4. An IRA—Every American's Treasure Trove

If you have earned any money working this year, you can open an IRA or a Roth IRA. And you should.

If you haven't worked for pay but have a spouse who has, you can still open an IRA or a Roth IRA. And you should.

In fact, even if you are in elementary school and mow lawns, wash cars, baby-sit, or do anything else for money, you can open an IRA or a Roth IRA. And if you do, you will be setting yourself up to become a millionaire.

That's because IRAs, and in particular Roth IRAs, are powerful money-making machines. And the earlier in life you start one of these miraculous individual retirement accounts, the wealthier you will be.

Nothing makes the point more clearly than an illustration often used in seminars ...

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