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Reply to "Do you make $400,000 a year but feel broke?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]But they are luxuries, especially when you are saving to the tune of 100k per year.[/quote] How is a family funding two 401ks and $24k of 529 saving 100k? I'm assuming this poster is referring to 401ks with a $17,500 limit, not self-employment plans.[/quote] The total value of his savings, including 401ks and 529s = 100k.[/quote] The poster will have to clarify, as they stated "max out 401ks, and contribute 24k/yr to 529s, but that's really it". I'm interpreting that as $17,500 + $17,500 + $24,000. Good savings, but a far cry from $100k.[/quote] this is correct. I think that's what's wrong with this society. So many people see maxing out 401 and 529 as luxuries and not necessities! Heck, I don't think maxing out 401k is enough at 17.5k a year. [/quote]
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