At what age did you reach the $50K and $100K mark in your 401(K)?
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At what age did you reach the $50K and $100K mark in your 401(K)?
Posted by stendulkar on 2/1 at 1:18 am
I just crossed the $50K mark and am wondering at what age you crossed this mark and after how many years of working full time?


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Posted by Crimsonsaint24 on 2/1 at 2:11 am to stendulkar
I am at 26,000 dollars in my 401k I am 25 years old I have been with my company for 6 years


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Posted by LSUtoOmaha on 2/1 at 2:23 am to Crimsonsaint24
I am at about $9,000, have been with my company 18 months, and am 23. I'd be happy to have around $100k when I am 30.


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Posted by mctiger1985 on 2/1 at 6:56 am to stendulkar
I'm 27, been working for 6 years and am at $45,000... so hopefully soon


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Posted by ItNeverRains on 2/1 at 6:59 am to mctiger1985
30 for 100k, then again at 34

Edit: IRA


This post was edited on 2/1 at 7:00 am

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Posted by lynxcat on 2/1 at 7:37 am to ItNeverRains
401k is a relatively small piece of my overall networth, so it isn't reflective of anything right now.


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Posted by I Love Bama on 2/1 at 8:22 am to stendulkar
Almost all my investments are in real estate. I'm almost 30 and don't have 50k in my 401k


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Posted by KG6 on 2/1 at 8:35 am to stendulkar
I'm 26 and at 35k in my 401k, 5,500 in Roth IRA. I have a good bit in investments that i really need to start transferring to the Roth each year.

This post was edited on 2/1 at 8:53 am

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Posted by Dan on 2/1 at 8:45 am to stendulkar
Well.. just to make any lurkers feel better.. 27 w/ only 13K

been working 3.5 yrs

I put my contributions way down 2 yrs ago to save cash for a down payment, though. My company does not match. We profit share instead, which is independent of my own contributions.

Not sure if that was smart or not, but I do have a ton of cash ready to go.


This post was edited on 2/1 at 8:49 am

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Posted by meldawg399 on 2/1 at 8:56 am to Dan
29 I think. At 30, I currently have an IRA from my former employer's 401K worth $22.6K and my current employer's 401k account is $46K. When I sstarted my new job, I had to wait 6 months to start contributing again. My company use to match 50% of 6% but a year ago increased it to 100% of 6%

I have a handful of other investments I'm into too.

ETA: 29 for the $50K mark....haven't hit $100K in retirement yet,


This post was edited on 2/1 at 8:58 am

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Posted by BigBoyTiger on 2/1 at 8:58 am to meldawg399
Hit $100,000 at 30. I'm 31 and at $120,000. Save 17% of my income into the 401k.


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Posted by TulaneUVA on 2/1 at 8:59 am to meldawg399
Y'all need to check out this thread.

LINK



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Posted by Cold Pizza on 2/1 at 9:21 am to stendulkar
$50k around 24. IIRC, I crossed $100k twice.


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Posted by polizei11 on 2/1 at 9:41 am to stendulkar
I'm at 34k at 24. Bought a house last June. Had 5k in my 401k from internships in June 2011. Should hit 100k at 26-27.


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Posted by Fat Bastard on 2/1 at 9:47 am to stendulkar
quote:

stendulkar



irrelevant to me, it depends if those numbers are important to you and if the 401k is your main focus of investing. I did not make jack(by my standards and probably most others) until i was 34. That was 8 years ago. circumstances are different for everyone. I had a 401k in the past and cashed out (paid taxes and penalties as i never thought i would be an employee again and I had no roth then nor thought about rolling it over as I needed the money anyway). After that I mainly did contract work through my S-corp. Now i have a roth ira and a 401k again but i just max the roth and only put in the match on the 401k. most all my extra money now goes towards RE.

A better gauge would be one's net worth/financial independence IMO.


This post was edited on 2/1 at 10:05 am

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Posted by PetreauxCat on 2/1 at 10:54 am to stendulkar
Question that wasn't answered in the other thread. 401k contributions max out at 16.5k, but that is only your contribution right? Ex. If I make 100k and put in 10% my company can match that 10% correct?


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Posted by Bayou Tiger on 2/1 at 11:09 am to stendulkar
24 & 27


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Posted by hiltacular on 2/1 at 11:35 am to Cold Pizza
quote:

$50k around 24. IIRC, I crossed $100k twice.

You crossed $100k before 24? Can't you only put in 16.5K/yr? Damn what job were you working at 18? Serious question haha



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Posted by BigBoyTiger on 2/1 at 11:47 am to hiltacular
Minimum person contribution is 17.5 this year. Employer can put in anything above that.


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Posted by CptRusty on 2/1 at 11:50 am to hiltacular
50k @ 30

Started working at 25. Only contributed 5% for the first few year

Wish I would have maxed out earlier.



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