Posted on 10/20/2017 9:58:58 AM PDT by C19fan
Proposals floating around Washington to cap the amount that Americans can contribute before taxes to 401(k) plans and individual retirement accounts are unsettling professionals in the retirement industry.
Republicans are looking for ways to generate revenue to support broad reductions in individual tax rates. One idea is to limit the amount of pretax money households can sock away for retirement saving. Such a move would likely generate significant political blowback but it hasn’t been explicitly ruled out, stirring worry among industry lobbyists.
(Excerpt) Read more at marketwatch.com ...
Nay.
I don’t believe you pay any income taxes at all.
"Unintended?"
.
Relax!
Buy Gold and Silver, not IRAs that can be ‘bailed in’ thus are worthless.
.
I pay what I owe and don’t expect subsidies from someone else. You should be ashamed of the public meltdown you’re having.
IRA and 401k have completely different contribution limits. I think the individual cap is approx $18,000 on 401k’s with a much higher cap $50K+ when employer matching contributions are added.
Are they accepting applications?
1. Doesn't a 401(k) plan have a simple advantage over a Roth IRA (or any IRA, for that matter) if the 401(k) includes an employer match?
2. Doesn't the Roth IRA or Roth 401(k) come with an inherent risk of future tax policy changes? In other words, there is nothing that prevents Congress from taxing a Roth IRA or Roth 401(k) in the future even though they've "promised" today that withdrawals will be tax free?
3. In light of #2, doesn't a 401(k) or traditional IRA have inherent advantages over a Roth retirement account in that they offer certainty of tax exemption up front while the Roth offers some probability (even if it's a high probability) of a tax-free withdrawal in the future?
For certain people in my position there are enormous advantages to a 401(k) over an IRA anyway, but those probably aren't worth discussing here because I'm in a unique situation where I am self-employed and have the ability to do self-directed retirement accounts that aren't available to most people.
Then you’ve been doing it all wrong or don’t know what you’re doing.
My 401k have gone up over 120% in the past three years.
You don;t owe any taxes because you have no income above taxable threshold.
You live off the taxes others pay.
That’s why you are anxious for them to pay more. You feel insecure.
Because you are insecure. Without the state you would starve and wouldn’t even be able to protect yourself.
You are a net drain on the productive class.
Wow!
That’s amazing! Stay there as long as you can.
You are a net drain on the productive class.
those funds “are” spent on stuff...
stocks!
My sex life is like social security.
I get a little every month; not enough to live on, mind you.
Good to see that you’ve facilitated a lot of informative discussion here, and you’re taking the heat well. LOL.
my wifes... matches dollar for dollar :P
we take EVERY free dollar they give us, up to the max allowed.
If I’d waited until 65 to start SS, I probably could live off it entirely. But that IRA doesn’t spend itself. ;)
I live on SS.......Small Salary.
Number one is one that he, you and I agree in.
The others are fodder for fun discussion over a microbrew.
100% matching up to the max for my wife job + free college tuition for my four kids at a top notch private university.
:P
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