If you are 40 or even 50 years old and haven’t started to invest in your IRA, don’t despair. This simple method will grow your IRA to over 1 Million Dollars before you are 70 1/2 years old. It will then continue to grow risk free and earn over $200,000 a year. If you are 30 this Method could grow your IRA to over 20 Million by the time you are 65.

The Contributions Limits for an IRA or Roth IRA are $4,000 in 2006 and 2007 and then increase to $5,000 in 2008. If you are over 50 your contribution limit will $5,000 in 2006 and 2007 and $6,000 in 2008. The Limit will continue to increase based on inflation in years 2009 and beyond. Your IRA contribution maybe lower then these limits depending on your earned income and participation in a company sponsored retirement plan. Married couples maybe able to double their annual contribution.

There is a web site called prosper.com that is designed for people to people lending. Using this web site it is possible to earn up to 29% return on your money by lending money to people that are slightly down on their luck. Normally I would agree with you that lending money to high risk people is shaky at best. The Beauty of prosper is that you don’t have to lend more then $50 to any 1 person. So even if 1 or 2 Loans go bad you’re other loans are still good. So by making 80 to 100 Loans a year you spread your risk and maximize your income.

A real nice feature of Prosper is that it encourages People to people lending and allows you to help people in need of your Loans. If you are a more conservative person you can choose to lend money at lower rates of return to people who are less risky and still achieve tremendous growth. You can also diversify your loan Portfolio and help people across multiple risk levels to achieve higher returns.

So a 50 Year old person who is starting from zero can invest $5,000 in 2006 and 2007 then $6,000 thereafter and by achieving a rate of return of 22% a year can have it grow to 1 Million Dollars in less then 19 Years.

A 40 Year old person can invest $4,000 in 2006 and 2007 and $5,000 thereafter and by achieving a rate of return of 22% a year can have it grow to 5 Million Dollars in less then 25 years.

A 30 Year old person can invest $4,000 in 2006 and 2007 and $5,000 thereafter and by achieving a rate of return of 22% a year can have it grow to 25 Million Dollars in less then 35 years.

A 20 Year old person can invest $4,000 in 2006 and 2007 and $5,000 thereafter and by achieving a rate of return of 22% a year can have it grow to 100 Million Dollars in less then 42 years.

The above examples do not take into account the increase contribution limits from 2009 on therefore your potential growth could be substantially more. Once you are at or near retirement age you can convert your loan portfolio to helping less risky individuals and earn an Annual income of $50,000 to $100,000 for every million Dollars in your Loan Portfolio.

About the Author
Mike BigMak Makler Offers Financial Services (Life Insurance, Annuities and Mortgage Protection) in Florissant Missouri which is in North St. Louis County Missouri Just Across the Bridge from St. Charles Missouri and Alton IL

Call Mike at 314 398-5547

Visit Mike's Web Pages:
http://naabigmak.com

For Insurance Questions:
http://123mortgagesave.com

Copyright © 2005-2006 Mike BigMak Makler

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