Want to Be an IRA Millionaire? 2 Tips All Retirees Should Know
Accumulating $1 million in an individual retirement account (IRA) might seem unlikely, given the annual contribution limits. The limit has just increased to $7,000 for those under 50, up from $6,500 in 2023. However, according to Fidelity's analysis of IRA balances at the end of 2023, over 400,000 account owners have achieved this milestone.
These IRA millionaires didn't reach the million-dollar mark by luck. Certain strategies and habits set them apart. If you aim to follow in their footsteps, here are two key things to note.
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Source Fool.com
