Rebecca Walser
speaker
151 appearances
2 recordings
1 series
first heard Jan 2018
last heard May 2018
Rebecca Walser’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Have a $1 Million 401(k)? You're Not Ready to Retire · 18 May 2018
podcast
Sure, of course.
And it's just a simple matter of math.
If we just look at we just had a tax cut.
Right.
And so we now right now have the lowest taxes we've had really almost since Reagan.
There's a couple of Bush era years there were low.
But basically, with these low tax rates, taxes, in my opinion, are on sale in 2018.
And if you just read the tea leaves, which is twenty one trillion dollars of debt and really more urgently is the actual retirement of the boomers en masse.
So we hear a lot that 10,000 boomers retire a day.
But that's actually not really true.
The concentration of the baby boomer generation were really born so that they are going to retire in mass, about 70 percent of them from 2022 to 2027.
You've got that many people retiring in that sort of a window.
You can see that the shift of benefit payments is going to affect the tax code very, very soon.
The 401k, I think, is going to be looked back on.
And this actually really already happened.
If you look at the cover of Time magazine, for example, it's
in 2009, right after the Great Recession, it said it was time to retire the 401k.
And that was really more about market volatility and not so much about taxes.
So there's really two factors that really can detriment a retirement saver inside the 401k, and that is market volatility and it is taxes.
So if we look at the market volatility piece of it for a second, the reason that we had a 45% increase in the fidelity plans that went from $108,000 to $157,000
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