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Message
re: 401k - Max in January or average throughout year
Posted on 1/23/18 at 11:02 pm to YoungManOldMan
Posted on 1/23/18 at 11:02 pm to YoungManOldMan
quote:
If you max your 401K for 30 years, you will retire a multi millionaire.
I do not understand why people do not realize this.
Because some people would rather live life now than be a millionaire when they are 72 and then try to live life then.
I remember listening to Dave Ramsey years ago. All of these people called in wanting him to tell them to save everything for retirement. Dave said that he knew many people that did exactly that but never lived to reach retirement.
I have had the good fortune of putting plenty into retirement, but I still balanced it with trips to Bora Bora, Mallorca, Cabo, Cancun, Europe, etc. I would rather have those experiences now than when I am in my 70s.
Plus, with the rate that our deficit is going, income tax percentages maybe be so high that most of your 401k may go toward taxes.
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