Special Needs Financial Planning: Securing a Bright Future for Your Loved Ones
This blog post aims to provide you with comprehensive and up-to-date information on the key aspects of special needs financial planning, equipping you with the knowledge to make informed decisions for the well-being and prosperity of your family.
Turning 240K into 5M
I sat down with my son, Alex, today and told him I set up a self-directed Roth IRA for him. As you can imagine, this was super exciting news for a 19-year-old! What youngster isn’t eager to hear about the money they won’t be able to touch until they are nearly 60 years old BUT, I got his attention when I showed him the graph below. By contributing only $6,000/year (max allowed contribution), a total of $240,000 between now and his retirement age, he can easily have over $5 MILLION by the time he…