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Brobocop
LSU Fan
Baton Rouge, LA
Member since Feb 2018
1523 posts

Do you max your annual 401k contribution?
IRS Limits are $19,500 for 2021.

How old were you when you started maxing?

I just got there. 32.


kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
87862 posts
 Online 

re: Do you max your annual 401k contribution?
I do, and I get the additional for over 50.

I started maxing out probably about 10 years ago. Couldn't afford to before that.

If you are maxing out at 32, congrats, you should do well at 60.


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430
Drunken Crawfish
USA Fan
Crushing 'skis at Tobin's house
Member since Apr 2017
3353 posts

re: Do you max your annual 401k contribution?
Subtle brag but congrats. I don't think its realistic for most people to be able to max their 401k. Median Household Income for Louisiana is ~$49,000 which would be putting away 40%.

I do 10% of my salary plus employer match into a 403b.


lowspark12
Auburn Fan
nashville, tn
Member since Aug 2009
20406 posts

re: Do you max your annual 401k contribution?
I started last year at 35… but not near enough before that. Maxing out both Roth’s as well… but with 3 kids sometimes it’s hard


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220
Paul Allen
California Fan
Montauk, NY
Member since Nov 2007
69808 posts

re: Do you max your annual 401k contribution?
Even if you don’t sniff the yearly max contribution you can still retire comfortably at 60-65 if you started investing in you late 20’s/early 30’s. Time in the market is very important. That’s still 30 years of contributions to your 401k.


Brobocop
LSU Fan
Baton Rouge, LA
Member since Feb 2018
1523 posts

re: Do you max your annual 401k contribution?
quote:

Subtle brag but congrats.


Nah not really. My total balance isn't anything to brag about. I spent a few years of my career at companies that either did not match or did not offer 401k at all. I'm playing catch up!


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123
Brobocop
LSU Fan
Baton Rouge, LA
Member since Feb 2018
1523 posts

re: Do you max your annual 401k contribution?
I had a friend of mine who was maxing at like 24. lol it was sick. He made like $58k/yr.

He was new college graduate, single, lived with 2 roomates. Contributed 33% or something. it was wild.
This post was edited on 8/26 at 4:58 pm


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190
JohnnyKilroy
New Orleans Pelicans Fan
Cajun Navy Vice Admiral
Member since Oct 2012
29222 posts

re: Do you max your annual 401k contribution?
My wife maxs hers. I don’t contribute to my 401k as there is no match. We take the money that we would contribute to my 401k and max both of our roth iras with some left over for taxable accounts.

Might not be the most efficient, but we like the extra diversity in tax treatments.


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oneg8rh8r
LSU Fan
Port Ludlow, WA
Member since Dec 2003
2071 posts

re: Do you max your annual 401k contribution?
Yes, we were able to start maxing ours out 6 years ago, I'm now approaching 50.

We are fortunate to be able to contribute 19.5K for me with 3% matching (all roth investment) plus my Roth IRA of 6K. She no longer works a regular job but trades stocks all day and we put away her 7K into Roth IRA.

My 401K is with TransAmerica and has grown substantially relative to my input.


carlsoda
LSU Fan
B Rah
Member since Dec 2009
5695 posts

re: Do you max your annual 401k contribution?
No. Max to get employer contribution 6 or 8%. Low amount so I don’t pay attention. Real estate, AMC, and cash for remaining

I do however max out employee stock purchase. 10% @ 5% discount can’t be beat
This post was edited on 8/26 at 5:34 pm


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TD SponsorTD Fan
USA
Member since 2001
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meeple
USA Fan
Member since May 2011
7334 posts
 Online 

re: Do you max your annual 401k contribution?
Maxing 401k, 2 Roth IRAs, and an HSA

Early 30s on the 401. A little later for the other two.
This post was edited on 8/26 at 5:35 pm


Popths
LSU Fan
Baton Rouge
Member since Aug 2016
3098 posts

re: Do you max your annual 401k contribution?
I maxed out during my last 10 working years after paying off house. Even saved about 80% of take home as well after being debt free. You’re doing great.


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40
armsdealer
LSU Fan
Member since Feb 2016
3327 posts

re: Do you max your annual 401k contribution?
Max employer match then hit the ROTH. I don't have an employer provided 401k but the wife does, we max the match.


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21JumpStreet
Colorado Fan
Member since Jul 2012
12838 posts
 Online 

re: Do you max your annual 401k contribution?
I use to until I found out about bitcoin.


macatak911
New Orleans Pelicans Fan
Metairie, LA
Member since Sep 2007
11025 posts

re: Do you max your annual 401k contribution?
I have been putting some in since I started in 2013. Every year increasing more and more. Finally able to stomach the full max in 2019, 2020, and on pace for the same this year. Currently 34 so was 32 when I first did. Feels great.


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Double Oh
Louisiana
Member since Sep 2008
12833 posts

re: Do you max your annual 401k contribution?
No. But need to start putting more in for sure.


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10
bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
16038 posts

re: Do you max your annual 401k contribution?
quote:

She no longer works a regular job but trades stocks all day
Please. Tell us more…
This post was edited on 8/26 at 6:20 pm


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TigerDeBaiter
LSU Fan
Member since Dec 2010
9298 posts

re: Do you max your annual 401k contribution?
Yes. 30.


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bostitch
LSU Fan
Member since Apr 2016
298 posts

re: Do you max your annual 401k contribution?
I started at 31. Stopped at 33 because I was on an overseas assignment and couldn't contribute. Now we are back at 35 and at max again. Not that great since our employer only matches 2%.

40-60% of our comp is in stock though so we don't touch it. Combined with 401k its like saving 100k a year


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23
jimbeam
US Army Fan
University of LSU
Member since Oct 2011
73540 posts

re: Do you max your annual 401k contribution?
Not quite. I will next year at 29 for the first time. I could but I like to keep some in taxable


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