Originally Posted by
Tailhookah
The MBCBP helps everyone. Not just someone who’s about to retire.
Saying this over and over again doesn’t make it true.
It shelters more income than we are allowed now from taxes. Many of you who don’t hit the IRS limits for tax sheltered 401k accounts now will soon be able to do that. Especially with a new contract and as you senior up into higher income levels you’ll need more shelters for your income. That’s all the MBCBP provides…. Additional shelter from taxes. So for those naysayers out there just riddle me how that’s bad and not beneficial for everyone. Especially for those who have longer for retirement?
If mandatory it will be bad because it will effectively end the mega back door roth. It will prevent you from placing your 401k excess in alternative, better options like real estate. It does not allow you to use the money to save for other non retirement savings goals like college. And if you want to waste the money on hookers and blow, that’s your choice and a mandatory mbcbp will prevent that too.
Also, no response to multiple people calling you out for claiming to have sacrificed out of your own pocket to save the UNAs?