No. of Recommendations: 3
The Financial Samurai is a guy who worked in finance in San Fran then retired in his 30s.

There are, alas, many people who (effectively) won the lotto and think that it was so easy that everybody could & should do it. Similar to those who confuse a bull market for genius.

I think I first started reading his blog thanks to a link on this board where he wrote why either Roths were stupid or regular IRAs are stupid, and even though the real answer is "it depends on your assumptions,"

I also think that _financially_ both IRAs and Roths are kinda stupid. Looked at it from the viewpoint of your entire life, they just shuffle the timing of WHEN you pay taxes. And for most people that is only a small advantage. Real, but small.

I would say that the primary benefit of IRAs and Roths (and 401k's) is that they trick people into saving part of their income for retirement instead of spending it as it comes in.

Which, by the way, is why so many people have too much income tax withheld from their paychecks so they get a large refund in April. It's an easy way to save money from your paycheck that would otherwise be spend. Like Christmas Club savings accounts. If they tried to save it themselves out of each paycheck, it wouldn't happen.
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