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401k - $100k milestone
Posted on 7/28/16 at 8:19 am
Posted on 7/28/16 at 8:19 am
At what age did you get to the $100k mark in your 401k?
Posted on 7/28/16 at 8:37 am to LSUEEAlum
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 on 7/28/16 at 8:48 am to Boh
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 on 7/28/16 at 8:52 am to LSUEEAlum
A better question would be how long did it take you.
Posted on 7/28/16 at 9:04 am to 13SaintTiger
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 on 7/28/16 at 9:05 am to LSUEEAlum
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 on 7/28/16 at 9:30 am to TigerTatorTots
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 on 7/28/16 at 9:31 am to LSUEEAlum
I'll be hitting the $100k mark a few months after I turn 31.
Posted on 7/28/16 at 9:33 am to LSUEEAlum
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 on 7/28/16 at 9:33 am to LSUEEAlum
Well this thread is depressing. Took me too long to figure out a career and now starting from scratch at 28.
Sigh...
Sigh...
Posted on 7/28/16 at 9:40 am to LSUEEAlum
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.
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 on 7/28/16 at 9:48 am to LSUEEAlum
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 on 7/28/16 at 9:53 am to LSUEEAlum
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 on 7/28/16 at 10:16 am to KG6
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 on 7/28/16 at 10:18 am to KG6
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 on 7/28/16 at 10:28 am to LSUEEAlum
$25k away at 28. Should hit the mark when I'm 30.
Posted on 7/28/16 at 10:52 am to DeathValley85
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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