Forget 401Ks. I don’t contribute to mine anymore. I don’t want the US Govt as my partner in retirement. They will change the rules on the 401Ks, if not outright confiscation of them altogether, later - mark my words. The counterparty risk of the 401K is way too high, IMHO. I’ll pay the taxes now, thank you very much.
And don’t forget, money that grows in a 401 is subject to ordinary tax rates when taken out.
Take the money and invest in long term investments and hope they don’t increase the cap gains tax too much. Of course, that is the next target of the Zero and his minions.
Welcome to the Gulog.
Personally, I think the risk of the government confiscating retirement funds directly is rather low. They can steal it without being so blatant about it.
If they need the money, they aren't going to just target retirement accounts..
If my company didn’t have matching funds, I would drop the 401 K.
Over course, I will never be able retire. To many people expect that you can have a second childhood and stop working. That will not be an option for many in the future.