Related Posts
Is Life Insurance a scam?
Why or why not?
Anyone joining amex on 27th oct?
More Posts
Yay! Another running group!! Hi!
Additional Posts in Personal Investment Chatter
Is BRK-B a buy right now?
Best investment book recommendations?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Pro
Most mean the $19.5, because not every plan offers after tax contributions
And don’t worry about being behind - just the fact you’re hitting the 19.5 puts you waayyyyy ahead of the vast majority of people. The ones on this board who max the 56 are outliers who make an absurd amount of money
Whoever is putting 56K a year in a 401K should probably retire in the next 5 years. That is not normal. 19.5K a year is extremely ambitious in my opinion as well. I aim for 10-15% of my gross income in retirement accounts (usually contribute to 401K up to employer match and then put the rest in Roth IRA). Right now I’m closer to 10% because money is a bit tighter with my husband’s recent unemployment.
Might be a dumb question but How can you put $56k/year ?
Also profit sharing (which we have at BCG) contributes to a 56k max.