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Greetings, Infernal, and welcome. You asked:

I'm 27 years old and wondering if it makes sense to get into a no-load IRA now and pay the equivalent of 100 a month until I"m 65 and let the government tax me then on the 1mill I should have by that time....completely confused....

By my computations, if you put in $100 per month for 38 years and it earns 10.5% per year compounded monthly, your pot would grow to $600,925, a tidy increase from the $45,600 deposited, but not $1M plus. As to taxes, why not use a Roth for as long as it lasts. You won't get a tax deduction on the $1200 per year you put in, but then nothing gets taxed on the other end, either. For a person your age, that's a far better deal than a deductible IRA IMHO.

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