I’d love to find a company that actually goes above and beyond on 401k and uses it as a piece of salary rather than just a paltry little matching contribution. A company can legally contribute so much more money than an individual can, the overall limit is $57,000 but my individual limit is less than half that.
I think you should expect income taxes to go up (likely substantially) over the next 40 years, making Roth attractive to those who will retire with substantial income streams in retirement.
The IRS rules for 401k plans allow for the employer to put in twice as much as the employee - that's the only way to hit the maximum. But employers didn't seem to get the memo.
My current employer advertised a 2-to-1 401k match, which was a big selling point until I learned that it was capped at $4800/year. And then even that went away because of COVID :(
I've considered going back to consulting a couple of times just to be able to give myself a proper 401k match.
I’d love to find a company that actually goes above and beyond on 401k and uses it as a piece of salary rather than just a paltry little matching contribution. A company can legally contribute so much more money than an individual can, the overall limit is $57,000 but my individual limit is less than half that.