A lot of people on here say they are “maxing out” their 401k. What do they mean by that?
Do they mean to say they are contributing a sufficient amount to take full advantage of a company match?
Or do they truly mean they are hitting the IRS annual contribution limit of $18,500? That would mean for someone making $100,000, they contribute 18.5% of their paycheck to their 401k.
I don’t expect to be able to truly max out my 401k at $18,500 per year for another 5-10 years or so. So when I hear people say they are maxing theirs out, it makes me nervous that I might be doing something wrong.
Submitted July 25, 2018 at 08:19AM by Ablify https://ift.tt/2LyLRtn
