<prompt> Human: I am new to IRAs and wondering how or even if this would work. My parents are about 59 and can cash out their IRA when 65. Money isnt really an issue for either of us. Is it worth it for me to put 6k in for the next 6 years so I can cash out and benefit faster?I may be missing something here but just using a IRA calculator. And use this for example:Currently 1,234,567Add 6k For next 6 years 9Parent can cash out at 65 years old and would be 2,119,687Assistant: What do you mean by cash out? Surely they are not taking all of the money out at once?And how does you putting money into your parents IRAs help you benefit faster?Human: Sorry for being vague. I am new at this. I was under the assumption that when you decide to take your money out, you take it all. What I mean by cash out is that I have my own IRA that I started 3 years ago, put 6k in each year, but cant touch it for another 42 years. If I were to also add to my parents I would be able to collect interest on my 6k per year for the next 6 years and with their current amount in there the interest gained would be that much higher. And I can pull it out and use for house, add to my current ira, etc.  <response>: gt;...with their current amount in there the interest gained would be that much higher...Of all the aspects of your post, this is the most revealing. The return on an investment you pool with another person is purely related to the amount you invest, not the other amount that is growing at the same rate. The size of your parents balance has nothing to do with how much growth your contribution would experience.This misconception suggests you are very new to concepts about money, compound interest, growth, and maybe not too good at math. I could understand being motivated to do this scheme to have slightly tax deferred growth but not have money off limits until many years in future. But if your motivation is you think your money multiplies faster because it is sitting with other money you are mistaken. 