Row 89254

Row ID: 89254 | Dataset Entry | Axioma AXP Content Repository

Content Data

This page contains data entry 89254 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

If you have income from work, you can open a Roth IRA. This is probably best way to get started. You can put $7,000 into it per year. Once the money is in the account, you can invest it into whatever stocks/index funds/etc that you want. It will grow tax free, and you will not have to pay any taxes on the growth when you want start making withdrawals in retirement.

Any major brokerage should be fine. Vanguard, Fidelity, Charles Schwab, etc.

Put some money, and make contributions monthly.

If you can contribute 7k annually (the reality is that this contribution limit typically goes up every couple years) over the next 40 years, assuming a pretty safe average return of 7%, that account will be worth 1.5 million, and like 80% of that money will be gains, compared to only 280k of it being your own hard earned contributions.

It's great you're interested in this at a young age. Starting very early is a huge advantage for wealth accumulation.

I recommend binge watching The Money Guy Show. They address this concept a lot.

https://www.youtube.com/watch?v=nVl5i4heLi8

FieldValue
text If you have income from work, you can open a Roth IRA. This is probably best way to get started. You can put $7,000 into it per year. Once the money is in the account, you can invest it into whatever stocks/index funds/etc that you want. It will grow tax free, and you will not have to pay any taxes on the growth when you want start making withdrawals in retirement. Any major brokerage should be fine. Vanguard, Fidelity, Charles Schwab, etc. Put some money, and make contributions monthly. …
label r/investing
dataType comment
communityName r/investing
datetime 2024-05-25
username_encoded Z0FBQUFBQm5Lak1yQ1pkZkxTNm5scGctUUZUdEplWW9XVktEMHFjU2lydHBmdTk0MWdsQ2dDV3lUVG05MDFHTjZEcldWcV9sTUM4bF9VUDhYNE9WcUVJeFI4cV96RE1scUE9PQ==
url_encoded Z0FBQUFBQm5Lak84ak5EaF9kTzgxLWo0UnEwS3hDcGctNUNUWTUwXzJsblNQZDFyZnlPUlVxVG9ZVzZ3TXVCbXVIYW9kamtyZW1xWmFacmNlVFV2STFrZmRKci01Z0NSdjhsWWhhM2ZlSTQtdWVBS3dzeVVadmVyb1BQdVZ5NGdvdDdfY2RWNlVnNGozdVgwc1hKWjdhbEtPelZBaE1sZ2gwZWFsOG1WRnc0Z1k2TGw4R2VxaWNub0FaeVlIRkwxNkxqaUVsTzFZX0NV

Raw Record

{
  "text": "If you have income from work, you can open a Roth IRA.  This is probably best way to get started.  You can put $7,000 into it per year.  Once the money is in the account, you can invest it into whatever stocks/index funds/etc that you want.  It will grow tax free, and you will not have to pay any taxes on the growth when you want start making withdrawals in retirement.\n\nAny major brokerage should be fine.  Vanguard, Fidelity, Charles Schwab, etc.\n\nPut some money, and make contributions monthly.\n\nIf you can contribute 7k annually (the reality is that this contribution limit typically goes up every couple years) over the next 40 years, assuming a pretty safe average return of 7%, that account will be worth 1.5 million, and like 80% of that money will be gains, compared to only 280k of it being your own hard earned contributions.\n\nIt's great you're interested in this at a young age.  Starting very early is a huge advantage for wealth accumulation.\n\nI recommend binge watching The Money Guy Show.  They address this concept a lot.\n\nhttps://www.youtube.com/watch?v=nVl5i4heLi8",
  "label": "r/investing",
  "dataType": "comment",
  "communityName": "r/investing",
  "datetime": "2024-05-25",
  "username_encoded": "Z0FBQUFBQm5Lak1yQ1pkZkxTNm5scGctUUZUdEplWW9XVktEMHFjU2lydHBmdTk0MWdsQ2dDV3lUVG05MDFHTjZEcldWcV9sTUM4bF9VUDhYNE9WcUVJeFI4cV96RE1scUE9PQ==",
  "url_encoded": "Z0FBQUFBQm5Lak84ak5EaF9kTzgxLWo0UnEwS3hDcGctNUNUWTUwXzJsblNQZDFyZnlPUlVxVG9ZVzZ3TXVCbXVIYW9kamtyZW1xWmFacmNlVFV2STFrZmRKci01Z0NSdjhsWWhhM2ZlSTQtdWVBS3dzeVVadmVyb1BQdVZ5NGdvdDdfY2RWNlVnNGozdVgwc1hKWjdhbEtPelZBaE1sZ2gwZWFsOG1WRnc0Z1k2TGw4R2VxaWNub0FaeVlIRkwxNkxqaUVsTzFZX0NV"
}
Explore Dataset Explore Row

Entry Information