My mistake. I was referencing IRA’s.
Regardless, why is that limit so much less than 401(k)’s?
>>Regardless, why is that limit so much less than 401(k)’s?<<
They want to funnel people into 401(k)s.
I am self-employed and have an SEP.
There are a LOT of options. If you think you will be taxed more in retirement than now the Roth is a pretty good vehicle.
Retirement planning takes a lot of thought and a lot of professional help. The longer people wait, the more if that it takes.
I waited and paid a LOT in time and opportunity cost. If I had a time machine and could only take one trip, I would go back to the first-job me and slap me upside the head so hard I could still feel it today and say “START RETIREMENT PLANNING NOW YOU IDIOT!!”