Tue Apr 09 2024, by Tyler Gardner

Wealth BuildingFinancial EducationInvesting BasicsRoth IRALong-Term Investment

The Truth Nobody Teaches You About Becoming Rich

Here’s what nobody will teach you in school about becoming rich:

1. It's Not Sexy

It won't happen overnight. Anyone who tells you otherwise is trying to sell you a dream and take your money.

2. It Is Simple

Open a Roth IRA right now. Automate monthly contributions of $50 to $100 to that IRA. Invest in low-cost index funds and don't look at it for 30 years. You'll be all set.

3. It's Not Easy

You can't live the way that you're living right now. Future consumption requires that you sacrifice current consumption. That's the formula. That’s it.

If you want to spend it now, that’s great. Just don’t wake up in 10 years and wonder why it’s not there.

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