When you're making 50-70k / year you're probably not able to put money in a 401k, especially in the event you have a single income 3 or 4 person household.
This is also missing the point slightly. You shouldn't have to rely on tax day returns.
you will be able to claim deductions immediately and owe less taxes than a single person making the same. plus you get double the standard deduction. in that case you will really pay very few taxes even if you save very little in a 401k or IRA (though you still should even if you can’t max)
refurb|3 years ago
I'd say that's pretty low considering it's median household income in the US.
tempsy|3 years ago