"Complaining that 'some wealthy individuals are able to accumulate many millions of dollars in these accounts,' the Obama administration announced a plan to cap the total sum of any individual's retirement accounts at $3 million. Stashing cash beyond that point, the administration insists, builds sums 'substantially more than is needed to fund reasonable levels of retirement saving.' The administration's argument seems to be based on the use of the word 'million,' implying that only nasty rich people would want to accumulate such a hoard. But is that true? How much is enough for 'reasonable levels of retirement saving.'"  MORE >>