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Started By
Message
Just hit 200k in my 401k
Posted on 2/24/12 at 4:43 pm
Posted on 2/24/12 at 4:43 pm
Not a baller but today was the 1st time I hit 200k. Kinda happy about that. 
5
Posted on 2/24/12 at 4:44 pm to Mercy Percy
Could be pretty baller. If you are 35 or below I would consider 200k in the 401k baller. If you are 60...well...not so much.
Congrats though!
Congrats though!
Posted on 2/24/12 at 4:49 pm to Mercy Percy
Congrats, keep at it.
Posted on 2/24/12 at 5:35 pm to I Love Bama
quote:
If you are 35 or below I would consider 200k in the 401k baller. If you are 60...well...not so much
what he said....so which is it?
Posted on 2/24/12 at 5:57 pm to JDub3
quote:
what he said....so which is it?
quote:
Birth Date: October 4, 1975
In his profile. 36.
Posted on 2/24/12 at 5:59 pm to rmc
quote:
Could be pretty baller. If you are 35 or below I would consider 200k in the 401k baller.
quote:
In his profile. 36.
He was so close!!
Posted on 2/24/12 at 6:06 pm to LSUtoOmaha
Not a bad number IMO. I mean, unless he is dragging in a 6 figure salary for the past 10 years, its pretty solid.
Posted on 2/24/12 at 6:33 pm to rmc
No 100k salary. Less than half of that. But yeah I will be 37 this year. Just a lot of saving and div stocks. About 2 yrs ago my company got the Roth 401k plan so I am happy about that. Thanks guys. 
Posted on 2/24/12 at 6:35 pm to Mercy Percy
quote:
No 100k salary. Less than half of that. But yeah I will be 37 this year. Just a lot of saving and div stocks.
Damn that's very impressive. Congrats man
Posted on 2/24/12 at 9:15 pm to LSUtoOmaha
Congrats! I hit my 200k mark in my 401k about 4 months ago. I just turned 33. That's including my pension.
Posted on 2/24/12 at 9:40 pm to Bayou Bengal09
I should try to project that for myself. I haven't really considered it but I am frugal as hell, while still enjoying life.
I think the biggest impact will be 1) when I have kids 2) how many big trips I take 3) if I go to graduate school 4) what kind of car I buy in a few years 5) any unforeseen major expenditures (health, etc)
Those five things will all have a major impact on savings over the next decade or so.
I think the biggest impact will be 1) when I have kids 2) how many big trips I take 3) if I go to graduate school 4) what kind of car I buy in a few years 5) any unforeseen major expenditures (health, etc)
Those five things will all have a major impact on savings over the next decade or so.
Posted on 2/24/12 at 9:45 pm to lynxcat
Just figured out an EXTREMELY rough estimate of what I could save over the years until I am 35 assuming I stay in the same job, making consistent bonuses/raises.
This calculation assumes:
1) Put 100% into 401k each year that the company matches
2) Don't withdraw any from the 401k
3) All bonuses go into savings
4) Save an additional 10% of gross each year in other savings vehicles.
5) Does NOT include company pension
No NPV calculations or assumed interest of investments was done -- this is just a gross number. My savings would be ~$620,000 when I am 35. Of course this will be lower once you consider taxes, but I don't want to take the time to make that model
Maybe I will just make the assumption that the joint income from a spouse offsets whatever taxes I would incur.
This basically has me saving at around a 25% rate of my gross for the next decade. I feel like this is on the absolute high side, but still bordering on attainable.
This calculation assumes:
1) Put 100% into 401k each year that the company matches
2) Don't withdraw any from the 401k
3) All bonuses go into savings
4) Save an additional 10% of gross each year in other savings vehicles.
5) Does NOT include company pension
No NPV calculations or assumed interest of investments was done -- this is just a gross number. My savings would be ~$620,000 when I am 35. Of course this will be lower once you consider taxes, but I don't want to take the time to make that model
Maybe I will just make the assumption that the joint income from a spouse offsets whatever taxes I would incur. This basically has me saving at around a 25% rate of my gross for the next decade. I feel like this is on the absolute high side, but still bordering on attainable.
This post was edited on 2/24/12 at 9:55 pm
Posted on 2/24/12 at 10:03 pm to Mercy Percy
quote:
Not a baller but today was the 1st time I hit 200k. Kinda happy about that.
But do you drive an M5 and bang a new OT 10 every night like me?
Posted on 2/25/12 at 6:50 am to Cold Pizza
Not at all cold pizza. 2003 Honda accord. No ot10 at all.
Posted on 2/25/12 at 1:13 pm to wegotdatwood
Right out of college.
Posted on 2/25/12 at 3:51 pm to wegotdatwood
Yes
Posted on 2/26/12 at 9:37 pm to Mercy Percy
Am very impressed. I have 20k in mine. Guess I have been pissing all my money away.
Posted on 2/27/12 at 9:47 am to Weaver
Very respectable.
I am at about 50k - 27 years old. But I am forced to contribute 6.5 percent to my pension as well.
I am at about 50k - 27 years old. But I am forced to contribute 6.5 percent to my pension as well.
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