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Reply to "Not maxing out 401k, even though high income"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don’t max out my 401k. I only contribute up to the employer match. The tax advantage of 401ks is overrated. Most plans don’t let you invest in individual stocks. That’s a massive opportunity cost. My brokerage account has grown much faster than my 401k. I’m still coming way ahead after taxes. I understand most people don’t have the same risk tolerance. I have been doing this for 15 years and feel very comfortable. [/quote] Also most people don't have the time or interest in learning to pick stocks. Majority are better using good mutual funds than trying to beat them. Most smart financial advisors recommend mostly mutual funds because fact is most cannot consistently beat the market with individual picks. [/quote] Of course, this strategy is not for most people. That’s why most people don’t become multimillionaires. [/quote]
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