The $100 Million IRA
CF
Tags:
(Neanderthal, 2,772
Points)
on 8/9/12 at 10:28am
I know this isn't new and has been in the news but how is this even possible? Seems kind of ridiculous.





A) He definitely contributed
A) He definitely contributed more then 30k/year.
B) It's no where near $100MM
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
I don't think anyone has
I don't think anyone has these facts straight. Also, is it possible that when the media refers to his "100MM IRA" they are just generalizing about the aggregate of all of his qualified money (i.e. old 401k's from previous employers, SEP IRA from Bain, roth/trad IRAs, old/current tax-deferred 457 contribution plans since becoming a politician, additions to other tax-deferred instruments like annuities and cash value insurance products)?
Even with all of that and a hefty growth rate, still not sure if its close to $100MM
His IRA was explained in an
His IRA was explained in an article I read recently. Basically, Bain allowed its employees to invest their IRA's in some of its acquisitions, thus earning them gargantuan sums.