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What are the benefits of opening an IRA in an unstable/uncertain economy?
You bring up a valid concern.  IRAs are good retirement instruments as long as the rules don't change.  History has shown that governments can change the rules regarding retirement accounts. As long as you have some of your retirement assets outside of an IRA I think IRAs are good ways to save for retirement. It's not possible to withdraw the money before retirement without penalty. Also, you will be penalized if you do not withdraw enough when you do retire.