Reply to Not maxing out 401k, even though high income

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]DH is high income (over 500k) but not financially savvy. He said and I believe he thought he was maxing his 401k, but was only putting in 5000 for most of the last 20 years. I’m so disappointed. There’s no recourse for this, right? He wasn’t sharing his 401k balance with me, and I was surprised to hear how low it was. [/quote]

The good news is that you are rich enough that this isn’t a huge problem.

But if it were me and I discovered this, I would start doing the taxes and handling the household investments. Clearly your husband is an idiot, albeit a highly remunerated one. What does he do?[/quote]

Yes, I want to know what he does too.

I don't even believe that people like this exist.  Unless he is like a professional athlete, where there is no correlation between intelligence and income, $500K is such a high salary that it seems unbelievable that he would think $5K was the maximum allowed in a 401(k) and, more generally, be so oblivious and uninterested in how to keep his family going if/when his 1%er salary goes away.[/quote]

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