Who contributes max to 401k?

[Slug]

My employer matches all of our 401k contributions, so yes, I max it without reservation.

I max but I want to work where you work. Dang. A free 15.5k each year...nice.

[texastek76]

I contribute up to the $15,500 limit and my employer matches the first 6%.

[Broken Arrow]

I max but I want to work where you work. Dang. A free 15.5k each year...nice.

Hehe, my employer only matches $0.28 to the dollar though. It's still good, but not as good what others here have....

[aida2003]

My DH maxes out to the IRS limit + 4% co. match. I will try to max out starting next year. Now I contribute around $12k + 3% co. match.
Our both RothIRA are maxed out, of course.

[illinigamer]

It should be noted if 401k has a match, and the max is reached prior to last pay period, then the match is lost for the pay periods after the max is reached.

This is not true in all cases. Our company has a 50% match plus a year end "discretionary" match to bring the match up to 6% of salary (this has been done every single year). In this sort of arrangement, even if you max before year end, you still get a full 6% eventually. I am not sure how common an a plan like this is, however.

[sweeps]

This is not true in all cases. Our company has a 50% match plus a year end "discretionary" match to bring the match up to 6% of salary (this has been done every single year). In this sort of arrangement, even if you max before year end, you still get a full 6% eventually. I am not sure how common an a plan like this is, however.

That's definitely a nice feature, but I don't think it's very common. At most companies you have to be very careful to hit the max at the end of the year.

It's kinda like The Price is Right where you need to be the closest without going over.

[KellyB]

My partner and I both max out our 401ks ($15500 each) and Roth IRAs ($5000 each). It's a lot of $$, but by "paying ourselves first" and having it automatically deducted from the paychecks, we haven't really missed it. We started around 6% and increased it year after year, we've maxed out the last 2 years and will continue to do so hopefully. Next year she'll get to start adding the additional "catch up" contribution of another $5000, so we'll have to tighten our belts again and increase her contributions to max. We'll do it, I've found that if I just make the savings automatic somehow I manage to find a way to live on the rest.

[feh]

Yes, we're contributing the dollar amount max, as well as maximums into IRAs.

[RedHotLama]

I can only put in 20% at my plan, that got me close for 2007, but i will likely have a grand to go at the end of this year that i won't be able to put in because of the 20% rule.

Then i also get an extra 3.2% match.

[Keen]

I max mine out @ $15,500 and now my new company matches 110% of my contribution so that is a $17,050 match per year.

No rules about when I hit the max @ this company...so if I wanted to do 50% of my pay for the first few months of the year and hit the max right away that is fine...

Seems like a good plan so far, its a factor in why I took this new job.

[moneybags]

I max out my Simple ($10,500) and Dh maxes out his 401K.

[Daylily]

Wow, great to see so many people are contributing the max. It inspires me to go ahead and try to do it this year even though DH is not working.

I have the option of splitting between regular and Roth 401k. Currently, my contribution is completely directed to the regular 401k. When I up to the max, I think I might do the Roth for the rest of my contribution.

[Tree0164]

My husband contributes 15% and that works out to be 14-15k each year depending. I also contribute to a ROTH IRA

[DebbieL]

Wow, your rules are sure different in the US. You would be allowed to contribute up to $15,500 even if you only make $31,000? Here in Canada we are limited to 18% of our income up to a maximum of $20,000 (this year). A person earning only $31,000 couldn't contribute more than $5,580 for that year (unless they have unused contribution room from previous years).

[sweeps]

Debbie, that got me thinking... Contributing to a pre-tax savings plan must be a slam dunk in Canada with taxes being so high. I'm assuming a post-tax plan like a Roth IRA wouldn't be very popular in Canada?