Newbie question here inspired by posters who assume millions in the 401(k)/Roth accounts: for those of us that don't have our own business, what options do we have to get more money into tax-advantaged accounts beyond:
(1) ~16.5k/year limit in 401(k)
(2) ~5k/year IRA
(3) catch up contribution to above if you are older than certain age
(4) I heard some companies offer non-qualified contributions to 401(k) after the initial 16.5k limit, but apparently many companies don't.
At ~20k/year rate, it seems like a long time to accumulate a million or two in the account, unless your rate of return is high.
What are some other ways? Am I missing some obvious ones?
Thanks!
(1) ~16.5k/year limit in 401(k)
(2) ~5k/year IRA
(3) catch up contribution to above if you are older than certain age
(4) I heard some companies offer non-qualified contributions to 401(k) after the initial 16.5k limit, but apparently many companies don't.
At ~20k/year rate, it seems like a long time to accumulate a million or two in the account, unless your rate of return is high.
What are some other ways? Am I missing some obvious ones?
Thanks!