• Argongas@kbin.social
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    1 year ago

    Maybe it should be. Decoupling retirement and Wall Street would probably let us take a more honest look at the costs and benefits of for profit corporations in our society.

    • Neuromancer@lemm.ee
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      1 year ago

      We need regulations (laws) to make them viable for retirement.

      A forced match plus a 10% pay paid for by the employer.

      Most people just can’t save enough in a 401k to make it solid retirement program. You’re capped at little under 20k a year. I may mine every year.

      I wouldn’t even mind a national pension plan or something similar.

      The current system isn’t viable for many reasons.

      My mom is retired but she has two pensions and social equity plus some other income. She’s in a rare spot that she’s very comfortable in retirement.

      • n0m4n@lemmy.ml
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        1 year ago

        The amounts have changed. For 2023, the current 401K maximum is $22,500, and if you are 50 or older, $30,000.

        For 2023, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than: $6,500 ($7,500 if you’re age 50 or older), or. If less, your taxable compensation for the year.

        Cutting the budget to come up with an extra $28,000 is the hard part.

        • Neuromancer@lemm.ee
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          1 year ago

          I’m not eligible for a Roth and I don’t get a tax deduction for an Ira. I do roll over my 401k into an Ira when I go to a new employer.

          The amount change ever year but they really don’t amount to a good retirement.

    • HubertManne@kbin.social
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      1 year ago

      agreed. retirement and healthcare should not be tied to employment. Want a snazzier retirement. Fine that is 401k/ira material. Retirement plus health insurance should be enough to pay for a retirment home private room where you won’t be molested (i.e. - pays enough that folks don’t want to lose their job)