How to Open a Roth IRA: A 60-Second Playbook to Turn $210,000 into Over a Million

Everyone yells at you to open a Roth IRA, but nobody tells you how. I'm Tyler, a former financial advisor and portfolio manager. I make financial content for free, so you don't have to pay for it.

1. Open the Account

Go to Fidelity, Schwab, or Vanguard. Click on Open Account and choose Roth IRA. It’s zero cost and takes about five minutes. If you can order DoorDash, you can do this!

2. Link Your Bank Account

Again, it takes five minutes. Now automate weekly or monthly transfers. Even putting away $50 a week—less than one bad bar tab—grows quickly!

3. Invest Your Contributions

Here’s where most people screw up: once the money hits your Roth, it just sits in cash. You must invest it! My move? Vanguard's VOO. Now you own 500 of the biggest, most profitable companies on Earth, and they’re working for you daily.

4. Projected Growth

Start at 30, max it out every year. By 60, you’ll have put in $210,000, but you’ll have about $1.2 million. That’s a million bucks that seems to have appeared out of thin air, because it kind of did!

5. Access to Contributions

Oh, and the contributions? You can pull them back anytime, penalty and tax-free. You have a built-in emergency fund to parachute from!

Conclusion

So stop scrolling, open the account today, and make future you a millionaire for one-fifth the price. If any of this is helpful, sign up for my free weekly newsletter by clicking the link in my bio, and each week, I’ll send you another money playbook that actually works.

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