Detailed text transcripts for TV channel - MSNBC - 20171023:15:10:00
Seth helped me out with this. we have a worker turning 50 in 2018. planning to retire at the age of 65. they realize they may not have saved enough for retirement and they max out their tax-free contribution to their employers 401(k). they put in $18,000. now, under the current system, this would be $18,000. let's say they didn't put any other money into the account and they got a good return, bit higher than the average return but a good return of 7% a year. this $18,000 over 15 years turns into $50,000 at retirement. in theory, if you're 50 years old and realize you haven't put enough in, yo...
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