Disadvantages Of The ROTH IRA: Not All Is What It Seems
For over two years, I’ve been an opponent of the ROTH IRA after the government came out with its tricky dick way to let us all do a “one-time” conversion from our traditional IRA’s. The title of the post written in January, 2010 is called, “Be A Sloth And Don’t ROTH“.
In these two years, I’ve become a more mellow, laissez faire blogger who realizes that there’s no point trying to force my views on others if they don’t want to change. Instead, I’ve simply sought to lay out the reasons why I think the way I do, and let you readers decide.
If the choice is between NOT SAVING and saving via a ROTH IRA for your future, then the answer is that one should open up a ROTH IRA rather than piss their money away on stupid stuff that depreciates in value. However, do know that you are still pissing money away by giving some of your money to the government. And if the choice is between choosing a traditional IRA over a ROTH IRA, choosing the traditional IRA is hands down the way to go.
As you readers have demonstrated time and time again, you’re past the basics of personal finance and so am I. Financial Samurai readers are not the target audience of whether one should save or not. Of course we all must save, because eventually, we wil no longer want to work and the government might not be able to support us. We’re probably not even the target audience for the ROTH IRA since many of us can’t even contribute thanks to egregiously low income limits.
Please read the reasons why a ROTH IRA is not a good idea for many of you. If you’re still in favor, at least you know the other side of the story and Uncle Sam thanks you!
There’s nothing better than being free to do whatever you want. However, unless you’re born with a multi-million dollar trust fund, you’ll unfortunately have to work for your freedom.
I spoke to my father yesterday and curiously asked him about his thoughts on assisted living facilities. “Absolutely depressing!“, he said. I couldn’t agree more that assisted living programs are depressing given it reminds us everyday about our mortality.
Are you a man if you cannot take care of your family? Are you noble, if you do not have a job and let your wife slave away at the office, so you can latch onto her healthcare insurance, and eat the bacon she brings home? Hell yeah brothers! Stay at home men of the world, unite!
“I generated $100,000 from home in my underwear!” reads the headline. Immediately, you go ahead and click to see how, hopefully for free. But if not, maybe there’s some type of infoproduct you can buy for $99.
The wooden bar shimmers with beer stains as I stubbornly try to wipe them away. Each jab of the napkin gets stuck, like a fly to Venus. Eventually I give up as my friend returns from the Thomas Crapper smiling.