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Reply to "Families of five, making under 150k, share your budget"
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[quote=Anonymous][quote=Anonymous] Nice budget. You can afford a nice quality of life (healthy travel and leisure budget) while still saving $36000 for retirement. Curious about whether you are allowed to save that much in retirement accounts. I thought the max was $18500 for 401k and $6000 for an IRA[/quote] You are allowed to save as much as you want into a 401k. But you only get a tax benefit on $18500.[/quote]
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