Re: SEP IRA Tax Question
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Why should I max out my IRA if I'm 24, and I'd rather not keep my money locked up for 25 years?
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Assume 10% interest.
A 15 year old can deposit $5,000 for 3 years and never contribute again and be a millionaire at age 65. A 30 year old needs to contribute $5,000 every year until they're 65 to reach the same amount.
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