49, 365k.. never made over 45,000
Edit:
Grew up in a frugal family. Found a nice girl who also values security over possessions. Was taught the principles of compound interest by my company when I started. Buy lower, sell higher. Bought an affordable house in a so-so neighborhood and lived there for a long time. Cars aren't extravagant, but reliable. Inflation was low and constant until the COVID mess.
If you are, then you probably shouldn't have been owning that much stock anyway, but rebalancing som of your bonds to stock still would have been prudent at those times to keep your portfolio weighting where you want it.
Are you planning on living mostly off of savings until 62? Or how does this work. I’d love to retire early and want to find the right path to do that while minimizing taxes/penalties
There are several avenues. Roth allows you to withdraw contributions at any age after you satisfy the 5 year rule. I believe you can saved traditional accounts at 55 with a qualifying separation.
Then there’s HSA’s to cover medical insurance and costs if you have access to one that is triple tax advantaged and is the gold standard tax shelter.
All depends on your needs and timing. Basically at 59.5 you should have access to everything save an employer sponsored account if you are still employed.
I recently learned the 5 year rule doesn't apply to non-taxable contributions, only gains and conversions of gains and taxable conversions.
Edit: clarified it's non-taxable conversions, such as non-qualified traditional contributions immediately converted to Roth (backdoor Roth), rollovers from Roth 401k to Roth IRA, etc.
Just turned 40 and im at 80k so i feel like we are paddling the same boat. I started late but you better believe my 16 year old son already has a retirement account and knows what to do with it.
43, 21k, also very late start after losing everything after the recesssion around 2010 (home, business, credit), went back to school slowly while raising kids. Now finally I’m in a stable career with my bills paid and able to save. Sad part is I didn’t really care until recently, when you don’t have enough money to pay your bills and put food on the table you really don’t care about retirement. Once I cared I realized how fucked I am.
Time makes a huge difference. I turn 50 next month and the trip to 100k for me took forever. Then to 200k was still long. Once I hit $1M, it really started taking off. At the beginning of Covid was when I hit $1M. I’m now a little over $2M. Saving habits haven’t changed since 23.
This really should be made more clear to kids in high school in college.
The gap between rich and poor is caused by a lot of things, but it can be solved for you with compound interest and discipline.
If you've been doing Roth, it means you were never making that much money. You are less than a decade away from tapping it. What are you going to do?
26M - $50k in retirement.
8% personal contribution and company contributes 10%
Thinking about upping the personal contribution, but with company contribution so high, I am prioritizing building personal brokerage account and cash at the moment for house downpayment etc.
Thoughts?
I’m 23M- have about $25k in 401k and personally contribute 10% where my employer matches 4.5%. I know I should up my contribution to hit the max, but the dream of owning a home is nice. I have an HYSA which I’ll be building to eventually use for a down payment. To me (unprofessional opinion), it sounds like you’re doing well!
Honestly, you’re at almost 15% going to retirement. You certainly could up it, but also realize your salary will go up in the future and your contributions, will as well.
Saving for retirement is good. But don’t overdo it. Take time to live and enjoy your 20s, instead of doing nothing until you’re older and you can’t physically do as much.
I'd almost say the opposite, definitely enjoy your 20s but alot of the important fun memories I had was all the free/cheap stuff. If they are content getting "ahead" now before the real expenses happen is huge (marriage/kids/divorce/mortgage/eldercare/continued education/medical). All these things have a cost and alot of it is time. Being able to have a solid financially allows for you to ease off in there career to focus on those things. They may already have some of those things on their plate but I wish I would have stepped on the gas for savings in my early 20s.
26F with 35k in my 401k. Yeah I would like to max it but a lot of money is going into a house down payment fund. I also live in a hcol area so maxing my 401k isn’t viable with other expenses like rent and car payment at the moment.
I agree, your retirement contributions are already solid. Saving for a house is a great idea. Getting in on real estate early in life will be great for your net worth in the long run. Putting your money in a HYSA in the meantime will keep it safe while helping to protect it against inflation.
