DISCLAIMER: I”m a Certified Educator in Personal Finance (CEPF®), but am I not your financial advisor, so do your own research! This article, the topics discussed, and ideas presented are Bob”s opinions and presented for entertainment purposes only. The information presented should not be construed as financial advice. Always do your own due diligence.
With all that out of the way, if you want to know how I would tell my younger self to open a Roth IRA, this is it.
Young Bob:
“How do I open a Roth IRA?
Everyone says it is amazing, but I have no idea where to start?”
2022 Bob:
“Well, young Bob, I am going to tell you what you should do knowing that you want to invest for the long-term and knowing that you are comfortable with the typical ups and downs of the market.
Just go to Sofi and open an Active Investing account. You can follow the steps in the video below to open it up.
There are thousands of places you can open one, but this is my favorite for beginners.“
“Ok young Bob, so now that the Roth IRA is open, you have to actually invest the money into something. Because the ROTH is simply an account, NOT an investment itself.
So you could invest in index funds, stocks, bonds, CDs, or just about anything else using the funds in your Roth IRA.
If you want help deciding on what to actually invest in young Bob, it is going to take more than just a simple article like this.
I recommend going through my/your 10x Investing Course.
It is full of the lessons you are soon to learn from a millionaire mentor you are about to meet in 2005 that yielded you some pretty significant returns (as much as 3400% on a couple of them).
If you don’t take the course it will take you 16 years to learn all the stuff. But if you do, you can shave off 16 years of your learning curve.
Oh and word to the wise, enjoy your hair while you have it!”
