Hello, I’m 39 years old and I don’t have an IRA. I have a 401k with $45k (I contribute 10% income to this) a few stocks worth $65k, and some bitcoin worth $38k (super volatile, not a safe asset, I understand).
I want to keep building on my investments and retirement, but as I understand it, the dollars put towards an IRA later along the journey don’t produce as much as they would have earlier, say in your 20s, because of time and compounding interest.
Do you guys think it is still worth it for someone my age to try and max out an IRA every year starting at 39 until I retire (I’m not sure what age that would be honestly)?
Thanks all, and good luck out there in these times.