No. of Recommendations: 1
sykesix: "Our current example would never work for an IRA. There is a $5500 per year contribution limit. So there is no way you make an initial deposit of $10,000 and then contribute $12,000. Which brings me to the next point. For most of the history of the IRA, the contribution limit has been under $2000/year. There's virtually no way an average investor gets to $3,000,000 without either being extraordinarily lucky or more much likely 2) gaming the system."

Or 3) rolling over a large 401k plan to an IRA, no gaming the system involved.

Regards, JAFO
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.