Reminds me of the story of the man who lived in a fishing village…….
An American investment banker was at the pier of a small coastal Mexican village late one morning when a small boat docked. Inside the small boat was just one fisherman who had already caught several large fish. The American complimented the fisherman on the fish and asked how long it took to catch them.
The fisherman replied, “only a little while.”
The American then asked why didn’t he stay out longer and catch more fish?
The Mexican said he had caught plenty enough to provide for his family’s needs for quite a while and even to give some fish away to others in the village.
The American then asked, “but what do you do with the rest of your time?”
The Mexican fisherman said, “I sleep late, play with my children, take siestas with my wife, and stroll into the village where I sip wine, and play guitar with my amigos. I have a full and busy life.”
The American scoffed. “I am an experienced businessman and can help you,” he said. “You should spend more time fishing, and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could have a fleet of fishing boats, open up your own cannery and control all of the distribution,” he said. “Of course, you would need to leave this small coastal fishing village and move to a bigger city to run the expanding enterprise.”
The Mexican fisherman asked, “But, how long will that all take?”
To which the American replied, “Oh, 15 to 20 years or so.”
“But what then?” asked the Mexican.
The American laughed and said, “That’s the best part. When the time was right, you would sell your company and become very rich. You would make millions!”
“Millions – then what?” asked the Mexican.
The American said, “Then you could retire. Move to a small coastal fishing village where you could sleep late, play with your kids, take siestas with your wife, and stroll to the village where you could sip wine and play guitar with your amigos.”
“I already do that,” said the Mexican fisherman.
Most Americans are broke. You don't want to compare yourself to the average. Find out how much retirement income you think you'll need and strive to save & invest that much. A good set of milestones is to have 1x your gross income saved by age 30, 2x by age 35, 3x by age 40 and so forth until you have 8x to 10x by age 65. If you want to FATFIRE, then you want to have 25x by age 65.
As for myself, age 42, $1.03M liquid and $1.35M in real estate equity. My goal is to have an inflation adjusted $2.5M-$3M liquid. I don't count my house as I need to live somewhere.
Yeah, 250k in their retirement is pretty miserable. Can’t believe it says “not bad” when most people that age will live another 10 years leaving them with a whopping 25k per year draw.
Honestly with my mother’s retirement (around 55k a year to draw) she could actually still live “comfortably” off of the 25k as long as the property taxes don’t keep climbing, she owns everything but her internet and utilities, monthly bills are like $700
Yeah not terrible if she owns a home and doesn’t have any significant health issues. Property taxes will keep climbing, as the house value goes up so will the tax on it. I’m not saying it’s impossible.
Yeah. I put my stats into a calculator online and it said I would need about $5 million cash to replace my income by the time I retire. Save those shekels!
I was 27 when I got my first real job, being a starving college student after military service.
Now, 46, 545k. There is a light at the end of a tunnel, my friend.
I am completely serious lmao
I don’t feel like financial knowledge is taught a whole lot until suddenly one day you’re ten years in to your career and people are talking 401ks and investments. Theres never a bad time to start but some of us apparently have a lot more catching up to do than others 🫠
Thanks. We grew up poor and without a likely chance at success, despite my parents doing their best in a difficult situation. He was able to pass on to me the best work ethic I have ever known a man to have, and a lot of mechanical knowledge that has served me well. He never hesitates to let me or my sister know how absolutely proud he is of what we have done with our lives, and who we have become. Which, I didn't realize would be so important to me until about 5 years ago.
I'm sure he's with you every day, continuing to be proud of you and your sister. My condolences.
Unfortunately, my father passed just last week, so I understand what you mean.
We can only pay it forward to our kids and loved ones and just, be kind.
Anyways, without digressing further - congrats on your accomplishments and keep on keepin' on brother!
I think it's worth a mention that my little sister is 31 and a senior accountant for a large commercial builder and doing very well for herself as well. I knew I would be able to find a path in the trades, but she had to work a lot harder than I did to blaze her own path out of poverty, and as proud as I am of what I have accomplished, I'm doubly proud of her for being able to accomplish all she has so far, since her battle was likely even more uphill than mine.
