Probably a stupid question (I know) but just curious.
Realistically, for the average young debt-free Joe who has a fair-decent amount of money saved up, is it more probable to become a millionaire by contributing to an IRA, playing the long term game or by trading options?
According to my research, if you contribute this year's IRA maximum of $6,000 every year and earn a 7% average annual return on investment (ROI), it would take a little more than 37½ years to grow your account to $1 million. But it's possible to get there sooner and sounds relatively safe.
Yet there's so many young degenerates out there who trade options (which is essentially playing with fire) with a desire to get rich quickly – but the probability of losing is much much higher.
Please educate me.
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