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"Worked for DW and I. We lived below our means since the first hour out of college, saved, and got into that IRA program early on. We retired at 55 and 53 respectively, 100% on our investments." Posted by retiredtraveler
I too don't understand this topic very well, including above response to it. If we're talking about IRAs with their early (pre 59) withdrawal penalty, how could one retire in their early/mid 50's on those?
Posted by saworld
I guess RT could address your question, but presumably they also had other investments. As I recall, IRA contributions are fairly limited, making it difficult to retire early on that alone.
I agree that the OP is a little mysterious. It seems to me that IRA's and 401k's are doing exactly what they were intended to do: provide a efficient vehicle for retirement savings. Unfortunately, many retirees did not or could not take advantage of them. Maybe the "could nots" are what alotofgrey is referring to.