How much are you contributing to your 401k?

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8%

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50% - That’s the max contribution that my company allows and I want to max it out ASAP

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Maxing out

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Max it out. I find that any methods to tuck my money away where I won’t touch it, 401k, stock comp, passive managed portfolio, etc. work well for me.

smart

When I first started, I made sure I put in at least the company match percentage (6%). Then I increased it 2% every year and started hitting max around 10%.

I’m now in a financial position to increase it to 50% (highest company allows). So that I max my contribution as soon as possible (usually happens once bonus hits in Feb / March).

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You should max it out every year once your total compensation surpasses ~100k. The power of compounding is most impactful when you are young, and 401k tax advantages makes it incredibly powerful.

smart

Don’t forget to max out the IRAs too

Max

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