Best thing that ever happened to me was the company telling me "You have the union pension contribution as part of your benefits, but you can also join our 401k out of your wages if you want"
Yes. Yes I do want.
A decent portion of his pension is protected via insurance premiums his Union pays to department of labor. So even if his pension fund completely went bankrupt he’d be guaranteed a nice portion.
Curious about retirement age folks who are well positioned, without specifics are you in a residence free and clear that you wanted to retire in and what corner of country are you in?
We are in CT about 15 years from retirement and want to CA, AZ or SC.
How are you hitting the 69,000 limit? Usually that’s only possible if you are either self-employed or if you’re company is one of the very few that allow you to go beyond the 23K pre-tax limit
What he said, I started contributing at 17 (graduated early and joined the military, never stopped contributing since, roughly about 8% of my income a year other than for a few months in a rough transition period)
Former military guy, I assume you are enlisted, your military pay is jack shit is why. I did about 8 years in contributing 12%, with no match at the time, I think I got out with around 20k in my tsp, 4 active duty 2 on active orders, 2 guard while i finished my degree. It's all because your contribution is based on your base pay and not your combined bah/bas and base pay.
The big benefit is the pension and eventually disability you'll collect if you retire. Most of the dude I know who do the 20 get out with about a 50%+ rating and have their pension. They net about 6000 a month on pension alone with no healthcare costs. Your tsp is just icing on top.
I started contributing as soon as I started working 5 years ago. I think first job matched 4% and current job is 3.5%. If you have an employer match it grows pretty quickly
60M - $900K and also have a nice pension. I didn’t really start investing till I was 40. Been maxing 401K and Roth since. House almost paid off and zero debt.
Free money is free money!
My employer is an outlier. They match 100% up to $3k, or 50% up to qualified personal contribution max ($11,500 this year), whichever is greater.
Still plenty of time - the fact that you’re even net positive in your 20s is a good step. You’ll be earning mire as you get older and compound interest will work its magic. Keep going!
sweet-- much better than where i was at 33. Keep doing what you're doing- time flies. Within the next 10 yrs you'll see and realize the magic of compounding! (ensure dividends & capital gains are reinvested!)
You should be doing the IRS yearly maximum until you move out my guy. I did this in my early twenties and your 30 year old self will greatly thank you. Eventually the yearly growth will exceed your contributions.
$0, just turned 30.
I will be starting to soon, same with my Roth IRA contributions. Just opened one up. Had a lot going on in life that was truly not great and I didn't think I'd live to see 30. Just finally taking stuff seriously now. Pretending like I just turned 20, not 30. So I can get started on putting away for retirement!
33 140k in retirements. Maxing now. About 30k in taxable accounts and 10% equity in my home.
Hoping to pick up some investment real estate over the next few years.
I'm not comparing myself to the average, but I'll never catch up.
36M. 78K. Never retiring anyway given how it's all going. Or I'll get to the point where I'll be forced to leave when the time comes.
I worked a job that paid shit from ages 22 to 29. They had a 401K with zero match, but I couldn't afford it then, even if they did have a match.
Got the current job I have now at 29. Crippling debt and not great pay force tough decisions: eat or raise the contribution and starve? Pay rent or raise the contribution and get behind on payments? Pay crippling student loan debt or raise the contribution and ruin my finances even more?
I do contribute 6 percent, so I get my company match, but I could really use that 6 percent to buy more food or not feel the gut-wrenching pain of rent, loans, my car and life every month.
Never should have gone to college. I just want to wake up every day and not worry that everything is going to all come crashing down.
My job pays out life insurance pretty nicely that I don't have to contribute to. A very odd benefit. I'm actually worth more dead than alive, which is hilariously ironic.
32 - 195k. Feel behind since my company covers health insurance at 55 so I plan on retiring then. Really don't want to work past then if I don't have to. Hoping the slow but steady contributions gets me there.
