Remember, an IRA is just one part of the retirement savings plan. Most workers also have a 401(k) or a 403(b). You’ll be eligible for Social Security, and some of today’s workers will also have a pension.
And remember all these numbers are simply your savings. With market returns of even 5% (a conservative number), you’ll have well over what you’ve actually saved by the time you start extracting money from your accounts.
By doing your best to max out your IRA each year, you build a strong foundation for your retirement. For most workers, $6,000 a year isn’t too great a number to save. What you save now will be what you live off later. So do your future self a favor and start saving in your IRA now.