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Home › Forums › Other › How are people dumber than us going to make out with their 401(k)s? › flu wrote:svelte wrote:flu

June 5, 2012 at 1:27 PM #745066
UCGal
Participant

[quote=flu][quote=svelte][quote=flu]
Max limit on 401k is $16.5k per year if you are not self employed (IE w2 at a company)

Married couple can do that twice though.[/quote]

Actually, it is $17K in 2012, with an additional $5.5K if you are over 50, for a potential total of $22.5K

http://www.irs.gov/retirement/participant/article/0,,id=211334,00.html[/quote]

Oops.. Close enough for me… And I’m not near over 50, so I wouldn’t know about the 22.5…Sorry….[/quote]

flu – when you get closer to 50 you should be aware that you get the higher limit the year you turn 50… my birthday is later in the year – but I upped my 401k contributions at the beginning of the year I turned 50. I was saving anyway – this allowed me some tax advantage on that saving.