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For a Roth IRA, you contribute money youve already paid taxes on.
This money can grow over time, and you wont have to pay capital gains tax.
A 401(k) is a bit different.
Then, like a Roth IRA, these funds can grow over time without capital gains taxes.
One question relates to retirement savings.
He poses the question of what you should do if you suddenly come into a large amount of money.
Robbins explains diversification is spreading out your investments within only one asset class.
The security assets are the long-term investments that will help you build wealth in the long run.
This may be investing in mutual funds, bonds or life insurance.
The growth assets are where you take a bit of a swing and hope things work out.
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