Thread by @APompliano

Want to know what wealth hack Peter Thiel, Warren Buffet, and Mitt Romney all have in common?

They all have $20M+ tax-free investment accounts.

Here's how 👇

When you invest on an exchange (like Coinbase) or in a brokerage account (like Robinhood), you have to pay capital gains taxes when you sell or trade.

Capital gains taxes can range from 15% all the way up to 37% depending on how long you've held the asset and your income.

Let's assume you bought 1 bitcoin in March of 2020 for $5,000 and sold it last week for $50,000.

That's a $45,000 gain -- not too bad.

However, if you made that trade on an exchange like Coinbase, you would owe $6,750 in capital gains taxes.

So how do Peter Thiel, Warren Buffet, and Mitt Romney avoid paying capital gains taxes on their $20M+ investment accounts?

They all use Roth IRAs.

Roth IRAs are a type of retirement account that have 2 important features:

1. You don't have to pay capital gains taxes when you trade within an IRA

2. You don't have to pay any taxes at all when you withdraw your money (as long as you wait until you're 62.5)

However, most Americans can't use Roth IRAs to their full potential.

While Thiel, Buffet, Romney and other millionaires invest in high-upside assets, everyone else is stuck picking between a few mutual funds and ETFs that legacy banks allow you to buy.

.@choicebykt is changing that.

Choice enables you to invest in bitcoin, crypto, and other alternative assets alongside traditional assets (stocks, bonds, ETFs, etc.) all in the same retirement account.

They also let you hold your own private keys.

If you're a long-term investor and not using a Roth IRA, you're leaving money on the table.

@choicebykt is the easiest way to change that. I've been working with Choice for a long time and am a happy customer as well.

Sign up: use.choiceapp.io/pomp

To summarize:

1. You don't have to pay taxes on your gains within a Roth IRA

2. You can invest in bitcoin, crypto, and thousands of other assets in a Roth IRA

3. @choicebykt is the simplest way to open a retirement account.

Oh, and if you fund your account before 12/25, @choicebykt will give you $100 in bitcoin 🤯

So what are you waiting for?

Sign up: use.choiceapp.io/pomp