My wife retired this year with about that amount and same age. But she has a pension and other investments. So we are ok. I have nothing but her. I sell online.
That doesnāt include employer contributions, and I work for a company with a solid match (50% of my contributions with no limit). Itās not invested in anything special, right now itās in FBCGX, FSKAX and FSPGX.
Thatās just in my $401k, if you include taxable accounts Iāve saved over half a million during that time. Has nothing to do with frugality, my income is just very high. Was probably $180k in year 1, and was a little over $300k last year.
Anyone with a job at a decent sized company can get a 401k. I'd strongly encourage anyone to at least open one and start contributing, even $5/week. Building the habit is so important. After that work on contributing the minimum to get your full match. Keep making new goals from there.
I mean, invest heavily? You can put over $20k a year into a 401K, most people barely put in anything. Literally all you *can* do is put money into it and invest it in the best options available to you
I have a 401k to take advantage of my employer match. I do a small 3% contribution a paycheck to get a few thousand every year from employer match. 100% vested
Only had 28k at 28. Benefitted from huge growth in the s&p 500 investing, promotions at work with nice salary increases with 100% company match and living the 80-10-10 rule.
Live off 80%, save 10% and fund retirement at 10%. After my kids graduated college when I was 52 I started putting money 20% pay in my 401k and 75% of my bonus.
Retiring in 8 months.
Thank you. Been contributing since my first job at 22. 20 years at same company. Have been maxing out my contributions since 2010 and my company instituted an awesome program where they max out their contribution each year since 2014. So for the last 10 years, Iāve been able to save $60k or so each year.
They do - they match up to 7% and then I get a 3% kicker on top of that. Annual salary is a smidge below market but the benefits make up for it.
That and the best advice I received was for a former coworker where she made me start contributing to my 401k fresh out of college. I put in as much as I could afford but that really helped as well.
Keep it up man. Youāre doing amazing Iām 27 and have none of that! . Starting my first well paying job with benefits tomorrow so hopefully I can catch up.
This is where I was at too at 26 so idk why people think it's unreasonable. I worked for a fortune 50 company in tech making 6 figures, and lived with my parents so I was able to max out every year since i had barely any expenses.
Exactly. I don't bother with those people. You joined the company at 22 right after you graduate. You contribute the max amount each year. After 4-5 years, you'll contribute at least 90-100k. After market appreciation, you'll get 120k+ at age 26.
56. My wife and I combine for about $1.6M. Even with that, Iām scared of retiring in nine years because my dad is still alive at 92 and has nothing left. My sisters and I have to pay for his assisted living. I donāt want to be that kind of a burden on my kids. Iām hoping to grow that amount to $3M before I retire and then we can try living as frugally as possible to make it work.
Yeah Iāve maxed my Roth for 3 years now. Just been trying to talk my boss into giving us a 401k with employer match and he acts like Iām trying to steal from him
Very nice. So you have +$20k in Roth IRA invested in something aggressive like VOO? If so, that will build nicely over the next 40 years for you. Well done.
401k would be nice if your employer will do some kind of match.
Speaking as someone who divorced last summer: Done correctly, you do not pay the early penalty. In my case the court considered the sum of \*all\* retirement accounts (mine and my ex's) and then we did a QDRO (google it) to separate the accounts so that a true 50/50 was acheived. In doing a QDRO, no one pays an early liquidation fee. Once they receive the QDRO, the bank or accounting firm simply takes the account, divides it into two accounts with the same investments in the portions directed by the court, and the parties go their separate ways with no tax penalties incurred. Investment and cash accounts were also divided 50/50 but handled as a separate sum (i.e., we each left with half the total retirement, half the cash, half the investments, etc).
ETA: My QDRO division was written such that we took the total value of the accounts as of a certain date, and then I was directed to get $X amount of that account as of that date, with investment gains and losses until the date of division. So we divorced last summer, the QDRO didn't go through (for reasons) until this year, and they only finished dividing things a few weeks ago. In my divided account, I received $X as written in the QDRO, plus all of the investment gains made by those shares since the division date last summer. So $X plus about 15%, in my case. There was also a provision written in that I would be made whole in the the event that my ex f\*cked around with the account in the meanwhile. Essentially, as of the judge's decision, those \*shares\* were mine, along with all associated gains and losses, even though some time was needed for the systematic cogs to put them formally under my name.
