Increase Your IRA Returns

Increase Your IRA Returns

Christopher Brathmill

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  • EAN: 9788832529135
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Note: this is a subset (one of the ten lessons) of the book, “Save a Million Dollars and Retire Early”; this subset is offered to readers as an option to break the overall book into smaller sections; the reader is encouraged to use the overall book for a more comprehensive approach

Increase Your IRA Returns

Purpose

The purpose of this lesson is to use examples and math to inspire you to invest early.

Introduction

If you invest in an IRA each year, you should think strategically about when you actually move your money to the IRA account. In general, the earliest you can contribute is January 1 of the contribution year and the latest is April 15 (tax day) of the following year. That gives you a spectrum of approximately 470 days. Invest on day 1 instead of day 470 and you get 469 extra days of compounded growth. Do that every year and it adds to significant overall investment return.
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