I knew the billionaires have access to legal loopholes to avoid taxes, but damn having a 5 Billion dollar tax-free war chest seems insane to me. I think the government is going to remove Roth options altogether if this trend of self-directed IRA's continues to be exploited by the ultra-wealthy.
Link to an article
https://www.propublica.org/article/lord-of-the-ro…;
Would like to hear your thoughts.
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Initial thought: Wow.
Second thought: Well played, Peter.
Third thought: Imagine if we had smarter people in Congress?
It's a "loophole" that anyone can exploit...all you need to do is create your own multibillion dollar company from nothing.
And these people think that eliminating Roths will enrich the poor at the expense of the wealthy lmao
Honestly it hurts to see someone living your dream
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Lmao. Are you dumb or actually believing what you are saying in earnest?
Although 140 million pails in comparison to 5B, I think Ted Weschler’s Roth is equally as impressive since he did it through public equities.
Mitt Romney IRA
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