Too Long; Didn't Read
Many economies nowadays suffer from inflation and currency devaluation (especially for developing countries) To beat those, you need to create additional value on your money through investment. Invest in low-cost index funds and index funds are the best options to go into that for at least the first 5ā10k before venturing to other funds or individual stock picking. An individual retirement account is a long-term passive investment, usually for 15-40 years, with post-tax paid earningsāyou will pay taxes only when you decide to stop contributing and cash out your money.