gettyThe web site ProPublica recently reported that billionaire Peter Thiel has a Roth IRA with a value of more than $5 billion. He had his Roth IRA purchase some of the shares. Since PayPal is a successful company, the value of the shares grew and now are worth substantially more than Thiel’s Roth IRA paid for them. A widely-used strategy is to convert a traditional IRA to a Roth IRA. Future distributions from the Roth IRA are tax free to both you and your beneficiaries who inherit the Roth IRA.

Source: Forbes July 15, 2021 14:26 UTC