YOLOing My Roth IRA
A few months ago it came out that Peter Thiel turned his initial $2000 investment in a Roth IRA into $5bn (tax free) by yoloing 1.7mm shares of Paypal back in 1999. As an analyst in banking who will surpass the $140k earnings threshold for Roth IRA contributions this year, I think this is potentially a really great strategy. I currently have 6k just sitting in QQQ, but I would much rather be a disgustingly rich 59.5 year old with the potential to lose it all, than a mediocre retiree.
My current thought is to pick 3-5 penny stock names and go all in. That way its a bit more diversification, but still highly concentrated. My question for all of you is: what names look good??? Anyone else want to try this with me???
Potential Picks: IDEX, NAKD, INND