alt Hacker NewsA younger person shouldn't max out their 401k unless they are rich. When you are young time works for you and so a maxed out 401k is a very large retirement in the future (which you might not even live to see!). The max is useful for older people who didn't start young.
Replies
jpadkins • today at 4:01 PM
This is bad advice. Max out 401k early. Compounding growth is how you get rich / FI. The earlier you start, the more time to compound.
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Worst advice ever. Maxing out early is like throwing a boulder down a mountain as opposed to a stone. The sooner you start the better in the long run.
What they have to avoid is cashing it out when times get hard.