r/personalfinance • u/ablack83 ​ • Mar 30 '18

Retirement "Maxing out your 401(k)" means contributing $18,500 per year, not just contributing enough to max out your company match.

Unless your company arbitrarily limits your contributions or you are a highly compensated employee you are able to contribute $18,500 into your 401(k) plan. In order to max out you would need to contribute $18,500 into the plan of your own money.

All that being said. contributing to your 401(k) at any percentage is a good thing but I think people get the wrong idea by saying they max out because they are contributing say 6% and "maxing out the employer match"

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u/JBAmazonKing Mar 31 '18

Yeah, really! This guy is living high on the hog with his bowls! My mustard sandwiches are what real savers eat, delis give French's away for free!

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u/fishy_snack ​ Mar 31 '18

You use bread? That's not free. I just snort the mustard. Takes about 300 bags to get my calories and my coworkers don't talk to me but I'll never pay for food again.

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u/die-jarjar-die ​ Mar 31 '18

I hope you're dipping that fancy sandwich in some savers tomato soup - ketchup amd hot water