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Author Topic: Youngest to Max 401k at Work!  (Read 4279 times)

Rogue

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Youngest to Max 401k at Work!
« on: April 14, 2017, 12:22:21 PM »
As an HR Analyst too curious for my own good, I just found out that I'm the youngest person (28) in a large company to max out their 401k, and DW (33) came in at 38th (same company, different areas - I started after we got married).

Of the youngest 50 that maxed, the average salary is over 150k.  DW and I made 60k and 70k respectively.

The only sad part is that we likely won't max this year since we just had a kid and DW reduced her hours (will make 40k in 2017, plus using daycare), but I'm still glad that we had one year of maxing everything we could this early on.  There is a good chance that I could get a promotion this year, so we may get back to it sooner than we think.
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Optimiser

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Re: Youngest to Max 401k at Work!
« Reply #1 on: April 14, 2017, 12:43:31 PM »
Congrats!
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nouveauRiche

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Re: Youngest to Max 401k at Work!
« Reply #2 on: April 14, 2017, 01:49:13 PM »
Awesome.  Starting young will pay off huge.
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Civex

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Re: Youngest to Max 401k at Work!
« Reply #3 on: April 15, 2017, 05:01:53 PM »
Nice work! I would totally geek out if I could see HR info! My SO and I are roughly your age and have been really excited to watch our 401ks grow.

In my current position, the lower payed employees are actually out contributing most of the six figure ones. One of the lower paid employees is investing 10% and the other at 7% with a yearly auto increase (both make less than $40k, so I think thats awesome!) Whereas 1 of my colleagues (>130k income) isn't contributing enough to get the full 5% match, another is only contributing 6%, and I doubt my boss is maxing. 
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Gone_Hiking

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Re: Youngest to Max 401k at Work!
« Reply #4 on: April 15, 2017, 06:35:23 PM »
Awesome!
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Arktinkerer

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Re: Youngest to Max 401k at Work!
« Reply #5 on: April 19, 2017, 01:22:57 PM »
Congrats! 

I remember when I got a little ticked off at HR when they had a drawing/raffle for those who increased their 401K contribution.  I complained that those of us who had already maxed their contributions were not eligible!  Got me no sympathy whatsoever...
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GrumpyPenguin

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Re: Youngest to Max 401k at Work!
« Reply #6 on: April 21, 2017, 08:04:24 AM »
That's awesome!  Congrats.
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boarder42

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Re: Youngest to Max 401k at Work!
« Reply #7 on: April 21, 2017, 08:26:21 AM »
you make 100k and cant afford to max your 401k's at a cost of ~ 24-30k?  seems like some expenses analysis is in order.
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MoMan

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Re: Youngest to Max 401k at Work!
« Reply #8 on: April 22, 2017, 06:30:27 AM »
Quote from: Arktinkerer on April 19, 2017, 01:22:57 PM
I complained that those of us who had already maxed their contributions were not eligible!  Got me no sympathy whatsoever...

Nice! I hope you posted that to the Mustachian People Problems thread.
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texxan1

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Re: Youngest to Max 401k at Work!
« Reply #9 on: April 22, 2017, 06:43:21 AM »
I wish I had maxed out since day one.... Ive been trying to tell these young folks at work to not spend a dime and put it all away, but just like me when I was young.. they are not listening

Ive convinced one to dump 25% to 401k for 1 year, just so he can see how it makes a difference

GOOD JOB
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