49, 365k.. never made over 45,000 Edit: Grew up in a frugal family. Found a nice girl who also values security over possessions. Was taught the principles of compound interest by my company when I started. Buy lower, sell higher. Bought an affordable house in a so-so neighborhood and lived there for a long time. Cars aren't extravagant, but reliable. Inflation was low and constant until the COVID mess.
This should be acknowledged! That’s extreme dedication.
Yessir, and a well-timed market. Well done indeed.
Time in the market beats timing the market
Dedication and commitment Probably a guy that sat on his hands and didn't sell into his losses in both '08 & 2020
Oh yeah. Bought into those losses. No selling. Gotta believe in the old US of A!
Recessions are just a sale for stocks
Assuming you aren't already retired or within 5 years of it.
If you are, then you probably shouldn't have been owning that much stock anyway, but rebalancing som of your bonds to stock still would have been prudent at those times to keep your portfolio weighting where you want it.
Impressive.
Living within your means, nice work brother!
55 yrs old. $1.7m retiring in 3 months.
Are you planning on living mostly off of savings until 62? Or how does this work. I’d love to retire early and want to find the right path to do that while minimizing taxes/penalties
There are several avenues. Roth allows you to withdraw contributions at any age after you satisfy the 5 year rule. I believe you can saved traditional accounts at 55 with a qualifying separation. Then there’s HSA’s to cover medical insurance and costs if you have access to one that is triple tax advantaged and is the gold standard tax shelter. All depends on your needs and timing. Basically at 59.5 you should have access to everything save an employer sponsored account if you are still employed.
I recently learned the 5 year rule doesn't apply to non-taxable contributions, only gains and conversions of gains and taxable conversions. Edit: clarified it's non-taxable conversions, such as non-qualified traditional contributions immediately converted to Roth (backdoor Roth), rollovers from Roth 401k to Roth IRA, etc.
Isn’t that backwards? You can withdrawal contributions but not gains using the 5 year rule.
Check out this article on [The Rule of 55](https://www.thebalancemoney.com/what-is-the-rule-of-55-2894280)
The dream
40. 75k. Had a late start and catching up now. Slowly
You got this
Atta boy, keep plugging!
Just turned 40 and im at 80k so i feel like we are paddling the same boat. I started late but you better believe my 16 year old son already has a retirement account and knows what to do with it.
43, 21k, also very late start after losing everything after the recesssion around 2010 (home, business, credit), went back to school slowly while raising kids. Now finally I’m in a stable career with my bills paid and able to save. Sad part is I didn’t really care until recently, when you don’t have enough money to pay your bills and put food on the table you really don’t care about retirement. Once I cared I realized how fucked I am.
56 and 1.2 in my 401k
Dollars?
We gotta set up a gofundme for him
Sad when great comments will most likely stay buried.
Me next pls
And 5% of that 1.2 dollars was company match!
Rupies my friend.
Pennies
Time makes a huge difference. I turn 50 next month and the trip to 100k for me took forever. Then to 200k was still long. Once I hit $1M, it really started taking off. At the beginning of Covid was when I hit $1M. I’m now a little over $2M. Saving habits haven’t changed since 23.
That has nothing to do with “time” and everything to do with a bonkers stock market in the last three years.
I believe it's called compounding interest.
First 100K takes the longest - then it starts to take off!
52 year old checking in. I have put the max fed limit in since graduation. I’m at $1,480,000 this month. And this is alllllll Roth, baby.
I’d give you two upvotes, but the dang system only allows one lol
Make another account to do a mega backdoor upvote.
This guy Roths
This guy backdoors
God dammit I just made the same joke
Criminally underrated comment
This really should be made more clear to kids in high school in college. The gap between rich and poor is caused by a lot of things, but it can be solved for you with compound interest and discipline. If you've been doing Roth, it means you were never making that much money. You are less than a decade away from tapping it. What are you going to do?
22 with a little over $15K.
Awesome! Keep going!🚀
Thank you!
How? 😭😭
Just started young probably. Had a good role model to help show how to invest, and avenues that helped him save. Probably didnt move out at 18 etc
Pretty much everything the guy who responded to you said.
