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401k - $100k milestone

Posted on 7/28/16 at 8:19 am
Posted by LSUEEAlum
Member since Oct 2013
798 posts
Posted on 7/28/16 at 8:19 am
At what age did you get to the $100k mark in your 401k?
Posted by Boh
Baton Rouge
Member since Oct 2009
12357 posts
Posted on 7/28/16 at 8:37 am to
I'm about $30k short of that and I'm 30. Was hoping to be at $100k by the time I was 30 but kids delayed me a bit.
Posted by LSUEEAlum
Member since Oct 2013
798 posts
Posted on 7/28/16 at 8:48 am to
I just turned 31 and just hit that mark. Was just trying to gauge how well I am doing. I was also hoping by 30 to be at 100k but I had one year where I stopped contributing due to wedding/house/and having to work part time due to lack of work.
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75185 posts
Posted on 7/28/16 at 8:49 am to
43
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18315 posts
Posted on 7/28/16 at 8:52 am to
A better question would be how long did it take you.
Posted by abitabrewed4LSU
Houston, TX
Member since Feb 2009
1078 posts
Posted on 7/28/16 at 9:02 am to
28
Posted by LSUEEAlum
Member since Oct 2013
798 posts
Posted on 7/28/16 at 9:04 am to
For me I started my 401k at 23 and like i said I did not contribute for an entire year and I'm 31 now. So roughly 7 to 7.5 years. Just got to the point, maybe a year ago, when I was able to start maxing out.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80773 posts
Posted on 7/28/16 at 9:05 am to
Doing a basic calculation- if I keep my current contribution percentage the same and assume an 8% per year growth with 4% per year raise, I'll be hitting that mark right at my 30th bday. I could always reduce my individual post tax stock purchases and up my 401 contribution though and hit it a little sooner
This post was edited on 7/28/16 at 9:06 am
Posted by JL
Member since Aug 2006
3040 posts
Posted on 7/28/16 at 9:30 am to
Been maxing out my 401K since 22 and set up outside investments which i plan to use for retirement. I just turned 33 and broke $500k for total retirement funds last year. Got very lucky by being able to work overseas for a number of years and stash away a lot of money with very little expenses.
Posted by mctiger1985
Baton Rouge
Member since Oct 2009
3693 posts
Posted on 7/28/16 at 9:31 am to
I'll be hitting the $100k mark a few months after I turn 31.
Posted by bawbarn
Member since Jul 2012
3695 posts
Posted on 7/28/16 at 9:33 am to
Not 401K, but my Roth and other retirement funds hit about 27 for me. My first job was a lower paying job, and employer didn't match anything, so that is why the 401K is behind my other investments.
Posted by DeathValley85
Member since May 2011
17172 posts
Posted on 7/28/16 at 9:33 am to
Well this thread is depressing. Took me too long to figure out a career and now starting from scratch at 28.

Sigh...
Posted by NewIberiaHaircut
Lafayette
Member since May 2013
11553 posts
Posted on 7/28/16 at 9:40 am to
Still a few years away. My problem has been the lack of company match. First job out of college had to work there a full year before they would match. Get a year under my belt they start matching and then economic crash hit, company quit matching. I was 100% vested when I left but the couple of years they quit matching really hurt.

Second company matched from beginning but business was not good, I jumped ship after a year and they closed 3 months later. Got to keep 25% of my match from them.

Third company doesn't match until 2 years. Just hit that milestone.

I do a lot of savings outside of a 401K because of this.
This post was edited on 7/28/16 at 9:44 am
Posted by dragginass
Member since Jan 2013
2740 posts
Posted on 7/28/16 at 9:48 am to
I was 29 when I hit the $100k milestone, and 33 when I hit $250k. Next milestone is 500k, and hoping to do it before age 40.
Posted by KG6
Member since Aug 2009
10920 posts
Posted on 7/28/16 at 9:53 am to
I was 29. I have seriously slowed down due to the oilfield being uncertain and trying to pad my available cash savings. Need to get back on track.
Posted by Crazy4OU
Fort Worth
Member since Oct 2005
80 posts
Posted on 7/28/16 at 10:16 am to
I'm 38 and should hit $100k next year in my 401k. I always worked at smaller companies when I was in my 20's and they did not offer a 401k. I didn't start one until I was around 30.
Posted by Clark W Griswold
THE USA
Member since Sep 2012
10509 posts
Posted on 7/28/16 at 10:18 am to
I was about 28 when my first few 401k rollovers hit $100k. My current employer matches 7% and I've hit $100k in less than 4 years just with them. So a little over $200k in the retirement fund.
Posted by Salmon
On the trails
Member since Feb 2008
83557 posts
Posted on 7/28/16 at 10:25 am to
I just hit it at 32
Posted by readysetgeaux
Member since Jun 2012
203 posts
Posted on 7/28/16 at 10:28 am to
$25k away at 28. Should hit the mark when I'm 30.
Posted by MusclesofBrussels
Member since Dec 2015
4474 posts
Posted on 7/28/16 at 10:52 am to
quote:

Well this thread is depressing. Took me too long to figure out a career and now starting from scratch at 28.

Sigh...


Don't feel too bad. I only have like $12K in mine and I'm older than you.
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