Free for 90 days: Sign up now and get 90 days managed free after your first deposit. See offer details

Coming soon: our new one-on-one advice packages. Learn more

Now available: our new one-on-one advice packages. Learn more


The GOP tax proposal doesn’t touch 401(k) plans, but maybe it doesn’t matter

By Ali Malito

With a lower limit employees would be left to figure out how to save above and beyond that amount, according to Garrett Oakley, a financial adviser at Betterment, a New York-based robo-adviser. Even though so few people save more than $2,500, “the term ‘maxing out’ can insinuate you are saving enough, which for most employees, saving $2,400 is not enough to meet your retirement goals,” he said. Not reducing the amount also means people can stash away more money that is tax-deferred, where it is taxed at withdrawal but grows tax-free.

Read the Original Article

This article originally published November 3rd, 2017 on MarketWatch


Search our site