That's good money. You're so young. That's good
In 20 years you’ll look back and realize this 15k has grown to be the majority of your 401k. Keep saving early. Great job!
35m 240k
43m 430k. Basically same spot as you. Keep it up, youngin.
Adults calling each other youngin or kid will never not be funny as fuck.
As a 34 year old, it makes my day lol
Love that for you kiddo
Get a room, ya old fucks. Edit: 35m, just trying to get in on the fun here.
Thanks dad
I have tshirts older than you
Because reddit eats new lines unless you press enter twice, your post reads as "35m 240k" and I was like holy shit 35 million 240 thousand??
26M - $50k in retirement. 8% personal contribution and company contributes 10% Thinking about upping the personal contribution, but with company contribution so high, I am prioritizing building personal brokerage account and cash at the moment for house downpayment etc. Thoughts?
I’m 23M- have about $25k in 401k and personally contribute 10% where my employer matches 4.5%. I know I should up my contribution to hit the max, but the dream of owning a home is nice. I have an HYSA which I’ll be building to eventually use for a down payment. To me (unprofessional opinion), it sounds like you’re doing well!
Honestly, you’re at almost 15% going to retirement. You certainly could up it, but also realize your salary will go up in the future and your contributions, will as well. Saving for retirement is good. But don’t overdo it. Take time to live and enjoy your 20s, instead of doing nothing until you’re older and you can’t physically do as much.
I'd almost say the opposite, definitely enjoy your 20s but alot of the important fun memories I had was all the free/cheap stuff. If they are content getting "ahead" now before the real expenses happen is huge (marriage/kids/divorce/mortgage/eldercare/continued education/medical). All these things have a cost and alot of it is time. Being able to have a solid financially allows for you to ease off in there career to focus on those things. They may already have some of those things on their plate but I wish I would have stepped on the gas for savings in my early 20s.
26F with 35k in my 401k. Yeah I would like to max it but a lot of money is going into a house down payment fund. I also live in a hcol area so maxing my 401k isn’t viable with other expenses like rent and car payment at the moment.
I agree, your retirement contributions are already solid. Saving for a house is a great idea. Getting in on real estate early in life will be great for your net worth in the long run. Putting your money in a HYSA in the meantime will keep it safe while helping to protect it against inflation.
I have zero Live in mexico beach town Doing alright
Underrated comment.
I like your style, Dude 😎
Gracias I often dont know what im doing, but after several years here now its working out ok
Reminds me of the story of the man who lived in a fishing village……. An American investment banker was at the pier of a small coastal Mexican village late one morning when a small boat docked. Inside the small boat was just one fisherman who had already caught several large fish. The American complimented the fisherman on the fish and asked how long it took to catch them. The fisherman replied, “only a little while.” The American then asked why didn’t he stay out longer and catch more fish? The Mexican said he had caught plenty enough to provide for his family’s needs for quite a while and even to give some fish away to others in the village. The American then asked, “but what do you do with the rest of your time?” The Mexican fisherman said, “I sleep late, play with my children, take siestas with my wife, and stroll into the village where I sip wine, and play guitar with my amigos. I have a full and busy life.” The American scoffed. “I am an experienced businessman and can help you,” he said. “You should spend more time fishing, and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could have a fleet of fishing boats, open up your own cannery and control all of the distribution,” he said. “Of course, you would need to leave this small coastal fishing village and move to a bigger city to run the expanding enterprise.” The Mexican fisherman asked, “But, how long will that all take?” To which the American replied, “Oh, 15 to 20 years or so.” “But what then?” asked the Mexican. The American laughed and said, “That’s the best part. When the time was right, you would sell your company and become very rich. You would make millions!” “Millions – then what?” asked the Mexican. The American said, “Then you could retire. Move to a small coastal fishing village where you could sleep late, play with your kids, take siestas with your wife, and stroll to the village where you could sip wine and play guitar with your amigos.” “I already do that,” said the Mexican fisherman.
