The Smartest and Easiest Way to Retire a MILLIONAIRE (Step-By-Step)

In this episode, I opened a retirement account live on camera, and by the end of this it you'll know more than 99% of your friends about investing. Ready to retire a millionaire? Let's dig in. (Please don't ignore this if you're young. I promise you'll thank us when you're nicely aged.) Shimon Willig's contact info: Shimon.Willig@mwminvest.com ✬ SPONSORS OF EPISODE 97 ✬ ► TWILLORY – Premium men's wear that works hard and looks even better. Use promo code CHAI20 at Twillory.com/KosherMoney for 20% off your first order. ► BITBEAN – Got big ideas but clunky systems holding you back? BitBean is the go-to team for custom software that actually works for your business. Whether you're in healthcare, finance, or retail, they’ve built powerful platforms that scale smart. 👉 Dive into real case studies and connect with their expert team here: https://bitbean.link/4edg53 ► MIAMI LAKES – Looking to relocate to Florida without sacrificing space or community? Discover Miami Lakes, a hidden gem with a warm Orthodox Jewish community. Call Berel Follman at 631-485-4482 or check it out on Zillow. Great homes. Great people. A bright future be"H! ► COLEL CHABAD – Our brothers and sisters in Israel need us more than ever. Every dollar makes a difference at https://colelchabad.org/koshermoney/ CHAPTERS: 00:00 Intro 01:15 Who Is Shimon Willig? 02:35 The Role of a Financial Advisor 12:19 How These Firms Make Money 14:58 Helping People Open an IRA 17:16 High-Quality Clothes from Twillory 18:17 BitBean: Industry Leader in Software Development 19:33 Getting Started with Opening an IRA 27:25 The Benefits of a Roth IRA 29:46 Which Account to Open... 33:45 Qualifying (Early) Withdrawals 34:31 The Costs of Opening a Roth IRA and How Companies Make Money 36:35 What You Need to Open a Roth IRA 36:50 Choosing IRA Beneficiaries 43:06 Conversations with Parents About $$$ 46:44 Owning a Home in Miami Lakes, Florida 48:12 Colel Chabad: Feeding Hundreds of Families 49:23 Providing Personal Information and Authenticating Your Account 52:57 Adding a Trusted Contact 53:56 Adding Beneficiaries and Dividing Assets 56:30 Adding Employment Information 57:20 The Importance of Paper Documents 58:15 Adding Trading Features 59:39 Reviewing Your Information 59:58 Reading and Agreeing to the Boring Stuff 1:03:11 Adding Funds to Your Account 1:04:54 Naming Your Accounts 1:06:21 Setting Up Your Transfer 1:07:44 Opening an Individual Brokerage Account 1:11:28 Choosing a Retirement Age 1:13:24 Tips on Investments and Assets 1:17:34 What Is an Expense Ratio? 1:19:26 Creating an Account for a Minor 1:23:54 Automating Your Accounts 1:26:12 VOO vs. SPY Expense Ratios 1:28:10 What Is a Cowboy Account? 1:30:45 The Importance of Life Insurance 1:31:21 Project120's Mission 1:35:09 Outro • GET LIFE INSURANCE! ⟶ Project 120's site: https://www.theproject120.com/ • GET A WILL! ⟶ https://youtu.be/bHdpPuvKGVM ✬ Support the show! Help us create more episodes like this: https://www.livinglchaim.com/donate 💬 Need financial clarity? Visit LivingSmarterJewish.org for free resources. 📲 Follow Kosher Money for bonus clips & behind the scenes: TikTok: https://www.tiktok.com/@koshermoneypod Instagram: https://www.instagram.com/koshermoneypod 📞 Call-In-To-Listen Hotline: USA: 605-477-2100 | UK: 0333-366-0154 | Israel: 079-579-5088 📤 WhatsApp feedback: 1-914-222-5513 ⚠️ Reminder: This episode or description is not financial advice. Always do your own research. #RetireRich #MillionaireMindset #FinancialIndependence #InvestSmart #RothIRA #TraditionalIRA #WealthPlanning #MoneyTips #PersonalFinance #SmartInvesting #BuildWealth #RetirementPlanning #KosherMoney #JewishFinance #LivingLchaim