Let’s be real—most veterans I talk to don’t give a damn about retirement accounts. Not because they’re lazy, but because no one ever broke it down in a way that actually makes sense. Let’s fix that.

🤔 What is retirement account (401k / IRA) exactly?

It’s money you put away now and (ideally) leave untouched until you hit 59 and a half. Sounds lame, right? Why would I want to stash cash for something 30, 40 years away? I could use that money to buy so many beers (and crayons for my fellow Marines out there)…

But here’s the thing: the tax advantages are insane.

For the money you put into traditional IRA / 401(k):

You put in pre-tax money. This means:

• Your taxable income goes down today.

• You pay taxes later, when you withdraw at retirement.

Real life example: 

Let’s say you make $60,000 a year.

If you put $6,000 into a traditional 401(k), the government doesn’t count that $6,000 when calculating your income tax.

So instead of paying taxes on $60,000, you're only taxed on $54,000.

👉 That means less money goes to Uncle Sam this year, and more stays invested, growing for your future.

For the money you put into Roth IRA/401(k):

You put in after-tax money.

• You pay taxes now.

• But when you withdraw decades later—it’s 100% tax-free.

• In other words, if your $10,000 grows into $100,000 in 30 years, you don’t pay a penny of taxes on the gain!

 💰️ What’s the Contribution limit for IRA and 401k?

• IRA

  • Max: $7,000/year

  • If you’re 50 or older: $8,000/year (you get a $1,000 “catch-up” boost)

• 401(k)

  • Max: $23,000/year

  • If you’re 50 or older: $30,500/year (that’s a $7,500 catch-up)

🔥 Yes—you can absolutely contribute to both at the same time.

How do I open an IRA account?

• Fidelity: Veteran-friendly, great customer service, zero account fees.

• Charles Schwab: Clean interface, great tools, low-cost funds.

• Robinhood: User-friendly, modern vibe, now offers 3% IRA match (yes, really).

How do I open a 401k account?

You can’t do this by yourself.
401(k) accounts are offered through your employer.
So if you have a civilian job, ask HR if they offer a 401(k)—and whether they match contributions. If they do, that’s free money. Never say no to free money.

Time to Take Action — NOW!

If you’ve made it this far and are thinking:

This is useful, Simon… I’ll open a retirement account someday.

NO YOU WON’T.

Not unless you do it 🔥 RIGHT NOW 🔥 

You need to click one of the links above and open a retirement account, NOW!

Your future self will thank you. Open an IRA today. It takes less than 10 minutes. Then set it and forget it. Let compound interest do the work.

Start today. Or you’ll still be working at 75… greeting people at Walmart.

(Not that there’s anything wrong with that. But wouldn’t it be nice to choose to work instead of needing to?)