Peter Thiel, a co-founder of PayPal Holdings Inc.
has grown his Roth individual retirement account to $5 billion, even though he has not contributed to it since 1999, according to ProPublica.
Considering that IRAs are tax-advantaged accounts meant to encourage people to save money for retirement and have limits on who can contribute and how much they can contribute, that eye-popping number points to possible legislation to reform Roth IRA rules. Then again, it’s good for anyone concerned about funding a comfortable retirement to learn about IRAs work.
Alessandra Malito explains how Thiel built his nest egg and how Roth IRAs work.
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