First Milli

If you could only do one thing for your retirement, let it be maxing out your Roth IRA (if applicable) on an annual basis. If you can find a way to invest $500 monthly or $250 per paycheck (if you get paid bi monthly), investing in low expense ratio index funds returning a 7-10% will render you a millionaire based on these estimations. Investing in Roth IRAs are one of the most tax efficient accounts in your wealth arsenal. You can even dip into it for other purposes such as education, healthcare or even buying your first home.

Ooh and let's say you can only invest $500 ($41 monthly) for the whole year, it's better to fund that Roth IRA to be eligible for the 5 year rule. The 5 year rule will allow you to withdraw earnings tax-free for purposes such as buying your first home.

Single filers and joint filers with a lower annual MAGI annual income of $140,000 and $208,000 respectively are eligible.

💜 Are you maxing out your Roth IRA? If not, why?



https://time.com/nextadvisor/investing/why-you-should-get-a-roth-ira/

https://firstmilli.com/quiz-ready-to-begin-negotiating-your-next-job-offer/

There are two priorities the world has today, it's climate change and inequality. The COVID-19 Pandemic has further increased the wealth gap across all spectrums. 2020 has created more billionaires and vastly increased the net worth of billionaires as our WFH restrictions consolidated supply and demand chains.
Here are ways we've identified that we can each act on an individual level to help close the wealth gap.
💜 What are other ways you recommend we can do to help further reduce the massive wealth gap?
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💪Ready to level up your pay? Take our quiz to see what you need to start negotiating. Link in bio.