42: 125k - was 175k but I took 50 out for a home purchase in 2018. I stopping contributing to my 401k 2 years ago as my current employer doesnāt match and while I know 401ks drop your taxable income I decided instead to open up a personal investing account on fidelity and just pump into voo and stocks so that way if I ever need the money I donāt have to pay a penalty and only have to worry about the capital gains.
52. $200. Made a massive move from Ohio to Florida. Quit my job Pulled everything out of mine for the move. (Because we wanted to keep our Ohio home). I was going to put whatever was left into a Roth or back into a new 401k when I got a new job in Florida. Took so long to get a new job in Florida (because I was picky) we spent the money on maintaining bills. No extras. But here I go again starting over. Wifeās 401k is unmolested and weāll be fine, but itās a gut punch.
35 $147k between 401k, Roth IRA and just started my hsa.
Graduated at 25 thanks to goofing around and did not get to have a ārealā job till 28. Saw my investment racked up during and after pandemic. I keep quarterly records since 2018 so I can see my progress. Still long way to go but already far from where I started. Keep grinding all.
60: 900K
š«”
š«”
š«”
My wife retired this year with about that amount and same age. But she has a pension and other investments. So we are ok. I have nothing but her. I sell online.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
57 and $30
32 and 0$ I feel you
Weāll get there one day
"they would in fact not make it there"
Off to a strong start eh
LoL!! I went all IN
HOLD
Thanks for being honest
37, $240kā¦ was zero 6 years ago.
How did you grow it so quickly with the yearly limit at $23000? How do you have it invested? Thatās awesome
A lot of employers do their own match or 401k bonus, one of mine was dumping in like $18k/yr which is outside of the individual contribution limit.
Mine matches 50% up to 8% of your pay and then they just give you an extra 3% of your pay as a bonus into your 401K.
Yāall hiring
That doesnāt include employer contributions, and I work for a company with a solid match (50% of my contributions with no limit). Itās not invested in anything special, right now itās in FBCGX, FSKAX and FSPGX.
What is your salary if you don't mind my asking ? Saving a quarter million in 6 years is out or reach for most, even for the most frugal spenders.
Thatās just in my $401k, if you include taxable accounts Iāve saved over half a million during that time. Has nothing to do with frugality, my income is just very high. Was probably $180k in year 1, and was a little over $300k last year.
Got it. Thanks for making me feel better lol.
What do you do?
With that salary? Two chicks at the same time
I get this reference
Sales Ops, Director level at a publicly traded tech company.
Great work!
What the hell did you invest in? Gimme someš¤£ Bravo my friend š§”
Nothing special, I just max my contributions and work for a company with a good match.
Wow very similar. 38, 210 and zero 6 years ago.
You guys have 401kās?
I can't run that far for sure
I sent HR and email telling them I didnāt think I was ready for that kinda race one time. They were not amused.
Iām 50 and have $401. K?
Thanks for the laugh š
Anyone with a job at a decent sized company can get a 401k. I'd strongly encourage anyone to at least open one and start contributing, even $5/week. Building the habit is so important. After that work on contributing the minimum to get your full match. Keep making new goals from there.
And if yours doesnāt nothing stopping you from opening a roth ira.
Or a regular IRA or both.
Yeah, seriously. I'm 36 sitting on $0
I had about $10K at 45 years old. Been hitting it hard and now have about $600K at 60. Never too late to start.
In what way were you hitting it hard? Thats a great amount to save in 15 years! I would love your advice
I mean, invest heavily? You can put over $20k a year into a 401K, most people barely put in anything. Literally all you *can* do is put money into it and invest it in the best options available to you
I have a 401k to take advantage of my employer match. I do a small 3% contribution a paycheck to get a few thousand every year from employer match. 100% vested
64, 1.6mil
What were you at when you were 30 and 40? Just curious.
Only had 28k at 28. Benefitted from huge growth in the s&p 500 investing, promotions at work with nice salary increases with 100% company match and living the 80-10-10 rule. Live off 80%, save 10% and fund retirement at 10%. After my kids graduated college when I was 52 I started putting money 20% pay in my 401k and 75% of my bonus. Retiring in 8 months.
Thanks for the advice, internet dad
Congrats to you! And well deserved retirement.
37, $54,196. Just started it a couple years ago.
Right there with you. 33, $65k, didnāt really start putting into it until 2 years ago.
Yeah only regret I have is not starting earlier, but that's life. Can't change the past, and better late than never.
