your annual income and automate that process. This ensures that you are consistently saving and investing for the future.
3. Invest in a Low-Cost Index Fund
Then, invest that money in a low-cost index fund like VOO or SPY. These funds provide broad market exposure with minimal fees.
4. Become a Multimillionaire
Follow these steps, and you’ll be poised to retire a multimillionaire.
If you find this information helpful, please like and follow, and I’ll keep sharing insights to help you get one step closer to your financial goals.
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