re: Another “can I retire comfortably” question

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How do people get these sums in 401K when there is a max of ~$23K a year? Two HHs contributing maxing for like 20 years....does that get there?

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I presume it is just compounding.

I typically double my 401k every 3 to 5 years.
A 52 year old has probably been working 28 to 30 years.
The sooner you start, the more power to the compounding.

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How do people get these sums in 401K when there is a max of ~$23K a year? Two HHs contrib

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Sometimes I wonder if they aren’t actually referring to a true 401k but maybe instead a profit sharing plan.

Max for profit sharing plan is like 66k per year.

Also people who work for government entities can put away a ton in retirement accounts. They have access to multiple account. I know people who do a like 3 different account to get up to around 90k per year put away. It never made sense to me that depending on the type of entity you work for, the amount you can put away for retirement can very 4 fold.