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Re:Panic at the Job Market by kristjansson on Wednesday July 17, 2024 @05:05PM (#40990354)
> If nothing else you’ll have invested 600k into your 401k

10 * ~20k (individual max contribution, rough avg.) * 1.5 (1:0.5 match) = ~300k?

Re:Panic at the Job Market by forrestthewoods on Wednesday July 17, 2024 @05:29PM (#40990531)
FANG 401k plans all support the Mega Backdoor Roth IRA. Which every single elgible employee should be maxing out.

The pre-tax 401k limit is ~$23,000. But you can put in another ~$46,000 post-tax. (Limits go up a little each year). High end 401k plans allow this post-tax contribution to be instantly auto-converted into a Roth IRA that grows tax free.

It's maybe a little hard to max out at L3. But every L4+ SWE should be maxing it out. Do this for 10 years and you'll actually have tucked away $700,000 plus growth. Assuming you're a couple of decades away from retirement this will compound and grow into millions of dollars for retirement.

https://www.nerdwallet.com/article/investing/mega-backdoor-r...

Re:Panic at the Job Market by loeg on Thursday July 18, 2024 @11:49AM (#40996829)
It's "Mega Backdoor Roth" -- no "IRA." It's in your 401k, not an IRA plan. This is wholly distinct from the "backdoor Roth IRA" contributions which also have backdoor and Roth in the name.