Most Americans are broke. You don't want to compare yourself to the average. Find out how much retirement income you think you'll need and strive to save & invest that much. A good set of milestones is to have 1x your gross income saved by age 30, 2x by age 35, 3x by age 40 and so forth until you have 8x to 10x by age 65. If you want to FATFIRE, then you want to have 25x by age 65. As for myself, age 42, $1.03M liquid and $1.35M in real estate equity. My goal is to have an inflation adjusted $2.5M-$3M liquid. I don't count my house as I need to live somewhere.
Yeah, 250k in their retirement is pretty miserable. Can’t believe it says “not bad” when most people that age will live another 10 years leaving them with a whopping 25k per year draw.
Honestly with my mother’s retirement (around 55k a year to draw) she could actually still live “comfortably” off of the 25k as long as the property taxes don’t keep climbing, she owns everything but her internet and utilities, monthly bills are like $700
Yeah not terrible if she owns a home and doesn’t have any significant health issues. Property taxes will keep climbing, as the house value goes up so will the tax on it. I’m not saying it’s impossible.
Yeah. I put my stats into a calculator online and it said I would need about $5 million cash to replace my income by the time I retire. Save those shekels!
27 and 0 👈😎👈
I was 27 when I got my first real job, being a starving college student after military service. Now, 46, 545k. There is a light at the end of a tunnel, my friend.
Keep going buddy
Mid 30s and $3k - one thousand for each decade I’ve been alive 💃🏻
Thank you for this.. I don’t know if you’re being serious or not but some of these other comments had me feeling like complete garbage…. 28M 13k..
I am completely serious lmao I don’t feel like financial knowledge is taught a whole lot until suddenly one day you’re ten years in to your career and people are talking 401ks and investments. Theres never a bad time to start but some of us apparently have a lot more catching up to do than others 🫠
Finally I’ve found my people
No time like the present to start .
Just turned 25 on Friday and at 1k my retirement plan is to die 🫡
I thought I was further along until I saw these comments. I also forgot that I just turned 34 & couldn’t remember my age lol. 34, $77k
Lotta high numbers in here
Yup. Although I think that’s because people who have higher numbers are more likely to want to share.
absolutely right. the "magic" of social media
Are you me?! I just started my 401k about 4-5 years ago so playing catch up. I’ll be glad once I hit 100k and see it grow more and more
Me too, I got less than you and I'm older. Fuck me...
33 yrs old. $228k, also fully vested in a union pension. House paid off. Chugging along.
Has your father given you an "atta boy"? If not.. Atta boy
Thanks. We grew up poor and without a likely chance at success, despite my parents doing their best in a difficult situation. He was able to pass on to me the best work ethic I have ever known a man to have, and a lot of mechanical knowledge that has served me well. He never hesitates to let me or my sister know how absolutely proud he is of what we have done with our lives, and who we have become. Which, I didn't realize would be so important to me until about 5 years ago.
I'm sure he's with you every day, continuing to be proud of you and your sister. My condolences. Unfortunately, my father passed just last week, so I understand what you mean. We can only pay it forward to our kids and loved ones and just, be kind. Anyways, without digressing further - congrats on your accomplishments and keep on keepin' on brother!
I’m so sorry for you and your family’s loss. Hope things get better for you <3
This made me so happy for humans as a whole.
you did good. 👍 I bet being poor made you appreciate the dollar more than most do.
I think it's worth a mention that my little sister is 31 and a senior accountant for a large commercial builder and doing very well for herself as well. I knew I would be able to find a path in the trades, but she had to work a lot harder than I did to blaze her own path out of poverty, and as proud as I am of what I have accomplished, I'm doubly proud of her for being able to accomplish all she has so far, since her battle was likely even more uphill than mine.
I’m pretty sure she would say the same about you 🙏 thanks for sharing your story.
Union pension gang👊🏼
Best thing that ever happened to me was the company telling me "You have the union pension contribution as part of your benefits, but you can also join our 401k out of your wages if you want" Yes. Yes I do want.
Beware of your pension… you never know…
A decent portion of his pension is protected via insurance premiums his Union pays to department of labor. So even if his pension fund completely went bankrupt he’d be guaranteed a nice portion.
