It's double taxation and fairly dumb. In my opinion it doesn't make a lot of sense to consider the non-deductible IRA route.
More Quotes from Richard Applegate:
Wrong, wrong, wrong, stupid. Taking the money out is absolutely the worst thing to do. You see people after years have all of their gains wiped out.Richard Applegate
It's not very exotic, ... It's straightforward, logical thinking. But people get stymied. I don't think people think about making their money work for them at all, let alone how to make their money work for them when it comes to retirement investing with their 401(k) and IRA.
Richard Applegate
Delaying is really costly. If you don't have time on your side, you don't have compounding.
Richard Applegate
Most definitely you should put money in a 401(k) as well as an IRA if you can afford to do it, ... The problem most people have is trying to get one dollar chase multiple needs. If they've got too much saved in retirement plans and not enough outside of them, they've over-allocated retirement. So first make sure you're saving the proper amount.
Richard Applegate
I can't tell you how many times people will tell me they're not signing up. I don't know if they get it, don't get it, don't care, or what.
Richard Applegate
Readers Who Like This Quotation Also Like:
Based on Topics: Sense & Perception QuotesI think it must be very hard to be one of the new young writers who are urged to put themselves forward when it may be the last thing on earth they'd be good at.
Anne Tyler
On the ground, Pakistan is the most virulently anti-American state on the planet.
Ted Rall
I don't think there is anything owed to us. You've got to go out and work hard for every round win.
Larry Dixon