401k

>>131723339
Being a government backed institution, some government bureaucrat probably thought the wealthy would exploit them, and wanted to cap it.
You really shouldn't bother with a 401K at all unless your employer matches contributions, even then you're often times better served by another type of savings account of investment in the long run.

Not being proactive about saving and retirement is one of the biggest downfalls of white people in America. If every John and Sally MidAmerica put $5 a week into an IRA or money market account instead of buying a pack of cigarettes this whole country would practically be paved with gold.

>>131723339
Because the government doesn't get any tax money until you retire after 59 1/2. If you put 100,000 a year into it today, the government wouldn't see that money until 30 to 40 years later.

That and if you're stupid enough not to invest in mutual funds or some other Roth account, you're retarded.