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Originally Posted by dc_dux
Crompsin....you are wise beyond your youth.
Thats how I stared...maxing out my contributions as soon as I started working, particularly since it brought matching contributions from employers.
Along with other investments, thats why I can consider retirement before 65.....and if SS becomes means tested in the next 20 years and I get less than I put in, it wont impact that decision.
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Exactimundo. In my opinion, IRAs are what will save my generation (kids from the 80s) from Uncle Sam's broken system of limp-dick dollars. I think young people should invest in them (IRAs) starting as early as possible (college years or immediately after), even if their parents have to help get them the initial boost to max out the first 3 to 5 years. If you start an IRA at 18 you can essentially stop putting money in it at 35, or so I was told by a few financial gurus when setting up my own account.
IRA logic: Start early, max out early, and keep it rolling as much as you can. Roth IRAs seem to be better than traditional IRAs, but I don't know all the nuances.
Having an employer that matches contributions is extremely useful, especially if they'll match up to max.