Multiple streams of income is the way to go! I agree about opening a Roth IRA. It's one of 3 ways to create tax-free income that I blogged about in a previous post: https://steemit.com/ibc/@johnmontoya/3-ways-to-have-tax-free-income-in-retirement.

The challenge with the Roth IRA are the rules and restrictions Congress sets regarding how much can be funded which is not enough in my opinion. From a liquidity standpoint, only contributions into a Roth are accessible before age 59.5 without taxes and penalies.

IBC is a private, non-qualified account. This allows the freedom to do what I want with the money when I want. And it's tax-free regardless of how old I am. No need to wait unti 59.5 to create the lifestyle I want right now. :)