No. of Recommendations: 2
The original question this answered wasn't how easy it would be to have a multimillion dollar IRA but whether it was possible.

That is true but your response was "I can see it easily being done".


Here is how it is easily done, and I'm sure how Romney did it. And I'm looking at doing it myself, paperwork pending.

Long story short, Angel/Seed Investing. Have been reading about a privately held medical company over the past month. What it is doing is game changing. Talked to my brokerage firm, yes I can buy into it, just need some paperwork showing I meet certain criteria (net worth outside of home and/or minimal income: >$1M or $200k/year). Buy company stock.

With this particular company, if I would have gotten in on the ground floor, the initial funding,it was roughly valued at $0.15/share. This is now round three of funding, roughly $15/share. So a 100x increase. Company goes public, could be another 10x. So you put the minimum $20k in at $0.15 and a 1000x later you have $20M.

JLC, who wished he knew about this a few years ago.
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