Investing: How My Client Made $5,159,930
My name's Robert Bonavito, New Jersey forensic accountant. This video is part of a series of videos where I discuss forensic accounting topics for educational purposes only.
Today I'm going to talk about how my client made $5,159,930. You can see I broke it down into the exact amount because I want to get across to you that this can be done if you start early and invest wisely.
What this client did was, and he didn't have a lot money, from age 19 to age 30, he invested $5,000 a year in low-cost, tax-efficient funds. And he stopped at age 30, never put another penny, it was a Roth IRA, he never put another penny in it.
And when he retired, he had over $5 million in his account. And you can check, do the math, and you'll see that I'm correct. And if you want to...if you have a young person that you know or you want to help them, instead of giving 'em a present, just tell 'em, "Hey, I want you to start saving as much as you can for 11 years, and then you can stop."
Because maybe they can't afford the $5,000, but even if they do $2,000 or $3,000, so maybe he'll only have $2 million, $3 million when he retires. This can be done, and the keys are simply invest early, invest in low-cost funds in tax-advantage vehicle. And just let it sit there and this will happen to you, too. If you have any questions on this video, feel free to give me an email.Return to Video Gallery