The Daily Money: Becoming a millionaire with only an IRA?

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In today's Daily Money, we have insights on SPACs, IRAs, ETF investments and Disneyland. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
ALL THE MONEY NEWS YOU NEED TO KNOW
 
Friday, April 30

Good morning, Daily Money crew, it's Nathan celebrating the onset of the weekend!

You know what they say. A dream is a wish your heart makes. ... Disneyland reopens today. (And, yes, I'm not ashamed to say I knew that lyric by heart.)

On to our ... 

💡 INSIGHT OF THE DAY: Due to contribution limits, it's tough to become a millionaire by only investing in an IRA. If you contributed the maximum $6,000 annually and earned 7% on average, it would take you 37 years to reach $1 million. Bottom line: An IRA is good to have, but a 401(k) will help you get there faster if your employer offers one.

📰 Here are our top stories:

1. Shaq, Ciara and A-Rod have one. But are SPACs, the latest investment craze, right for you? 

2. During his speech to Congress, President Biden cited a study claiming that dozens of American companies are paying no income taxes. The top 10 includes companies like Charter Communications, Nike and Salesforce.

3. What if the best investment strategy for you is to buy and hold ... for decades?

4. This just in this morning: Roku is pulling the plug on YouTube TV as its dispute with Google continues. Will they patch things up?

5. Ever seen the "It's Gonna Be May" meme featuring Justin Timberlake? Get ready to. Here's how it happened.

I, for one, am floored that it's almost May. We're already four months removed from 2020. Does it feel like it to you?

--@NathanBomey
Senior couple sitting on boat looking out at the horizon
How to become a millionaire with an IRA
The biggest challenge to becoming a millionaire with an IRA is its low contribution limits compared to 401(k)s.
Shaq, other celebrities are faces for SPAC investment...
Shaq, Ciara and A-Rod have one. But are SPACs, the
3 growth ETFs to hold for decades
Three jars with coins and a plant growing inside
Did 55 big U.S. firms not pay federal taxes?
President Joe Biden is pictured addressing a joint
Roku removes YouTube TV from its channel store
Stream favorites right from the couch with the Rok
Amazon revenue tops $108B, announces Prime Day sale
Amazon saw its short interest jump by the most rec
Unemployment benefits disrupted in 22 states
A line of people standing in front of a building l
Will there be a fourth stimulus check?
A white cardboard house sits on top of a stimulus
This famous brewery has a new location on a Las Vegas...
BrewDog has signed a lease for a rooftop brewery a
Economy grew 6.4% in Q1 as checks, vaccine juiced...
While a lack of stimulus did not weigh on retail s
 
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