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To be fair, Individual Retirement Accounts (aka IRAs) are available outside of your employer's purview, the thing that 401Ks have over IRAs occur when the emplo
by ChuckMcM 3y ago
To be fair, Individual Retirement Accounts (aka IRAs) are available outside of your employer's purview, the thing that 401Ks have over IRAs occur when the employer matches some part of your contribution.
I continued to roll over my 401k's from various employers into an IRA when I changed jobs and now just have the IRA.
The investment choices are often sub-par, and while I can prove nothing, it sometimes "felt" like investment banks would shift losses from their clients into their funds to "spread them out across the retail investors."
- deleted 3y ago[deleted]
- BobaFloutist 3y agoIRAs have a much lower max contribution than 401ks which as far as I can tell only serves to force you to line the pockets of whoever your company chooses to operate your 401k.
- nirvdrum 3y agoIRAs have much lower contribution limits though. If you want tax-advantaged savings for retirement, those with access to a 401(k) have a huge advantage over those without. I would expect as a society we want people to properly prepare for retirement, but then we make the ability to do so contingent on your particular employer.