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Reply to "How do people have massive retirement accounts if it's a $19,500 (or whatever) limit per year?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]At a less than 200k income: DW’s 403b: 19.5k per year DH’s 403b: 19.5k per year ROTH IRA for both: 12k per year DH’s 457: 19.5k per year Plus matches, 3% and 7%. This comes to saving at least 70k per year, which adds up big time.[/quote] Does the match allow you to exceed the maximum? Someone needs to tell us that. [/quote] Yes; You + Match can equal up to 50K. So I get 19.5+18 (10% of base) = 37.5/year. My spouse is similar. My spouse gets 30K/year this way. 12 K in backdoor roths 7K in HSA So we net out about 85K in tax-sheltered/deferred savings. Seems pretty typical where I work, the Fidelity person i met with says he sees this situation pretty regularly at my workplace. (Higher Ed/Healthcare in the DMV) [/quote] I have a 457 but I think they aren't that common so OP should factor that in if she doesn't have that option.[/quote]
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