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One of their favorite vehicles?
Even if you cant contribute the maximum, starting early gives your money more time to grow.
According to Bennett, you might automate your contributions to ensure youre consistently funding your Roth IRA.
They Use the Backdoor Strategy
Income limits dont stop the wealthy from accessing Roth benefits.
This involves contributing non-deductible money into a traditional IRA and then converting these funds into the Roth.
They Invest In Alternative Assets
The 1% often think beyond traditional investments.
They Time Their Conversions Strategically
Smart timing can lead to significant tax savings.
Ideally, you would want to invest in a Roth IRA when you are in a lower tax bracket.
The average cost of long-term healthcare in America ranges from $35,000 to $108,000 a year.
As DeLuca said, The average person can do exactly what the 1% does.
Its about investing and staying disciplined.
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