Obama’s Budget Would Cap Retirement Accounts

[mickeyd]

So now we may have a reason to not save/invest as much as possible for retirement. But it's only a "plan" at this time. Stay tuned. Try to keep your stash under $3M for now.

Obama’s budget plan, to be unveiled April 10, would prohibit taxpayers from accumulating more than $3 million in an individual retirement account. That proposal would generate $9 billion in revenue for the Treasury over the next decade, according to a White House statement released today.

“Under current rules, some wealthy individuals are able to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving,” the statement said.

Obama's Budget Would Cap Romney-Sized Retirement Accounts

 

[gerrym51]

as long as this is grandfatherd so that anyone who has more than this in retirement accounts does not lose any-why not.

probably won't affect anyone but the top 1 percent of earners

 

[Gotadimple]

There is never NOT a reason to save/invest for retirement. $3M for an individual is a lot of $$$.

 

[RunningBum]

Already being discussed in another thread:
http://www.early-retirement.org/for...roposal-affect-retirement-accounts-66030.html

 

[MichaelB]

Lets just close this and continue the discussion in the thread RunningBum linked.