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Reply to "Does everyone on DCUM max out retirement?"
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[quote=Anonymous][quote=Anonymous]BTW the match out limits were much much lower years ago. In 1986 the max was $7,000 as recently as 2002 was only $11,000. In 2019 it is $19,000. So when folks say they always did max well if they graduated college in 1986 the match was only $7,000. And remember tax rates much much higher way back. In 1985 top federal tax rate was 50 percent. https://dqydj.com/historical-401k-contribution-limit/[/quote] True, but salaries were much lower too. The limit was $7,627 when I graduated from college. There was no way I was going to hit that on my $19,000 salary. I was a ten percenter until about the mid to late 1990's, but I'm in the $2 million club now.[/quote]
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