How many working Americans can afford to put $18,000 in their 401(k) accts per year? Seems like very few. Why NOT cap it at a lower number?
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If you have few expenses and a cheap mortgage (which most over 40/50 do) $1500/month pre tax is very reasonable, even on 60k. On 80? 90?
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Small Business owners lose incentive to have a 401k plan if they are capped even lower. Then the employees lose out on match bc no plan
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