Ed Slott

speaker

299 appearances 3 recordings 1 series first heard Jan 2018 last heard Apr 2022

Ed Slott’s voice in public audio — every appearance, attributed to the second.

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It blew up to billions.

But nothing wrong with that.

It's just he happened to have a lottery ticket type of investment.

He bought stock that was selling for one-tenth of one cent per share

And he bought 1.7 million shares for the $1,700 out of the $2,000.

The only money he ever contributed to his Roth IRA was $2,000, which was the limit in 1999.

That's it.

He didn't do all these mega things we're talking about.

And he just invested $1,700 of that.

And it grew into billions.

And it was totally legal.

Can everybody do that?

Yeah.

That's like saying, can everybody win the lottery?

Yeah.

Well, you have to know what you're doing.

You could do that with a Roth, without a Roth.

The brilliant thing he did is he was advised to do it in the Roth, knowing all the upside would be tax-free forever.

But he still has to wait.

He's not out of the woods yet on two fronts.

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