Mon Apr 15 2024, by Tyler Gardner
Tyler? Yep. Looks like you're retiring with 500 million dollars in your IRA? That can't be right.
Oh, it's right. We've only allowed you to contribute 6,000 dollars a year.
Yeah, but it's a Roth IRA. Capital gains are tax-free, right?
Yeah. Because I knew capital gains would eventually be tax-free, and I'm a highly risk-tolerant investor, I just put all 6,000 each year into super risky stocks.
Did you ever lose that money?
Oh, yeah. I lost 9 out of 10 times. But because I started using this strategy when I was 22, I had a very long time horizon and a lot of freedom to fail. And eventually some of those stocks hit big. Really big.
So we get nothing.
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