Reply to Why is the Annual Retirement Contribution Still Maxed at $18.5k?

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Reply to "Why is the Annual Retirement Contribution Still Maxed at $18.5k?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The GOP is in control and they want you eating cat food into your retirement. It will be your fault when you can’t make ends meet. [/quote]

Actually, many on the left oppose increases because it would almost exclusively benefit the relatively well-off.  The poor or even true MC already can't afford to contribute the existing max amount.[/quote]

This is true.  It is mostly the left who oppose this as a "give away to the rich".  Apparently anyone who prioritizes saving for their own retirement as much as they can is "rich".[/quote]

Let's be realistic. Being able to take 100% advantage of tax advantaged space is beyond the means of most Americans. Even Americans who are saving for retirement. Most people (even middle class people) just don't have the income level to do it. [b]As for HSA's, the only way they are a good deal is if you can afford to pay all your medical bills and just leave the HSA money invested.[/b] Once again, most people can not afford this.[/quote]

[b]I think HSAs are only available for people that select High Deductible plans, too.  Which is stupid to select unless you expect pretty low medical plans. [/b]

People on DCUM are in a bubble. Assuming everyone and their brother is maxing out their 401k, working their way around tax laws to get money into an IRA, etc. [/quote]

That's not necessarily true. We have a high deductible plan and the lower monthly premiums offsets the higher deductible. So even if you have high medical expenses you end up about even, and if you have lower expenses you end up ahead. In our case the additional tax benefit of the HSA (as a savings vehicle in our case) means the high deductible plan is a better deal on an annual basis. That would be true for most people, but people tend to look at their health care costs as their out of pocket expenses, not the total of the premium plus OOP, plus any tax benefits.[/quote]

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