Quote:
Originally Posted by HarryT
Private pension schemes here in the UK are enormously beneficial in that the contributions are tax free. That means that, if you're a "higher rate" income tax payer, for each £1 you pay into the fund, the government pays in another 40p on your behalf. It doesn't get much better than that!
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Oh how I wish they did that here!!
Guess I should be happy that instead of paying 30% tax I only pay 15% tax on any dollars I choose to lock away for 35 years without access to. All in all I'd rather have access to my dollars to invest and use to my best advantage and pay a little more tax than stuffing it into a fund the barely outperforms the index, having to pay "management fees" for the priviledge and then having no control over it for 35 years.
Cheers,
PKFFW