No. of Recommendations: 0
ptheland writes,

That just means that you managed to get a significant amount into your IRA during your working career. (And/or your living expenses are unusually low - or some combination of the two. Perhaps there were some 401k rollovers included in the IRA?) With the current limits on IRA contributions ($3000 growing to $5000 in a few years) I would imagine that someone trying to duplicate your success would need more than just IRA contributions to retire before 40. After maxing out 401k deferrals (or especially if there's no 401k available), the next logical choice IMHO would be taxable savings.

That's correct. At least 90% of my IRA assets are money I rolled over from a 401k as I job-hopped through the 1980's and early 1990's. I agree that one is unlikely to retire before age 40 on a $3,000 annual IRA contribution.


Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.