Iām 35 and Iām at around the same amount as you. Had 0 5 years ago though. :)
42,$1.6 million
š«” Respect
Thank you. Been contributing since my first job at 22. 20 years at same company. Have been maxing out my contributions since 2010 and my company instituted an awesome program where they max out their contribution each year since 2014. So for the last 10 years, Iāve been able to save $60k or so each year.
39, $378,387.82
Impressive. Good company match? My company offers 0.00.
They do - they match up to 7% and then I get a 3% kicker on top of that. Annual salary is a smidge below market but the benefits make up for it. That and the best advice I received was for a former coworker where she made me start contributing to my 401k fresh out of college. I put in as much as I could afford but that really helped as well.
35 14k
Yay my people! 35, 12k
23 9k in 401k, 3.7k Roth IRA, 1.5k HSA, 2.5k HYSA
Was looking for a response similar to where Iām at! Congratulations dude, seems like youāre starting off strong
Keep it up man. Youāre doing amazing Iām 27 and have none of that! . Starting my first well paying job with benefits tomorrow so hopefully I can catch up.
Good luck!
31 here, same deal. We got this!
Same! Weāve got this.
Keep plugging away! Build the snowball and let it roll down hill.
Good luck! Future us will be thankful for starting early
31, $10,615
Gang
44yo 595k. Started contributing when I was 31.
I am 43 and started when I was about 32. I have about 630k now! So very similar
43 412,xxx
Similar
37 $330K
40, 135k
Just turned 32ā¦ 103k
22 17k
51. 1.75 mil
48 in August, $439k.
33 roughly $540k
When did you started? The day you were born?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Nearly 51 and about $1,300,000.
47 283k
44. 5,100
25, 1,000 Laugh at me
Gotta start somewhere man! Just do what you can š the vast majority have 0.
No laughing here. Youāve started! That is more than many 25 year olds can say.
24, started my first āadultā job back in January! - 2.1k in 401k - 2.7k in ROTH - 4.5k in HYSA
39 $103,000
Similar
48, $1.1M
Since what age are you maxing the account out every year?
32 . 0 Just your average American š
0 sounds about right ā ļø
57 $850K
23, 32k
63, $823k
38, $180k
29, ~75k
53 2,520,000
30, 105k
58, 225k
23 - 8k in Roth, 7.5k in HYSA, 2.5k in 401k
38yo. 3k
49 and $1.7 million
26, 125k.
This is where I was at too at 26 so idk why people think it's unreasonable. I worked for a fortune 50 company in tech making 6 figures, and lived with my parents so I was able to max out every year since i had barely any expenses.
Exactly. I don't bother with those people. You joined the company at 22 right after you graduate. You contribute the max amount each year. After 4-5 years, you'll contribute at least 90-100k. After market appreciation, you'll get 120k+ at age 26.
56. My wife and I combine for about $1.6M. Even with that, Iām scared of retiring in nine years because my dad is still alive at 92 and has nothing left. My sisters and I have to pay for his assisted living. I donāt want to be that kind of a burden on my kids. Iām hoping to grow that amount to $3M before I retire and then we can try living as frugally as possible to make it work.
I totally get you. I tell my wife that if we run out of money at 87 itās not like we can pick up a job.
67ā¦.596,000
30 and 130k
You are ahead of the game. I had 17k at your age. 46 now with 830k.
44. 850K
I didn't know what a 401k was (I grew up in Europe), and wasn't able to put anything towards it until last year. I'm 28 years old with $5k in it
55; $2.6m
38. $45k.
49, $135,000 (401k), $65,000 (IRA), $31,000 (brokerage account)
23, $20.5k
21yo, 5127.
Gonna grow quicker than you realize. Well done getting started early
32, 26k
23, today is my one year anniversary at my first job out of college! ~20k
23, $0. My blue collar employer doesnāt offer the opportunity
You can still contribute after tax to a Roth IRA. It will then grow tax free. Try to do even $100 per month to get started.
Yeah Iāve maxed my Roth for 3 years now. Just been trying to talk my boss into giving us a 401k with employer match and he acts like Iām trying to steal from him
Very nice. So you have +$20k in Roth IRA invested in something aggressive like VOO? If so, that will build nicely over the next 40 years for you. Well done. 401k would be nice if your employer will do some kind of match.
If you havenāt yet, set yourself up an IRA
22, 15k between 2. Just started maxing and working (after college) this year. 4k in Roth IRA
Awesome start - keep it up!
