In 2019 Sandra (53 years old) is an employee of a company which provides a 401(k) plan for all its employees. The company contributes two dollars for every dollar the employee contributes and will contribute a maximum of 8% of the employees salary (if the employee contributes 4% of salary and contribution limitation has not been met yet).

Sandras salary is $100,000 and she wants to maximize the contributions to her 401(k) account while also maximizing the employer match portion. How much should Maggie contribute to her 401(k) account?

Assume instead that Sandras salary is $600,000. How much should Sandra contribute to her 401(k) account?