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From: http://www.forbes.com/sites/maggiemcgrath/2015/05/15/what-the-heck-is-a-401k-and-other-investing-questions-youre-too-embarrassed-to-ask/ http://www.forbes
by Gys 11y ago
From:
http://www.forbes.com/sites/maggiemcgrath/2015/05/15/what-the-heck-is-a-401k-and-other-investing-questions-youre-too-embarrassed-to-ask/ http://www.forbes.com/sites/maggiemcgrath/2015/05/15/what-th...
"Only about half of American workers have access to a 401k, which is a workplace savings plan that lets employees invest a portion of their paycheck before taxes are taken out. The savings can grow tax free until retirement, at which point withdrawals will be taxed as ordinary income. A large majority of employers will match an employee’s contribution – up to a point – thereby boosting the employee’s savings rate."
- toomuchtodo 11y agoIt drives me insane that we haven't decoupled retirement accounts from employment as we're starting to with healthcare. Solo 401k? 401k? Roth 401k? IRA? Roth IRA? SEP IRA? SIMPLE IRA? FFS, just create legislation for two types of retirement accounts, pre-tax and post tax. Restrict by total yearly contribution between all accounts, with another limit for employer contribution. Setup contributions from both employee and employer with ACH routing and account numbers. Problem solved.
- deleted 11y ago[deleted]
- snikeris 11y agoUnfortunately, my healthcare options are still tightly coupled to my employment.
- toomuchtodo 11y agoMy startup offers poor healthcare choices; I went straight to the federal exchange. $500/month for two adults in their early 30s, excellent deductible/copays (no subsidies of course on a tech salary). Have you checked if this is a possibility?
- snikeris 11y agoI pay less than what I'd get on the federal exchange (employer subsidizes), but the service sucks. I wish employers would allow you more freedom in choosing an insurance company, but still subsidize your healthcare costs, whoever you choose to do business with.
- deleted 11y ago[deleted]
- psawaya 11y agoThanks for the stat. Expanding access to 401ks is definitely a goal of ours.