Want to Be an IRA Millionaire? 2 Tips All Retirees Should Know

Accumulating $1 million in an individual retirement account (IRA) might seem unlikely, given the annual contribution limits. The limit has just increased to $7,000 for those under 50, up from $6,500 in 2023. However, according to Fidelity's analysis of IRA balances at the end of 2023, over 400,000 account owners have achieved this milestone.These IRA millionaires didn't reach the million-dollar mark by luck. Certain strategies and habits set them apart. If you aim to follow in their footsteps, here are two key things to note.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel