As part of onboarding my new job, I was eager to get my 401k setup so I can get back to reducing my income to avoid another horrible tax situation but was shocked to learn that I would have to wait 30 days to enroll or maybe 60 or 90 days. People weren’t sure what the wait time was but they would figure it out and get back to me.
It got me thinking why we have these absurd rules for everything employment related. Why does my health insurance come from my employer and why are there all these time windows to enroll, change or drop my health insurance? Why are there all these 401k rules that delay enrollment, matching funds, or force you out if you leave a company?
It just seems too many things are tethered to employment when they shouldn’t be. And I am well away that I could just setup an IRA and stuff money in there but it’s not the same. A 401k has the Rule of 55 option whereas the IRA does not. Again why?
I am sure there were good reasons for all of this at some point but the world evolves and moves on and I’d like for all of this to change for the better. But then again, I’m almost done with all of this and ready to retire soon so why bother?
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Do you wish this bureaucracy didn’t exist? Let me know in the comments below.