Should I open a Roth IRA?

[mltn2mtn]

I’m 17 I could realistically max it out for the next 10-20 years, I just don’t know if this would be a smart investment considering inflation (10% returns a year w Ira). What would u guys do?

 

[Deleted member 121340]

I don't see why you shouldn't.

 

[liberiangrimreaper]

You know the answer DORK

You just want us to see you as some type of financially aware genius that wants better in life, fuck you man

 

[mltn2mtn]

I don't see why you shouldn't.

because I feel like returns aren’t that great when you adjust them to there possible purchasing power in the future.

 

[mltn2mtn]

You know the answer DORK

You just want us to see you as some type of financially aware genius that wants better in life, fuck you man

dude I work a part time job just turned 17, I only make like 25k a year

 

[Henry Kissinger]

Yes, open a Roth IRA. An IRA btw is an account type it doesn't return anything on its own. The return depends entirely on what you hold inside of it. Also, the 10% figure is just a long run nominal average of the S&P 500 and it's averaged across decades with high variance. You should invest because of inflation as if you left it in a savings account it's a guaranteed loss lol 10% nominal return is like a 6-7% real return.