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Reply to "How do people have massive retirement accounts if it's a $19,500 (or whatever) limit per year?"
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[quote=Anonymous]I think that some people also include after-tax brokerage accounts in their retirement calculations. We save in one because we want to have the option to use those funds for either college or retirement. Do not underestimate the power of a generous employer match and the incredible market we’ve had the last several years. I am 45 and have been maxing my 401k since I started working at a law firm at age 28. Most of that time, I had very average employer matches. But for the last six years, I’ve worked where they match 10-12%. That, combined with the market, puts me at $940k just in 401k accounts. Add in IRAs, and I’m at 1.1M. It’s just been having enough money to max, having that employer match, and having a simple set it and forget it indexing strategy.[/quote]
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