Reply to Does everyone on DCUM max out retirement?

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Reply to "Does everyone on DCUM max out retirement?"

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[quote=Anonymous]I max out as my wife does not work. But to be honest even maxing out does not do that much if you are a single income household unless you are over 50 and do catch up keep it 100 percent equities and have a company with a good match.

18K at a 3 percent match is peanuts

24K at a company with a 8 percent match grows quick.

Now all equities since 2009 even faster.

I only started maxing out in 2007 as before that could not afford and had a lower income. My first job only made 19K a year and put 6 percent in and company had a 3 percent match. I only put $1,700 in that year.

Today I put 24K in and company has an 8 percent match. If you do catch up 50-65 it really helps. And My wife does not work, if two people did catch up 50-65 even if you goofed off it would be a ton.

My firm does the match on the catch up, my old firm did not. If you get a firm that matches on catch up it is great.

For example I have been in my plan 2.5 years exactly and started at zero. I am at 130K today. It took me many many many years to get to 130K in my first plan.       [/quote]

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