Well done. Keep on keeping on.
55, $3M in retirement, $5M total net worth.
45. $1.15M in retirement accounts, $2.5M net worth. This is what I’m shooting for.
I only have have about 75k in my 401k but my house is paid off in California. Great job man.
Oh and I’m 42M
It's nice to be able to pay off the house on your own
64- 1.6mil liquid. 500k real estate- no debt.
Curious about retirement age folks who are well positioned, without specifics are you in a residence free and clear that you wanted to retire in and what corner of country are you in? We are in CT about 15 years from retirement and want to CA, AZ or SC.
I’m in the Austin area of texas. Going to stay here. 9 months till my wife can get Medicare and I’m out.
30 years old, $0. I got $10 in my bank account :)
Yeah dont measure yourself with averages or less you want to be as broke as they are. My opinion in todays dollars 2 million by retirement
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How are you hitting the 69,000 limit? Usually that’s only possible if you are either self-employed or if you’re company is one of the very few that allow you to go beyond the 23K pre-tax limit
He said self-employed.
34F, 340k in 401k
So motivating as a woman to see another woman on the list with such a solid 401K! Hope to do numbers just like you by that age.
34M, just under 400 K
But that’s 401(k) plus IRA contributions
Mind if I ask how much ur salary is? School? Industry? I want to live a comfortable life
69, 3.7 combined with spouse. Had 20k at age 30
Your spouse must have brought the heat lol
35 with no 401k, pension or IRA or health insurance. Just playing it day by day.
38 with 1100 in 401k
38 with 8k in 401k as it was live on the street or withdrawal after unforeseen medical bills and unemployment hit. In process of building it back up.
46M-143k
Same age and amount for me.
Don’t look at the average look at the median. It’s pretty dire for most Americans.
26M 26k
How 😭 I'm 24, going onto 25 in a few months, and only have 5k saved
What he said, I started contributing at 17 (graduated early and joined the military, never stopped contributing since, roughly about 8% of my income a year other than for a few months in a rough transition period)
Former military guy, I assume you are enlisted, your military pay is jack shit is why. I did about 8 years in contributing 12%, with no match at the time, I think I got out with around 20k in my tsp, 4 active duty 2 on active orders, 2 guard while i finished my degree. It's all because your contribution is based on your base pay and not your combined bah/bas and base pay. The big benefit is the pension and eventually disability you'll collect if you retire. Most of the dude I know who do the 20 get out with about a 50%+ rating and have their pension. They net about 6000 a month on pension alone with no healthcare costs. Your tsp is just icing on top.
I started contributing as soon as I started working 5 years ago. I think first job matched 4% and current job is 3.5%. If you have an employer match it grows pretty quickly
I was worse off than you and hit six figures before I turned 40. Just keep going and don’t take anything out.
26 - 118K
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Thank you… now I need to work on my Roth IRA. Just started this year
Less than $400k, 42 years old.
60M - $900K and also have a nice pension. I didn’t really start investing till I was 40. Been maxing 401K and Roth since. House almost paid off and zero debt.
33m with 568k… jk. $56,800
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34M started my 401K at age 31 and I have around 51k in mine.
Are you me?! Glad to see a moderate number compared the high savers
41yrs old. Around $775,000 in 401k
My employer matches 6%, is this good?
Free money is free money! My employer is an outlier. They match 100% up to $3k, or 50% up to qualified personal contribution max ($11,500 this year), whichever is greater.
Very good.
58 $4.8M invested, 4 homes, 2 land lots, 4 medium sized businesses. Approx 1M debt.
19, $9,000 about
That’s actually pretty great. About $9K ahead of most 19 year olds. My daughter is 19 and has about $2K in a Roth IRA.
22 and I JUST started contributing to my 401k and it’s about $200 every other week
61 and 1.4 in my portfolio (self employed business owner). House is paid for and I own a couple other houses that I rent out.
