3 of 5
Max out contributions
Katz started making the maximum 401(k) contribution allowed by the government when he was 35.
- Name: Ed Katz
- Age: 64
- City: Mesa, Ariz.
- Saved: More than $1.5 million
Ed Katz has maxed out his annual 401(k) contributions for nearly three decades.
While Katz, a software engineer, has had a six-figure salary since the late 1990s, he first started making the maximum contributions at the age of 35 when the federally allowed limit represented "well over" 15% of his salary.
"[I] said, 'Why wouldn't I do this? You just learn to live on less," said Katz. "I would do more if the government would let me."
He, too, sticks index funds, the majority of which are in equities.
- Last updated November 11 2013 10:29 PM ET
