At what age did you reach the $50K and $100K mark in your 401(K)? - Page 2 - TigerDroppings.com

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Bayou Tiger
LSU Fan
The Woodlands, TX
Member since Nov 2003
3239 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

Y'all need to check out this thread.
Some people in that OT thread calling out "liars" are pretty mad and not familiar with the oil industry.

When I worked for Chevron they put in 8 percent if you put in 2 percent (I was single so I put in 15), and other companies probably had similar deals. And I started before the salary boom.



This post was edited on 2/1 at 11:57 am


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jimbeam
USA Fan
University of LSU
Member since Oct 2011
30605 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


Damn!





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homeskillet
Alabama Fan
Huntsville, AL
Member since Dec 2011
225 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


50k about 28, will hit 100k and then some this year. My company match is pretty sick right now (15% regardless of my contributions, which I max)

Edit: am 30, turning 31 this year.



This post was edited on 2/1 at 12:09 pm


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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
15681 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

My company match is pretty sick right now (15% regardless of my contributions, which I max)


wow. that is great.






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Athanatos
Vanderbilt Fan
Baton Rouge
Member since Sep 2010
6450 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


19 months on at my current job and right at $29k in my 401k. Small piece of overall asset allocation though.





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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9611 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


My company offers the same match. One year in their plan and already at 30k.





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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
6267 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

30 for 100k, then again at 34


quote:

30 i'd guess, although lost a bit of that in the crash. now 36 got 150k in IRA and another 20k in HSA.


If another thread is started, my answers will mirror these two previous ones given






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jimbeam
USA Fan
University of LSU
Member since Oct 2011
30605 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

One year in their plan and already at 30k.






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stendulkar
LSU Fan
Member since Aug 2012
444 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

50k @ 30

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

Wish I would have maxed out earlier.

All three of your points apply to my own personal situation also. I went to grad school straight after my undergrad and was 25 by the time I started working. I didn't contribute as much as I could have the first few years because I had racked up so much student loans and was to paying it off. By the time I realized my mistake of not contributing the maximum every year, I had lost a few years. At least I know better now.






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TEAUXLER
LSU Fan
League City, TX
Member since Jan 2010
1014 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


Age 34
401k $210,000 started in October 2002






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Cholo
LSU Fan
National City, CA
Member since Oct 2012
1076 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


Some motherfrickin ballers on this site. Got 47k in my TSP and 11k in my ROTH but I'm also gonna have a pension at 43 as long as I don't get thrown out of the Army. Wish I had started a ROTH sooner.


This post was edited on 2/1 at 8:30 pm


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peopleschamp
Wright St. Fan
Baton Rouge
Member since Feb 2006
6576 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


Some of you guys haven't hit a huge downturn in the market yet. It also looks like some of you started investing when the market was down. I can see your optimism. My experience is most companies offer limited choices in their 401Ks. If you have the knowledge like some of the guys on this Money Board do then invest in a Roth IRA where your investment options are limitless. You can still invest the company minimum to get your match but if all your money is in a company sponsored 401K you will likely feel a market downturn. That's just my opinion as an old timer. Good luck.





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siliconvalleytiger
LSU Fan
Northern California
Member since Apr 2004
22267 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


100k around age 27. I actually forgot about it and then logged in to check and went woaaah. Mid 30s now.

stendulkar huh? Sounds like a cricket fan.



This post was edited on 2/2 at 12:02 pm


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TulaneUVA
Virginia Fan
Member since Jun 2005
20475 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

Some people in that OT thread calling out "liars" are pretty mad and not familiar with the oil industry.


Yep, just cause they majored in some liberal arts or some shit, they can't imagine how this is possible






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JonTheTigerFan
LSU Fan
Central, LA
Member since Nov 2003
4681 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

Yep, just cause they majored in some liberal arts or some shit, they can't imagine how this is possible


No joke. I see people at work all the time who barely finished high school, retiring with $2 million in their 401k and cashing out a huge lump sum pension.






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120461 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

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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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120461 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


I'm in the oilfield with a contractor

Their 401K plan looks terrible

No match at all. I can't contribute till I make a year there (July) so I've maxed out my IRA in the meantime. (Still need to put in 5500 for tax year 2013)

I'm not sure how much I'm going to contribute to their 401K plan. Part of me thinks it's wise to do the 15% if I can afford it but it's not like I get anything other than the tax benefit. I'll assess my financial situation when the time comes. If I have a big enough cash reserve in short term savings I'll go 15%







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pleading the fifth
Louisville Fan
Member since Feb 2006
1628 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


0K at 30. Just finished residency last June and can't contribute for a year. Hopefully I'll catch up.





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homeskillet
Alabama Fan
Huntsville, AL
Member since Dec 2011
225 posts

re: At what age did you reach the $50K and $100K mark in your 401(K)?


quote:

Some of you guys haven't hit a huge downturn in the market yet. It also looks like some of you started investing when the market was down. I can see your optimism. My experience is most companies offer limited choices in their 401Ks. If you have the knowledge like some of the guys on this Money Board do then invest in a Roth IRA where your investment options are limitless. You can still invest the company minimum to get your match but if all your money is in a company sponsored 401K you will likely feel a market downturn. That's just my opinion as an old timer. Good luck.



Correct on my part. I got out of the service in 08 and started then, so the largest portion of my contributions came after the market started up (not intentional, just the way it worked). And correct again on the options, I like the Vanguard approach. The best I have in my 401k account is a S&P 500 index fund. It has a low expense ratio and beat the rest of the options the last 2 years. I have been begging our benefits department to switch us over to Vanguard, but no luck yet. Until then, I am just keeping it in the index fund and limiting what I give the brokers.






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