Obama = protecting the rich

[Chef Jim]

The pros:

 

1. Tax deductible.

2. Tax deferred compounded growth (maybe as much as 40 years or more)

3. Dollar cost averaging

4. Often times comes with free money and instant 100% return on your investment (matching)

 

The cons:

 

1. 100% taxable as income during retirement

2. 70 1/2 rule

3. Fees not very transparent (however this is changing)

 

The solution:

 

One of the solutions (there are many) is contribute to your 401k if offered and contribute to a Roth IRA while you qualify.

 

Create wealth now?