Starting a Roth IRA in your 20s is probably one of the most critical financial recommendations I can give most young entrepreneurs and self-employed individuals. Of course, I never offer legal or financial advice, and everyone’s situation is different, so a Traditional IRA might also make more sense. But generally speaking, because of the Roths tax-free earnings and your ability to withdraw your contributions without facing penalties, the Roth IRA is looking incredibly attractive.
This video helps to explain how you can grow more money in your Roth IRA the sooner you start it. And if you are focused on retirement planning in your 30s, you will most likely wish you started investing earlier. Most people in their 40s or 50s also feel the same way. Because of compound interest and the ongoing annual contributions, you could grow your money to a pretty substantial amount.
Consider using M1 Finance here to start your Roth IRA and get free cash.
