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[quote=Anonymous][quote=Anonymous][quote=Anonymous]+1 I think the winner’s hat goes to Peter Thiel with a Roth worth over $5B. All tax free. He’s now a kiwi citizen. Per the Pro Republica income tax leaks, he started by contributing legitimately the minimum ($2000) to a Roth back in the 90s when he was working for PayPal as a founder. However the rub is that he bought PayPal founders shares with that contribution and these shares were significantly undervalued at something like $0.0001. These founders shares were not available to the public.  So he was able to buy ten of thousands of PayPal shares for just $2000. He did the same thing the following year and then stopped contributing to his Roth.The rest is history. PayPal grew significantly and eventually was bought by eBay for billions. Thiel then took the tax-free earnings and made a $500K angel investment into FaceBook in its early days before it went public. All done within his Roth IRA. Then FB went public and the rest is history

Ted Weschler, one of Warren Buffett’s deputies , has a Roth worth over $264M (in 2021). This was made public via the pro republics tax return leaks as well. He did it legitimately using his brain and all publicly available investments that anyone could have invested in. He converted his regular IRA to a Roth and paid over $32M in taxes. And the Roth just continued to grow.

Bottom line, the Roth IRA is a powerful retirement vehicle if you invest wisely inside the vehicle. Uncle Sam can’t touch the earnings or tax the withdrawals.[/quote]

Yes and if there was any sense of justice or logic, Congress would have capped the untaxed portion at say $15 million. The machinations of those like Thiel and Weschler are good examples of how the ultra-rich use the vagaries of the tax system to make billions, without contributing to the public systems that helped make their investments safe and possible. It's obscene.[/quote]

Educate yourself please on how Roth IRAs work. They didn’t use any vagaries of the tax system to make billions. It’s quite simple, you make after tax contributions to a Roth, and then the investments inside the Roth grow tax free and are tax free upon withdrawals when reaching the age of 59 1/2. There are income limits to contributions (not conversions). And I’m sure these two gentlemen have contributed more to the public system in the taxes they have paid than you could ever dream of. The top 10% of earners pay most of the taxes. Isn’t that progressive enough for you? T[/quote]

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