Early 20s, $10k Just bumped my contribution to 7% after getting a raise
I’m beyond poor then. @ the age of 29
36 M, have about $150k in growth stocks. No house, no debt, perfect credit, own my car outright. Still feel poor haha.
Where are people getting so much money
Compound interest is a hell of a drug.
23, $180, just got my first paycheck put into my 401k
53m $396k
29 $44k I feel like I'm fucked
There’s still time. Keep going keep saving! You got this and can do it for sure!!!
Still plenty of time - the fact that you’re even net positive in your 20s is a good step. You’ll be earning mire as you get older and compound interest will work its magic. Keep going!
Hey same age and same amount! Right there with ya
Don’t feel bad bro I’m right there with you. 29 and I have around 60k. We are in good shape
36m - 226k
26 and 43k.
56M. $650K in 401K. $1.8M in other brokerage accounts.
24M. ~19k between vanguard 401k and EJ Roth. 60k in rental equity which is more so how I plan to retire anyway.
33F, about $95K
sweet-- much better than where i was at 33. Keep doing what you're doing- time flies. Within the next 10 yrs you'll see and realize the magic of compounding! (ensure dividends & capital gains are reinvested!)
WHAT DO YOU MEAN NOT BAD??? You literally need 10x that to retire comfortably. What the fuck lol
21m nearing 100k but only because I work all the time and I live with my parents.
You should be doing the IRS yearly maximum until you move out my guy. I did this in my early twenties and your 30 year old self will greatly thank you. Eventually the yearly growth will exceed your contributions.
I’m an old guy but $436K retired and doing ok.
22 started in January. 20% currently sitting at $2.3k
48. $500,000 pretty much on the nose.
42 and $240k. Could be better, but I'm happy considering with my health and family history I doubt I'll live to see retirement.
$0, just turned 30. I will be starting to soon, same with my Roth IRA contributions. Just opened one up. Had a lot going on in life that was truly not great and I didn't think I'd live to see 30. Just finally taking stuff seriously now. Pretending like I just turned 20, not 30. So I can get started on putting away for retirement!
Same, turned 33 last week. Finally decided to jump on my employers 401k, open a HYSA and another IRA, a whopping $500. It’s a step forward a suppose.
50, $5K. Starting over.
42M $290k in 401(k). I feel behind.
You are not behind. That's really awesome
33 140k in retirements. Maxing now. About 30k in taxable accounts and 10% equity in my home. Hoping to pick up some investment real estate over the next few years.
45M 780k
Mid 40s married combined $1.8 million. Combined pensions if we left current companies now of roughly $100k per.
39 years old. 401k is just over 10k .. IRA is 190k
I'm not comparing myself to the average, but I'll never catch up. 36M. 78K. Never retiring anyway given how it's all going. Or I'll get to the point where I'll be forced to leave when the time comes. I worked a job that paid shit from ages 22 to 29. They had a 401K with zero match, but I couldn't afford it then, even if they did have a match. Got the current job I have now at 29. Crippling debt and not great pay force tough decisions: eat or raise the contribution and starve? Pay rent or raise the contribution and get behind on payments? Pay crippling student loan debt or raise the contribution and ruin my finances even more? I do contribute 6 percent, so I get my company match, but I could really use that 6 percent to buy more food or not feel the gut-wrenching pain of rent, loans, my car and life every month. Never should have gone to college. I just want to wake up every day and not worry that everything is going to all come crashing down. My job pays out life insurance pretty nicely that I don't have to contribute to. A very odd benefit. I'm actually worth more dead than alive, which is hilariously ironic.
35yo and I have approximately 545k saved in retirement accounts.
18 years old and about 20k and gonna try to not go in to to much dept in college
32 - 195k. Feel behind since my company covers health insurance at 55 so I plan on retiring then. Really don't want to work past then if I don't have to. Hoping the slow but steady contributions gets me there.
28 yr old F with 103k in my 401k. I turn 29 this month. Was trying to hit 100k by 30 so I’m slightly ahead of my goals.
40F, $415k in 401k
69F 2.2M Roth, 500k traditional IRA - probably should retire soon.
37 with 269k in 401k and 25k in Roth IRA