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re: Do you max your annual 401k contribution?
Posted on 8/26/21 at 7:40 pm to Brobocop
Posted on 8/26/21 at 7:40 pm to Brobocop
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.
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.
1
Posted on 8/26/21 at 8:32 pm to Brobocop
(no message)
This post was edited on 1/1/22 at 12:35 pm
Posted on 8/26/21 at 8:35 pm to Turf Taint
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.
I don’t want to completely sacrifice today for tomorrow. Live and enjoy my labor while I’m still young.
Posted on 8/26/21 at 9:24 pm to Brobocop
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.
Posted on 8/26/21 at 9:52 pm to Brobocop
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.
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.
Posted on 8/26/21 at 10:15 pm to Brobocop
(no message)
This post was edited on 8/27/21 at 9:25 am
Posted on 8/26/21 at 10:22 pm to JayDeerTay84
WTF in the actual shite are you talking about
Posted on 8/26/21 at 10:39 pm to Brobocop
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 8/31/21 at 6:56 am
Posted on 8/27/21 at 7:43 am to Brobocop
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.
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 8/27/21 at 7:44 am
Posted on 8/27/21 at 7:47 am to Brobocop
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).
Posted on 8/27/21 at 8:01 am to Jor Jor The Dinosaur
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.
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.
Posted on 8/27/21 at 8:24 am to Brobocop
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.
Posted on 8/27/21 at 10:04 am to Brobocop
Yes, I max an SEP IRA. $58k max is steep but I want the future security blanket.
Posted on 8/27/21 at 10:13 am to hottub
quote:
Max out pre tax and the after tax.
What does this mean?
Posted on 8/27/21 at 10:17 am to thunderbird1100
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.
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.
Posted on 8/27/21 at 10:28 am to CorkRockingham
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.
Posted on 8/27/21 at 11:10 am to Brobocop
Didn't start maxing as early as I should have...but somewhere in my late 30s.
Posted on 8/27/21 at 11:20 am to Brobocop
Max 401k (TSP) and 2x Roths.
Maxed starting ~27.
Maxed starting ~27.
Posted on 8/27/21 at 12:16 pm to Brobocop
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.
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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