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Started By
Message
Why is there a cap on IRA/Roth IRA?
Posted on 11/21/22 at 4:12 pm
Posted on 11/21/22 at 4:12 pm
SIAP. But just curious on your thoughts?
This post was edited on 11/21/22 at 4:14 pm
8
Posted on 11/21/22 at 4:14 pm to DUKE87
Government wants that tax $$$
Posted on 11/21/22 at 4:38 pm to DUKE87
because the government doesn’t exist for our success, it exists for their success
Posted on 11/21/22 at 5:50 pm to DUKE87
Gotta feed the beast (Gov't)
Posted on 11/21/22 at 6:54 pm to DUKE87
Well because we do indeed need to have a government and that government does need money.
Most of their money comes from middle class as it’s the largest group of taxpayers
Most of their money comes from middle class as it’s the largest group of taxpayers
Posted on 11/21/22 at 6:59 pm to DUKE87
The more interesting question is why the IRA limit is so much lower than the 401k limit. Though the answer is no less depressing 
Posted on 11/21/22 at 8:19 pm to Joshjrn
Or how different people have different access to accounts. Employees of some states can put away like 80 or 90k pre tax with 401a, 403b, and 457. That’s a huge advantage. But regular corporate employees get what like 22.5 in a 401k.
This post was edited on 11/21/22 at 8:21 pm
Posted on 11/22/22 at 7:49 pm to DUKE87
It’s a great question
Why would a government want to limit what we save?
They don’t want us building wealth and become self reliant. They want us reliant on the government
Why would a government want to limit what we save?
They don’t want us building wealth and become self reliant. They want us reliant on the government
Posted on 11/23/22 at 5:00 am to SlidellCajun
quote:
They don’t want us building wealth and become self reliant. They want us reliant on the government
People need to read this over and over again
Posted on 11/23/22 at 7:28 am to BearsFan
quote:
Or how different people have different access to accounts. Employees of some states can put away like 80 or 90k pre tax with 401a, 403b, and 457. That’s a huge advantage. But regular corporate employees get what like 22.5 in a 401k.
The cap on defined contribution plans is the same across all of them - $61k. The cap on employee contributions, to my knowledge, is also the same at $20,500. The gap is how much your employer can contribute, so if you’re upset about missing out, check with them.
Posted on 11/23/22 at 12:41 pm to slackster
There are people that work for state institutions that are putting away like 80 or 90k if when adding up the various accounts I just mentioned. I know people that do it.
51k in 401a
18.5 in 403b
18.5 in 457.
People can do even more if older and qualify for the catch ups.
51k in 401a
18.5 in 403b
18.5 in 457.
People can do even more if older and qualify for the catch ups.
This post was edited on 11/23/22 at 12:47 pm
Posted on 11/23/22 at 10:09 pm to DUKE87
"Rich relations give crusts of bread and such
You can help yourself, but don't take too much"
You can help yourself, but don't take too much"
Posted on 11/25/22 at 9:50 pm to DUKE87
quote:
curious on your thoughts
Laws come from good ideas that get bastardized by The Powers That Be with money and influence then eventually put some appeasement in to make it seem like the laws won’t benefit The Powers That Be disproportionately to the Regular Joes.
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