Reply to When people here say their 401ks are “maxed”…

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I assume it is the IRS maximum, which is $69K in 2024 for those under the age of 50. Anyone referencing only the employee contribution limit is being intentionally misleading in an attempt to seem like a super saver. [/quote]

That's a stupid take, and you know it.  [/quote]

No, it is the honest take. I understand that many posters on DCUM are lawyers and, therefore, possess very liberal definitions of truthfulness and integrity. However, most people understand that maxing out a 401k requires maximum employee AND maximum employer contributions. It’s no wonder there are so many tall tales in this forum. People claiming to make 7 figures, for instance, but in only a single year…the majority of which was an inheritance. Normally, they’re pulling an HHI of $400K at best. [/quote]

It’s not an honest take because it’s not a possibility for most working people, including many people with above-average incomes.

I don’t think people are outright lying about their incomes either like you do. Many companies compensate with some form of equity and that can be irregular or illiquid but it doesn’t make it not real.[/quote]

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