Author Topic: 401(k) contributions? Not important  (Read 1835 times)

Seradoc

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401(k) contributions? Not important
« on: October 24, 2017, 08:46:14 AM »
https://www.nytimes.com/2017/10/23/us/politics/tax-cuts-costs-offsetting-tax-increases.html

Quote
The most recent idea to get caught in the game of legislative whack-a-mole was a proposal to dramatically lower the cap on the amount that workers can set aside in their 401(k) retirement accounts. Currently workers under 50 can set aside up to $18,000 a year without having to pay taxes up front on that money. House Republicans were discussing lowering that to $2,400.

Because people don't need to save more than $2,400 per year for retirement now that pensions are generally no longer available...

sherr

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Re: 401(k) contributions? Not important
« Reply #1 on: October 24, 2017, 09:04:10 AM »
FYI this was already discussed over in Investor Alley. Personally I think it fits better over there.

https://forum.mrmoneymustache.com/investor-alley/republicans-consider-sharp-cut-in-401(k)-contribution-limits/