Snowballs, Warren Buffett, and Self-Directed IRAs

By Brendan Hughes0 Comments
 
The “Oracle of Omaha,” Warren Buffett, is often asked to provide financial wisdom based on his successful career. For people contemplating how to save for the future, to build wealth for retirement, a recent MarketWatch article suggests looking to Buffett’s snowball strategy.

Author Sally Brandon references an important ingredient to growing wealth – time. Money compounds with interest, and the more time you have the better the chance for that money to grow into a secure retirement. The article quotes Buffett, “Life is like a snowball. The important thing is finding wet snow and a really long hill.”

A couple of retirement tools – company sponsored 401(k)s and Traditional and Roth IRAs – are mentioned as vehicles to help grow retirement funds because in addition to the effects of compound interest, the accounts have tax-advantages.

Discover more by reading the full article, and remember that self-directed IRAs have tax benefits, while also allowing investments in a full range of assets beyond just stocks and bonds.

Ready to take action and start rolling your “snowball?” Schedule a free consultation with one of our Senior Account Executives.