 You need a Roth IRA and I'm going to tell you exactly why you want some of this tax-free money getting multiplied in your account in just a minute. Let's go over exactly how to get started, what providers to use and why the Roth IRA is the most powerful thing you can use to retire a millionaire. Man, I just I feel like I'm not earning enough money and I can never get ahead and nothing's helping me move forward man. It's okay. Get a Roth IRA. Roth IRAs are the most powerful instrument to create wealth if you are not earning over 6 figures a year and if you are relatively young in your 20s. So if that's you and the YouTube demographics kind of show me that most of you are kind of in that boat then you're going to want to listen to this entire video and understand exactly what this is, how to get started, what the risks are and why you need this. First off, Roth IRA it's pretty simple. It's tax-free money multiplied. And let me show you exactly what that means. So first let's start off with a basic definition of IRA. What is an IRA? IRA stands for Individual Retirement Account. This is your retirement account. When you're old, when you pass the age of 65, it's known as a 401k. Or if an employer sponsors it's it's called a 401k. Now a Roth IRA has limits. You can only contribute $5,500 per year max. Again, folks, this is made for people who are not making a lot of money. It is a gimme by the government to allow folks that are not earning a significant amount of money to make lots of money. That's why it's capped out at such a small rate. With Roth's, you can only contribute post-tax money. Meaning this is income that you've already been taxed on. When your employer takes taxes out of your paycheck, you can put it in a Roth IRA. But another thing you need to know is there's no penalty to take money out of your Roth IRA. Of the money you contributed, you can take any of it out that you want. So it's still yours to keep. There's not a problem there. But the benefit is it will grow and grow and grow and you won't be taxed on any of the earnings. Typical earnings are taxed at something like 30 or 40%. You can be taxed a lot for money you earn from retirement accounts, investment accounts, cryptocurrency accounts. All of that. But none of that will be affected with a Roth IRA. And the other thing you need to know is it must you must have income. If you don't have a job, then you can't contribute to a Roth IRA. Assuming you're still with me, let's go a little bit further. Now here's how to start. So first off, you only really want a Roth IRA if you're in a low tax bracket. If you're earning 6 figures or 7 figures or more, it doesn't matter that much, okay? Now if you're under 18 years old, you can still get a Roth IRA. In fact, I advise it. Your parents need to co-sign for you because you're not considered an adult yet. If you're 18 or over, you can sign up for a Roth IRA yourself. But where? Where? Where do you sign up for that Roth IRA? Well, there's a couple good companies that I mean there's plenty of companies that offer a Roth IRA. But probably the companies with the lowest fees and the best value and the best reputations are Fidelity, Charles Schwab and Vanguard. My Roth is with TD Ameritrade. So I work with my wealth advisors or my wealth managers for everything I do. I have millions of dollars of investments at this point and I don't know. They handle that stuff for me. But if you're like most folks, you're probably in the same position that you're probably not saving because you don't feel you earn enough money and you don't earn enough money. Probably because I mean you can't take chances. You haven't saved enough to take those chances at building a big business, right? Well, first off, I would suggest you check out my free traffic method videos about how I made my money and how I make roughly $500,000 per month in my business and have been featured on every news station all over the internet and building software with a lot of people now in my business which is pretty exciting because of my affiliate marketing business. So check out those videos and links around here if you want to see it out or link in the description. But if you're looking to just save money, first off, you have to really be disciplined. Most folks don't save money because when you're 18 or 20 or 25, you're just kind of like, you know, you just don't want to save money, right? It's not you're not disciplined enough. You're not principled enough about finances. But here, let me give you an idea of how you can retire a millionaire even with a minimum wage job if you're just disciplined. Now, if you are saving up $1,000 a year out of your paycheck from the age of 18, that means over the course of time, you will be you will have contributed $43,000 to your Roth IRA. And you will make $220,000 of profit by the time you reach the age of 60. Pretty cool. This is the power of compounding interest. Now, if you just contributed $2,000 a year from the age of 18, you would have grown your portfolio to over $440,000 a year by the age of 60. Pretty cool. Just $2,000 a year can add up to quite a bit of money. Now, let's take this a step further. Let's say you contributed the max $5,500 a year. You get really frugal, you really work at saving, you don't you don't go too crazy with your money and you don't live beyond your means. You always save up 20% of your paycheck. Now, what that will mean is that by the age of 60, you will have 1.2 million dollars in profit. You will have a nice fat retirement account with 1.4 something million dollars in it. Saving money is the most important thing you can do to allow yourself those options to do what you want. Most folks are stuck in their day-to-day job, in their lifestyle, in their relationship, in their house, in their area because they never gave themselves the opportunity and the freedom of having a savings account with money in it so that they could have those stress-free options of doing what they want. Now, in my business, my business has shifted from year to year. Exactly what products I've been selling and earning commissions from exactly what business I've been in whether it's training or software or books or what not has shifted over time. I've allowed myself the ability to shift my business because I've always kept much of my profits in savings. I've never had to reach that point of desperation of utter fear because I didn't have any money to fall back on. When I was young and I was earning $50,000 a month back in my early 20s, I would save up much of that money. I lived below my means and I was traveling the world, folks. I was you know, I was still having lots of fun and parties. 50,000 a year to a 23-year-old is a lot of money but I saved a lot of that so that I could do whatever I wanted. And if my business failed one month, I didn't get desperate because I knew I had months or years that I could live off of my savings. You don't afford yourself the stress-free life. You don't afford yourself the opportunities to start your own business to pick up and move to a different state if you don't save up money. You are trapping yourself in short-term thinking land if you never save up money. And money to me is an instrument to allow me to think longer and longer term. The more money I save up, the longer term I can think. So I can focus on making much bigger money. Tens, hundreds of millions of dollars, billions of dollars that I wouldn't be able to otherwise. My goal right now is to start a space company but I would never even get to that point if I didn't have a solid business and a lot of money and savings to rest back on. So I implore you, I encourage you, like this video and subscribe to this channel if you're looking to learn more about money. Not just how to save it but most of my videos are how to make it and make an abundance of it like many of my students have. I've released trainings to... I think we have... I have over 40, 45,000 folks who have bought my trainings at this point in time and we have many millionaires. We have many people who have just made absolute huge changes to their life and I hope to count you amongst them and be able to influence your life in some sort of financial way. Thank you so much for watching and talk to you soon. Bye.