Have you ever tried doing what I call the Michael Jordan style of investing for your IRA's. Most people don't know what MJ's secret for being the highest scoring player per game was. I don't know what he averaged, but let's say it was 32 points a game. MJ didn't start the game trying to make 32 points. Instead he looked at it as four quarters, so 8 points a quarter or 1 basket every about 4 minutes. And he figured that if he wasn't making at least 1 basket every four minutes, what was he doing out there. If he did more, great, if less, then he better get his butt in gear and get to work.
So how would that apply to your IRA. Let's say you want to get 2% a month. Is that hard? Well, you only need .5% a week. Lots of stocks go up more than that in a day. So on say a $25 stock you would need to get .125 cents per share after commissions. As you can see keeping your commission cost low would be important. Besides having low commissions costs, you could buy enough shares to keep the per share cost down, or maybe try to get 1% per trade, which would half your commission cost since you're doing half as many trades. There are lots of ways you could do it, and you just have to sit down with a calculator to figure out the best way for you to manage the risk and the expenses. But you would want to net, in your pocket 2%.
Now if you do that 2% a month, month after month, that would give you 25% a year. 25% a year doubles your money every three years. So if you start with $20,000 and NEVER had another penny, after 20 years you would have over a million dollars and be making $20,000 a month. You could probably retire on that couldn't you? Certainly wouldn't hurt to see if you could do it. No, you don't want to try and make a million dollars. You just want to run the numbers to see if you can come up with a way to get 2% a month in your IRA. The rest of it takes care of it's self.
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