Question: Why would i not simply invest my money instead of putting it in an ira?

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Answer #1:

an IRA is investing

Answer #2:

Two simple reasons: tax benefits and employer matching.

Answer #3:

The main benefit is that investments in IRA’s grow tax-deferred. This means that earnings are not taxed each year – they’re reinvested for more growth. This keeps your investments working harder and allows your money to compound.

Another potential benefit is the ability to deduct contributions from your taxable income. This allows you to pay taxes on less money in the current year, even though you saved it and have it as an asset. Not all IRA’s have this feature, and not every taxpayer can enjoy this benefit, but it can be helpful for some.

Answer #4:

Invest with God. Give maximum possible amount to the poor and you will get reward more than your expectations.

Answer #5:

The value of the IRA lies in it's tax advantages. That's a judgment each individual must make. You can "manage your retirement" within an IRA as well as outside of one.

Answer #6:

But there will be a penalty, just a different one. Outside of the IRA you are paying a lot in taxes, so the penalty comes in the form of a reduced lifestyle.

Answer #7:

You could, as long as you don't mind paying taxes each & every year, as opposed to deferring them for 30 or 40 yrs. Altho, choosing to pay taxes immediately, as opposed to deferring them, seems not the wisest course.
Tax deferral is a huge advantage of IRA & 401k plans, as opposed to a brokerage account, which do not have these advantages.





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