Tbf the average working salary in America is 58k. No matter what your mortgage, etc situation is saving 1/5 of your salary can be tough.
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I guess what I'm saying is that you're kind of slightly right and slightly wrong in your assertions.
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I’m not saying it would be easy, but lowering caps makes it impossible. Making 60k and saving 18k *pre-tax* is 100% reasonable, esp w/o rent
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And even then, you can be solidly middle class w 100k salary in later years and little retirement, trying to catch up. So why lower cap?
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Saving for retirement in a 401k is the healthiest thing that can happen in the economy, and isn’t enough to make rich ppl game system
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Agreed about caps. Don't agree that is "reasonable" or even feasible for many families.
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Sure. The people lowering the caps would hurt the most would be the 55 year old w desperately trying to retire in 10 yrs. Last ppl to hurt.
End of conversation
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$18k cap is a good incentive for everyone even if few choose to put away that much. Government ends up getting more taxes after it grows too
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