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Posted on 12/11/21 at 9:59 am to TDsngumbo
33. I invest about $10k/month. Portion of that goes into my solo 401(k). I think solo 401(k) you can max it out in the 60s
Posted on 12/11/21 at 10:18 am to tigersfan1989
quote:
My 401k. I put 19500 pretax and 10500 after tax.
Are you using the after tax 401k for mega backdoor Roth IRA? If not, what's the advantage of post tax 401k over a taxable brokerage? (Honest question)
Posted on 12/11/21 at 10:46 am to TDsngumbo
31 and at the moment, zero
Posted on 12/11/21 at 10:51 am to TorchtheFlyingTiger
(no message)
This post was edited on 1/1/22 at 12:20 pm
Posted on 12/11/21 at 11:28 am to TDsngumbo
Early 30s. Between my wife and I we are at 5100 per month this year. Spent a ton of money this year . Last year we hit 6400 a month in retirement savings.
This post was edited on 12/11/21 at 11:32 am
Posted on 12/11/21 at 12:05 pm to TDsngumbo
I'm 32.
1. Max 401K annually for the last 3 years.
2. Max Roth IRA annually for the last 8 years.
3. Will max HSA next year now that I have it again.
4. Extra cash / bonuses / OT bag go to my brokerage account.
Hope to retire by 52.
1. Max 401K annually for the last 3 years.
2. Max Roth IRA annually for the last 8 years.
3. Will max HSA next year now that I have it again.
4. Extra cash / bonuses / OT bag go to my brokerage account.
Hope to retire by 52.
Posted on 12/11/21 at 12:59 pm to tigersfan1989
quote:61k for 2022 w/67k if over 50 for the catch up.
The IRS limit for employee and employer combined contributions is 58k per year.
Posted on 12/11/21 at 1:13 pm to achenator
Have always maxed 401k and profit sharing for both the wife and I. So $116k last year or whatever. I can contribute another $20k tax deferred in a state retirement plan for healthcare providers and other state employees. And usually, usually $150-250k/yr in other investments outside of that in outside of that such as real estate, timber, stocks, or re-investments in our businesses or new businesses.
Got started late as we both went to professional school and have doctorates. Despite saving so much only in recent years have really got to appreciate the time value of money. Wish I would've done more investing outside of my tax deferred accounts at an earlier age.
Got started late as we both went to professional school and have doctorates. Despite saving so much only in recent years have really got to appreciate the time value of money. Wish I would've done more investing outside of my tax deferred accounts at an earlier age.
This post was edited on 12/12/21 at 12:29 pm
Posted on 12/11/21 at 1:20 pm to JohnnyKilroy
quote:
Early 30s. Between my wife and I we are at 5100 per month this year. Spent a ton of money this year . Last year we hit 6400 a month in retirement savings.
You're doing well. Don't regret enjoying some of your money. I never have buyers remorse or regret blowing some money on stupid shite. The reason we make money is to live and enjoy it. My dad was frugal his whole life, wanted a luxurious retirement and was scared to run out of money so he never really fully enjoyed the fruits of his labor. He died at 63 from COVID. You never know. Make sure your save judiciously for retirement and your family is taken care of, but enjoy life. My biggest thing to warn people of is spending on material objects that rapidly depreciate. I prefer to spend my money on experiences. Travel, nice meals, good liquor and wine etc. I could live in a van down by the river so long as I have plenty of pillows and A/C, but I want to do shite. And I've learned that owning too much shite just bogs you down. If it weren't for the wife and girls, I'd sell my shite off, quit work and become a partying nomad. I would retain my off grid "hunting camp".
Posted on 12/11/21 at 1:40 pm to SmackoverHawg
These are our contributions as a couple.
401k: $1,167/month
403b: $1,625/month
457: $1,000/month
Roth 1: $500/month although we backdoor so it's a lump sum.
Roth 2: $500/month although we backdoor so it's a lump sum.
Pension: $530'ish a month
Taxable: $1,000-$1,700/ month depending on cash flows.
i401k: try to put in the difference of what I don't defer in my 401k at the top. Just depends what's left over at the end of the year.
401k: $1,167/month
403b: $1,625/month
457: $1,000/month
Roth 1: $500/month although we backdoor so it's a lump sum.
Roth 2: $500/month although we backdoor so it's a lump sum.
Pension: $530'ish a month
Taxable: $1,000-$1,700/ month depending on cash flows.
i401k: try to put in the difference of what I don't defer in my 401k at the top. Just depends what's left over at the end of the year.
This post was edited on 12/11/21 at 2:12 pm
Posted on 12/11/21 at 1:47 pm to TheWiz
You baws must make way more than me
Posted on 12/11/21 at 2:11 pm to jimbeam
Save as much as possible without really sacrificing lifestyle. I used to pinch pennies more but I’m not going to live like that if it isn’t required.
Posted on 12/11/21 at 3:04 pm to jimbeam
Yeah I thought I made good money. Yeesh
Posted on 12/11/21 at 3:52 pm to TDsngumbo
That’s exceptional, bud. At this rate you’ll be ready to retire at 55.
Posted on 12/11/21 at 3:59 pm to TDsngumbo
Ill be 45 in a few days and max out my 401k, fund my wife and I’s Roth each Jan 1st for the last few years, max out HSA, own a paid off house and no debt other than utilities, which are necessary. I want to be done in 10 years.
Posted on 12/11/21 at 4:04 pm to jimbeam
quote:
You baws must make way more than me
These threads always remind me we pay govt workers way too much and they have way too generous retirement plans.
Posted on 12/11/21 at 4:04 pm to UltimaParadox
Could be a taxable account aka bridge account. There no limit on how much you can add to the account.
Posted on 12/11/21 at 4:50 pm to TDsngumbo
Between EE/ER contributions, I have roughly $57,000 going into the 401k annually. Mid-40s
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