One of the drawbacks of retirement accounts is they turn capital gains and dividends into ordinary income. Conversely, if you would like a little regular interest income to prevent your retirement ship from listing to the equity side too much, an IRA is great for stuffing full of high yield debt and other investments that would normally be taxed as 'ordinary income'. Make it grow for 25 years (IIRC mhtyler is a youngish retiree) and contribute to it at $3k-$5k per year and you're talking some serious $$ on the other end. Make the takeout tax free, all the better.IIRC, you are fairly well off mhtyler, so you may not have the need; but others may also want to pursue a little work, if their portfolios have been punished a bit, so they may be permitted to contribute to a ROTH. I wouldn't give up on the idea. Maybe you could find some work you like doing anyway. Pretty minimal amounts to fully fund on a yearly basis.
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