Reply to I Live Comfortably on Less than $70K After-Tax in DC Area

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[quote=Anonymous][quote=Anonymous]OP here. You few posters above are missing the point entirely.

I started the thread to combat all these DCUMers who go on and on about how $200k for families and $100k for singles is barely middle class. I acknowledge that I'm comfortable - very comfortable, in fact.  I was trying to show - and some of you got it, but clearly some did not - that the incomes I just named are affluent. Yet, thread after thread, we have DCUMers saying that $300,000 is just a regular lifestyle and $88,000 qualifies for subsidies. We even had some guy in another thread yesterday say that people with a net income of $4 million are not well off - and that it takes $10m and a $1m income. Crazy.

As far as the advice to max out my retirement, I am very close to doing that. My employer matches up to 10% of our income, and I have been contributing 9% (with a 9% match for a total of 18%). I think that's more than adequate - and more than financial advisors suggest, which is 15%. But you are probably giving me good advice, and I can up my contribution to the full 10%. I can change it on Monday, and I will.

Anyway, I'm done. It's a beautiful day....enjoy it.
[/quote]

FYI, "maxing out" retirement savings doesn't mean contributing enough to get the employer match. It is literally crazy not to contribute enough to your 401k to get the full employer match. Maxing out means contributing enough to meet the federal limits for 401k contribution- 18000 per year in 2017. And another FYI, your employer contributions don't count against that 18000 limit so you aren't even close to maxing out. [/quote]

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