Posted: 2/13/2016 11:36:04 AM EDT
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Wondering if its worth it to max out my 401K each year between my contribution and company contribution , my 401K/IRA will have 18k contributions of my own , my company contributes over 7K just in principal each year. and i can buy another 5500 in IRA. so thats like 30K/year. i already put the minimum 6% because thats what my company matches.
However the way this country is going , it wouldnt surprise me if .gov start charge the taxes and fees on retirement accounts. I can see them doing something like coming up with some new tax or fee when you start withdrawing at retirement age. or applying SS/medicare tax on IRA's to keep the PONZI sceem going. |
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You need to consider what your alternatives are. Okay, so you won't contribute to retirement accounts because you think the government is going to change the rules in the future. The only alternative you really have that would give you similar growth would be a taxable brokerage account. No current tax deduction, you pay taxes on the income as it is earned, it's vulnerable to creditors, and still has the risk of the government changing the rules on you.
Basically, your alternatives for saving for retirement are just as bad if not worse. Your best bet is to think positive and contribute to your tax advantaged accounts. |
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Quoted:
This. The younger you are the better a Roth IRA is. Quoted:
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Whatever you decide, make sure a Roth IRA is in there somehow. This. The younger you are the better a Roth IRA is. Roth accounts make sense if you anticipate your tax rate being higher in retirement. Otherwise is breaks even or loses out to deductible IRAs. |
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Quoted:
Wondering if its worth it to max out my 401K each year between my contribution and company contribution , my 401K/IRA will have 18k contributions of my own , my company contributes over 7K just in principal each year. and i can buy another 5500 in IRA. so thats like 30K/year. i already put the minimum 6% because thats what my company matches. However the way this country is going , it wouldnt surprise me if .gov start charge the taxes and fees on retirement accounts. I can see them doing something like coming up with some new tax or fee when you start withdrawing at retirement age. or applying SS/medicare tax on IRA's to keep the PONZI sceem going. You need to be just as worried about happens if they DON'T do all these things. Shit doesn't hit the fan and you get old as anticipated, now what? Keep maxing your 401k. The speculation about what the government could do is just an argument for diversification, not an argument for abandoning what you are already doing. |
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Quoted: Yeah, this is great advice. Just buy .22lr and silver.  Quoted: Quoted: How old are you? If you're young, don't expect any investment to still be there for you. It will become the people's 401K. Yeah, this is great advice. Just buy .22lr and silver. At least you'll have something to show for your money. Better yet, if you are young, get out whilst you can and go somewhere with a future. |