Comments on: Retirement account contribution limits going up in 2009 http://geographic-independence.com/retirement-account-contribution-limits-going-up-in-2009/ The driver behind our financial goals Fri, 18 May 2012 07:59:07 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Kimberly http://geographic-independence.com/retirement-account-contribution-limits-going-up-in-2009/#comment-299 Kimberly Sat, 06 Dec 2008 15:24:56 +0000 http://geographic-independence.com/?p=235#comment-299 It would be great if the IRS and all of these retirement accounts could be simplified so that normal people could actually understand it all. I think that might encourage people to save more because right now it is very confusing and more than a little intimidating. Too many things like '{section 408(p)(2)(E)}'. And wouldn't it be nice if they would do the catch up contributions for people under 50 too? They could have a sliding scale so that younger people that made little retirement savings plans when they were in their 20s could catch up too. So, people in their 50s can catch up to the tune of $5500 per year, people in their 40s could add $4400 per year, and people in their 30s could do $3300 per year. I just know that there are many people that didn't realize when they were young that saving was so important, or you have a crappy job and you are just lucky to be able to eat and have a place to live. It would be great if the IRS and all of these retirement accounts could be simplified so that normal people could actually understand it all. I think that might encourage people to save more because right now it is very confusing and more than a little intimidating. Too many things like ‘{section 408(p)(2)(E)}’.

And wouldn’t it be nice if they would do the catch up contributions for people under 50 too? They could have a sliding scale so that younger people that made little retirement savings plans when they were in their 20s could catch up too. So, people in their 50s can catch up to the tune of $5500 per year, people in their 40s could add $4400 per year, and people in their 30s could do $3300 per year. I just know that there are many people that didn’t realize when they were young that saving was so important, or you have a crappy job and you are just lucky to be able to eat and have a place to live.

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