this post was submitted on 25 Sep 2023
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United States | News & Politics
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Maybe it should be. Decoupling retirement and Wall Street would probably let us take a more honest look at the costs and benefits of for profit corporations in our society.
The amounts have changed. For 2023, the current 401K maximum is $22,500, and if you are 50 or older, $30,000.
For 2023, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than: $6,500 ($7,500 if you're age 50 or older), or. If less, your taxable compensation for the year.
Cutting the budget to come up with an extra $28,000 is the hard part.
agreed. retirement and healthcare should not be tied to employment. Want a snazzier retirement. Fine that is 401k/ira material. Retirement plus health insurance should be enough to pay for a retirment home private room where you won't be molested (i.e. - pays enough that folks don't want to lose their job)