STYLE. COMMUNITY. GREAT CLOTHING.
Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.
Click Here to join Styleforum's thousands of style enthusiasts today!
Styleforum is supported in part by commission earning affiliate links sitewide. Please support us by using them. You may learn more here.
My understanding is that it just eliminates an early withdrawal penalty. Is there any other advantage over 401k?
We don't peg our currency to other currencies while they do.
On the other hand, we are the king of monetary manipulations.
It's really an apples vs. oranges thing. First, it's another bucket of money you can add to. A 401(k) would never exist along side a 457 but a 403(b) can. So one can max out their 403(b) and max out a 457. That's another 18k under 50 and 24k for 50 and over every year. In my wife's case however she is now in a government pension plan (with contributions split at 5.2% of pay for employee, and then the employer matches at almost 30% or her pay!) that will pay out about 75% of her then current wage at retirement. On top of that we're maxing out her 457, so in 20 years time, just her retirement benefits alone will greatly exceed the vast majority of retirees' incomes.
That's not even counting her funds from 20 years in private practice.
I agree. That's my point. A lot of countries peg their currency to something else, and China pegs it to the dollar, so the only "manipulation" they can do is either change the conversion ratio or as side effect to our own manipulation.
What happens if she doesn't stay there for 20 years?
Anyone deploying any cash today?