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Reply to "When people here say their 401ks are “maxed”…"
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[quote=Anonymous][quote=Anonymous]I agree that when most people say "maxed", they are referring to the IRS max employee limit (currently $23K). That being said, I do think many plans do allow for additional AFTER-TAX contributions, which would allow for you to get to the IRS max employee + employer limit (currently $69K). For most people though, it's NOT worthwhile to make AFTER-TAX contributions, unless the plan also allows you do either (1) automatically convert the AFTER-TAX contribution to your 401(k) Roth or (2) easily roll over the AFTER-TAX contribution to a Roth IRA.[/quote] Another thought - after "maxing out" a 401k since I started my first job, some years with good matches, I no longer want to save more than $23k per year. My 401k is already at the point where it grows more than I contribute in most years, and I don't see value in contributing after-tax money. [/quote]
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