No. of Recommendations: 4
sykesix: "And you'd have to be not only exceptionally adroit you'd almost have to be magical to get $3MM in an IRA. IRAs were created in 1974 and the contribution limit was $1500/year, which was raised to $2000 in the 1980s, and up to $5000/year in the 2000s. Those are not big amounts. I realize you personally will never be convinced to crack a spreadsheet or use a calculator, but you have to have fargin' amazing returns to get to $3MM, with contribution limits that low. That was by design."

1. Why does everyone ignore 401-k rollovers into an IRA?

2. The design was intended to replace corporate pensions, as one leg of the three legged stool that traditionally consisted of (i) Social Security, (ii) company pension and (iii) personal savings, at retirement age.

Many appear to want to destroy social security, and many also appear to ignore the old thrid leg, personal savings (outside of an IRA).

Regards, JAFO
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