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Turf Taint
LSU Fan
New Orleans
Member since Jun 2021
1739 posts

re: Do you max your annual 401k contribution?
Well done! Most important is that you invest as much as you can for as long as you can starting as soon as you can.

If you don't think financial independence is possible, think again. Time value of money! And I truly believe time is most important part of (1 + k)^n is time. Invest early and often; next thing you know you will have full control of your time. And that is a thing of beauty!

Best of luck.



tigersfan1989
USA Fan
Cleveland
Member since Oct 2018
1058 posts

re: Do you max your annual 401k contribution?
I first maxed at 29. These days I’ll hit the 19500 pretax limit and usually have 5-10k in additional contributions that are after tax contributions.
This post was edited on 8/26 at 8:38 pm


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11
LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
3037 posts

re: Do you max your annual 401k contribution?
I contribute as much as I can, but I don’t quite max it. I’m hoping natural pay raises and I’ll reach the max eventually. I’ve also usually had a pretty good employer contribution so that helps a lot. However, my wife doesn’t contribute anything to retirement, so maybe I’m behind the pace.

I don’t want to completely sacrifice today for tomorrow. Live and enjoy my labor while I’m still young.


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20
ned nederlander
Member since Dec 2012
1101 posts

re: Do you max your annual 401k contribution?
Wife and I both started maxing our 401ks at 30. Being able to have two 401ks frankly one of the main benefits to her continuing to work.


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60
hottub
Florida State Fan
Member since Dec 2012
2626 posts

re: Do you max your annual 401k contribution?
Max out pre tax and the after tax.

I have been able to do both for several years.

I get a sizeable employer contribution as well, which makes the post tax pretty easy to do.


JayDeerTay84
LSU Fan
Texas
Member since May 2013
8397 posts

re: Do you max your annual 401k contribution?
(no message)
This post was edited on 8/27 at 9:25 am


jimbeam
US Army Fan
University of LSU
Member since Oct 2011
74089 posts

re: Do you max your annual 401k contribution?
WTF in the actual shite are you talking about


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30
Yeti_Chaser
Member since Nov 2017
2946 posts

re: Do you max your annual 401k contribution?
I maxed my 401k Roth IRA and HSA last year. Won't get even close to there this year though
This post was edited on 8/31 at 6:56 am


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thunderbird1100
LSU Fan
GSU Eagles fan
Member since Oct 2007
62894 posts
 Online 

re: Do you max your annual 401k contribution?
Wife and I dont because we spread money over 401k, Roth IRAs, taxable accounts and HSA.

Not including any matches we put about $800/mo into 401k, $1000/mo into Roth IRA (max this out), $262.50/mo into an HSA (max this out w/ comp. cont.) and about $2,000/mo into taxable brokerage accounts.

So basically half our savings go into retirement type vessels and the other half goes into things we can pull whenever.
This post was edited on 8/27 at 7:44 am


Jor Jor The Dinosaur
LSU Fan
Chicago, IL
Member since Nov 2014
4847 posts

re: Do you max your annual 401k contribution?
I do the max contribution, started maxing it out at 30 (32 now). My fiancée started maxing it at 26 or 27 (she's in her second year of being 29 now).



Twenty 49
LSU Fan
Shreveport
Member since Jun 2014
15408 posts

re: Do you max your annual 401k contribution?
Maxed 401k since some time in the 90s, then maxed the extra catch up contributions starting at age 50+. At some point we also started maxing two Roths.

Don't make a ton of money, but save as much of it as reasonably possible. Hoping to stay healthy long enough to enjoy an early retirement.


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10
LSU
LSU Fan
Houston
Member since Oct 2003
8288 posts

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

Do you max your annual 401k contribution?


Yes, I'll actually hit the max this year on my next paycheck.

Been maxing my 401k for the last 7-8 years. Always contributed a decent percentage, but wasn't able to start maxing it until my mid-30's.


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StealthCalais11
LSU Fan
Lurker since 2007
Member since Aug 2011
12139 posts

re: Do you max your annual 401k contribution?
Yes, I max an SEP IRA. $58k max is steep but I want the future security blanket.


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10
Larry Gooseman
USA Fan
Houston
Member since Mar 2014
2501 posts

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

Max out pre tax and the after tax.


What does this mean?


fjlee90
LSU Fan
Baton Rouge
Member since Nov 2016
5895 posts

re: Do you max your annual 401k contribution?
Started maxing 401k at 28, 3 years ago. Pretty hefty company contribution of 10%.

Also HSA and ROTH. Left overs go into a taxable account.

Wife almost has hers maximized.

Plan to pay off the house this time next year. We have been fortunate.


CorkRockingham
Member since Jun 2017
383 posts

re: Do you max your annual 401k contribution?
Hot damn. Good job.


fjlee90
LSU Fan
Baton Rouge
Member since Nov 2016
5895 posts

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

Hot damn. Good job.


I can't take all the credit. I married a frugal young lady and had a 2 year assignment where I was vastly overpaid.


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10
kennypowers
Arkansas Fan
AR
Member since Mar 2009
211 posts

re: Do you max your annual 401k contribution?
Didn't start maxing as early as I should have...but somewhere in my late 30s.


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TorchtheFlyingTiger
North Carolina St. Fan
It's Germans
Member since Jan 2008
1266 posts

re: Do you max your annual 401k contribution?
Max 401k (TSP) and 2x Roths.
Maxed starting ~27.


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Bronson2017
Auburn Fan
Birmingham
Member since Feb 2019
1487 posts

re: Do you max your annual 401k contribution?
This board is magic sometimes I swear!

I was just thinking of this this morning. My wife and I do not contribute the full amount currently. Both 27 and have good stable jobs. The employers match.

What is a percentage you all recommend to contribute? I was always told to increase the percentage as raises happened or new job opportunities with salary increase.


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