It's possible with a Roth IRA or Roth 401(k) account!
In this compact explanation updated for the Proposed IRS Regulations for the SECURE Act and for SECURE 2.0 Act (enacted December 29, 2022, ) Michael Gray, CPA gives the highlights of what you need to know to build a big, tax-deferred or tax-free retirement account and get the maximum benefits from it.
* How do the advantages and disadvantages of a Roth account compare to those of an IRA account?
* How can you use a rollover from a 401(k) or other employee retirement account to create a big Roth or IRA account?
* Many people have become disenchanted with the stock market. How can you use a self-directed Roth or IRA account to make alternative investments, such as in real estate or private mortgages?
* What are the prohibited transactions that can result in disqualification (treated as instant distribution) of your Roth or IRA account?
* When can a Roth or IRA be required to pay income taxes? Should you go ahead with an investment that generates income taxes for the Roth or IRA anyway?
And much more!