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re: What are your realistic 5 year financial goals?
Posted on 3/11/15 at 2:11 pm to GenesChin
Posted on 3/11/15 at 2:11 pm to GenesChin
quote:
-When I am 27 have at least $100k in 401k/IRA
man...2008/2009 killed my 401k
I started in 2006, had like $30k in it, then by the end of 2009 it was almost wiped out, basically had to start over in 2010
I'm 30 and don't have $100k in it yet
obviously I have time to recover, unlike a lot of older people on the verge of retirement, but those 2 years killed my initial start
1
Posted on 3/11/15 at 3:06 pm to Salmon
quote:
I started in 2006, had like $30k in it, then by the end of 2009 it was almost wiped out, basically had to start over in 2010
Did you take any money out at the bottom? Stop contributing? If not, I would think you'd be more than recovered by now. From 2006 to now, there's been over 50% gain in the S&P, and if you continued to contribute from 2009 on there's been over 100% gain since then.
Just curious, if you care to elaborate. I started in later than I should have so I didn't have to make those tough calls.
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