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Started By
Message
re: Proposed 401k limit -- $2400 per year
Posted on 10/21/17 at 10:05 am to ghost2most
Posted on 10/21/17 at 10:05 am to ghost2most
quote:
And responsible people will still do that, but it really hurts their ability to lower taxes and the new plan won't help.
Isn’t this plan coupled with a 2x increase in the standard deduction?
quote:
So basically, people who don't save, no change. People who do, get fricked.
Eh. I’d rather be in a Roth based plan. Would be way better for me, and most people, in retirement.
3
Posted on 10/21/17 at 10:06 am to Golfer
I'm ok if they raise the Roth limit to match. $5500 is a long way from $18K. I max both.
Posted on 10/21/17 at 10:12 am to Golfer
quote:
Eh. I’d rather be in a Roth based plan. Would be way better for me, and most people, in retirement.
I'd rather take the tax benefit now, than a theoretical tax benefit 30 years from now.
This post was edited on 10/21/17 at 10:19 am
Posted on 10/23/17 at 9:09 am to Golfer
quote:
Eh. I’d rather be in a Roth based plan.
I'd be fine with this if they substantially raised the income limits for Roth contributions, in addition to the contribution limits.
It would still sting a little with the increased tax liability, but at least I'd be able to maintain retirement goals.
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