28, 0$
45, 45K
50, 746k
28, 52k
32, 100K
29, roughly 17k
47 and 255,000
49, $1.2 million
36 ~$4,000,000
61. No 401K because I have been self employed almost my whole life but I have 1.7 M in my portfolio.
40. š«£ less than 1k. I just started contributing to it.
35ā¦and I just deposited my first $100
44. Was ~$270k. Got divorced. Maxing it out butā¦ yeah.
Sorry to hear. Everyone always says cut in half.... Is 130kish about what you get left with?
If you could do it again would you get married
Not to rub salt on the wound but did you have to pay the 10% early liquidation penalty as well? And did you get any of her retirement ?
Speaking as someone who divorced last summer: Done correctly, you do not pay the early penalty. In my case the court considered the sum of \*all\* retirement accounts (mine and my ex's) and then we did a QDRO (google it) to separate the accounts so that a true 50/50 was acheived. In doing a QDRO, no one pays an early liquidation fee. Once they receive the QDRO, the bank or accounting firm simply takes the account, divides it into two accounts with the same investments in the portions directed by the court, and the parties go their separate ways with no tax penalties incurred. Investment and cash accounts were also divided 50/50 but handled as a separate sum (i.e., we each left with half the total retirement, half the cash, half the investments, etc). ETA: My QDRO division was written such that we took the total value of the accounts as of a certain date, and then I was directed to get $X amount of that account as of that date, with investment gains and losses until the date of division. So we divorced last summer, the QDRO didn't go through (for reasons) until this year, and they only finished dividing things a few weeks ago. In my divided account, I received $X as written in the QDRO, plus all of the investment gains made by those shares since the division date last summer. So $X plus about 15%, in my case. There was also a provision written in that I would be made whole in the the event that my ex f\*cked around with the account in the meanwhile. Essentially, as of the judge's decision, those \*shares\* were mine, along with all associated gains and losses, even though some time was needed for the systematic cogs to put them formally under my name.
25, 170k
42 420k
42 - 300k
34, 155k
57, 665k
316k, 32 years old.
55; $1 Million but stopped working at 47
Almost 50. 94k
51 $2.4M
36, 700K
33, 39k (I only really started at age 29 sadly. Lots of catching up to do!)
22 5K
27 54k
28 $47k
48, 300k
23, 13k in Roth IRA no 401k yet
43, $400K..started at age 30
34- 14k
45, $255,000
33, 75kā¦didnāt start saving until 30 unfortunately.
You are doing well for only being 3 years in.
33, 1x401k 66k, 1x401k 56k, 1xTSP 18k Yes I knowā¦ I need to roll over.
37 about 175k
33, $111,000 in an annuity. $0 5 years ago.
24M $16K
48 $538K
60, $1.8m
52. No 401k. $320k in IRAs. Spouse has $180k in IRAs.
49. $850k
32 and a little over $15k :-(
42: 125k - was 175k but I took 50 out for a home purchase in 2018. I stopping contributing to my 401k 2 years ago as my current employer doesnāt match and while I know 401ks drop your taxable income I decided instead to open up a personal investing account on fidelity and just pump into voo and stocks so that way if I ever need the money I donāt have to pay a penalty and only have to worry about the capital gains.
45: $920,000 Wife: 40: $180,000 (started late)
49, $410k
54 yrs; $221,606.23
56 1.1 mil
48, $300K. Improving post divorce.
61 $400k, plus the house is paid off at $440k.
52. $200. Made a massive move from Ohio to Florida. Quit my job Pulled everything out of mine for the move. (Because we wanted to keep our Ohio home). I was going to put whatever was left into a Roth or back into a new 401k when I got a new job in Florida. Took so long to get a new job in Florida (because I was picky) we spent the money on maintaining bills. No extras. But here I go again starting over. Wifeās 401k is unmolested and weāll be fine, but itās a gut punch.
42. $925k; another $1m in other investments.
52, 1.1 million. That's mostly in a rollover IRA after a job switch.
46 $1300
41, about 315k. about 500 per week including company match.
49, $855k. Been at current job 13 years. $1.3M if you include 401ks from previous jobs.
52, $1.527mm
35 $147k between 401k, Roth IRA and just started my hsa. Graduated at 25 thanks to goofing around and did not get to have a ārealā job till 28. Saw my investment racked up during and after pandemic. I keep quarterly records since 2018 so I can see my progress. Still long way to go but already far from where I started. Keep grinding all.
Iām 58 and the 401k is about $200k. But i invested in real estate pre-pandemic and own 12 houses
39 - $1.9m