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Reply to "Does everyone on DCUM max out retirement?"
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[quote=Anonymous]This idea of maxing out your 401k is ridiculous. If you are making 500k a year, maxing out the 401k means you are saving 3.8% of your salary in your 401k. Despite saving 19k a year, that is likely no where near enough and they will need other retirement investments. If you have a combined HHI of 180k, putting 38k into the 401k would be 21%, which is very good. Currently the OP is putting 15% (28/180) which is probably pretty close to what they will need depending on their other expenses and past history and retirement plans. The OP also has a pension and maybe has an employer match. This would make 28k a very nice savings rate and maxing out way too much.[/quote]
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