Lesson 15 IRAs
Learning to Love IRAs
IRAs don’t get enough respect. They are an extremely powerful wealth accumulation vehicle for individuals or families. In some very fundamental ways, they are the best and most flexible retirement plans. Americans should use them more.
Technically, IRAs are not a “qualified plan,” so they are treated somewhat differently than corporate or non-profit plans. That’s not all bad, but you need to understand the subtle differences.
As you see in the following list, the vast majority of American families can and should have IRAs. If you start early and invest wisely, they provide very substantial benefits: