I am not really an IRA person. Prefer cash flow and businesses. I don't like government sponsored programs personally. They don't make good partners and they are your partner on an IRA
Respectfully, I disagree with that assessment. There are far better ways to create income to live on during the retirement years than contributing to a qualified retirement account.
@shipdog44 putting aside possible differences of retirement definitions (I have no intention to stop working in my "retirement" years), I did make the subtle distinction of "qualified" retirement accounts as opposed to simply stating retirement plan. I think there are far better and safer ways of building cashflow to fund your retirement years (regardless if you're just golfing everyday or you're actively creating value for the world) than blindly contributing your money in qualified retirement plans, hoping to have enough to beat 20%+ cost of living increases during the time in which you are working less. When meeting an advisor to set up a qualified retirement account, you'll likely be asked probing questions about how much you think you'll need to to retire. Anecdotally, I think most vastly underestimated the amount they'd need per year/ month to live the life that they envisioned at retirement. Money managers got it wrong too, either by failing to see where our fiat financial system will inevitably take us, or failing to give us a realistic expectation with how inflation is really going to eat away your savings. If the FEDs somehow, magically keep the arbitrarily determined 2% annual inflation target, then after 40 years of contributing to a qualified retirement, unless one states they'll need 80% more than what they need today to maintain the same living standard, they are setting themselves up for disappointment and to be forced to be miser's in their old age. Heck, even now, Social Security is raising the age to collect benefits as well as cutting the monthly checks to retirees collecting. In a time when cost of living has hit the retired people living in fixed income, primarily with Social Security as an integral part of the "retirement plan," not only are those benefits not being increased to keep up with inflation, but now they are actively being cut. One point that Garrett makes in his videos, is invest in yourself. Learn new skills and trades and go create value for the world. Don't just blindly give your money to fund managers, gambling your retirement income on "the market" in hopes that when you retire, you have money to live on. But rather crazy something to give you cashflow.
