4 ms·
isn’t that a 401k? I wish they raised the limits.. it’s woefully inadequate after years of inflation.
by supernovae 4y ago
isn’t that a 401k?
I wish they raised the limits.. it’s woefully inadequate after years of inflation.
- strongpigeon 4y agoThe biggest difference being that typically the state assumes the underperformance risk for a pension, versus the individual for a 401k.
- oneoff786 4y agoA 401k is like a state funded pension? No, not at all?
- gruez 4y agoYou got the quotes mixed up, the relevant parts are: >>I frankly wish we had a tax free investing account option available instead. > isn’t that a 401k?
- jnwatson 4y agoThe IRS raises the limits every year. I imagine they will raise it quite a bit next year.
- moffkalast 4y agoYeah we don't get that one nor Roth IRA in most of Europe. Afaik it's only a USA thing (though on second thought I do think pensions are optional in the UK so they may have a similar system). The main difference between this and a 401k is that the money you pay into it isn't yours and doesn't affect what you get in the end, only your work years fed into some chart determine that. The taxes go directly to current payouts as it would be in a literal ponzi scheme.
- arecurrence 4y agoCanada has similar in the TFSA and RRSP.