The Easiest and Laziest Way to Become a Millionaire in Your Twenties

If you are in your twenties, here's the easiest and laziest way to become a millionaire. I'm Tyler, a former financial advisor and portfolio manager. Now I make financial content for free so you don't have to pay for it.

1. Open a Roth IRA

Open a Roth IRA through Fidelity, Schwab, or Vanguard. It'll take you only 10 minutes, it's free, and you never have to use it if you don't want to.

2. Fund the Account

Fund that account with $50 a week.

3. Automate Contributions

Now automate those contributions so you don't forget, and you don't change your mind based on market conditions.

4. Invest in a Low-Cost Fund

Invest that money in a fund that tracks the S&P 500, like Vanguard's VOO. You now officially own a piece of the world's biggest companies like Apple, Microsoft, and Nvidia.

5. Increase Your Contributions

Now here's the key to real growth: Increase your contributions each year by 5%. Remember, focus on your goal, because there will always be someone who's yelling at you from the television telling you it's a bad time to invest. Hint: it's never a bad time to invest.

6. Long-Term Benefits

Because you stayed focused and kept funding that account while increasing your contributions, by age 60, you'll never have to worry about money again, and all that money is 100% tax-free.

Conclusion

So just don't say I never showed you how it's done because that's exactly how it's done. If any of this is helpful, sign up for my free weekly newsletter by clicking the link in my bio. Each week, I'll send you over another money playbook that actually works.

Source