Reply to Super-savers in 401(k) - what are your retirement plans?

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Reply to "Super-savers in 401(k) - what are your retirement plans?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Pretty sure PPP means they started at a salary of $60k ~20 years ago, since they were expressing contributions as a percentage of income.[/quote]

Okay. Well, that makes this tall tale of having $2M in an retirement account by the age of 40 even more far fetched. [/quote]

They said they contributed post-tax. Which doesn't fall into maximums (though I don't know why someone would do it, I guess except for asset protection).  Also they have an employer that contributes 100% up to 12% which is a VERY generous match.[/quote]

No, no, no!! See: https://www.cnbc.com/amp/2022/02/15/this-401k-option-can-be-a-game-changer-for-big-savers.html

[i]Although the 401(k) deferral limit for 2022 is $20,500 if you're under 50, [b]you can use after-tax contributions to save [u]up to $61,000[/u], including employer matches[/b], profit sharing and other plan deposits.[/i]

Clearly, we don’t really have a bunch of big savers on DCUM, else we would all be intimately familiar with these limits.

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